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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. Which of the following financing types involves the sale of personal property with the real property?

A) Security
B) Package
C) Blanket
D) Wrap-around

2. Maryland real estate licensees should be aware that, in addition to the federally protected classes, the state's fair housing laws also prohibit discrimination based on the protected classes of _______.

A) Marital status, sexual orientation, gender identity, and source of income
B) Gun owners and military status
C) Students, retired persons, and the unemployed
D) Smokers, students, and the elderly

3. What does REO stand for?

A) Real estate-owned
B) Rental equality ownership
C) Rental equal opportunity
D) Real estate office

4. Between commercial and residential properties, which type of property is depreciated for a longer time?

A) Both commercial and residential income-producing properties are depreciated according to the same schedule.
B) Residential income-producing properties are depreciated longer (39 years) than commercial income- producing properties (27.5 years) are.
C) You cannot depreciate income-producing properties.
D) Commercial income-producing properties are depreciated longer (39 years) than residential income- producing properties (27.5 years) are.

5. Your client, Bruno, is an investor. He is in the process of selling a fourplex and mentions to you that he hates the idea of the capital gains tax he'll be subject to. What should you tell him?

A) "Taxes are required, no matter what you do."
B) "You might consider a 1031 tax-deferred exchange."
C) "Investors don't pay taxes."
D) "Capital gains do not apply to investment properties."

Solutions: