Maryland Real Estate Salesperson 시험 - Real Estate실제시험문제와 답 - 88문항

Question No : 1

Which of the following best describes the concept of appreciation?

A.When a property's value increases as a result of capital improvements.
B.When losses are deducted from a property's value for tax purposes.
C.When the value of a property decreases over time.
D.When the value of a property increases over time.

정답:
Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
Appreciation refers to the increase in a property's value over time due to factors such as market demand, improvements, inflation, or location desirability.
It is the opposite of depreciation, which is a decline in value. Appreciation may result from physical improvements (e.g., renovations) or external factors (e.g., neighborhood development).
This concept is emphasized in the Maryland 60-Hour Course within the “Real Estate Appraisal and Valuation” module as a key element of market analysis and investment potential.
Reference: Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course C “Real Estate Appraisal and Valuation” Module
Federal Appraisal Guidelines C Market Value Concepts.

Question No : 2

What does REO stand for?

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

정답:
Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
REO stands for Real Estate-Owned. This term refers to properties that have gone through the foreclosure process and are now owned by the lender―usually a bank or mortgage company― because the property did not sell at the foreclosure auction.
These properties become part of the lender’s real estate inventory and are often sold through REO departments or asset managers. The Maryland pre-licensing course includes REO properties under “Real Estate Brokerage Operations,” explaining how real estate professionals handle and market foreclosed or bank-owned properties.
Reference: Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course C “Real Estate Brokerage Operations” Module
Federal Housing Administration (FHA) and HUD Foreclosure Sales Guidelines.

Question No : 3

Kip is a sub-agent working with a buyer customer, Charlie, for Sheila's listing of May's property. To whom does Kip owe his loyalty?

A.Charlie
B.May
C.Sheila and Charlie
D.Sheila and May

정답:
Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
In a sub-agency relationship, the cooperating licensee (sub-agent) works with a buyer but represents the seller, not the buyer.
Kip, as a sub-agent, owes fiduciary duties of loyalty, obedience, confidentiality, and disclosure to the seller (May), the same client represented by Sheila, the listing agent.
The buyer, Charlie, is treated as a customer, not a client, meaning no fiduciary obligations exist beyond honesty and fair dealing.
This principle is covered in Maryland’s Law of Agency and Brokerage Operations modules.
Reference (Maryland Source):
C Maryland 60-Hour Principles and Practices Course, Agency Relationships and Sub-Agency sections.
C Business Occupations and Professions Article §17-530 C §17-534.

Question No : 4

What is one drawback of sub-agency from a listing broker's standpoint?

A.Both parties must agree to dual agency.
B.The listing broker and listing agent can be liable for the sub-agent's actions.
C.The listing broker will have to pay two agents' commissions.
D.There aren't any drawbacks.

정답:
Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
Under sub-agency, a cooperating broker or licensee assists the listing broker in selling the property and represents the seller as a sub-agent of the listing broker.
A key drawback is that the listing broker is legally responsible for the sub-agent’s actions because the sub-agent owes fiduciary duties to the same principal (the seller).
Any misrepresentation, negligence, or violation by the sub-agent can expose the listing broker to disciplinary action or civil liability.
This is why many Maryland brokers now prefer buyer agency over sub-agency.
Reference (Maryland Source):
C Maryland 60-Hour Principles and Practices Course, Agency Relationships and Sub-Agency section.
C Business Occupations and Professions Article §17-534.

Question No : 5

A statement such as "This is a dream home with the best views in town" made by a licensee is an example of what?

A.A lie
B.Intentional misrepresentation
C.Positive misrepresentation
D.Puffery

정답:
Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
Puffery refers to subjective statements of opinion or sales talk that a reasonable person would not take as a factual representation.
Phrases like “best views,” “dream home,” or “finest neighborhood” are considered puffing, not misrepresentation.
Maryland’s pre-licensing course distinguishes puffery (legally permissible) from misrepresentation, which involves false statements of material fact that can lead to disciplinary action or liability.
Reference (Maryland Source):
C Maryland 60-Hour Principles and Practices Course, Ethical Conduct and Misrepresentation section.
C Maryland Business Occupations and Professions Article §17-322 (Grounds for Disciplinary Action).

Question No : 6

Why was the Civil Rights Act of 1866 monumental among fair housing and antidiscrimination laws?

