Practice Maryland-Real-Estate-Salesperson Exam Online

Question 1

The cost approach to finding an appraised value measures which of the following?

A : The cost to acquire land and construct a reproduction

B : The cost to acquire land only

C : The cost to construct a reproduction only

D : The expenses the property is expected to produce for the owner

Answer: A

Question 2

When a client understands what dual agency is and agrees in writing to allow a firm to act as a dual agent for them in a real estate transaction, this is known as __.

A : Double dipping

B : Informed consent

C : Mutual agreement

D : Representation by proxy

Answer: B

Question 3

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.

Answer: D

Question 4

What must an agent do if they receive an undisclosed bonus from a seller to incentivize closing by a certain date?

A : The agent can accept the bonus without any disclosure requirements.

B : The agent must disclose the bonus to any buyers they are working with on the transaction.

C : The agent should keep the bonus confidential and not inform the broker.

D : The agent should pay the bonus to the broker.

Answer: B

Question 5

Assume you are a licensee in Maryland who has recently entered into an agreement with a seller to represent their interests in a real estate transaction. At what point are you required to provide a potential buyer with the agency disclosure notice?

A : After the buyer deposits the earnest money in escrow

B : After the seller accepts the buyer's offer

C : At your first scheduled face-to-face meeting with the buyer about the seller's property

D : When the buyer asks you to represent them as well

Answer: C

Name:	MD Salesperson - National and State Portion
Exam Code:	Maryland-Real-Estate-Salesperson
Certification:	Maryland Real Estate Licensing
Vendor:	Maryland Real Estate Commission
Total Questions:	101
Last Updated:	Jul 13, 2026

Maryland Real Estate Commission Maryland-Real-Estate-Salesperson Answers