MARYLAND TAX PREPARER
PRACTICE TEST WITH CORRECT
ANSWERS 2026 UPDATE | INSTANT
PDF DOWNLOAD
Which of these documents does NOT establish an agency relationship
between a client and a licensee?
Brokerage agreement
Buyer representation agreement
Listing agreement
Purchase agreement - SELECTED ANSWER 👀** Purchase agreement
Under what circumstances can a buyer representation agreement be
terminated early in Maryland?
If the buyer finds another buyer to replace them.
If the buyer finds out that their agent is representing other buyers.
If the buyer notifies the agent in writing that they have a contract on a
home found for them by another broker.
, Per the early cancellation provision agreed to by both the broker and the
client as listed in the agreement. - SELECTED ANSWER 👀** Per the early
cancellation provision agreed to by both the broker and the client as listed
in the agreement.
You (a Maryland licensee) represent April, the seller, who is your Uncle
Clyde's girlfriend. You receive an offer from Barry on behalf of a
prospective buyer. Whose interests do you represent, and in what order?
April's first, then Clyde's, then Barry's
Clyde's first, then April's, but not Barry's
Only April's
Your Uncle Clyde's first, then April's, then Barry's - SELECTED ANSWER
👀** Only April's
Adesha made an offer on a three-bedroom townhouse in Hanover on April
5. The sellers accepted her offer on April 6, and all signatures were
finalized by April 7. Adesha still hasn't received the property
disclosure/disclaimer statement. Until when can Adesha rescind the
contract without penalty?
April 12
April 14
April 17
At any time before she receives the disclosure/disclaimer statement -
SELECTED ANSWER 👀** At any time before she receives the
disclosure/disclaimer statement
,Mark lives in Maryland and purchased property in Pennsylvania. His real
estate agent gave him poor advice, which cost him $52,000. Which of the
following is true?
Mark can file a claim with the Guaranty Fund, but he can only recover
$50,000 of his loss.
Mark can file a claim with the Guaranty Fund to recover his loss.
Mark can file a claim with the Guaranty Fund to recover his loss, but only
after he has exhausted other methods.
Mark cannot file a claim with the Guaranty Fund because the property
purchased was in Pennsylvania. - SELECTED ANSWER 👀** Mark cannot
file a claim with the Guaranty Fund because the property purchased was in
Pennsylvania.
MREC received a complaint from Rose, stating that licensee Stan had
placed a sign on her property without her permission. As a result, she
received a $250 fine from her homeowners association for illegal signage.
MREC notified Stan and his broker about the complaint, and Stan's broker
responded by sending a copy of an email from Rose, stating that the firm
could have a sign installed. As a result, the hearing panel dismissed the
claim. What can Rose do now? - SELECTED ANSWER 👀** Since the
hearing panel found no merit to Rose's case, it's rejected the claim, and
Rose may not file an appeal. Guaranty Fund claims are considered
separately, but only actual monetary damages may be claimed.
Stanley, a broker, received notice from the Maryland Real Estate
Commission that it was summarily suspending his license. What's the most
likely reason that his license was immediately suspended?
, He didn't provide the commission with trust account records.
He failed to pay his license renewal fee on time.
He failed to report that he was charged with a misdemeanor last week.
He held onto an earnest money check until the offer had been accepted. -
SELECTED ANSWER 👀** He didn't provide the commission with trust
account records.
Rumi was on vacation in St. Croix when he received a written offer, via
email, for his seller client's property, which had been on the market for two
months with no offers. He decided to hold onto it until he got back a week
later, so he could present it to his client in person. The next day, his seller
client called Rumi's office to cancel the listing. When Rumi told the former
client that he'd had an offer, she complained to MREC about him. What are
the possible penalties Rumi could face?
He could be disciplined by the commission and receive a possible lawsuit
for intentional interference.
None; since the client cancelled the listing, Rumi is not at fault.
Rumi could be subject to disciplinary action from local board of
REALTORS®.
