MD Real Estate License Exam

Mikey, an investor who's selling a property that he converted into a three-unit apartment building Unimproved properties, new construction, transfer tax-exempt properties, foreclosures/REOs, sheriff's/tax sales, court-appointed transfers, and properties that will be converted to commercial use or demolished are exempt from the disclosure requirement.

Amelia's portfolio is on fire! She's got four upcoming listings and each of them will list for at least $500,000. Before she can count her commissions, though, she's got some paperwork to get through. Since she wants to stay on the right side of the Maryland Property Condition Disclosure Law, which of these sellers does Amelia need to remind about completing the Residential Property Disclosure/Disclaimer Statement? -Mikey, an investor who's selling a property that he converted into a three-unit apartment building -Bryce, who, as the executor of his deceased mother's will, is selling her house -Tessa, who represents a lender that's selling a foreclosed four-bedroom ranch-style home that sits on three acres -Erica, who's selling her five-unit apartment building to an investor who will be converting it to retail space

Present it to his client. Written offers must be presented in a timely manner, even if the property subject to the offer is already under contract. The only exception to this rule is if the seller has told the agent in writing not to present any more offers.

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. -Hold onto it in case the current contract falls through. -Reply to the buyer's agent that the property is under contract, so it's too late to make an offer. -Advise your seller to accept it as a back-up offer.

Four

Members of the Maryland Real Estate Commission serve terms of how many years? Nine Seven Four Two

He failed to cooperate with the commission in its investigation.

Mike's a busy listing broker. Luna, one of his associated licensees, had a complaint filed against her. Mike was busy with his own clients, and the commission's response deadline came and went without him noticing. The following week Mike received a new complaint—this time, against him. What is the new complaint likely about? -He failed to cooperate with the commission in its investigation. -He failed to present himself before the commission. -He failed to properly supervise his affiliated licensees. -He didn't make sure that Luna responded to the commission's notice.

Yes, but Phoebe may request a hearing to appeal the revocation.

Phoebe's New Jersey real estate license was revoked after she was convicted of intentional misrepresentation. When the Maryland Real Estate Commission learns of this, it summarily revokes her Maryland salesperson's license. Does it have the power to do this? -Yes. Revocation in another state automatically means her Maryland license must be revoked. -Yes, but Phoebe may request a hearing to appeal the revocation. -No. MREC may not revoke a license before the licensee has a chance to present her case at a hearing. -No. MREC would have to prove that she has violated Maryland license law in order to revoke her Maryland license.

"Roger Kelly" Licensees must only sign their own name, not the name of a group or team.

Roger Kelly is signing a listing contract with a client. Which of the following is an acceptable signature on the document? "XYZ Real Estate Team" "Roger Kelly, XYZ Real Estate" "XYZ Brokerage" "Roger Kelly"

MREC

Ruthe is fed up with her agent's lazy and irresponsible behavior. On top of his usual incompetence, her checking account was just hacked because he misplaced her $10,000 EMD check. She's lost $5,000 and has to pay $50 in bank fees, too. With which entity should she file a complaint? -The Maryland Real Estate Commission -The chamber of commerce -The state attorney general -The Guaranty Fund

The public

The Maryland Code of Ethics is divided into three sections: relations to ______, relations to clients, and relations with other licensees. Financial organizations The public Sponsoring brokers Other professions

25,000

What is the highest amount you can be fined by the Maryland Real Estate Commission for a serious violation? $100,000 $25,000 $10,000 $2,500

Marital status, sexual orientation, and gender identity Maryland fair housing law recognizes 10 protected classes: race, color, religion, sex, familial status, national origin, marital status, sexual orientation, gender identity, and disability.

Which choice correctly identifies the three classes that Maryland protects in addition to the seven federally protected classes? -Familial status, marital status, and sexual orientation -Disability, sexual orientation, and gender identity -Marital status, sexual orientation, and gender identity -Age, disability, and employment status

The address of the property the buyer is purchasing

Which of the following is NOT a required inclusion in a Maryland buyer representation agreement? -Each party's duties and responsibilities to the other -The address of the property the buyer is purchasing -A definite termination date -Compensation details

The cards must include her name as it appears on her license. Business cards are considered advertising and should include the licensee's and broker's/brokerage's name (as licensed). It's also prudent to include your phone number or email address, but not required.

After 15 years of building her business as a salesperson, Estrella has gotten her broker's license and is striking out on her own. She's creating new business cards, and it's been so long since she had to do them on her own, she's double-checking that they comply with Maryland real estate advertising law. What does she need to be sure to include? -She doesn't need to worry about complying, since business cards aren't considered advertising in Maryland. -The cards must include her name as it appears on her license. -Estrella must include her name, her picture, and either her business's phone number or address. -She needs to include her name, her business's phone number, and her license number.

An administrative law judge

As a result of Maryland Real Estate Commission hearings, who makes recommendations to the commission regarding disciplinary actions? -A criminal judge -An administrative law judge -The executive director -A member of the commission

Pedro charges clients a $500 retainer fee when he signs on to provide foreclosure consultation services. Foreclosure consultants may not charge fees or collect any compensation until they've performed all foreclosure consultation services. Consultation compensation may not exceed 8% of the property's sales price.

Assuming that each of these foreclosure consultants is properly licensed, who is violating the Protection of Homeowners in Foreclosure Act? -Pedro charges clients a $500 retainer fee when he signs on to provide foreclosure consultation services. -Regina puts all of her foreclosure consultation terms into a written contract that she and her clients sign. -Maya, who's also a licensed real estate broker, presents her real estate license to clients before they sign a contract. -In her consultation contracts, Sylvia includes a clause stating that her compensation will be 7% of the property's sales price.

April 20

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? 10 days from the home inspection date May 10 April 20 April 15

Contact information for MREC's legal hotline Licensees and their brokers are notified when a complaint is being investigated. The charges, potential penalties, and a copy of the complaint are included in the notification, and the licensees must respond with a full explanation.

Broker Barry has just received a letter from MREC informing him that one of Barry's associated licensees, Pat, has had a complaint filed against him. What information is NOT included in this letter? A list of charges A list of potential penalties A copy of the complaint Contact information for MREC's legal hotline

Five days

Charlie and her girlfriend, Frankie, are buying a house together. Having found the perfect home, they made an offer without first having seen the seller's property disclosure/disclaimer statement. The statement arrived two days after they entered into the contract with the seller. How many days do Charlie and her girlfriend have to rescind their offer if they find something in the disclosure that makes them uncertain about the property? -Three days -Five days -Seven days -Ten days

A disclosure that she's a real estate licensee Licensees who are buying/renting or selling/leasing property for themselves must disclose, in writing, their licensed status no later than when they submit the offer or list/offer the property for sale.

