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Maryland Real Estate (Law) Practice Exam Flashcards Which of the following is FALSE concerning the required three-hour continuing education course in supervision and Agency courses for license renewal?a. it must be taken by all licensees for every alternate license renewal on or after January 1, 2012b. it must be taken by all brokers for every alternate license renewal on or after January 1, 2012c. it must be taken by team leaders beginning with their first renewal n or after January 1, 2012d. it must be taken by branch managers at alternate renewals on or after January
1, 2012
- it must be taken by all licensees for every alternate
license renewal on or after January 1, 2012 Associate Broker John Buonasera, known as Mr. B. has published a flier to attract business. This is the entire ad:Come to me, Mr. B. for all your real estate needs: Buying, Selling, or Renting. Use my services and you will be pleased. Results guaranteed! I charge 2% less than most other REALTORS for my excellent service. My personal assistants and I are available to you 24/7 to answer your real estate questions and meet your
brokerage needs. Call my cell phone, toll free:
1-888-555-5555.Which of the following statements about the advertisement is FALSE?a. the ad makes it clear that Mr. B is not the broker of a firmb. the ad is improper because Mr. B doesn't mention the designated name of the broker whose firm he works forc. the ad is improper because Mr. B gives his own phone number and not that of the firmd. the ad is improper because, although a nickname may be used if it is registered with the Real Estate Commission, his full name, John Buonasera, must also be shown as it appears on his license
- the ad makes it clear that Mr. B is not the broker of a firm
Which statement about State of Maryland fair housing law is TRUE?a. State law permits local governments to pass fair housing laws more permissive than the State'sb. In a multifamily community that is advertised for, and occupied exclusively by, persons 62 years of age or older, sellers may refuse to sell a unit for occupancy to a family with minor childrenc. in a multifamily community that is advertised for, and occupied exclusively by, persons 62 years of age or older, sellers may refuse to sell a unit to a family with minor children to hold as investment propertyd.in a multifamily community that is advertised for adults and in which 80% of the units are occupied by at least one
person aged 50 or older, sellers may refuse to sell (or rent) for occupancy to a family with minor children
- In a multifamily community that is advertised for, and
- they must be retained in their broker's offices
occupied exclusively by, persons 62 years of age or older, sellers may refuse to sell a unit for occupancy to a family with minor children Which of the following is TRUE of salespersons' real estate licenses?a. they must be placed and kept in a safe place chosen by the salespersonsb. they are to be carried by the salespersons when performing acts of real estate brokeragec. they must be retained in their broker's officesd.they must be maintained in personnel files by their brokers
What is the maximum penalty that the Maryland Real Estate Brokers Act authorizes the Commission to impose
on a licensee?a. $25,000b. $15,000c. $5,000d. $1,000
- $25,000
Maryland's requirements for a real estate broker licensee's
office include all the following EXCEPT:a. it must be a
place where the firm regularly conducts insurance salesb. it must have a sign visible to the public that includes the words Real Estate, REALTORS, or Realist, whichever is applicablec. records of all trust monies must be kept there in a secured area and available to the Commission's inspectors on demandd. it must have available the license of the broker and every affiliate who works out of that office
- it must be a place where the firm regularly conducts
- they owe certain statutory duties to sellers
- they are considered by Maryland statute to be
- State Real Estate Commission
- no later than the first scheduled face-to-face meeting
- completion of a total of at least 15 hours of approved
insurance sales Which is TRUE of licensees representing client buyers?a.they owe certain statutory duties to sellersb. they cannot be compensated by sellersc. they can be regarded as cooperating agentsd. they may tell the seller's agent that their client is highly motivated
Which of the following is TRUE of a pair of prospects who enter a Maryland brokerage office and ask help in finding a house to rent?a. they are considered by Maryland statute to be represented by that brokerage firmb. they are considered customers by Maryland statutec. they will owe a reasonable and customary brokerage fee if the firm finds them a property that they leased. they must be given the Commission's form, Understanding whom Real Estate Agents Represent, immediately upon their arrival
represented by that brokerage firm What body sets ethical standards that must be observed by all Maryland real estate licensees?a. National Association of REALTORSb. State Real Estate Commissionc. Maryland Association of REALTORSd. local boards and associations
When does Title 17 require the Commission's form, Understanding Whom Real Estate Agents Represent, to be presented?a. at first contact with a prospective purchaser or lesseeb. at the first face-to-face contact between the licensee and a prospectc. no later than the moment a prospect expresses the desire to look at a property listed with a licensee's companyd. no later than the first scheduled face-to-face meeting between the licensee and the prospect
between the licensee and the prospect What is required for most Maryland real estate licensees to renew their licenses?a. completion of at lease 3 hours of continuing education in fair housingb. completion of at least 1.5 hours of continuing education in ethicsc. completion of a total of at least 15 hours of approved continuing education coursesd. completion of at least 6 hours of continuing education on changes in federal, State and local laws
continuing education courses
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