PRACTICE TEST WITH CORRECT
ANSWERS 2026 UPDATE | INSTANT
PDF DOWNLOAD
Which of these documents does NOT establish an agency relationship
between a client and a licensee?
Brokerage agreement
Buyer representation agreement
Listing agreement
Purchase agreement - SELECTED ANSWER 👀** Purchase agreement
Under what circumstances can a buyer representation agreement be
terminated early in Maryland?
If the buyer finds another buyer to replace them.
If the buyer finds out that their agent is representing other buyers.
If the buyer notifies the agent in writing that they have a contract on a
home found for them by another broker.
, Per the early cancellation provision agreed to by both the broker and the
client as listed in the agreement. - SELECTED ANSWER 👀** Per the early
cancellation provision agreed to by both the broker and the client as listed
in the agreement.
You (a Maryland licensee) represent April, the seller, who is your Uncle
Clyde's girlfriend. You receive an offer from Barry on behalf of a
prospective buyer. Whose interests do you represent, and in what order?
April's first, then Clyde's, then Barry's
Clyde's first, then April's, but not Barry's
Only April's
Your Uncle Clyde's first, then April's, then Barry's - SELECTED ANSWER
👀** Only April's
Adesha made an offer on a three-bedroom townhouse in Hanover on April
5. The sellers accepted her offer on April 6, and all signatures were
finalized by April 7. Adesha still hasn't received the property
disclosure/disclaimer statement. Until when can Adesha rescind the
contract without penalty?
April 12
April 14
April 17
At any time before she receives the disclosure/disclaimer statement -
SELECTED ANSWER 👀** At any time before she receives the
disclosure/disclaimer statement
,Mark lives in Maryland and purchased property in Pennsylvania. His real
estate agent gave him poor advice, which cost him $52,000. Which of the
following is true?
Mark can file a claim with the Guaranty Fund, but he can only recover
$50,000 of his loss.
Mark can file a claim with the Guaranty Fund to recover his loss.
Mark can file a claim with the Guaranty Fund to recover his loss, but only
after he has exhausted other methods.
Mark cannot file a claim with the Guaranty Fund because the property
purchased was in Pennsylvania. - SELECTED ANSWER 👀** Mark cannot
file a claim with the Guaranty Fund because the property purchased was in
Pennsylvania.
MREC received a complaint from Rose, stating that licensee Stan had
placed a sign on her property without her permission. As a result, she
received a $250 fine from her homeowners association for illegal signage.
MREC notified Stan and his broker about the complaint, and Stan's broker
responded by sending a copy of an email from Rose, stating that the firm
could have a sign installed. As a result, the hearing panel dismissed the
claim. What can Rose do now? - SELECTED ANSWER 👀** Since the
hearing panel found no merit to Rose's case, it's rejected the claim, and
Rose may not file an appeal. Guaranty Fund claims are considered
separately, but only actual monetary damages may be claimed.
Stanley, a broker, received notice from the Maryland Real Estate
Commission that it was summarily suspending his license. What's the most
likely reason that his license was immediately suspended?
, He didn't provide the commission with trust account records.
He failed to pay his license renewal fee on time.
He failed to report that he was charged with a misdemeanor last week.
He held onto an earnest money check until the offer had been accepted. -
SELECTED ANSWER 👀** He didn't provide the commission with trust
account records.
Rumi was on vacation in St. Croix when he received a written offer, via
email, for his seller client's property, which had been on the market for two
months with no offers. He decided to hold onto it until he got back a week
later, so he could present it to his client in person. The next day, his seller
client called Rumi's office to cancel the listing. When Rumi told the former
client that he'd had an offer, she complained to MREC about him. What are
the possible penalties Rumi could face?
He could be disciplined by the commission and receive a possible lawsuit
for intentional interference.
None; since the client cancelled the listing, Rumi is not at fault.
Rumi could be subject to disciplinary action from local board of
REALTORS®.