A.It abolished slavery.
B.It added sexual orientation as a protected class.
C.It provided no exceptions for discrimination based on race or color.
D.It was adopted by the United Nations.

정답:
Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
The Civil Rights Act of 1866 was the first federal law to address discrimination in housing and property rights. It declares that all U.S. citizens shall have the same rights as white citizens to inherit, purchase, lease, sell, hold, and convey real and personal property, regardless of race or color.
Unlike later fair housing laws, this Act includes no exemptions―it applies to all property transactions, public or private.
This law is a foundation of modern fair housing legislation, and its absolute prohibition on racial discrimination still applies today.
Reference (Maryland Source):
C Maryland 60-Hour Principles and Practices Course, Fair Housing and Ethics section.
C Civil Rights Act of 1866, 42 U.S.C. §1982.

Question No : 7

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.Bracketing
B.Competition
C.Correlation
D.Substituting

정답:
Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
Bracketing is an appraisal technique used in the sales comparison approach.
An appraiser selects comparables (“comps”) that are both superior and inferior to the subject property in key features (size, amenities, condition, etc.) to ensure the subject’s value falls within a supported range.
This method provides a balanced and realistic market value estimate.
The Maryland pre-licensing course explains bracketing in the “Real Estate Appraisal and Valuation” section to prepare students for both state and national exam questions on comparative analysis.
Reference: Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course C “Real Estate Appraisal and Valuation” Module
Uniform Standards of Professional Appraisal Practice (USPAP) C Sales Comparison Approach Guidance.

Question No : 8

Why are legal descriptions required in real estate contracts?

A.To calculate the exact property taxes owed by the new owner
B.To ensure the piece of property can be clearly identified from all other properties
C.To establish the legal boundaries for future construction on the property
D.To guarantee the buyer is receiving the exact property they believe they are purchasing

정답:
Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
A legal description uniquely identifies a parcel of real estate so it can be distinguished from every other property.
In Maryland, contracts and deeds must contain a valid legal description, such as:
Metes and bounds,
Lot and block, or
Rectangular survey (government survey).
This ensures the transfer is legally enforceable and leaves no ambiguity about what property is being conveyed.
Without a legal description, a real estate contract or deed may be deemed invalid or unenforceable in court.
Reference: Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course C “Real Property and the Law” Module
Maryland Real Property Article §3-101 C Formal Requisites of Instruments of Conveyance.

Question No : 9

How does the building department ensure that a builder who has obtained a permit builds according to code?

A.The builder is required to submit to weekly inspections performed by peers in the industry.
B.The builder signs an affidavit to that effect.
C.The builder submits a monthly progress report.
D.The building department sends inspectors to inspect the work.

정답:
Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
Once a building permit is issued, the local building department monitors the construction process through inspections at key stages (foundation, framing, electrical, plumbing, final).
The purpose of these inspections is to ensure that work complies with state and local building codes and safety standards.
Maryland’s pre-licensing course explains that certified building inspectors―not peers or the builder―conduct these inspections.
Only after passing all required inspections will the department issue a certificate of occupancy (CO) confirming code compliance and permitting lawful use of the structure.
Reference: Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course C “Land Use Controls
and Property Development” Module
Maryland Building Performance Standards (COMAR Title 09, Subtitle 12, Chapter 51).

Question No : 10

When operating under a power of attorney concerning the transfer of real property, who may sign in place of the principal?

A.Agent
B.County clerk
C.Grantee
D.Principal

정답:
Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
A power of attorney (POA) is a legal document authorizing one person (the agent or attorney-in-fact) to act on behalf of another person (the principal) in specified matters.
When it comes to transferring real property, a valid, notarized, and recorded power of attorney gives the agent the authority to sign all necessary documents in place of the principal.
The Maryland 60-Hour Course explains this under “Transfer of Title,” emphasizing that all signatures
must be properly acknowledged to be legally enforceable, and the power of attorney must be recorded with the deed.
Reference: Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course C “Transfer of Title” Module
Maryland Real Property Article §4-107 C Execution by Attorney-in-Fact; Power of Attorney Requirements.

Question No : 11

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.Commercial income-producing properties are depreciated longer (39 years) than residential income-producing properties (27.5 years) are.
C.Residential income-producing properties are depreciated longer (39 years) than commercial income-producing properties (27.5 years) are.
D.You cannot depreciate income-producing properties.

