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Blaire apparently hasn't learned her lesson. She paid a $5,000 penalty when
MREC found her guilty of misrepresentation, a $10,000 penalty when she was
found guilty of placing a for sale sign in someone's yard without permission,
and now she's committed three more violations by placing a series of
discriminatory ads. What's the maximum penalty MREC can levy for these
new violations?
75,000
Damon lives in Frederick but is affiliated with a broker in downtown Baltimore.
He'd like to affiliate with a broker closer to home but doesn't want to sever his
relationship with his
current broker. What needs to happen in order for Damon to be able to
work for both brokerages?
Both brokers need to send a letter to the commission stating their approval of
the arrangement and that there is no conflict of interest.
Tiara's Maryland salesperson's license is going to expire next week if she doesn't
complete all of the required continuing education hours. She's completed
three hours of agency, three hours of legislative updates, 1.5 hours of fair
housing, and three hours of
electives. What other coursework does she need to complete in order to
renew her license?
Three hours of ethics (including professionalism) and 1.5 more hours of electives
,In addition to your name, what must be included in any advertising?
Designated name of your brokerage firm
Kent's seller client's home just went under contract on Tuesday. Just as he's hanging
the
"under contract" sign in the yard, he gets an email alert from a different buyer's
agent with a new offer attached. What should Kent do with the offer?
Present it to his client.
Ben and Leslie received their finalized purchase contract on April 10, just
moments after the sellers put their final signatures on it. Ben and Leslie
decided that since the home they're buying was built in 1920, they'd like to
have it inspected for lead-based paint.
When is the latest that the couple can have the inspection performed if they
want to be able to back out of the contract?
April 20
Which of the following does NOT qualify as a ministerial act under Maryland law?
Offering earnest money deposit advice
Which of the following is NOT a penalty that the Maryland Real Estate
Commission may impose upon a licensee who violated the Maryland Code of
Ethics?
Jail time
For sale signs on ground rent properties that show the price of the property
must also state which of the following?
Annual ground rent plus the full cost of capitalization
,Shelby listed her seller client's condo on April 4. It went under contract May 16.
That
contract fell through on May 29. The listing agreement expired on July 4, with
no other offers or contracts. On what date does the five-year record-retention
clock start ticking?
July 4
Jerry is a new licensee and he's excited to be creating some advertising. When
he does this, what must he remember about including his brokerage's
designated name in his advertising?
The brokerage's designated business name must be meaningfully and
conspicuously present.
Fresh out of community college and newly licensed as a real estate
salesperson, Ben just took on a short sale as his first listing. Ben told his broker,
Janine, that he could handle the transaction and had just advised his seller client
that he could do it with minimal damage to the client's credit rating. Janine
immediately took Ben off the listing and assigned it to a more experienced
licensee. Why?
By predicting the seller's credit rating outcome, Ben crossed the line into
giving advice that requires additional licensure.
You're a real estate licensee in Maryland. You're walking through a property
with a new seller client. The seller tells you that the property is serviced by the
public sewer system, but when walking up the drive you noticed the access
hatch for a septic system. What
should you do?
Inquire about the homeowner's claim to ensure the property really is on public
sewer.
, Jason has completed 60 hours of Maryland pre-licensing real estate
education, met the minimum requirements, and passed his licensing
examination. What else does he need in order to receive an active license
when applying for licensure?
Affiliation with a supervising broker
Which of these payment structures is illegal in Maryland?
Dean, an unlicensed assistant, is paid an extra $50 each time he takes clients on a
showing on a licensee's behalf.
The Guaranty Fund paid a consumer's $15,000 claim because of licensee Ben's
negligence. Ben is breaking the news to his broker. How's his broker likely to
respond?
"Well, since this means your license is suspended, we'll see you back at the
office when you reimburse the fund."
Which of the following statements about counter-offers is true?
Once a counter-offer has been made, the prior offer is cancelled.
Ned is a Maryland listing agent who has learned of a material fact related to
the transaction. To whom and when must he disclose this information?
To all parties as soon as possible
Salesperson Katie represents seller Suzie in a transaction. Bob and Janine are
buying Suzie's home, and they're not represented. To whom does Katie need
to disclose her agency relationship using the Understanding Whom Real Estate
Agents Represent form?
Bob and Janine only
Complete Real Exam Questions And Correct
Answers (Verified Answers) Already Graded A+ |
Guaranteed Success!! Newest Exam | Just
Released!!
Blaire apparently hasn't learned her lesson. She paid a $5,000 penalty when
MREC found her guilty of misrepresentation, a $10,000 penalty when she was
found guilty of placing a for sale sign in someone's yard without permission,
and now she's committed three more violations by placing a series of
discriminatory ads. What's the maximum penalty MREC can levy for these
new violations?
75,000
Damon lives in Frederick but is affiliated with a broker in downtown Baltimore.
He'd like to affiliate with a broker closer to home but doesn't want to sever his
relationship with his
current broker. What needs to happen in order for Damon to be able to
work for both brokerages?
Both brokers need to send a letter to the commission stating their approval of
the arrangement and that there is no conflict of interest.
Tiara's Maryland salesperson's license is going to expire next week if she doesn't
complete all of the required continuing education hours. She's completed
three hours of agency, three hours of legislative updates, 1.5 hours of fair
housing, and three hours of
electives. What other coursework does she need to complete in order to
renew her license?
Three hours of ethics (including professionalism) and 1.5 more hours of electives
,In addition to your name, what must be included in any advertising?
Designated name of your brokerage firm
Kent's seller client's home just went under contract on Tuesday. Just as he's hanging
the
"under contract" sign in the yard, he gets an email alert from a different buyer's
agent with a new offer attached. What should Kent do with the offer?
Present it to his client.
Ben and Leslie received their finalized purchase contract on April 10, just
moments after the sellers put their final signatures on it. Ben and Leslie
decided that since the home they're buying was built in 1920, they'd like to
have it inspected for lead-based paint.
When is the latest that the couple can have the inspection performed if they
want to be able to back out of the contract?
April 20
Which of the following does NOT qualify as a ministerial act under Maryland law?
Offering earnest money deposit advice
Which of the following is NOT a penalty that the Maryland Real Estate
Commission may impose upon a licensee who violated the Maryland Code of
Ethics?
Jail time
For sale signs on ground rent properties that show the price of the property
must also state which of the following?
Annual ground rent plus the full cost of capitalization
,Shelby listed her seller client's condo on April 4. It went under contract May 16.
That
contract fell through on May 29. The listing agreement expired on July 4, with
no other offers or contracts. On what date does the five-year record-retention
clock start ticking?
July 4
Jerry is a new licensee and he's excited to be creating some advertising. When
he does this, what must he remember about including his brokerage's
designated name in his advertising?
The brokerage's designated business name must be meaningfully and
conspicuously present.
Fresh out of community college and newly licensed as a real estate
salesperson, Ben just took on a short sale as his first listing. Ben told his broker,
Janine, that he could handle the transaction and had just advised his seller client
that he could do it with minimal damage to the client's credit rating. Janine
immediately took Ben off the listing and assigned it to a more experienced
licensee. Why?
By predicting the seller's credit rating outcome, Ben crossed the line into
giving advice that requires additional licensure.
You're a real estate licensee in Maryland. You're walking through a property
with a new seller client. The seller tells you that the property is serviced by the
public sewer system, but when walking up the drive you noticed the access
hatch for a septic system. What
should you do?
Inquire about the homeowner's claim to ensure the property really is on public
sewer.
, Jason has completed 60 hours of Maryland pre-licensing real estate
education, met the minimum requirements, and passed his licensing
examination. What else does he need in order to receive an active license
when applying for licensure?
Affiliation with a supervising broker
Which of these payment structures is illegal in Maryland?
Dean, an unlicensed assistant, is paid an extra $50 each time he takes clients on a
showing on a licensee's behalf.
The Guaranty Fund paid a consumer's $15,000 claim because of licensee Ben's
negligence. Ben is breaking the news to his broker. How's his broker likely to
respond?
"Well, since this means your license is suspended, we'll see you back at the
office when you reimburse the fund."
Which of the following statements about counter-offers is true?
Once a counter-offer has been made, the prior offer is cancelled.
Ned is a Maryland listing agent who has learned of a material fact related to
the transaction. To whom and when must he disclose this information?
To all parties as soon as possible
Salesperson Katie represents seller Suzie in a transaction. Bob and Janine are
buying Suzie's home, and they're not represented. To whom does Katie need
to disclose her agency relationship using the Understanding Whom Real Estate
Agents Represent form?
Bob and Janine only
