Maryland
Real Estate Salesperson
Final Assessment (Qns & Ans)
2025
General Instructions
1. Read All Questions Carefully: Make sure you understand each question.
2. Time Management: You have a specific amount of time to complete the exam.
Keep an eye on the clock and pace yourself.
3. Allowed Materials: Only use materials that are explicitly allowed. Unauthorized
materials can lead to disqualification.
4. ANS Format: Follow the required format for your ANS. For example, multiple-
choice questions might need you to select the best ANS, while essay questions
require detailed responses.
5. Academic Integrity: Adhere to the university's honor code. Any form of cheating or
plagiarism is strictly prohibited.
6. Technical Requirements: Ensure your computer and internet connection are
stable. For online exams, you might need a webcam and microphone for proctoring
purposes.
7. Submission: Submit your ANS before the time expires. Late submissions might
not be accepted.
©2024/2025
,1. Which of the following strategies is a form of risk avoidance?
- A) Purchasing insurance
- B) Diversifying investments
- C) Choosing not to engage in a risky transaction
- D) Implementing safety protocols
ANS: C) Choosing not to engage in a risky transaction
2. What is the primary purpose of a risk assessment in real
estate?
- A) To increase property values
- B) To identify potential risks and mitigate them
- C) To enhance aesthetics
- D) To comply with local zoning laws
ANS: B) To identify potential risks and mitigate them
3. In risk management, what does the term 'risk transfer'
commonly refer to?
- A) Selling property to a third party
- B) Purchasing insurance to cover potential losses
©2024/2025
, - C) Delegating tasks to another individual
- D) Changing the terms of a contract
ANS: B) Purchasing insurance to cover potential losses
Contract Law
4. Which element is essential for the formation of a legally
binding contract?
- A) Witness signatures
- B) Mutual consent
- C) Notarization
- D) Detailed descriptions of each party’s obligations
ANS: B) Mutual consent
5. What type of contract is unenforceable due to the lack of
consideration?
- A) Express contract
- B) Implied contract
- C) Executed contract
- D) Gratuitous promise
ANS: D) Gratuitous promise
©2024/2025
, 6. In real estate transactions, which of the following contracts is
typically required to be in writing to be enforceable?
- A) Oral agreements
- B) Lease agreements longer than one year
- C) Purchase agreements under $500
- D) Verbal negotiations
ANS: B) Lease agreements longer than one year
The Code of Ethics, Buyer Representation, and Your Value
Proposition
7. Which principle is primarily addressed by the National
Association of Realtors' Code of Ethics?
- A) Profit maximization
- B) Fairness and honesty in dealings
- C) Competition among agents
- D) Strict adherence to local laws
ANS: B) Fairness and honesty in dealings
8. When representing a buyer, what is considered your primary
duty?
©2024/2025
Real Estate Salesperson
Final Assessment (Qns & Ans)
2025
General Instructions
1. Read All Questions Carefully: Make sure you understand each question.
2. Time Management: You have a specific amount of time to complete the exam.
Keep an eye on the clock and pace yourself.
3. Allowed Materials: Only use materials that are explicitly allowed. Unauthorized
materials can lead to disqualification.
4. ANS Format: Follow the required format for your ANS. For example, multiple-
choice questions might need you to select the best ANS, while essay questions
require detailed responses.
5. Academic Integrity: Adhere to the university's honor code. Any form of cheating or
plagiarism is strictly prohibited.
6. Technical Requirements: Ensure your computer and internet connection are
stable. For online exams, you might need a webcam and microphone for proctoring
purposes.
7. Submission: Submit your ANS before the time expires. Late submissions might
not be accepted.
©2024/2025
,1. Which of the following strategies is a form of risk avoidance?
- A) Purchasing insurance
- B) Diversifying investments
- C) Choosing not to engage in a risky transaction
- D) Implementing safety protocols
ANS: C) Choosing not to engage in a risky transaction
2. What is the primary purpose of a risk assessment in real
estate?
- A) To increase property values
- B) To identify potential risks and mitigate them
- C) To enhance aesthetics
- D) To comply with local zoning laws
ANS: B) To identify potential risks and mitigate them
3. In risk management, what does the term 'risk transfer'
commonly refer to?
- A) Selling property to a third party
- B) Purchasing insurance to cover potential losses
©2024/2025
, - C) Delegating tasks to another individual
- D) Changing the terms of a contract
ANS: B) Purchasing insurance to cover potential losses
Contract Law
4. Which element is essential for the formation of a legally
binding contract?
- A) Witness signatures
- B) Mutual consent
- C) Notarization
- D) Detailed descriptions of each party’s obligations
ANS: B) Mutual consent
5. What type of contract is unenforceable due to the lack of
consideration?
- A) Express contract
- B) Implied contract
- C) Executed contract
- D) Gratuitous promise
ANS: D) Gratuitous promise
©2024/2025
, 6. In real estate transactions, which of the following contracts is
typically required to be in writing to be enforceable?
- A) Oral agreements
- B) Lease agreements longer than one year
- C) Purchase agreements under $500
- D) Verbal negotiations
ANS: B) Lease agreements longer than one year
The Code of Ethics, Buyer Representation, and Your Value
Proposition
7. Which principle is primarily addressed by the National
Association of Realtors' Code of Ethics?
- A) Profit maximization
- B) Fairness and honesty in dealings
- C) Competition among agents
- D) Strict adherence to local laws
ANS: B) Fairness and honesty in dealings
8. When representing a buyer, what is considered your primary
duty?
©2024/2025
