CE Shop Final Exam – Practice
Questions and Answers Already
Graded A+
,Dante lives in Maryland and purchased property in Pennsylvania. His real estate agent lied to
him about a material defect, and it ended up costing Dante $52,000. Can Dante file a claim
against the Guaranty Fund? ✔✔No, the property purchased was in Pennsylvania.
Which of the following is NOT a required inclusion in a Maryland buyer representation
agreement? ✔✔The address of the property the buyer is purchasing
Marjorie has been a licensed broker in Maryland for 45 years. She's sick of having to go through
the renewal process every two years and wants to petition to allow seasoned licensees like her to
renew every four years instead. Which entity should Marjorie contact about this idea? ✔✔The
Maryland Real Estate Commission
Monique received four offers on her client's listing. Offer A is a written offer that the buyer's
agent dropped off at Monique's office. Offer B is an offer that the buyer's agent communicated to
Monique over the phone. Offer C is a written offer that Monique received via email. Offer D is a
written counter-offer from a buyer that Monique's client countered earlier in the week. Which
offers must Monique present to her client? ✔✔Only offers A, C, and D, since they're in writing
,On Friday, Shanice deposited her client's earnest money check in her personal account to keep it
safe until she could transfer it to her brokerage's escrow account on Monday. ✔✔illegal handling
of trust funds in Maryland
Roger is an unlicensed assistant in Dave's Maryland office. He performs tasks for several of the
firm's licensees. Katherine is a licensed assistant, and she performs tasks for three of the firm's
independent contractor licensees. The firm's broker, Michaela, has her own licensed assistant.
Which of these statements best represents Michaela's liability for the acts of all these assistants?
✔✔Michaela is responsible for all licensees and employees associated with the firm.
Sheila filed a discrimination complaint against her landlord. She's worried that when he finds out
about her complaint, he's going to evict her. However, he knows not to evict her just because she
filed a complaint. Why? ✔✔It illegal to retaliate against parties who file a discrimination
complaint
In terms of record keeping, how long do you need to have something on file for? ✔✔At least
five years.
Jorge's firm has just been assigned as the listing brokerage for a foreclosed condo unit in Jorge's
own building. Jorge knows that given the unit's condition, it's bound to sell for far less than
market value of a nicer unit such as his. Worried that the new listing will bring down his unit's
, value, Jorge quickly lists his unit at current market price and sells it before the foreclosed listing
hits the market—at a price $100,000 less than Jorge sold his unit for. Has Jorge done anything
wrong? ✔✔Yes, Jorge has engaged in self-dealing.
Not disclosing a conflict of interest is called self-dealing, and it's illegal
Which two Maryland protected classes, while not specified in federal fair housing law, may still
qualify for protection under the federal Fair Housing Act under certain circumstances?
✔✔Sexual orientation and gender identity
What is the highest amount you can be fined by the Maryland Real Estate Commission for a
serious violation? ✔✔$25,000
What must Maryland sellers provide prospective buyers of homes built prior to 1978, in addition
to the appropriate disclosure form? ✔✔EPA lead safety pamphlet
Ron prides himself on providing his buyer clients with consistently stellar representation. His
latest buyer client, Tammy, is purchasing a fixer-upper on Walnut Street, just a stone's throw
from the railroad tracks. What's Ron's responsibility regarding making sure Tammy is informed
about the property's condition? ✔✔Ron should make sure that Tammy understands her rights
and obligations regarding the property disclosure/disclaimer statement.
Questions and Answers Already
Graded A+
,Dante lives in Maryland and purchased property in Pennsylvania. His real estate agent lied to
him about a material defect, and it ended up costing Dante $52,000. Can Dante file a claim
against the Guaranty Fund? ✔✔No, the property purchased was in Pennsylvania.
Which of the following is NOT a required inclusion in a Maryland buyer representation
agreement? ✔✔The address of the property the buyer is purchasing
Marjorie has been a licensed broker in Maryland for 45 years. She's sick of having to go through
the renewal process every two years and wants to petition to allow seasoned licensees like her to
renew every four years instead. Which entity should Marjorie contact about this idea? ✔✔The
Maryland Real Estate Commission
Monique received four offers on her client's listing. Offer A is a written offer that the buyer's
agent dropped off at Monique's office. Offer B is an offer that the buyer's agent communicated to
Monique over the phone. Offer C is a written offer that Monique received via email. Offer D is a
written counter-offer from a buyer that Monique's client countered earlier in the week. Which
offers must Monique present to her client? ✔✔Only offers A, C, and D, since they're in writing
,On Friday, Shanice deposited her client's earnest money check in her personal account to keep it
safe until she could transfer it to her brokerage's escrow account on Monday. ✔✔illegal handling
of trust funds in Maryland
Roger is an unlicensed assistant in Dave's Maryland office. He performs tasks for several of the
firm's licensees. Katherine is a licensed assistant, and she performs tasks for three of the firm's
independent contractor licensees. The firm's broker, Michaela, has her own licensed assistant.
Which of these statements best represents Michaela's liability for the acts of all these assistants?
✔✔Michaela is responsible for all licensees and employees associated with the firm.
Sheila filed a discrimination complaint against her landlord. She's worried that when he finds out
about her complaint, he's going to evict her. However, he knows not to evict her just because she
filed a complaint. Why? ✔✔It illegal to retaliate against parties who file a discrimination
complaint
In terms of record keeping, how long do you need to have something on file for? ✔✔At least
five years.
Jorge's firm has just been assigned as the listing brokerage for a foreclosed condo unit in Jorge's
own building. Jorge knows that given the unit's condition, it's bound to sell for far less than
market value of a nicer unit such as his. Worried that the new listing will bring down his unit's
, value, Jorge quickly lists his unit at current market price and sells it before the foreclosed listing
hits the market—at a price $100,000 less than Jorge sold his unit for. Has Jorge done anything
wrong? ✔✔Yes, Jorge has engaged in self-dealing.
Not disclosing a conflict of interest is called self-dealing, and it's illegal
Which two Maryland protected classes, while not specified in federal fair housing law, may still
qualify for protection under the federal Fair Housing Act under certain circumstances?
✔✔Sexual orientation and gender identity
What is the highest amount you can be fined by the Maryland Real Estate Commission for a
serious violation? ✔✔$25,000
What must Maryland sellers provide prospective buyers of homes built prior to 1978, in addition
to the appropriate disclosure form? ✔✔EPA lead safety pamphlet
Ron prides himself on providing his buyer clients with consistently stellar representation. His
latest buyer client, Tammy, is purchasing a fixer-upper on Walnut Street, just a stone's throw
from the railroad tracks. What's Ron's responsibility regarding making sure Tammy is informed
about the property's condition? ✔✔Ron should make sure that Tammy understands her rights
and obligations regarding the property disclosure/disclaimer statement.
