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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: National Portion | 73% | - Financing
|
| Topic 2: Maryland State Portion | 27% | - Brokerage Relationships
|
1. Why would a buyer want to know whether any additions or alterations were made to a property?
A) So the buyer can remove these items prior to closing
B) So the buyer can decide whether a price reduction is in order
C) So the buyer can determine if permits were pulled
D) So the buyer can use the same contractor for additional additions and alterations
2. In what type of agency does a licensee have limited authority to act on behalf of a client buying or selling a property?
A) A universal agent
B) A designated agent
C) A special agent
D) A general agent
3. Real property ownership may offer significant tax advantages. Which one of the following is a potential advantage?
A) Depreciation
B) Taxable gains
C) Insurance expenses
D) Transfer tax
4. Species habitat, beauty, erosion control, and pollution treatment are all reasons why wetlands are __________.
A) Protected
B) Not valuable resources
C) Developed
D) Not regulated
5. How does discrimination still occur, even though it's illegal?
A) Discrimination makes good business sense.
B) Discrimination is often not visible to the public.
C) Discrimination is human nature.
D) Not all laws make sense.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: C | Question # 3 Answer: A | Question # 4 Answer: A | Question # 5 Answer: B |
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