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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. Which of the following is the best definition of a covenant between a lessor and lessee?

A) An agreement or promise made between the parties
B) A rent escalation
C) A provision for which neither party to a contract is willing to compromise
D) An addendum to a contract added after it's signed

2. Violators of the Sherman Antitrust Act may be subject to fines. For what amount may corporations and individuals be liable?

A) Up to $100,000 for corporations and $1,000 for individuals
B) Up to $100 million for corporations and $1 million for individuals
C) Up to $10 million for corporations and $1 million for individuals
D) Up to $1 million for corporations and $100,000 for individuals

3. Which of the following refers to a situation where a third party intentionally disrupts a contractual relationship between two parties?

A) Contractual interference
B) Making a substantial and willful misrepresentation
C) Failure to disclose an agency relationship
D) Performing services that would qualify as practice of law

4. Assume you are a licensee in Maryland who has recently entered into an agreement with a seller to represent their interests in a real estate transaction. At what point are you required to provide a potential buyer with the agency disclosure notice?

A) At your first scheduled face-to-face meeting with the buyer about the seller's property
B) When the buyer asks you to represent them as well
C) After the seller accepts the buyer's offer
D) After the buyer deposits the earnest money in escrow

5. When a client understands what dual agency is and agrees in writing to allow a firm to act as a dual agent for them in a real estate transaction, this is known as ________.

A) Representation by proxy
B) Mutual agreement
C) Double dipping
D) Informed consent

Solutions: