section 25 unit 1 exam
What is the highest amount you can be fined by the Maryland Real Estate Commission for a serious violation?
$25,000
Miranda has been charged with mishandling of her client's earnest money deposit. She's collected her supporting documentation and asked her broker to speak on her behalf at her hearing. Who will be presiding over the hearing?
An administrative law judge
Gillian filed a complaint with MREC, alleging that her agent, Walter, discriminated against her by not showing her houses in areas that he "didn't think were safe enough for a single woman." Walter responds to the complaint by sending MREC a copy of an email exchange between himself and Gillian in which she appears to agree to the arrangement. A few weeks later, Walter receives notice of a hearing regarding the complaint. What should he do?
Attend the hearing.
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?
Contact information for MREC's legal hotline
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?
Hearing panels have three members.
You decide to take the earnest money deposit you've been given and place it in your personal account until it is needed at closing. Failing to properly safeguard and deposit an earnest money check is an example of what type of violation?
Improper handling of trust money
Shaina has hired Jerry to assist her with finding a new home, and just found out that his real estate license was revoked. Where can Shaina go to file a complaint against Jerry?
Maryland Real Estate Commission website
The Maryland Real Estate Commission received a complaint claiming that Michael, a licensed electrician, was receiving referral fees from Own It Realty Group in exchange for giving sub-par wiring the green light during inspections. What's the maximum penalty MREC can impose upon Michael?
Nothing; MREC doesn't have jurisdiction over licensed electricians.
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
Which of these parties is NOT notified when a licensee's license is suspended?
The licensee's clients
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, but Phoebe may request a hearing to appeal the revocation.
As a result of Maryland Real Estate Commission hearings, who makes recommendations to the commission regarding disciplinary actions?
an administrative law judge
Broker Zeke is busy and doesn't have time to go to the bank, so he deposits his client's earnest money funds into his personal account. He plans to move the funds to the appropriate account within a week. This violation is an example of ______.
commingling
Members of the Maryland Real Estate Commission serve terms of how many years?
four