MARYLAND REAL ESTATE EXAM PREP QUESTIONS &
ANSWERS.
Which of the following does NOT end presumed buyer representation? - ANS The
licensee working with prospects fails to present a disclosure of representation form
Does Maryland have dower laws? - ANS no
Dual agency is permitted only in brokerage firms consisting of three or more licensee -
ANS true in maryland
In which of the following situations does an act of real estate brokerage require a real
estate brokerage license? - ANS A person charges a modest consulting fee to guide his
friend in the sale of a home
Which is not necessary for a valid contract? - ANS due date
Licensees do NOT need to do which of the following to be "qualified real estate agents"
and be eligible to use Schedule C-Self-Employed when filing federal tax returns? - ANS
Be free from their broker's control of how their work is done
Which is TRUE of employees of the Commission? - ANS They include an executive
director and field inspectors
cooperating agents - ANS -A cooperating agent who brings in a buyer has fiduciary duties
to the seller/owner
- Cooperating agents can represent the buyer
-Cooperating agents are sub-agents of the listing broker
After getting a license, how often must you take Continuing Education classes? - ANS
every 2 years - 15 hours
Where does fees paid for by Maryland real estate licenses go? - ANS The State Real
Estate Commission Fund
What term means "going to the state?" - ANS escheat
ANSWERS.
Which of the following does NOT end presumed buyer representation? - ANS The
licensee working with prospects fails to present a disclosure of representation form
Does Maryland have dower laws? - ANS no
Dual agency is permitted only in brokerage firms consisting of three or more licensee -
ANS true in maryland
In which of the following situations does an act of real estate brokerage require a real
estate brokerage license? - ANS A person charges a modest consulting fee to guide his
friend in the sale of a home
Which is not necessary for a valid contract? - ANS due date
Licensees do NOT need to do which of the following to be "qualified real estate agents"
and be eligible to use Schedule C-Self-Employed when filing federal tax returns? - ANS
Be free from their broker's control of how their work is done
Which is TRUE of employees of the Commission? - ANS They include an executive
director and field inspectors
cooperating agents - ANS -A cooperating agent who brings in a buyer has fiduciary duties
to the seller/owner
- Cooperating agents can represent the buyer
-Cooperating agents are sub-agents of the listing broker
After getting a license, how often must you take Continuing Education classes? - ANS
every 2 years - 15 hours
Where does fees paid for by Maryland real estate licenses go? - ANS The State Real
Estate Commission Fund
What term means "going to the state?" - ANS escheat
