State porti Study guides, Class notes & Summaries

Who appoints members of the DC Real Estate Commission? The commission executive director The DC Council chairperson The mayor The outgoing commissioners - Answer-The mayor Jersey, a real estate licensee who lives in DC, inherited a 5% interest in a strip mall. Pete, her neighbor, saw a for sale sign at the strip mall and wants her to make an offer on the property on his behalf. Jersey considers her personal interest in the property too minor to bother disclosing it. Is this a viol...

PSI Real Estate Exam (MD State Portion) Latest 2024 Graded A+ Real Estate brokerage is govern by: 1. Satutory Law - Brokers Act "Title 17" 2. Administrative Law - Code of Maryland Regulations (COMAR) Regulation is enacted and enforced by MD Real Estate Commission (MREC) Brokerage Services: For consideration: - Selling, buying, exchanging, or leasing any real estate or collecting rent - Assisting to locate/obtain for purchase/lease any residential real estate - Serving as a consultant...

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Pre-licensing edu # of hours - Answer- 90 hours Audits on Trust accounts - Answer- every 3 years Continuting Ed - Answer- 60 hours Managing Broker needs __ years experience - Answer- 3 years Security Deposit Returns - Answer- 21 days First time renewal coursework - Answer- New licensees complete 30 hours of advanced practice, 30 hours of real estate law, 27 hours of CE, and the three-hour core course to renew. Subsequent license renewal requires 27 hours of CE and the core course....

Rebecca receives an earnest money deposit in the amount of $12,000. Which of the following statements best describes the deposit of this trust money? Rebecca may deposit it in the firm's regular trust account. Rebecca must deposit it in an individual trust account set up for just this client. Rebecca must deposit the funds in a non-interest bearing trust account. Rebecca must deposit the funds into a DOL special trust fund account. - Answer- **Rebecca may deposit it in the firm's r...

Who appoints members of the DC Real Estate Commission? The commission executive director The DC Council chairperson The mayor The outgoing commissioners correct answers The mayor Jersey, a real estate licensee who lives in DC, inherited a 5% interest in a strip mall. Pete, her neighbor, saw a for sale sign at the strip mall and wants her to make an offer on the property on his behalf. Jersey considers her personal interest in the property too minor to bother disclosing it. Is this...

PSI Real Estate Exam (MD State Portion) Questions with Verified Solutions Real Estate brokerage is govern by: 1. Satutory Law - Brokers Act "Title 17" 2. Administrative Law - Code of Maryland Regulations (COMAR) Regulation is enacted and enforced by MD Real Estate Commission (MREC) Brokerage Services: For consideration: - *Selling, buying, exchanging, or leasing* any real estate or collecting rent - Assisting to *locate/obtain* for purchase/lease any residential real estate - Ser...

PSI Real Estate Exam (MD State Portion) Questions With Compete Solutions.

DC State Portion Exam (Questions + Answers) Solved 100% Correct!!

Who appoints members of the DC Real Estate Commission? The commission executive director The DC Council chairperson The mayor The outgoing commissioners - ANSWER The mayor Jersey, a real estate licensee who lives in DC, inherited a 5% interest in a strip mall. Pete, her neighbor, saw a for sale sign at the strip mall and wants her to make an offer on the property on his behalf. Jersey considers her personal interest in the property too minor to bother disclosing it. Is this a viol...