Charlotte, an associate broker, has finally saved up enough of her commission earnings to buy an oceanfront condo in Ocean City. Assuming that she's made all of the necessary disclosures and included all the necessary paperwork with her offer, what do we know she sent to the seller's agent? -A bank statement showing she has enough to cover the down payment -An earnest money deposit for at least 5% of the offer price -A signed receipt showing she received a copy of the condo resale packet. -A disclosure that she's a real estate licensee

Fatima isn't permitted to act as a dual agent.

Fatima, a salesperson, is hosting an open house in Annapolis for her seller client Ramona. Two interested buyers come in, and after Fatima gives them a tour they tell her they'd like her to represent them in making an offer. Since her seller client has already consented to dual agency, she gladly offers to represent the buyers and helps them write an offer right there at the open house, making sure that they also sign a Consent for Dual Agency form. What's wrong with this scenario? -Fatima must wait until the open house is finished to have her new clients sign the Consent for Dual Agency form. -Fatima isn't permitted to act as a dual agent. -Fatima doesn't need them to sign the Consent for Dual Agency form since her seller client already has. -Fatima needs to reaffirm the seller's dual agency consent before she can help the buyers make their offer.

Annual ground rent plus the full cost of capitalization

For sale signs on ground rent properties that show the price of the property must also state which of the following? -Annual ground rent plus the full cost of capitalization -Price for which the land could be purchased -Annual ground rent -The market value of the property

Instead of having 4.5 hours of electives, brokers must take three hours of broker supervision coursework and only 1.5 hours of electives. Like salespersons, brokers must also complete 15 hours of CE, but unlike the salesperson renewal requirements, three of those hours must be in broker supervision (only 1.5 CE hours are electives).

How does a Maryland broker's license renewal differ from a salesperson's license renewal? -There is no difference between license renewals for brokers and salespersons. -Instead of having 4.5 hours of electives, brokers must take three hours of broker supervision coursework and only 1.5 hours of electives. -Brokers must take the 15 hours of CE salespersons take, plus an additional three hours of broker supervision coursework. -Brokers have to renew every three years and salespersons have to renew every two years.

Two months

In Maryland, reasonable and adequate supervision includes a broker's responsibility to make training and educational sessions available to affiliated licensees at least every ______. Two weeks Two months Quarter Six months

Licensees are able to provide a paper copy upon commission request Records may be stored electronically, but licensees must provide a paper copy of any record the commission requests.

In Maryland, transaction records may be stored electronically as long as ______. -They're stored for at least six years -Licensees are able to provide a paper copy upon commission request -The electronic storage system has unlimited capacity -The storage system used is on the commission's approved systems list

Brokers, associate brokers, and salespersons In Maryland, brokers, associate brokers, and salespersons must take 15 hours of continuing education during every two-year renewal cycle.

In Maryland, which type(s) of licensee must take 15 hours of continuing education every renewal cycle? Salespersons only Brokers, associate brokers, and salespersons Associate brokers only Brokers only

$50,000 Janice can file a claim against the Guaranty Fund since she has exhausted other options to collect the money, but the maximum payout for a single claim is $50,000 and cannot include her attorney's fees.

Janice is the victim of misrepresentation in the sale of her home. Her listing agent gave her poor advice that cost her $62,000. She has tried to recover the cost through several other means, but to no avail. If she files a claim against the Guaranty Fund, what is the maximum amount she could hope to recoup? -$62,000 plus her attorney's fees -$50,000 -$62,000 -$50,000 plus her attorney's fees

Affiliation with a supervising broker

Jason has completed 60 hours of Maryland pre-licensing real estate education, met the minimum requirements, and passed his licensing examination. What else does he need in order to receive an active license when applying for licensure? -Affiliation with a supervising broker -An additional 20 hours of education -An irrevocable consent form -Affidavit of signed consent and approval

His license has been expired too long. He has to start the pre-licensing process from scratch. Expired licenses can be reinstated within three years of the expiration date if CE requirements are met. If a license is expired for more than three years, the former licensee must complete all pre-licensing requirements again and be issued a new license.

Jerome let his license expire four years ago when his wife had twins and he decided to become a stay-at-home dad. Now that the twins have started preschool, Jerome would like to resume his real estate practice. What does he have to do in order to reinstate his license? -He must send the commission proof of his affiliation with a new broker. -He must complete all outstanding continuing education requirements and retake the Maryland exam. -He must complete all outstanding continuing education requirements. -His license has been expired too long. He has to start the pre-licensing process from scratch.

MREC's open house notice

Kavita is hosting her first open house. She's put out some refreshments, some printouts of the public MLS listing, and a sign-in sheet so she can (hopefully) get some viable buyer leads from the open house attendees. What other document does she need to display? A copy of the signed listing agreement MREC's open house notice Her real estate license A copy of the signed Understanding Whom Real Estate Agents Represent form

The property management agreement terminates

Licensed property managers in Maryland must maintain related records for at least five years, beginning on the date ______. The last tenant moves out The property management agreement commences The property management agreement terminates The property management agreement was signed

MREC must give 10 days' notice before a hearing.

MREC received Shanice's complaint against licensee Nick two years and eight months after he helped her buy her one-bedroom condo in Silver Spring. Nick and his broker responded to the copy of the complaint MREC sent them. Three weeks later, Nick and his broker received notice via certified mail that Shanice's claim warranted a hearing, which would take place in a week. What's wrong with this scenario? -MREC must give 10 days' notice before a hearing. -Complaints must be filed within two years. -Nick's broker is only contacted if the claim moves forward to a hearing. -Condominiums and co-ops are outside MREC's jurisdiction; Shanice should bring her complaint directly to her condo board.

MREC

Marjorie has been a licensed broker in Maryland for 45 years. She's sick of having to go through the renewal process every two years and wants to petition to allow seasoned licensees like her to renew every four years instead. Which entity should Marjorie contact about this idea? The state attorney general The Maryland Association of REALTORS® The Department of Labor, Licensing and Regulation The Maryland Real Estate Commission

None are required to be displayed.

Maryland broker Sandrine has five salespersons working under her supervision. Whose license must be displayed in the brokerage office? -Only the licenses of the five salespersons must be displayed. -Only Sandrine's license is required to be displayed; the salesperson licenses must be retained. -Sandrine's license must be displayed, as well as the licenses of the five salespersons. -None are required to be displayed.

"There's a provision right here that gives either of us permission to cancel the agreement early." Listing agreements may not automatically renew and must contain a provision granting either party permission to cancel the agreement early.

Nancy, a broker in Annapolis, is going over the listing agreement with her new client, Josie, who asks, "What if I need to cancel the agreement early?" What should Nancy tell her? -"I'm always flexible. If we need to, we'll add an amendment to the agreement granting you permission to cancel early." -"Listing agreements in Maryland must be for a definite amount of time. If it would make you more comfortable, we can set the expiration date for one month, then have it automatically renew unless you decide to cancel." -"You may cancel early. But per Maryland law, since listing agreements must have a definite termination date, if you do cancel I'll have to charge you a nominal cancellation fee." -"There's a provision right here that gives either of us permission to cancel the agreement early."

No. A counter-offer is considered accepted when the offer is signed and the offeror (in this case, the buyer) is notified.

Padma's buyer client made an offer on Tom's seller client's home, which the seller countered. Padma's client sent another counter-offer back to the seller on Monday. On Tuesday, Tom called Padma to tell her that the seller was accepting her client's offer, and he'd send over the signed paperwork on Thursday. Padma called her client to tell him the good news, but he told her he'd rather back out of the contract entirely. Can the buyer back out? -Yes. The offeror of a counter-offer has an exclusive right to rescind the offer at any time. -Yes. The buyer can back out of the counter-offer at any point before it's signed. -No. A counter-offer is considered accepted when the offer is signed and the offeror (in this case, the buyer) is notified. -No. A counter-offer is binding until it's rejected by the other party (in this case, the seller).

Maryland Real Estate Commission

Pamela has had her real estate broker's license for years. Which agency regulates the rules and requirements Pamela must follow to keep her license? Department of Education Department of Labor, Licensing and Regulation Maryland Real Estate Commission Department of Motor Vehicles

Yes. Advertising may not discriminate. Even if a property or transaction is exempt from fair housing law, as this one would be given that Mrs. Jones is renting a unit in her own residence, advertising may not discriminate.

Ricardo filed a complaint with the Maryland Commission on Civil Rights when he saw Mrs. Jones's rental advertisement for a one-bedroom apartment above her garage. The ad said, "heterosexual tenants only." Mrs. Jones claimed that she is allowed to discriminate because she lives in the home. Does Ricardo have a case? -Yes. Advertising may not discriminate. -Yes. Mrs. Jones may not discriminate against homosexuals in Maryland. -No. Mrs. Jones is exempt because she's renting a unit in her own home. -No. Only an actual tenant may file a complaint with MCCR.

Bob and Janine only Licensees must disclose their agency relationship to all unrepresented transaction parties in writing, using the Understanding Whom Real Estate Agents Represent form and making the disclosure no later than the time of the first scheduled face-to-face meeting.

Salesperson Katie represents seller Suzie in a transaction. Bob and Janine are buying Suzie's home, and they're not represented. To whom does Katie need to disclose her agency relationship using the Understanding Whom Real Estate Agents Represent form? Suzie and either Bob or Janine Suzie, Bob, and Janine Bob and Janine only Suzie only

Not protecting her client's interests by ensuring he had a copy of the disclosure/disclaimer statement before he made an offer Failure to ensure that a prospective buyer has the disclosure/disclaimer statement in hand before offer submission may be a violation of the licensee's obligation to protect the client's interests if this failure could result in a contract becoming voidable.

Sylvia's buyer client didn't have a copy of the property disclosure/disclaimer statement before he made an offer on a property. Now, a week after the offer was accepted, the seller's agent finally gives Sylvia a copy of the statement, and she sees that the home is riddled with defects. Not surprisingly, her buyer client wants to back out of the offer. What violation has Sylvia possibly committed? -Not protecting her client's interests by ensuring he had a copy of the disclosure/disclaimer statement before he made an offer -Not performing due diligence and inspecting the property herself before allowing her client to make an offer -Not showing reasonable skill and care and reviewing the offer to make sure the buyer had maintained his right to review the disclosure/disclaimer statement -Not showing loyalty to the seller by suggesting that they try to negotiate around the property defects before cancelling the contract entirely

Only to arrange a showing to a buyer

Under what conditions can licensees contact sellers who are under an exclusive listing agreement with another agent? -Only to arrange a showing to a buyer -To inform them that they will probably not be happy with the other agent -To let them know that they can provide the seller with an appraisal that may allow them to raise their asking price -To persuade them to break their contract with the other agent

To curb threats to the racial stability of an area.

What is the goal of the Maryland Real Estate Commission in declaring an area a real estate conservation area? -To prevent further destruction of an environmentally compromised area. -To curb threats to the racial stability of an area. -To preserve the historical architecture in an area. -To protect the wildlife in a residential community that borders an environmentally protected area.

Duplex built in 1959 A lead disclosure is required for residential properties built before 1978 because paint manufacturers used lead in paint before it was banned that year.

Which of the following properties would require a lead disclosure? -Commercial building built in 1960 -Duplex built in 1979 -Single-family home built in 1999 -Duplex built in 1959

Shawna displays the MREC notice informing consumers that she represents the seller.

Which of these licensees is correctly following MREC guidelines for hosting an open house? -Shawna displays the MREC notice informing consumers that she represents the seller. -Fabrizio displays his real estate license and wears a name tag. -Shelby makes sure to place a warning next to the plate of cookies she's put out, informing attendees that they contain peanuts. -Luke makes sure that all attendees sign an Understanding Whom Real Estate Agents Represent form.

Amelia, a retired community college professor who used to teach about home improvement

Which of these parties would be eligible to be one of MREC's consumer members? David, a semi-retired real estate broker with 25 years of experience Marco, a licensed electrician who has a 10% ownership interest in the commission Simone, a former licensee who gave up a lucrative real estate career four months ago to be a stay-at-home mom Amelia, a retired community college professor who used to teach about home improvement

Either the buyer's or seller's broker

Whose responsibility is it to ensure that a prospective buyer receives a copy of the Maryland Residential Property Disclosure and Disclaimer Statement prior to the buyer making a written offer to the seller? The seller only The seller's broker only The buyer's broker only Either the buyer's or seller's broker

Five years

Your client and you just successfully closed on a home. Early on in the transaction you collected an agency disclosure notice. How long do you have to keep the notice on file? Two years Three years Four years Five years

Meaningfully and conspicuously present

our broker's designated name must be included in all real estate advertising and it must be ______. Represented by a franchise logo Meaningfully and conspicuously present First on all advertising In the upper left corner

Within three years

If a license expires due to nonrenewal, it must be reinstated within what time period? Within two years Within three years Within one year Within 30 days

July 4

Shelby listed her seller client's condo on April 4. It went under contract May 16. That contract fell through on May 29. The listing agreement expired on July 4, with no other offers or contracts. On what date does the five-year record-retention clock start ticking? -April 4 -May 16 -May 29 -July 4

The broker's/company's name and address

What item(s) must be included on ALL real estate advertising in Maryland? -The broker's/company's name -The broker's/company's name and license number -The broker's/company's name and phone number The broker's/company's name and address

Listing agreement form

Which of these documents does NOT provide appropriate agency disclosure? Consent for Dual Agency form Understanding Whom Real Estate Agents Represent form Dual Agency Within a Team form Listing agreement form

The commission amount

Bella perused the listing agreement her new seller client had just signed. Looking it over, she realized that they'd forgotten to fill in one item that's required in Maryland listing agreements. What was missing? The amount of earnest money the seller requires The most recent property tax amount The seller's preferred closing date The commission amount

As a sub-agent for the seller

Cheyenne has been working with a buyer, though they don't have a signed agency agreement. When he finds a house he likes, Cheyenne helps him fill out the offer paperwork and submits it to the seller's agent. In what capacity is Cheyenne contributing to this transaction? -As an agent for the buyer -As a non-agent for the seller -As a sub-agent for the buyer -As a sub-agent for the seller

Every two years

In Maryland, how often must real estate salespersons renew their license? Every year Every two years Every two years in even years Every three years

Fax machine

In Maryland, you could be fined up to $1,000 per solicitation if you use this method to advertise and a prior business relationship does not exist. -For Sale signs -Telephone -Flyers -Fax machine

Linda displays her license at Gardner Homes. Sponsoring broker licenses must be displayed at the office at all times.

Linda is the sponsoring broker at Gardner Homes. Which of the following best describes what happens with her license? Linda can choose whether to store or display her license at Gardner Homes. Linda stores her license at Gardner Homes. Linda displays her license at Gardner Homes. Linda keeps a copy of her license at home for safekeeping.

Three

The Maryland Real Estate Commission creates several hearing panels consisting of how many members each? Three Nine Five 10

Devon, a broker who lost $10,000 when a seller client demanded that Devon pay to have her home staged, then cancelled the listing a week later when the house hadn't sold The Guaranty Fund is for consumers who have exhausted all other resources in collecting a judgment placed against a licensee (or an unlicensed employee of a licensee). The transaction in question must be related to a property located in Maryland.

Which of these parties could NOT file a claim with the Guaranty Fund? -Regina, a buyer who accrued $15,000 in repair costs because her agent didn't tell her that the roof leaked -Raul, who lost $68,000 in a real estate pyramid scheme initiated by a long-time broker -Yashika, a buyer who lost $26,000 when her checking account was hacked after her agent's assistant lost her earnest money check -Devon, a broker who lost $10,000 when a seller client demanded that Devon pay to have her home staged, then cancelled the listing a week later when the house hadn't sold

If neither party sends Melody a protest within 30 days, she may disburse the funds to the buyer as stated in her letter. If the broker decides to disburse disputed funds, the broker must give the parties 30 days' notice as to how the funds will be distributed. If no one protests in 30 days, the broker may disburse the funds.

After the seller backed out of the contract at the last minute, Maryland broker Melody determined that the buyer's earnest money, which she'd deposited in her firm's trust account, should be returned to the buyer. She sent certified letters to the buyer and the seller detailing this decision. What happens next? -If neither party sends Melody a protest within 14 days, she may disburse the funds to the buyer. -If neither party files a protest with the commission within 30 days, she may disburse the funds to the buyer. -If neither party sends Melody a protest within 30 days, she may disburse the funds to the buyer as stated in her letter. -If neither party sends Melody a protest within 30 days, she may disburse the funds to the commission, which will then disburse the funds to the buyer.

She must place a retraction in any publication that featured her ad. Penalties for violations include: fines, repayment of commission, license suspension/revocation, and requirements to take additional education. A broker's license may also be endangered if one of the broker's associated licensees commits a violation.

Aurelia is a relatively new salesperson who has been accused of discriminating against minorities in her real estate advertising. Which of the following is NOT a possible outcome if she's found guilty? -She has to pay a $5,000 fine. -Her license and her broker's licenses are suspended for 15 days. -She's required to take additional fair housing classes. -She must place a retraction in any publication that featured her ad.

$75,000 License law violators may incur penalties of $5,000 for the first violation, $15,000 for the second violation and up to $25,000 per violation after three or more violations.

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? $25,000 $75,000 $50,000 $100,000

Employee timecards

Bobbi received a notice from the Maryland Real Estate Commission that she was being investigated for failure to properly supervise her affiliated licensees. At her hearing next month, she needs to present evidence to the contrary. Which of the following is NOT considered evidence of reasonable and adequate supervision, as defined by the commission? -Employee timecards -Records that Bobbi reviewed advertising -Forms that each licensee signed stating that they'd received the firm's policies and procedures manual -Meeting sign-in sheets that licensees signed

Yes, she must cooperate with other brokers if it's in the seller's interest, and depending on the other offer terms, this deal might be. When it's in their seller client's interest, licensees must cooperate with other brokers and share commissions as previously agreed.

Brooke listed a home and the listing agreement detailed a 5% commission to be split equally with any cooperating agents. A week later, Brooke received an offer for $5,000 less than list price from Sam Crane, an agent that Brooke doesn't really care for given his overly aggressive negotiation style. She advises her client to decline the offer, saying it's only the first week and they'll likely get a better offer soon. Has Brooke violated any provisions of the Maryland Code of Ethics? -Yes, she failed to disclose the shared commission to Sam. -Yes, she must cooperate with other brokers if it's in the seller's interest, and depending on the other offer terms, this deal might be. -No, if she knows that Sam will be hard to work with, she should protect her client. -No, she's wise to advise the seller to not accept a less-than-listing offer so soon into the listing period.

Ministerial acts

Claudia is a new licensed assistant working for salesperson Monica. Claudia takes Monica's phone calls, answers basic questions about listings using the MLS sheet, and scans copies of paperwork when clients need it. What kind of tasks is Claudia performing for these parties? Customer acts Ministerial acts Non-agent duties Fiduciary duties

Devon and Courtney will be held to their previous dual agency consent and the transaction will continue unhindered.

Devon and Courtney both consented to dual agency when they signed their listing agreement with Chad from Crab Shack Homes, the Eastern Shore's premiere vacation home brokerage. But when another licensee from Crab Shack presented Chad with an offer, the couple got cold claws and decided they didn't want the potential conflict of interest with dual agency and withdrew their consent. Which of the following is NOT a potential outcome? -The buyers may find another broker to represent them. -Devon and Courtney will be held to their previous dual agency consent and the transaction will continue unhindered. -Crab Shack may terminate the listing agreement. -Devon and Courtney may terminate their agency relationship with Crab Shack and find another broker.

She can file a claim with the Maryland Real Estate Commission, which would then decide how the funds should be disbursed. Brokers may: hold disputed funds until both parties authorize their disbursement, file a bill of interpleader and deposit the funds with the courts to decide their disbursement, or hold the funds until one party files suit and a court orders disbursement.

Dorothy, a Maryland broker, deposited her buyer client's earnest money funds a month ago. The seller backed out of the contract two days before closing and claimed she was owed the earnest money because of the time the property had been taken off the market during contract negotiations. The buyer wants his earnest money back. Which of the following is NOT an option that Dorothy has regarding the dispute? -She can file a claim with the Maryland Real Estate Commission, which would then decide how the funds should be disbursed. -She can hold the funds until she receives both parties' authorization to disburse them. -She can file a bill of interpleader and deposit the funds with the courts, which would then decide their disbursement. -She can hold onto the funds until one of the parties files suit and a court orders the funds' disbursement.

Yes, as long as it does not discriminate based on race, color, national origin, or familial status. According to Maryland law, religious organizations can limit rental accommodations to members of their organization as long as they do not discriminate based on race, color, national origin, or familial status.

First Baptist Church in Annapolis owns two apartments next door to the church, which used to be housing for their ministerial staff. It does not rent to non-Baptists. Is this legal? -Yes, as long as it does not charge more than $250 per month. -Yes, as long as it does not discriminate based on race, color, national origin, or familial status. -Yes, as long as it does not own more than two units. -No, this is housing discrimination.

By predicting the seller's credit rating outcome, Ben crossed the line into giving advice that requires additional licensure.

Fresh out of community college and newly licensed as a real estate salesperson, Ben just took on a short sale as his first listing. Ben told his broker, Janine, that he could handle the transaction and had just advised his seller client that he could do it with minimal damage to the client's credit rating. Janine immediately took Ben off the listing and assigned it to a more experienced licensee. Why? -Short sales may only be listed by brokers or associate brokers. -By predicting the seller's credit rating outcome, Ben crossed the line into giving advice that requires additional licensure. -Salespersons must get their broker's permission before accepting a short sale listing or offering on a short sale property. -New salespersons aren't permitted to take on listings until after the 90-day probationary period.

If DeMarcus's failure could result in the contract becoming voidable Failure to ensure that a buyer receives the disclosure/disclaimer statement before offer submission may be a violation of the licensee's obligation to protect and promote the client's interests if this failure could result in a contract becoming voidable.

If DeMarcus fails to make sure that his buyer client, Ross, has received the property disclosure/disclaimer statement before he submits an offer, DeMarcus may be violating his obligation to protect Ross's interests ______. Only if there are significant defects in the property Unless DeMarcus thought the seller would provide it within five days of offer acceptance If DeMarcus's failure could result in the contract becoming voidable Only if Ross decides to press charges against him

Yes, but only if all parties are notified about the extra compensation.

Isla is the listing agent for Finn's property. Grayson represents Jaleel, who's purchasing the home. Because Isla personally approached Grayson at a real estate professional's happy hour to ask him if he had any clients who might be interested in her listing, Grayson wants to thank her by giving her a $500 bonus paid out of his commission. Is this permissible? -Yes, but only if all parties are notified about the extra compensation. -Yes, but only if Jaleel approves it. -No, because licensees aren't permitted to compensate each other. -No, because any bonus should have been included in the original buyer brokerage agreement.

Yes, as long as he documents the commission reduction in writing and discloses it to all parties. Rebates (such as a commission rebate or cash payment) paid to a client or customer of the licensee, even though the client/customer is not licensed, are permitted. Rebates must be documented in writing and disclosed to all parties to the transaction.

Jim's had one heck of a time getting his latest listing sold. His seller client nitpicked every single item that the buyers asked her to repair after the home inspection. She was about to let the deal fall through over it until Jim offered to rebate 0.5% of his commission back to the seller. Does Maryland license law permit Jim to do this? -Yes, as long as he documents the commission reduction in writing and discloses it to all parties. -Yes, but only if the listing agreement is also updated to reflect the new commission rate. -No. Licensees aren't permitted to pay (or rebate) compensation to unlicensed individuals. -No. The commission rate written into the listing agreement is binding.

Yes, as long as he documents the commission reduction in writing and discloses it to all parties.

Jim's had one heck of a time getting his latest listing sold. His seller client nitpicked every single item that the buyers asked her to repair after the home inspection. She was about to let the deal fall through over it until Jim offered to rebate 0.5% of his commission back to the seller. Does Maryland license law permit Jim to do this? Yes, as long as he documents the commission reduction in writing and discloses it to all parties. Yes, but only if the listing agreement is also updated to reflect the new commission rate. No. Licensees aren't permitted to pay (or rebate) compensation to unlicensed individuals. No. The commission rate written into the listing agreement is binding.

Yes, Jorge has engaged in self-dealing.

Jorge's firm has just been assigned as the listing brokerage for a foreclosed condo unit in Jorge's own building. Jorge knows that given the unit's condition, it's bound to sell for far less than market value of a nicer unit such as his. Worried that the new listing will bring down his unit's value, Jorge quickly lists his unit at current market price and sells it before the foreclosed listing hits the market—at a price $100,000 less than Jorge sold his unit for. Has Jorge done anything wrong? -No, he was savvy to sell his condo unit before prices dropped. -No, his unit was in better condition and would've sold for more anyway. -Yes, Jorge has engaged in blockbusting. -Yes, Jorge has engaged in self-dealing.

The owner's permission to advertise the property

Keisha is a real estate salesperson in Maryland. She's got a new listing and is anxious to advertise it for sale. What must she have first so she can do this? -A signed property disclosure/disclaimer statement -The owner's permission to advertise the property -A signed buyer agency agreement -Approval from the commission to run the ad

She is out of luck and won't be able to request further action from MREC.

MREC received a complaint from Rose, stating that licensee Stan had placed a sign on her property without her permission. As a result, she received a $250 fine from her homeowners association for illegal signage. MREC notified Stan and his broker about the complaint, and Stan's broker responded by sending a copy of an email from Rose, stating that the firm could have a sign installed. As a result, the hearing panel dismissed the claim. What can Rose do now? -She can wait six months and then file another claim. -She can appeal the hearing panel's decision. -She can seek damages, including emotional distress and attorney's fees, from the Guaranty Fund. -She is out of luck and won't be able to request further action from MREC.

Hearing panels have three members.

MREC's five-member hearing panel reviewed Rachel's complaint against David, a supervising broker of a 10-member firm. The panel then forwarded the claim to Investigative Services, which determined that a hearing was necessary. MREC gave both Rachel and David 10 days' notice before the hearing, to which they each brought their attorneys. What's wrong with this scenario? -Attorneys are not allowed to accompany licensees to a hearing. -Consumers may only file complaints against brokerage firms, not individual licensees. -Hearing panels have three members. -Hearings occur before Investigative Services gets involved.

Mark cannot file a claim with the Guaranty Fund because the property purchased was in Pennsylvania.

Mark lives in Maryland and purchased property in Pennsylvania. His real estate agent gave him poor advice, which cost him $52,000. Which of the following is true? Mark can file a claim with the Guaranty Fund, but he can only recover $50,000 of his loss. Mark can file a claim with the Guaranty Fund to recover his loss. Mark cannot file a claim with the Guaranty Fund because the property purchased was in Pennsylvania. Mark can file a claim with the Guaranty Fund to recover his loss, but only after he has exhausted other methods.

Only offers A, C, and D, since they're in writing Licensees must present all written offers and counter-offers to their clients in full, in hard copy or electronic format. Since offer B isn't in writing, Monique isn't required to present it, but it would be prudent for her to request it in writing.

Monique received four offers on her client's listing. Offer A is a written offer that the buyer's agent dropped off at Monique's office. Offer B is an offer that the buyer's agent communicated to Monique over the phone. Offer C is a written offer that Monique received via email. Offer D is a written counter-offer from a buyer that Monique's client countered earlier in the week. Which offers must Monique present to her client? Only offers A, C, and D, since they're in writing Only offers A, B, and C, since they supersede a counter-offer Only offer D, since it's a counter-offer All of them

He's selling his aunt's home. Licensees must disclose when they're acting on behalf of an immediate family member, an entity in which they have an ownership interest, or another affiliated licensee/employee of their brokerage or in their team/group.

One of the things that Tyrone loves being able to do as a licensee is help his friends, family, and business associates with their real estate needs. In which of these situations does Tyrone NOT need to disclose his personal interest in the transaction? -He's selling a home on behalf of another salesperson in his brokerage. -He's selling his aunt's home. -He's selling his brother's home. -He's selling his own home.

Yes, but Phoebe may request a hearing to appeal the revocation. MREC may summarily (immediately and prior to a hearing) revoke a license if the licensee is convicted of a serious license law violation and the appeals process has been exhausted, or if the licensee has a license in another jurisdiction revoked.

Phoebe's New Jersey real estate license was revoked after she was convicted of intentional misrepresentation. When the Maryland Real Estate Commission learns of this, it summarily revokes her Maryland salesperson's license. Does it have the power to do this? -Yes. Revocation in another state automatically means her Maryland license must be revoked. -Yes, but Phoebe may request a hearing to appeal the revocation. -No. MREC may not revoke a license before the licensee has a chance to present her case at a hearing. -No. MREC would have to prove that she has violated Maryland license law in order to revoke her Maryland license.

At least two more years of real estate experience The five MREC members who are licensed real estate professionals must each have at least 10 years' experience, and they must have resided in the area from which they're appointed for at least five years in order to qualify for membership.

Phyllis has learned that the Maryland Real Estate Commission's real estate professional member from the Eastern Shore is vacating his seat soon. Phyllis has eight years of experience as a salesperson, and she's lived in Ocean City for six years. What else does Phyllis need in order to secure her nomination by the governor? -A notarized letter from her broker, granting her permission to focus on commission business for the term of her membership -At least four more years' residency on the Eastern Shore -At least two more years of real estate experience -Her broker's license for at least five years

Rhetta only has five days in which to send the sellers this information. Buyers have five days from the time they receive the report to send a copy of the report, plus a written itemization of the hazards, and how they must be abated to the seller.

Rhetta received the lead-based paint inspection report for the two-bedroom condo she's purchasing. The report found evidence of lead-based paint in the living room, dining room, and kitchen. Within the 10-day deadline, Rhetta made sure to send the sellers a copy of the report, an itemization of the hazards, and guidelines on how the sellers should abate them. What's wrong with this scenario? -Rhetta only has five days in which to send the sellers this information. -Rhetta should've included photos of affected areas and the original report, not a copy. -Condos aren't subject to lead-based paint disclosure or abatement law, so Rhetta will have to mitigate this hazard herself. -Rhetta should've sent this information to the condo board, not the sellers, since it's the board's responsibility to abate the lead hazards.

Ron should make sure that Tammy understands her rights and obligations regarding the property disclosure/disclaimer statement. While listing agents should make the disclosure/disclaimer statement available to buyers, Ron's not off the hook; he needs to make sure that Tammy not only receives it, but also that she understands her rights and obligations regarding it.

Ron prides himself on providing his buyer clients with consistently stellar representation. His latest buyer client, Tammy, is purchasing a fixer-upper on Walnut Street, just a stone's throw from the railroad tracks. What's Ron's responsibility regarding making sure Tammy is informed about the property's condition? -Ron is off the hook here; it's the listing agent's responsibility to make the property disclosure/disclaimer statement available to Tammy. -Ron should perform a walk-through inspection of the property and document any defects he sees on the property disclosure/disclaimer statement. -Ron should make sure that Tammy understands her rights and obligations regarding the property disclosure/disclaimer statement. -Ron must ensure that Tammy receives the property disclosure/disclaimer statement within 10 days of making her offer.

He could be disciplined by the commission and receive a possible lawsuit for intentional interference. Failure to present an offer or counter-offer is cause for disciplinary action. The seller could also file a lawsuit against Rumi for intentional interference.

Rumi was on vacation in St. Croix when he received a written offer, via email, for his seller client's property, which had been on the market for two months with no offers. He decided to hold onto it until he got back a week later, so he could present it to his client in person. The next day, his seller client called Rumi's office to cancel the listing. When Rumi told the former client that he'd had an offer, she complained to MREC about him. What are the possible penalties Rumi could face? -None; since the client cancelled the listing, Rumi is not at fault. -Rumi could receive disciplinary action from the commission, including jail time. -Rumi could be subject to disciplinary action from local board of REALTORS®. -He could be disciplined by the commission and receive a possible lawsuit for intentional interference.

Bring a private legal action against Chuck to recover up to $3,000, as well as reasonable attorney's fees A homeowner can bring a private action against a foreclosure consultant for damages incurred because of a practice prohibited by PHIFA. If the court finds that the defendant willfully or knowingly violated PHIFA, the court can award damages equal to three times the amount of actual damages. The homeowner can also seek reasonable attorney's fees.

Ruthe lost her job last year, and she's fallen three months behind on the mortgage payments for her Baltimore home. She seeks the services of Chuck, a foreclosure consultant. Chuck charges Ruthe $1,000 up front, then disappears and fails to return Ruthe's calls. PHIFA permits Ruthe to ______. -Bring a private legal action against Chuck to recover up to $3,000, as well as reasonable attorney's fees -Bring a private legal action against Chuck to recover up to $500, though Chuck cannot be required to pay her attorney's fees -Bring a private legal action against Chuck to recover up to $1,000, though Chuck cannot be required to pay her attorney's fees -Do nothing, as a private action cannot be brought against a foreclosure consultant

-The license should've also come with a pocket card.

Seo-yun completed all of her Maryland salesperson licensure requirements and submitted her documentation and licensing fees to the commission. A few days later, her broker presented her with her new license. What's wrong with this scenario? -The license should've also come with a pocket card. -Licenses are issued at least 30 days after submission of documentation, not within a few days. -Seo-yun should've submitted her documentation to her broker, not the commission. -Seo-yun should've gone to the commission office to pick up her new license.

Yes, under state fair housing laws Maryland's state fair housing laws prohibit discrimination based on the protected class of sexual orientation; federal fair housing laws do not offer such protection.

Shawn and his life partner, Dennis, recently put an in an offer on a home. The seller tells his agent to reject the offer, because he won't sell to "gays." Are Shawn and Dennis protected under fair housing laws? Yes, under federal fair housing laws Yes, under both federal and state fair housing laws Yes, under state fair housing laws No. There is no federal or state fair housing protection based on a person's sexual orientation.

"Well, since this means your license is suspended, we'll see you back at the office when you reimburse the fund." If the commission grants a consumer payment from the Guaranty Fund due to a licensee's conduct, that licensee's license is automatically suspended until the licensee repays the amount in full, plus at least 10% interest.

The Guaranty Fund paid a consumer's $15,000 claim because of licensee Ben's negligence. Ben is breaking the news to his broker. How's his broker likely to respond? -"Well, since this means your license is suspended, we'll see you back at the office when you reimburse the fund." -"As long as you reimburse the fund for the full claim amount plus 12% interest within 30 days, you can keep practicing real estate." -"We'll both have a lot of time on our hands until you reimburse the fund, since both of our licenses are now suspended." -"Luckily, your E&O insurance covers this issue, so you can get back to business as usual. I hope you've learned your lesson!"

The number of mandatory work hours expected of independent contractors The commission may consider the number and routine hours of the broker and managers, but brokers may not set a mandatory work schedule for independent contractors.

The Maryland Real Estate Commission may discipline brokers who do not reasonably and adequately supervise their affiliated licensees. Which of the following does the commission NOT consider in determining whether supervision was reasonable and adequate? -The number of affiliated licensees -The number of branch offices and managers in each office -The types of real estate activities the firm performs -The number of mandatory work hours expected of independent contractors

Three hours of ethics and 1.5 more hours of electives Salespersons are required to complete 15 hours of continuing education (CE) during every two-year renewal period, consisting of: three hours each of legislative updates, agency, and ethics, 1.5 hours of fair housing, and 4.5 hours of electives.

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 and three more hours of electives -Three hours of ethics and 1.5 more hours of electives -1.5 hours of ethics and 1.5 more hours of electives -1.5 hours of ethics and three more hours of electives

Her former broker returns them to the commission.

When Janet, a licensed salesperson, transfers to a new brokerage, what happens to her license and pocket card? -Her former broker gives them to Janet to provide to her new broker. -Her former broker destroys them. -Her former broker returns them to the commission. -Her former broker gives them to the new broker.

It is suspended

When a payment is made on your behalf from the Guaranty Fund, what happens to your real estate license? It is revoked. It is suspended. Nothing! That is what the fund is for! It depends upon the situation.

Antonio paid his assistant $100 for staying late one evening to help a client fill out an offer form when Antonio had to leave unexpectedly. Commissions may not be paid to unlicensed individuals based on their performance of real estate activities for which a license is required.

Which licensee has violated Maryland license law concerning the use of unlicensed assistants? -Stevie gave his assistant a $1,000 bonus because of all the hard work she did getting the firm's records management system up to par. -Antonio paid his assistant $100 for staying late one evening to help a client fill out an offer form when Antonio had to leave unexpectedly. -Reid has two assistants; one he pays an annual salary, and the other he pays by the hour. -Broker Sloane hired an assistant to answer phones, process contract paperwork, and create MLS listings for his approval.

Age and lawful income

Which of the following classes are not protected by federal or Maryland fair housing law, but may be protected by local ordinances in Maryland? Disability and gender identity Age and lawful income National origin and sexual orientation Marital status and familial status

Offering earnest money deposit advice Ministerial acts do not require that the licensee advocate for or advise the customer. Licensees should not use their discretion or judgment in assisting customers.

Which of the following does NOT qualify as a ministerial act under Maryland law? -Answering informational questions about a listing -Offering earnest money deposit advice -Writing a purchase offer as instructed -Granting property access to a home inspector

Deirdre enters into a listing agreement with Peter and agrees to pay him all of the sale proceeds in excess of the $250,000 she needs to make off of the sale of her condo.

Which of the following is NOT an example of a legal agency agreement in Maryland? -Cybill enters into a listing agreement with Antwon and agrees to pay him 5% of the property's purchase price. -Marijka enters into a buyer representation agreement with Timothy and agrees to pay him a flat fee of $3,500 if the listing agent doesn't share the commission. -Paulo enters into a buyer agency agreement with Danika and agrees to pay her 1% of the purchase price. -Deirdre enters into a listing agreement with Peter and agrees to pay him all of the sale proceeds in excess of the $250,000 she needs to make off of the sale of her condo.

The licensee fails to disclose personal interest in a transaction.

Which of the following is NOT cause for the Maryland Real Estate Commission to summarily suspend a licensee's real estate license? The licensee is convicted of a felony. The licensee fails to promptly account for trust funds. The licensee fails to disclose personal interest in a transaction. The licensee fails to provide trust fund account records to the commission.

The licensee fails to disclose personal interest in a transaction. MREC may summarily suspend a license if the licensee is convicted of a felony, or if the licensee fails to: promptly account for trust funds, provide trust fund records, or disclose to the commission that the licensee has been convicted of a felony.

Which of the following is NOT cause for the Maryland Real Estate Commission to summarily suspend a licensee's real estate license? The licensee is convicted of a felony. The licensee fails to promptly account for trust funds. The licensee fails to disclose personal interest in a transaction. The licensee fails to provide trust fund account records to the commission.

Commission members serve four-year terms. MCCR is made up of nine governor-appointed members and an executive director who serve six-year terms.

Which of the following is NOT true regarding the Maryland Commission on Civil Rights? -The commission is made up of nine members. -Commission members serve four-year terms. -The governor appoints members to the commission. -The commission is managed by an executive director.

The buyer must work exclusively with the broker during the term of the agreement.

Which of the following is one of the buyer's responsibilities as stated in the Maryland exclusive buyer agency agreement? -The buyer must work exclusively with the broker during the term of the agreement. -The buyer has seven days to consent to being represented by a designated or dual agency before terminating the agreement. -The buyer must attend three open house events on their own. -The buyer must make a purchase offer on the first property the agent finds that meets the buyer's needs.

On Friday, Shanice deposited her client's earnest money check in her personal account to keep it safe until she could transfer it to her brokerage's escrow account on Monday. Trust funds may only be used for their intended purpose. Commingling (mixing trust funds with personal/operating funds) and conversion (using trust funds for a purpose other than the purpose for which they're entrusted to the licensee) are illegal.

Which of the following scenarios depicts the illegal handling of trust funds in Maryland? -Salesperson Irene gave her client's $10,000 earnest money check to her broker, Paul, for safekeeping until the property went under contract. -Kelly transferred her client's $5,000 earnest money deposit from her firm's escrow account into the title company's account a few days before closing. -Maxwell deposited his client's earnest money check six days after the property went under contract. -On Friday, Shanice deposited her client's earnest money check in her personal account to keep it safe until she could transfer it to her brokerage's escrow account on Monday.

Once a counter-offer has been made, the prior offer is cancelled. Once a counter-offer has been made, the prior offer is cancelled. There is no retracting a counter-offer and returning to the prior offer, although a new counter-offer can do that if both parties agree and sign.

Which of the following statements about counter-offers is true? A counter-offer can be retracted only once. Only the seller can make a counter-offer. Once a counter-offer has been made, the prior offer is cancelled. To be legal, counter-offers must be numbered or lettered and dated.

The buyer needed his earnest money back in order to pay the down payment. Brokers must hold trust money until the transaction closes, the trust money's beneficiary breaches the contract terms, or the broker receives either the parties' written instructions or a court order instructing him or her to disburse the funds.

Which of these is NOT a circumstance that would result in a Maryland broker releasing trust money she was holding? -The transaction closed. -The beneficiary of the trust money failed to complete the contract terms. -The buyer needed his earnest money back in order to pay the down payment. -The broker received a court order instructing her to disburse the trust money.

Ramon, a licensed home inspector who allegedly neglected to properly inspect a foundation that turned out to be cracked MREC does not have jurisdiction over licensed home inspectors. MREC may investigate and seek disciplinary action against real estate licensees, brokerage firms, and individuals who perform real estate services without a license.

Which of these parties is the Maryland Real Estate Commission NOT authorized to investigate for license law violation? -Ramon, a licensed home inspector who allegedly neglected to properly inspect a foundation that turned out to be cracked -Florence, an unlicensed assistant who allegedly negotiated deals for her licensed employer while he was on vacation -David, a real estate salesperson who allegedly deposited earnest money into his personal checking account -Helping Hand Realty, a brokerage firm that allegedly discriminated against rental applicants

Mario, an unlicensed assistant who filled in for salesperson Todd and showed buyer Theresa the property she ended up buying Licensees may sue for compensation earned only if they were licensed at the time in question and a brokerage agreement was in place. Not only does Mario not have a case, but he's also been performing real estate activities without a license!

Which of these parties likely does NOT have the right to sue for commission earned as part of a Maryland real estate transaction? -Poppy, a salesperson whose client refused to pay her commission even though she showed him the property he bought during the term of their agency agreement -Tatum, a licensed assistant who acted as a sub-agent for her broker's seller client and hosted several open houses -Zander, a broker who procured a list-price buyer for his seller client, but the seller declined the offer and cancelled the listing -Mario, an unlicensed assistant who filled in for salesperson Todd and showed buyer Theresa the property she ended up buying

Jackson, an associate broker, acts as dual agent and designates two salespersons from the brokerage to represent each party.

Which of these scenarios depicts a potentially illegal dual agency arrangement in Maryland? -Corrina gives preliminary consent to dual agency when she signs her listing agreement, then re-affirms her consent when an offer is made. -Sandrine represents the seller in a transaction, and another licensee from her firm represents the buyer. Both parties have consented to dual agency. -Parker represents a seller, and Jane, a licensee with another firm, delivers a buyer customer's offer for that seller's property. -Jackson, an associate broker, acts as dual agent and designates two salespersons from the brokerage to represent each party.

Upon reviewing a complaint against licensee Derek, an administrative law judge deemed it worthy of further investigation. The hearing panel reviews complaints, dismissing invalid claims and forwarding valid ones to Investigative Services. If warranted, an ALJ will preside over a hearing and then make a recommendation to the hearing panel regarding disciplinary action.

Which of these scenarios does NOT accurately reflect the MREC complaints and investigations process? The hearing panel forwarded Charlene's complaint against licensee Todd to Investigative Services for further inquiry. Upon reviewing a complaint against licensee Derek, an administrative law judge deemed it worthy of further investigation. Finding no evidence of misconduct, the hearing panel reviewing Monica's complaint dismissed the claim. The hearing panel decided against the administrative law judge's recommendation to suspend Swaroop's license.

Deirdre just put her niece's house on the market. Licensees must disclose when they're acting on behalf of an immediate family member, an entity in which they have an ownership interest, or another affiliated licensee/employee of their brokerage or in their team/group.

Which of these scenarios does NOT require a Maryland licensee to disclose their licensed status? Paul has listed his parents' Ocean City beach house for sale. Carol's brother is representing Carol in her purchase of a condo in Columbia. Pat is selling a property that his investment company flipped. Deirdre just put her niece's house on the market.

Sexual orientation and gender identity

Which two Maryland protected classes, while not specified in federal fair housing law, may still qualify for protection under the federal Fair Housing Act under certain circumstances? -Gender identity and marital status -Sexual orientation and gender identity -Marital status and sexual orientation -Age and marital status

Licensees must protect and promote their client's interests without compromising their duties to the other parties.

While hosting an open house, Nathan speaks witha pair of unrepresented prospective buyers who are interested in the house but think the listing price is a little high. They ask him what other incentives they could include in their offer to get the seller to come down on their price. If Nathan helps them, what Maryland Code of Ethics guideline may he be breaching? -Licensees must present the Understanding Whom Real Estate Agents Represent form to every open house attendee. -Licensees must protect and promote their client's interests without compromising their duties to the other parties. -Licensees must disclose any personal interest they have in a property or transaction. -Licensees may not accept compensation from more than one transaction party without all parties' knowledge.

Make note of the seller's refusal on the agency disclosure, being sure to include the date when you presented it to the person.

You are the buyer's agent and are meeting with the unrepresented seller for the first time. You present the seller with the Understanding Whom Real Estate Agents Represent form and explain that you represent the buyer. You then ask the seller to acknowledge receipt of the agency disclosure, but the seller refuses to sign the form. What do you do? -Make note of the seller's refusal on the agency disclosure, being sure to include the date when you presented it to the person. -Tell the seller that they are required by law to sign the form. -Explain to the seller that unless the disclosure is acknowledged, the transaction cannot continue. -Throw up your hands in disgust and storm out of the room.