Real Estate Certification Exams Pack
Everything from Basic, plus:
- Exam Name: Maryland Real Estate Salesperson Examination
- 209 Questions Answers with Explanation Detail
- Total Questions: 209 Q&A's
- Single Choice Questions: 209 Q&A's
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When a local planning board is reviewing density, it would consider ______.
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D
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Explanation
In subdivision and zoning review, density is evaluated using physical and regulatory site controls—minimum lot size, setbacks, yard requirements, lot coverage, height limits, open space ratios, and boundaries—to determine how many dwelling units may be placed per acre and how they’re arranged. While property values and federal approvals can be relevant to other processes, density determinations rest primarily on local zoning metrics such as setbacks and boundaries. [References: Maryland 60-Hour Principles and Practices of Real Estate — Land Use Controls and Property Development: zoning and subdivision regulations; density, lot size, setbacks, coverage, and open-space requirements; local planning board review criteria., , ]
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Which of the following best describes the concept of appreciation?
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D
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Explanation
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 – “Real Estate Appraisal and Valuation” Module, Federal Appraisal Guidelines – Market Value Concepts., , , ]
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What items go into the seller's credit column and the buyer's debit column when calculating prorations?
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B
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Explanation
In settlement prorations, prepaid items (e.g., prepaid property taxes or HOA dues) are credited to the seller and debited to the buyer, because the seller has paid for a period that extends beyond the closing date, and the buyer reimburses the seller for the buyer’s post-closing share. Conversely, accrued but unpaid items (e.g., the current year’s unpaid property taxes) are debited to the seller and credited to the buyer. The Maryland course teaches these conventions in the Closing and Math sections. [References:, Maryland 60-Hour Principles & Practices Course — Closing the Real Estate Transaction (settlement statements, prorations) and Math for Real Estate modules., , ]
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