Maryland state exam practice exam CORRECT QUESTIONS & ANSWERS 2024 LATEST UPDATE CORRECT 100%
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Course
Maryland Real Estate
Institution
Maryland Real Estate
Faith has started creating her own advertising, but is looking for some guidance on what is and isn't allowed. She's checked state and federal laws, commission regulations, as well as the National Association of REALTORS® Code of Ethics. Where else can she look for reliable information? - ANSWER B...
Maryland state exam practice exam CORRECT
QUESTIONS & ANSWERS 2024 LATEST UPDATE
CORRECT 100%
Faith has started creating her own advertising, but is looking for some guidance on what is and isn't
allowed. She's checked state and federal laws, commission regulations, as well as the National
Association of REALTORS® Code of Ethics. Where else can she look for reliable information? - ANSWER
Brokerage policy manual
Roger Kelly is signing a listing contract with a client. Which of the following is an acceptable signature on
the document? - ANSWER Roger Kelly"
Which of these policies is an example of discrimination based on familial status? - ANSWER A maximum
of two adults and up to three children are allowed in each three-bedroom apartment.
Which of the following statements about latent defects is true? - ANSWER Any party to a real estate sales
transaction who has knowledge of latent defects must disclose them
You're the listing agent for a property where an unfortunate series of deaths took place. Which action
best demonstrates good faith related to the disclosure of these events? - ANSWER You tell prospective
buyers the truth about the events when asked.
In Maryland, when HUD receives a discrimination complaint, it forwards this complaint to what
organization? - ANSWER Maryland Commission on Civil Rights
Members of the Maryland Real Estate Commission serve terms of how many years? - ANSWER four
You make a listing presentation to a client, then learn she's meeting with a few more licensees before
deciding which licensee gets her listing. You know these competitors. Which action best demonstrates
good faith? - ANSWER you tell the seller you hope she'll decide to work with you.
,What happens to ethical complaints about licensees once they are received by the Department of Labor,
Licensing and Regulation? - ANSWER Each complaint is reviewed to determine whether it falls within the
commission's jurisdiction.
Jennifer is a new licensee in Baltimore City, Maryland. In order to abide by fair housing laws, Jennifer
must avoid discriminating against members of which of the following protected classes? - ANSWER
Federal-, Maryland-, and Baltimore City-protected classes
Which of the following classes are not protected by federal or Maryland fair housing law, but may be
protected by local ordinances in Maryland? - ANSWER Age and lawful income
What types of misrepresentation exist? - ANSWER Positive and unintentional
Misrepresentation can be either positive or unintentional.
Which of the following is/are illegal? - ANSWER Both disparate impact and disparate treatment
Which of the following is true of the harm caused to a person relying on false information? - ANSWER
The harm can be physical or monetary.
The harm caused to someone relying on false information can be physical or monetary.
Don, a Maryland licensee, helped Peggy find a home she loved, but there was a sinkhole in the backyard.
The seller's agent, Roger, told Don that he and the seller were aware of the sinkhole and it would be
repaired. What is Don's ethical responsibility in this case? - ANSWER Document the information from
Roger that the seller was aware of the sinkhole and would repair it.
Samuel, a newly licensed salesperson, just received his pocket card. When is Samuel required to carry
the pocket card with him? - ANSWER At all times when conducting business
The amount of earnest money is negotiable between the parties, but it must be considered ______. -
ANSWER "reasonable"
The amount of earnest money is negotiable between the parties, but it must be considered
"reasonable."
, Mark is the listing agent for a home owned by the Browns. At the open house, a colleague, Brandon,
indicates that he has a buyer for the Browns' home. Mark has had numerous interactions with Brandon
on other listings, and found that they don't get along. He really doesn't want to work with him on this
deal. In order to behave ethically, what can Mark do? - ANSWER Cooperate with Brandon because it's in
the best interest of his clients.
For Sale signs on ground rent properties which show the price of the property must also state which of
the following? - ANSWER Annual ground rent plus the full cost of capitalization
If these signs are used, they must show the full cost of capitalization in addition to the annual ground
rent.
Which of the following statements about earnest money is true? - ANSWER Earnest money must be
placed in an escrow account within no more than seven business days after the formation of the contract
of sale.
What's an agent's responsibility related to home inspections? - ANSWER To recommend a buyer have a
professional inspection performed
In Maryland, how many hours of approved real estate courses must an individual complete before taking
the real estate salesperson exam? - ANSWER 60
In order to maintain the Guaranty Fund, new Maryland licensees pay a one-time fee of ______ into the
fund. - ANSWER $20
Linda is the sponsoring broker at Gardner Homes. Which of the following best describes what happens
with her license? - ANSWER Linda displays her license at Gardner Homes.
In Maryland, unless a prior business relationship exists, it is illegal to commercially solicit using what
means? - ANSWER Fax machine
Which of the following is true about positive misrepresentation? - ANSWER A principal was harmed by
the misstatement.
, There are four elements to positive misrepresentation: a false statement must have been made, the
person stating it (e.g., the agent) must have known the statement to be false, and another person (e.g., a
principal) must have relied on and been harmed by the misstatement.
Which action could temporarily stop a foreclosure? - ANSWER Borrower declaring bankruptcy
Jay has a listing agreement with Maury. Even if Maury finds the buyer during the listing term, Jay has
earned his listing commission. What type of listing agreement do they have? - ANSWER exclusive right to
sell
provides the most assurance of commission to the listing agent.
The Maryland Commission on Civil Rights consists of how many members? - ANSWER Nine
The MCCR consists of nine members and an executive director appointed by the governor.
Which of the following statements is true of a material fact? - ANSWER A material fact would cause a
reasonable person to either act or not act, if that fact were known.
Betsy and Josh want to file a complaint against a real estate licensee whom they feel misrepresented
them in the sale of their Maryland home. With what organization can they file a complaint? - ANSWER
Maryland Real estate commission
A real estate license is required ______. - ANSWER When performing real estate activities for others, for
compensation of any kind
Chester is interested in becoming a real estate licensee in Maryland. After completing the requirements
for obtaining the license for a real estate salesperson, which agency will administer Chester's license? -
ANSWER Maryland Real Estate Commission
Maryland consumers may file complaints about a licensee with what organization? - ANSWER Maryland
Real Estate Commission
When a policy negatively impacts a protected class more than it negatively impacts others, this is called
what? - ANSWER Disparate impact
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