Real Estate Licensing Maryland Real Estate Salesperson Examination Maryland-Real-Estate-Salesperson Exam Questions

Answer : B

Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:

A land trust is a type of living trust in which real property is the only asset placed into the trust.

Under a land trust, the trustee (fiduciary) holds legal title to the property, while the beneficiary retains the rights to control, manage, and receive income or proceeds from the property.

The Maryland pre-licensing course explains that land trusts are commonly used for privacy, estate planning, and avoiding probate, since the property is owned and transferred through the trust rather than by individual deed.

Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course -- ''Forms of Real Estate Ownership'' Module

Maryland Trust Act (Estates and Trusts Article, Title 14.5 -- Trusts).

Answer : B

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.

Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course -- ''Real Estate Brokerage Operations'' Module

Federal Housing Administration (FHA) and HUD Foreclosure Sales Guidelines.

Answer : C

Comprehensive and Detailed Explanation:

The Multiple Listing Service (MLS) is a cooperative online database used by licensed real estate professionals to share information about properties for sale or lease. It includes active, pending/under-contract, sold, expired, and withdrawn listings. The MLS enhances market transparency and cooperation among brokers, ensuring accurate data and broad property exposure.

Answer : A

Comprehensive and Detailed Explanation:

When personal property (chattel) is physically attached to real property in such a way that it becomes part of the real estate, it becomes a fixture. Fixtures transfer with the property upon sale unless specifically excluded in the contract. The determination depends on attachment, adaptation, and intent. Maryland's course addresses fixtures under ''Real Property and the Law,'' emphasizing how they affect ownership and conveyance.

Maryland 60-Hour Principles and Practices Course -- ''Real Property and the Law'' Topic; Maryland Real Property Article 1-101(b).

Answer : B

Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:

Maryland law prohibits self-help eviction, which occurs when a landlord takes direct action---such as locking out a tenant or removing their belongings---without a court order.

Only a sheriff or court-appointed officer may evict a tenant following a court judgment for possession.

A landlord who locks out a tenant to recover rent is acting illegally, even if rent is overdue.

This topic is addressed in the Leasing and Property Management module of the pre-licensing course.

Reference (Maryland Source):

-- Maryland 60-Hour Principles and Practices Course, Landlord-Tenant Law section.

-- Real Property Article 8-216 -- Prohibited Acts of Landlord (Self-Help Eviction).

Answer : C

Comprehensive and Detailed Explanation:

A condominium is a form of ownership, not a type of structure.

It typically consists of multiple units (multi-family or multi-unit buildings) in which each owner holds title to their individual unit and shares ownership of common areas (e.g., hallways, pools, grounds) through the condominium association.

This differs from a cooperative (co-op), where residents hold shares and a proprietary lease.

Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course -- ''Forms of Real Estate Ownership'' Module

Maryland Condominium Act, Real Property Article 11-101 et seq.

Answer : B

Comprehensive and Detailed Explanation:

A legal description precisely identifies a parcel of real estate so it can be uniquely located and distinguished from other property. In Maryland, deeds typically include one of several accepted types of legal descriptions: metes and bounds, lot and block, or rectangular survey (where applicable).

Metes and bounds describe the property boundaries using directions, distances, and reference points (monuments).

This ensures that the property can be clearly identified for conveyance and recording purposes.

Items such as the county clerk's name, developer name, or title abstract are not part of the deed's legal description.

Maryland 60-Hour Principles and Practices Course -- ''Transfer of Title'' Topic; Maryland Real Property Article 4-101 et seq. (Requirements for Valid Deeds).