정답:
Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
Under the Internal Revenue Code (IRC §168), depreciation is a method for recovering the cost of income-producing property over time.
Residential income-producing properties (such as apartment buildings) are depreciated over 27.5 years.
Commercial income-producing properties (such as office buildings) are depreciated over 39 years.
These timelines are based on the Modified Accelerated Cost Recovery System (MACRS) used for tax purposes.
This concept is included in the Maryland Pre-Licensing Course within the Appraisal and Valuation section, to ensure licensees understand property valuation and investment considerations.
Reference: Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course C “Real Estate Appraisal and Valuation” Module
Internal Revenue Code §168 C MACRS Depreciation Rules.

Question No : 12

Once signed, the listing agreement is a legally binding contract between

A.The buyer and seller
B.The buyer’s agent and seller
C.The listing broker and seller
D.The seller and lender

정답:
Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
A listing agreement is a legally binding contract that establishes an agency relationship between the seller (client) and the listing broker (agent).
The agreement authorizes the broker to market the property and represent the seller’s interests in finding a ready, willing, and able buyer.
While the salesperson may work directly with the seller, the contractual relationship exists between the broker and the seller―not the individual licensee.
This principle is emphasized in the Maryland course under “Listing Agreements and Buyer Representation.”
Reference: Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course C “Listing Agreements and Buyer Representation” Module
Md. Business Occupations and Professions Article §17-532 C Agency Relationship Between Broker and Client.

Question No : 13

What regulation or regulatory authority identifies sites that have hazardous substances, and requires the responsible parties to clean them up?

A.Comprehensive Environmental Response, Compensation, and Liability Act
B.Department of Housing and Urban Development
C.State Department of Environmental Quality
D.The National Environmental Policy Act

정답:
Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
The Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), enacted in 1980 and commonly known as “Superfund,” authorizes the Environmental Protection Agency (EPA) to identify and clean up sites contaminated with hazardous substances.
CERCLA also establishes liability for potentially responsible parties (PRPs)―including current and past owners, operators, and those who arranged for disposal of hazardous substances.
Maryland’s pre-licensing course covers CERCLA as a federal regulation that affects real estate transactions involving contaminated properties, as buyers and sellers must be aware of any cleanup responsibilities before transfer.
Reference: Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course C “Environmental Issues and Disclosures” Module
Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S.C. §9601 et seq.).

Question No : 14

Why would a buyer want to know whether any additions or alterations were made to a property?

A.So the buyer can decide whether a price reduction is in order
B.So the buyer can determine if permits were pulled
C.So the buyer can remove these items prior to closing
D.So the buyer can use the same contractor for additional additions and alterations

정답:
Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
In Maryland, buyers have the right to receive full disclosure of any additions, alterations, or improvements made to a property. This is crucial because such modifications may have required building permits and inspections under state and local building codes.
A buyer wants to know whether permits were obtained to ensure that:
The work was done legally and safely,
It meets local code requirements, and
There are no future liability or resale issues.
Unpermitted work can lead to enforcement actions or costly repairs. The Maryland Property Disclosure and Disclaimer Statement (per Real Property §10-702) requires sellers to disclose known material defects or improvements.
Reference: Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course C “Environmental Issues and Disclosures” Module
Maryland Real Property Article §10-702 C Residential Property Disclosure and Disclaimer Requirements.

Question No : 15

How can a licensee avoid crossing the line into unauthorized legal advice when explaining contract provisions?

A.By advising the client on landlord/tenant responsibilities
B.By describing the legal implications of contract clauses in detail
C.By drafting new contract language to suit the client’s needs
D.By explaining the general purpose of the contract clause without interpreting its legal impact

정답:
Explanation:
Comprehensive and Detailed Explanation
Licensees are permitted to explain the purpose and factual content of real estate contracts but may not interpret legal implications or draft custom clauses, which constitutes the unauthorized practice of law. The Maryland course teaches that to stay compliant, a salesperson should explain what a clause does in general terms and refer clients to a licensed attorney for legal interpretation.
Reference: Maryland 60-Hour Principles and Practices C “Real Estate Contracts”; Maryland Real Estate Brokers Act, §17-322 C Prohibited Acts (Unauthorized Practice of Law).

Real Estate Maryland Real Estate Salesperson 시험