CE Shop Final Exam; Questions and Answer
(A+)
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 co...
CE Shop Final Exam; Questions and Answer
(A+)
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
Which of these parties WOULD need a real estate license in Maryland?
✔✔Marsha, an attorney
who is selling a client's home, as this is something she typically does as part of
her practice
New Maryland licensees pay a fee into the Guaranty Fund to help maintain it.
What is the
amount of the fee? ✔✔$20
, CE Shop Final Exam; Questions and Answer
(A+)
DeShawn has been licensed as a salesperson in Maryland for 18 months. Which
of the following
statements is true about his upcoming license renewal? ✔✔The commission will
send DeShawn
a renewal reminder at least 60 days before his license's expiration date.
Who presides over a Maryland Real Estate Commission hearing? ✔✔An
administrative law
judge
In order to qualify as one of the five real estate professional members of the
Maryland Real
Estate Commission board, how many years of real estate experience must you
have? ✔✔10
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
, CE Shop Final Exam; Questions and Answer
(A+)
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
, CE Shop Final Exam; Questions and Answer
(A+)
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
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