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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. At the end of this month, Evy will have been paying rent on her ground lease for 15 years. She's decided to give 30 days' notice to the landowner that she plans to buy out the lease. What type of ground lease does Evy have?

A) Irregular ground lease
B) Regular ground lease
C) Redeemable ground lease
D) Irredeemable ground lease

2. What's the primary purpose of bulk zoning?

A) To keep like properties together
B) To restrict density
C) To increase density
D) To allow warehouse facilities in residential areas

3. In terms of encumbrances, what's a license?

A) Permission to alter someone's land or property
B) Permission without possession, interest, or ownership
C) Permission to do something on another's land while also possessing an interest or ownership in the land
D) Process by which a non-owner gains possession of a property after a certain amount of time

4. Real property ownership may offer significant tax advantages. Which one of the following is a potential advantage?

A) Taxable gains
B) Insurance expenses
C) Depreciation
D) Transfer tax

5. Appraiser Niles uses ________ to determine a range of values based on comparing a subject property to comparable sales. He makes sure to use some comparables that lack features of his subject property, and others that have even more desirable features, to balance out the comparison.

A) Correlation
B) Substituting
C) Competition
D) Bracketing

Solutions: