Maryland CE Shop Practice Exam

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• The Protection of Homeowners in Foreclosure Act outlines parameters for foreclosure consulting services offered to homeowners who are at least how delinquent on their mortgage payments?
• Within how many days must the property disclosure statement be provided to the buyer after they make an offer?
• Who appoints the executive director of the Maryland Commission on Civil Rights?
• Which item must appear in all Maryland real estate advertising?
• Which of the following is NOT a relief option the Maryland Commission on Civil Rights may order for housing discrimination?
• Which party is not authorized to be investigated for license-law violations by the Maryland Real Estate Commission?
• Under PHIFA, a homeowner may bring a private action against a foreclosure consultant to recover up to $3,000, plus reasonable attorney's fees. Which option correctly reflects the related remedy?
• When a buyer asks why the seller is selling, what is Maryland's requirement regarding disclosure?
• During Maryland Real Estate Commission hearings, who makes recommendations to the commission regarding disciplinary actions?
• Which Maryland body handles housing discrimination complaints and can order penalties, injunctions, and training?
• Which statement about compensation and Maryland licensees is NOT true?
• The ______ decides if a complaint has merit and should be investigated.
• Who is responsible for ensuring that a buyer receives and understands the property disclosure statement in Maryland?
• Which option is NOT a permissible action for a broker regarding disputed earnest-money funds?
• What penalties could Rumi face for not presenting an offer or counter-offer?
• Which document is used to obtain a client’s consent to dual agency representation in Maryland?
• Which statement about earnest money deposits is true?
• If a new licensee does not yet have a supervising broker, which license status is she eligible for?
• Which scenario does NOT provide grounds for immediate suspension of a Maryland license?
• If a seller does not provide the disclosure form before signatures, until when can a buyer rescind a contract without penalty?
• In addition to sanctions imposed by the Maryland Real Estate Commission, serious violations of real estate license laws can result in what?
• The Maryland Real Estate Commission can impose penalties of up to how much for license law violations?
• Which party is NOT notified when a license is suspended?
• If a party protests a broker's proposed disbursement of disputed earnest money within 30 days, what is the broker required to do?
• Which statement is true about how the board’s professional and consumer members are selected?
• When a licensee has an ownership interest in property, or is related to someone with such an interest, what must be disclosed to all parties?
• To qualify as one of the five real estate professional members of the Maryland Real Estate Commission, you must have at least 10 years of real estate experience as a licensee prior to appointment.
• At an open house, which notice is required by the Maryland Real Estate Commission?
• The Maryland Real Estate Commission may discipline brokers who do not reasonably and adequately supervise affiliated licensees. Which item do they NOT consider?
• Which statement correctly identifies what must be included in advertising in Maryland?
• Which statement best describes attendance at Maryland Real Estate Commission hearings?
• If a Maryland ethics violation warrants criminal action, what may MREC do?
• Which statement about disclosures in Maryland listing agreements is true?
• What is the amount of the one-time fee that each new Maryland licensee pays into the Guaranty Fund?
• Who presides over Maryland Real Estate Commission hearings?
• Which statement best describes the structure of the Maryland Code of Ethics?
• Which action allows a broker to resolve disputed earnest money by having a court decide the disbursement?
• Which of these is NOT a material fact requiring disclosure in Maryland?
• When a licensee is involved in a real estate transaction for their own account, what must they disclose?
• Advertising in Maryland, what must be true about the brokerage's designated name?
• Which licensee has violated Maryland license law concerning the use of unlicensed assistants?
• Before advertising a newly listed property, what must a Maryland licensee obtain first?
• Listing agreements and their associated disclosure forms must be kept on file with the broker for a minimum of:
• How many members make up the Maryland Commission on Civil Rights?
• Who may vote on whether to accept the administrative law judge's disciplinary recommendation after a hearing?
• Which of the following is NOT an example of legal agency agreement in Maryland?
• How many members make up each hearing panel of the Maryland Real Estate Commission?
• Don, a Maryland licensee, learns the seller was aware of a sinkhole and would repair it. What is Don's ethical responsibility?
• How many hours of approved real estate courses must an individual complete before taking the real estate broker's exam?
• Which body has the authority to reprimand, fine, suspend or revoke licenses for ethics violations?
• Who presides over a Maryland Real Estate Commission hearing?
• Which item is not counted toward Guaranty Fund claims?
• If a listing agent fails to disclose a conflict of interest and acts to benefit himself in a related transaction, what is this illegal practice called?
• In Maryland, when is a counter-offer considered accepted?
• What information must a licensee provide when presenting a contractor to a client?
• When must a licensee ensure a buyer has a property disclosure/disclaimer statement prior to submitting an offer?
• If a nonresident from a state with no reciprocal agreement seeks Maryland licensure, what must they do?
• Under Maryland law, which statement about ministerial acts is true?
• What is the maximum fine per violation for licensees involved in unintentional discrimination?
• Which statement best describes the proper handling of an agency disclosure when a seller refuses to sign?
• What must happen for a licensee to affiliate with two Maryland real estate brokerages?
• Under Maryland law, can a religious organization limit rental accommodations to members of its organization if it does not discriminate by race, color, national origin, or familial status?
• On ground rent property signs, which amount must be shown along with the annual ground rent?
• Under Maryland law, which statement is true about protection against discrimination based on sexual orientation?
• Which statement is NOT true about the Maryland Commission on Civil Rights (MCCR)?
• Which action best demonstrates good faith in a seller's scenario where disclosure of a new freeway is relevant?
• Which statement best reflects Maryland policy on disclosing a previous owner's HIV or AIDS status to a prospective buyer?
• In Bridget’s scenario, which statement about the Section 10-702 notice form is correct?
• Which statement about latent defects is true in Maryland real estate transactions?
• What is the maximum penalty per new violation after three or more violations, under Maryland license law?
• In Maryland, how often must brokers provide training to affiliated licensees for reasonable supervision?
• Which of these would be eligible to be one of MREC's consumer members?
• To validly pursue dual agency, what must be obtained from the parties?
• Which statement best describes the Maryland Guaranty Fund?
• What else does Phyllis need to secure her nomination by the governor given her eight years as a salesperson and six years residency on the Eastern Shore?
• In the absence of an agency agreement, in what capacity is Cheyenne contributing to the buyer’s transaction?
• Which scenario violates Maryland fair housing laws?
• Which is NOT considered evidence of reasonable and adequate supervision for licensees, as defined by the commission?
• Which incentive would Maryland licensees be allowed to offer according to the ethics rules, given it must be available to all on the same basis?
• Licensed property managers in Maryland must maintain related records for at least five years, beginning on the date ______.
• Penalty-wise, MREC may: Which of the following is NOT a power of the Maryland Real Estate Commission?
• After the seller backed out, under what condition may the broker disburse the disputed earnest money to the buyer as stated in the broker's letter?
• Which of these is NOT a power of the Maryland Real Estate Commission?
• How many consumer members are on the Maryland Real Estate Commission?
• Which one of the following is not protected by federal or Maryland fair housing law, but may be protected by local ordinances in Maryland?
• Why must licensees stay informed about current market conditions?
• Which compensation arrangement is illegal in Maryland real estate practice?
• Jerome let his license expire four years ago and wants to reinstate now. What must he do to reinstate?
• Which of the following does NOT qualify as a ministerial act under Maryland law?
• Which Maryland Ethics guideline is breached if a licensee assists unrepresented buyers with incentives to persuade the seller to lower the price?
• Which CE requirement completes Tiara’s renewal if she has completed agency, legislative updates, fair housing, and electives as described?
• Which information is NOT included in the complaint notification from the Maryland Real Estate Commission?
• Which statement best describes continuing education for Maryland broker renewal?
• Under PHIFA, which ad would violate rules unless properly licensed?
• Betsy and Josh want to file a complaint against a real estate licensee. With what organization can they file a complaint?
• If a licensee receives a complaint against another licensee, what is the required initial response?
• If a license is summarily suspended or revoked, what right does the licensee have to challenge the action?
• Which statement about commission disclosures in Maryland listing agreements is true?
• How often must a Maryland licensee check the license status of service providers they recommend?
• Which document must be presented to every open house attendee?
• Which regulatory body handles penalties for ethics violations by licensees in Maryland?
• What is the maximum amount the Guaranty Fund can pay for damages?
• Which option is NOT an allowed method for handling disputed earnest money under Maryland real estate rules?
• Which incentive practice is permissible under Maryland license law?
• In Maryland, who bears responsibility for supervising all brokerage staff including unlicensed assistants?
• What’s wrong with Rhetta's lead-based paint disclosure scenario?
• To qualify as one of the four appointed consumer members of the Maryland Real Estate Commission, how many years of experience must you have as a real estate licensee?
• Which statement about Maryland real estate recordkeeping is true?
• Which organization has authority to impose penalties up to $25,000 for real estate license law violations?
• What continuing education hours must a Maryland salesperson complete to renew their license?
• What is the stated goal of declaring an area a real estate conservation area?
• What term describes a licensee’s failure to disclose a known conflict of interest in a real estate transaction?
• Which addition to Maryland fair housing protections are included beyond federal protections?
• Which compensation arrangement is illegal for an unlicensed individual in Maryland?
• Is it permissible for a broker to pay a $500 bonus to another broker from his commission if all parties are notified?
• Can a party retract a counter-offer and return to the original terms after negotiations have begun?
• Which of the following describes self-dealing?
• If a condo board forbids signage, can a licensee place a For Sale sign on a unit?
• Which counter-offer may be withdrawn by the offeror?
• In a counter-offer situation, can a seller or buyer retract and return to the prior terms?
• What could happen to Pat's license if a supervised affiliated licensee engaged in unintentional discrimination?
• During investigations, which tool may MREC use?
• A buyer is in the initial viewing stage with a licensee who does not yet have an agency agreement. What must the licensee obtain before showing properties?
• Trust funds must be kept in which type of account?
• 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?
• Which statement about license renewals is correct?
• Which of the following statements about a material fact is true?
• If the seller declines to sign the agency disclosure form, what should you do?
• Which rule requires licensees to disclose any personal interest they have in a property or transaction?
• Who has the power to seek civil action and/or injunctions against parties who violate Maryland fair housing law?
• Under Maryland law, can MREC summarily revoke a license if the licensee is convicted of a serious license violation and has a license in another jurisdiction revoked?
• After receiving a complaint notification, what must the licensee do?
• Which statement about residency and experience requirements for MREC members is true?
• What did Dexter do wrong as a property manager dealing with the surplus from selling washing machines?
• With Luna's complaint filed, what was the likely basis for the new complaint against Mike?
• Acceptance of a written counter-offer is considered effective when?
• Which statement reflects Maryland Real Estate Commission enforcement of ethics violations?
• Your broker's designated name must be included in all real estate advertising, and it must be ______.
• After a seller backs out and the buyer's earnest money is at issue, what must happen for the broker to disburse disputed funds?
• What is the maximum Guaranty Fund payout for damages?
• Which of the following signatures is acceptable on a Maryland listing contract?
• Which party would NOT need a real estate license to perform the described activities in Maryland?
• Are Maryland Real Estate Commission hearings open to the public?
• Which scenario would require an attorney to hold a Maryland real estate license?
• How does a Maryland broker's license renewal differ from a salesperson's license renewal?
• Are Shawn and Dennis protected under Maryland fair housing laws regarding sexual orientation?
• When placing For Sale signs on a property, what must licensees do regarding HOA or condo restrictions?
• Which statement about Guaranty Fund claims is accurate?
• Which is NOT a section of the Maryland Code of Ethics?
• How many years do Maryland Real Estate Commission members serve?
• Which open-house notice must be displayed to indicate representation by the licensee?
• Who must sign and date the MAR's Notice form acknowledging rights under Maryland's Single Family Residential Property Condition Disclosure Law?
• Which statement best describes Maryland's rule on dual agency?
• Sylvia's buyer client did not receive the property disclosure before making an offer. What potential violation did she commit?
• Which of the following is the correct interpretation of the threefold division of ethical duties in Maryland real estate practice?
• When must licensees disclose agency relationships to an unrepresented transaction party?
• Which of the following would require a Maryland real estate license?
• Which sequence best describes the order of actions when a complaint is filed against a licensee?
• Which outcome is NOT a potential outcome when a dual agency consent is withdrawn?
• When does the five-year record-retention clock start for a real estate transaction in Maryland if the contract falls through and there are no further offers?
• What is the maximum amount a claimant can receive from the Guaranty Fund for a single transaction?
• Under Maryland disclosure law, which statement about stigmatized properties is true?
• What is the highest amount the Maryland Real Estate Commission can fine for a serious violation in a third or subsequent offense?
• Which scenario depicts a potentially illegal dual agency arrangement in Maryland?
• If a seller's home is under contract, what should the listing agent do with a new offer from another buyer?
• How many real estate professional members are on the Maryland Real Estate Commission?
• Which action could trigger immediate suspension of a license by the Maryland Real Estate Commission?
• At an open house, which document must be displayed to comply with Maryland rules?
• At an open house where the seller has consented to dual agency, which statement is correct regarding representation of buyers?
• Which of these is NOT a circumstance that would result in a Maryland broker releasing trust money she was holding?
• Which statement about Maryland fair housing protections is true?
• What disclosure is required for dual agency within a team?
• What is the maximum penalty if you're convicted of a serious violation and your broker is found to have knowledge of it?
• How much money is needed to bring the Guaranty Fund balance back to its minimum required level when the balance is below minimum after paying claims?
• Which option is NOT permissible for Dorothy regarding the disputed earnest-money funds?
• If a sub-agent represents the seller and the buyer has no agency agreement with the licensee, what must the buyer be informed of?
• In a dual agency scenario where the seller has consented and the buyer is represented by another licensee within the same brokerage, what must occur?
• If a license expires more than three years, what must a former licensee do to obtain a new license?
• Which statement about counter-offers is true?
• Which is NOT a requirement for an electronic records system in Maryland?
• Which of the following does the Maryland Real Estate Commission NOT consider when evaluating whether supervision of affiliated licensees is reasonable and adequate?
• How long must you keep the agency disclosure notice on file after closing a transaction?
• What is a licensee's obligation regarding material facts in a property transaction?
• When a licensee has a personal interest in a transaction, what is required to avoid self-dealing?
• If a seller's listing agent refuses to cooperate with another broker when it is in the seller's interest and the offer terms require cooperation, has the agent violated the Maryland Code of Ethics?
• Antonio's agent possibly violated which section of the Maryland Code of Ethics?
• Under Maryland law, when can a buyer representation agreement be terminated early?
• When a sub-agent represents the seller, what disclosure must be made to the buyer?
• Which of the following is NOT a cause for the Maryland Real Estate Commission to summarily suspend a licensee’s license?
• Under Maryland housing law, which categories are protected classes that restrict discrimination in rental accommodations by religious organizations?
• Justine must provide additional information when giving a contractor’s name to a seller client. What else is required?
• According to Maryland disclosure guidelines, on which event is it NOT appropriate to give the buyer the opportunity to review the seller's disclosure statement?
• Which statement is true about using fax machines for solicitation in Maryland?
• When a licensee provides a contractor's name to a client, what additional information must be given?
• Who's responsible for Suzanne's behavior in Maryland real estate practice?
• Which statement best describes the obligation regarding latent defects by parties in a real estate transaction?
• Which ownership interest must be disclosed in writing to all parties in a transaction?
• After an administrative law judge issues a recommendation, what determines the final outcome?
• Maryland law requires trust accounts to be held where?
• What is the effect of a license being summarily suspended on the licensee's ability to practice?
• Which statement accurately reflects Maryland fair housing law regarding retaliatory eviction after a discrimination complaint?
• What illegal activity has occurred when a licensee persuades a seller to accept a lower price and then profits from flipping the property with a partner?
• Which advertisement most likely complies with Maryland real estate advertising law?
• Which activity would require a licensed real estate professional rather than an unlicensed assistant?
• Janet is a 20-something salesperson who wants to affiliate with a new brokerage. Which statement is true?
• Which task may Raul NOT perform without the owner's express knowledge and consent?
• In Maryland, which type(s) of licensee must take 15 hours of continuing education every renewal cycle?
• What is the Guaranty Fund limit for claims regarding monetary damages?
• To pursue dual licensure, what must occur between the two brokers and the commission?
• Are condominium and co-op complaints within MREC's jurisdiction for licensee complaints?
• If a former client asks about financial details from a previous representation, what is the duty of the licensee regarding confidentiality?
• Which statement correctly describes claims against the Guaranty Fund?
• What type of agency relationship does Monica have with the seller and buyer?
• Identify which action is prohibited for a Maryland real estate licensee.
• What action will HUD likely take with a complaint about housing discrimination in Maryland?
• When a license is suspended, which entities are notified by MREC?
• Which document must a seller provide to a buyer before the buyer signs the purchase offer?
• When a license expires due to nonrenewal, it can be reinstated within what time period?
• When is the appropriate time for a licensee to disclose that they represent the seller to a prospective buyer?
• Which document is used to disclose representation when the buyer is dealing with a licensee who represents the seller as a sub-agent?
• How much money is Lisa entitled to seek from the Guaranty Fund given the damages from a missing permit issue?
• Which licensee is correctly following MREC guidelines for hosting an open house?
• A salesperson may sue for compensation only if they were licensed at the time and a brokerage agreement was in place. Which statement best reflects this rule?
• How many hours of legislative updates are required in Maryland continuing education for license renewal?
• Assuming that the following individuals only carry a real estate license, who is in violation of the foreclosure consultation parameters set forth in PHIFA?
• Real estate licensees in Maryland who are found guilty of violating the Maryland Code of Ethics will be penalized by which regulatory body?
• When a licensee buys property for themselves, by what time must they disclose their licensed status?
• What is a common reason the Maryland Real Estate Commission may summarily suspend a license?
• Which statement about cross-state commission sharing is true?
• When representing the sale of a property owned by a relative within the same brokerage, what must Spencer ensure before listing the property?
• MREC will consider complaints filed within how many years of a real estate transaction, including condo sales?
• When should a prospective buyer receive a copy of the Maryland Residential Property Disclosure and Disclaimer Statement?
• When a complaint is filed against a licensee, what action does MREC typically take?
• What is the maximum penalty per violation after three or more license law violations?
• What is the correct penalty for the second license law violation?
• Which of the following is a Maryland protected class under the circumstances described?
• Who may act as a dual agent in Maryland?
• If a real estate licensee is the subject of a fair housing complaint, which outcome is possible?
• What is the supervisory responsibility of the broker for an independent contractor licensee?
• In Maryland, which statement about accepting a counter-offer is correct?
• Dual agency consent must be affirmed by both parties.
• Which is NOT a penalty that the Maryland Real Estate Commission may impose upon a licensee who violated the Maryland Code of Ethics?
• When must you present the Consent for Dual Agency form to the seller in Maryland?
• Lead-based paint disclosure is required for which properties?
• When recommending a contractor to a client, what additional information must a licensee provide?
• Which clause would violate the Protection of Homeowners in Foreclosure Act?
• Charlotte, an associate broker, has finally saved up enough to buy an oceanfront condo. Assuming she has disclosed and filed all papers properly, what must she send to the seller's agent?
• Before showing a property, which form may be required to disclose agency representation when there is no signed buyer agency agreement?
• Before listing a property, which arrangement is recommended but not required to be signed?
• How long must Maryland transaction records be kept on file after a transaction closes?
• What is the purpose of the Section 10-702 notice form in Maryland real estate transactions?
• Which of the following is not a continuing education topic required for Maryland license renewal?
• If a licensee commits a second license law violation within three years, what is the likely civil penalty?
• The Maryland Code of Ethics is divided into three categories. Which are they?
• For sale signs on ground rent properties that show the price of the property, which additional information must be included?
• Which entity has the authority to adopt bylaws and regulate real estate practice and licensee conduct in Maryland?
• Is conviction of a felony a trigger for the Maryland Real Estate Commission to summarily suspend a license?
• What must occur before dual agency in Maryland?
• If a licensee's counterpart fails to respond within 30 days to a broker's notice about disputed funds, what may the broker do?
• Which statement correctly describes consumer members of the Maryland Real Estate Commission?
• Which statement correctly reflects restrictions on short sale listings for Maryland licensees?
• A seller filed a complaint about his seller agent's ethics violation. Which regulatory body handles complaints about Maryland licensees?
• In Maryland, transaction records may be stored electronically as long as ______.
• Salesperson Katie represents seller Suzie in a transaction. To whom must Katie disclose her agency relationship using the Understanding Whom Real Estate Agents Represent form?
• What must Leeloo disclose with her offer when purchasing property for herself under her LLC?
• Which document clarifies which party a real estate agent represents in a transaction?
• Which scenario does NOT accurately reflect the MREC complaints and investigations process?
• Jennifer is a new licensee in Baltimore City. To avoid fair housing violations, Jennifer must not discriminate against members of which protected classes?
• Ruthe's complaint should be filed with which entity?
• A buyer is represented by a licensee at the same firm for a home purchase, while the seller is represented by the same firm. Which action is required for the sub-agent?
• Which statement about penalties for violations of the Maryland Code of Ethics is true?
• Who appoints the members of the Maryland Commission on Civil Rights?
• Who must adhere to the Maryland Real Estate Commission Code of Ethics?
• Which statement describes the hearing process after the administrative law judge's recommendation?
• Antonia just got her salesperson's license and is selling a home that's been in her family for four generations. What must she include in the listing paperwork and disclosures?
• In advertising, what must be included beyond the licensee's name?
• Which scenario illustrates a potential ethics violation that may trigger disciplinary action by the commission?
• For nonresident licensees from states without a reciprocal agreement, what form must be submitted to Maryland to authorize legal action on the license?
• In Maryland advertising, whose price must be shown as the listed price?
• In Maryland, which unlicensed assistant may NOT be compensated for activities that require a real estate license?
• With whom may a Maryland broker NOT share her commission?
• If DeMarcus fails to ensure that his buyer receives the disclosure/disclaimer statement before he submits an offer, this may be a violation if the failure could result in the contract becoming:
• Which party is most likely not entitled to sue for commission earned in a Maryland real estate transaction?
• In Maryland, is marital status a protected class under fair housing law?
• Which advertising incentive is legal under Maryland license law?
• Maryland has protections beyond the seven federally protected classes. Which set correctly identifies the Maryland-specific protected classes?
• Which statement about terminating a listing agreement in Maryland is true?
• Which items are included in the complaint notification?
• Which statement about enforcement of the Maryland Code of Ethics is true?
• In Maryland, if a dual agency situation arises after a listing agreement has been signed and the seller initially consented to dual agency, what must happen?
• If a licensee includes a phone number in advertising, what else must be included?
• When agency disclosure is not made in person, how may a licensee disclose their agency relationship, and by when must the written disclosure be provided?
• In Maryland advertising, what must accompany a licensee’s phone number in an ad?
• What can Rose do now after the hearing panel dismissed her complaint about a sign on her property?
• Which of these parties could NOT file a claim with the Guaranty Fund?
• Which of the following categories is included in the Maryland Code of Ethics?