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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: National Portion | 80% | - Property Disclosures
|
| Topic 2: Maryland State Portion | 30% | - Licensure Requirements
|
1. What's a certified opinion or estimate of value of a particular property as of a particular date?
A) Assessment
B) Appraisal
C) Evaluation
D) Inspection
2. In which type of lease does the tenant pay some or all expenses separately?
A) Percentage lease
B) Sublease
C) Gross lease
D) Net lease
3. Ralph leases 1,000 square feet in a large warehouse. The lease agreement requires him to pay portions of the landlord's taxes, insurance, and maintenance, in addition to the amount he pays to lease the space. What type of lease does Ralph have?
A) Percentage lease
B) Operating stop lease
C) Gross lease
D) Triple net lease
4. Dan is buying Chuck's property, which is listed with Nevin's brokerage. Who are the parties to the exclusive right-to-sell listing agreement?
A) Chuck and Nevin's brokerage
B) Dan and Nevin
C) Dan and Chuck
D) Dan, Chuck, and Nevin
5. In the conveyance of real property after death, what takes precedent over any terms specified in the deceased person's will?
A) Intestate
B) Operation of law
C) Nothing
D) Heirs' wishes
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: D | Question # 3 Answer: D | Question # 4 Answer: A | Question # 5 Answer: B |
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