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Real Estate Licensing Maryland-Real-Estate-Salesperson Exam Questions
- Topic 1: Property Ownership: This section of the exam measures skills of real estate salespersons and brokers and covers the fundamentals of property ownership. It includes understanding real and personal property, legal descriptions using metes and bounds, lot and block, and government survey methods, measuring structures and land, encumbrances such as liens, easements, rights of way, and encroachments, and the different types of ownership including sole ownership, joint tenancy, common-interest ownership, trusts, estates, business entities, and life estates.
- Topic 2: Land Use Controls: This section measures skills of real estate professionals and covers government rights in land, including taxation, eminent domain, and escheat. It addresses government and private controls over land use, including deed restrictions, subdivision covenants, and condominium or homeowners’ association regulations.
- Topic 3: Valuation: This section measures skills of real estate licensees and brokers and covers property valuation methods. Topics include appraisals, appraisal requirements and steps, economic principles affecting value, sales comparison, cost, and income approaches, as well as the use of Comparative Market Analysis (CMA) and Automated Valuation Methods (AVM) for assessing property value.
- Topic 4: Financing: This section measures skills of salespersons and brokers and covers loan concepts, underwriting, mortgage clauses, promissory notes, and types of loans including conventional, amortized, adjustable-rate, government, owner-financed, reverse mortgages, home equity, construction, rehab, and bridge loans. It also addresses financing laws and regulations such as RESPA, TILA, TRID, ECOA, lending processes, and risky loan features.
- Topic 5: Contracts: This section measures skills of real estate licensees and brokers and covers general contract law principles, elements for valid contracts, enforceability, contract types, option agreements, electronic signatures, rights and obligations, remedies for breach, and termination. It also includes purchase and lease contracts, handling multiple offers and counteroffers, and contract contingencies.
- Topic 6: Agency: This section measures skills of real estate professionals and covers agency and non-agency relationships, types of listing and representation contracts, powers of attorney, conditions for termination, fiduciary duties, agent duties to clients and non-clients, and required agency disclosures, including potential conflicts of interest.
- Topic 7: Property Disclosures: This section measures skills of licensees and brokers and covers seller property condition disclosures, situations requiring inspections, environmental and government disclosure requirements, and disclosure of material facts and defects affecting the property.
- Topic 8: Property Management: This section measures skills of real estate professionals and covers property manager duties, including tenant procurement and qualification, fair housing and ADA compliance, market analysis for setting rents, maintenance, improvements, reporting, and risk management.
- Topic 9: Transfer of Title: This section measures skills of licensees and brokers and covers types of deeds, title insurance and searches, potential title problems, the closing process, recordation, settlement procedures, and special considerations in transferring foreclosed, short sale, or probate properties.
- Topic 10: Practice of Real Estate: This section measures skills of salespersons and brokers and covers antidiscrimination laws, including the Fair Housing Act and ADA, legislation and regulations regarding employment status, antitrust, Do-Not-Call rules, and social media use, duties and responsibilities for confidentiality, handling funds, due diligence, and broker supervisory responsibilities for licensees and employees.
- Topic 11: Real Estate Calculations: This section measures skills of real estate professionals and covers calculations for transactions, including seller net proceeds, buyer funds needed, prorations, transfer fees, PITI, and general concepts such as equity, rate of return, capitalization rate, loan-to-value ratio, discount points, and loan origination fees.
- Topic 12: Duties and Powers of the Real Estate Commission: This section measures skills of licensees and brokers and covers the general powers of the Commission, investigations, hearings, appeals, suspensions, revocations, penalties, Guaranty Fund, record examination, licensing requirements, and activities requiring a license.
- Topic 13: Brokerage Relationships: This section measures skills of licensees and brokers and covers listing agreements, disclosure of brokerage relationships and interest, conflict-of-interest disclosures, and supervision of licensees, including handling trust monies and recordkeeping requirements.
- Topic 14: Business Conduct: This section measures skills of real estate professionals and covers offers, commissions and rebates, advertising and signage, fair housing laws, summary suspensions or convictions, and ethics including unfair inducements and dealings with other licensees.
- Topic 15: Ethics: This section measures skills of licensees and brokers and covers ethical practices, compliance with regulations, and maintaining professional integrity in all transactions.
Free Real Estate Licensing Maryland-Real-Estate-Salesperson Exam Actual Questions
Note: Premium Questions for Maryland-Real-Estate-Salesperson were last updated On Feb. 24, 2026 (see below)
What type of ownership do most corporations use to hold real property?
Comprehensive and Detailed Explanation:
A corporation is a single legal entity, separate from its shareholders. When it holds title to real property, ownership is in severalty, meaning ''sole'' ownership by one legal person. Unlike joint tenancy or tenancy in common, there are no co-owners in severalty; the corporate entity alone holds all rights of ownership. This principle is highlighted in the ownership portion of the Maryland pre-licensing curriculum.
Maryland 60-Hour Principles and Practices Course -- ''Forms of Real Estate Ownership'' Topic; Maryland Real Property Article 1-101 (definition of person includes corporation).
Why is it important for a buyer to know if an underground storage tank is present on a property?
Comprehensive and Detailed Explanation:
Underground storage tanks (USTs), particularly older ones made of steel, may corrode and leak, releasing hazardous substances such as oil or fuel into the soil and groundwater.
Maryland environmental law and the 60-Hour Course emphasize that sellers must disclose known environmental hazards, and buyers should be aware of potential remediation costs.
The Maryland Department of the Environment (MDE) regulates USTs, requiring proper registration, maintenance, and closure procedures to prevent contamination.
Which of these is an example of a lot-and-block description?
Comprehensive and Detailed
A lot-and-block legal description identifies land within a recorded subdivision plat, referencing a specific lot number, block number, map book, and page filed with the county recorder. It's the most common method for urban and suburban properties in Maryland.
Choices B and D represent metes-and-bounds and rectangular survey systems, respectively; A is simply a street address.
Which of the following is a method a real estate licensee uses to determine an appropriate listing price range?
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
Only licensed or certified appraisers may perform an appraisal for a fee in a federally related transaction.
A real estate licensee, however, may prepare a Comparative Market Analysis (CMA) or Broker Price Opinion (BPO) to help a seller decide on a listing price or a buyer to make an offer.
A CMA compares recent sales, active listings, and expired listings of similar properties to estimate a realistic price range.
This procedure is emphasized in the ''Appraisal and Valuation'' module as a permitted pricing tool for real estate professionals.
Reference (Maryland Source):
-- Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course, Valuation and CMA section.
-- Business Occupations and Professions Article 17-511 (b).
What type of property is a condominium?
Comprehensive and Detailed
A condominium is a form of ownership, not a type of structure.
It typically consists of multiple units (multi-family or multi-unit buildings) in which each owner holds title to their individual unit and shares ownership of common areas (e.g., hallways, pools, grounds) through the condominium association.
This differs from a cooperative (co-op), where residents hold shares and a proprietary lease.
Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course -- ''Forms of Real Estate Ownership'' Module
Maryland Condominium Act, Real Property Article 11-101 et seq.
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