Daisy3
The federal penalty for a pattern of violations of the can spam act is
$11,000 per call
Wires of a timeshare have how many days after the contract date within which to cancel the purchase contract
10 calendar days
Renewal of a real estate license requires
15 hours of continuing education, every two years
To qualify for a mechanics lien, the work must improve the value of the property by
15%
To obtain a Maryland real estate broker license applicant must be at least
18 years old
A real estate sales person must have how many years experience to become a team leader
3
A protest to a real estate broker propose distribution of a trust must be made within
30 days
What is the term of a real estate commissioner?
4years
The record retention requirement for a real estate licensee is
5 years
Recovery against the real estate, guarantee fun cannot exceed
50,000 per claim
To obtain a real estate sales person license, the applicant must have
60 hours of pre-license education
A brokerage relationship begins when
A client enters a brokerage agreement
Which of the following is not an area which requires written procedures and policies
A dress code
Which of the following is not required to obtain a real estate sales person license?
A high school diploma or equivalent
Which of the following is exempt from obtaining real estate license
A lawyer, who does not provide real estate brokerage services
Which of the following is not required in an agency relationship express agreement?
A maximum term of one year
After the termination of a brokerage agreement, the broker must
Account for all trust money
And discharging the customary duties of a licensee in a brokerage relationship, the licensee must do all of the following, except
Advise the client regarding the legal implications of the transaction
A real estate licensee must do all of the following, except
Advisor. Client regarding the legal implications of using comparable sales in pricing.
A real estate broker must exercise, reasonable, and adequate supervision over
All affiliated licenses
What type of agency relationships must not be interfered with by other licensees during this term, according to the Maryland code of ethics?
An exclusive listing
Which of the following is not require by the understanding home real estate agents represent disclosure
An expectation of how real estate licensee is paid
A broker may retain a sales person as
An independent contractor, or Employee
A Maryland real estate broker must maintain
An office within the state
The supervision responsibilities of a branch manager
Are in addition to the responsibilities of the broker
A real estate broker may retain a real estate license
As an independent contractor, employee or
Which of the following statements is true regarding dual agency?
At least three real estate licenses are needed for a firm to engage dual agency
Which of the following is not a reason for which a real estate licensee maybe just
Charging a commission in excess of 35%
Before making a telephone solicitation, I real estate licensee must
Check the federal state and Company. Do not call list.
A disciplinarian order may be appealed to
Circuit court
Maryland Real Estate Commission
Conducts disciplinary hearing regarding real estate licensees
I real estate licensee must be informed on
Current market conditions
To engage in the agency transaction, the broker must
Designate to enter company, agent, ICA's
When I real estate person is preparing a competitive market analysis, which includes property in which the sales person has an interest than the sales person, must
Disclose the interest to the client
I real estate licensee must do all the following except
Disclosed to all parties all material facts related to the transaction
Which of the following is not required in a brokerage agreement
Disclosing how much time the broker will devote to the transaction
If a complaint filed against a real estate, licensee is not referred to an investigation, it must be
Dismissed
A license of a real estate sales person must be
Displayed in a conspicuous place in the broker's office
The supervision responsibilities of a real estate broker
Do not create an employer employee relationship with a licensee
Hey security deposit for a residential unit in Maryland
Do not exceed two months rent
Understanding home real estate agent represent disclosure
Does not apply to a lease of 125 days or less
And intercompany agent, ICA is designated by a broker in
Dual agency transactions
Which of the following is not a protected class under Marilyn's fair housing act
Employment status
To be enforceable a lease must be in writing, if the term
Exceeds one year
Which of the following is some thing for which a real estate licensee may be disciplined
Except compensation from someone other than the broker, with whom the license he is affiliated
Which of the following is not something for which a real estate licensee may be disciplined by the commission?
Failing to account for the firms, real estate signs
Which of the following is considered by the Maryland real estate code of ethics to be a possible violation of a license, is obligation to protect and promote the interest of a client
Failure to obtain the property disclosure statement before an offer is made
A Maryland real estate licensee must protect the public against
Fraud
I real estate licensee must do all of the following, except
Generate a come, pretensive appraisal on the carpet
A new home builder must disclose
If the builder participate in a new home warranty, security plan
Ad valorem real tax bills in Maryland are issued
In July and August of each year
For protection of parties, licensee must ensure that all financial obligations relating to the real estate transactions are
In writing
I'll advertising by a team must
Include the name of at least one team member
Which of the following is not confidential information
Information that relates to the property that is subject to a transaction
When does the duty of confidentiality expire?
It does not expire
The disclosure called understanding who real estate agent represent
It's only required in residential transactions
A licensee, holding a property open to the public, making play with the understanding home real estate agents represent disclosure by
Just laying in a conspicuous Manor, a notice to prospective buyers that the license the president on the property represents the seller
Marilyn's housing discrimination laws enforced by the
Maryland commission of civil rights
Real estate licensee records
May be stored electronically, if certain conditions are met
A person with an inactive license
May not provide real estate brokerage services
Trust money is
Money that a person and trust to a real estate licensee to hold for someone for the benefit of the owner
All real estate documents
Must be signed by a licensee
A branch manager
Must exercise responsible, and adequate supervision, overall brokerage services at the branch office
A real estate advertisement
Must include a real estate licensees name or designated name
All advertising done by real estate firm must include the firms
Name
When advertising property for sale, real estate sales person must include
Name of the real estate firm with whom the real estate sales person is associated
Unless a licensee is holding an open house, understanding home real estate agent represent disclosure must be
No later than the first scheduled face-to-face contact with the customer
To open a branch office the broker must
Obtain a branch office certificate from the real estate commission
When buying on the license is only half the license is status, mostly disclose in writing to the seller further a licensee is considered to be acting on. The license is only half when the licensee is acting on behalf.
Of a member of the licenses, immediate family
Which of the following is not a determinative of whether a brokerage relationship exists
Payment or promise of payment to the broker
Penalties collected by the real estate commission must be
Placed in a general fund of the state
Broker Bob left home without his wallet. I needed to conduct some business that required his pocket card. Explain the situation to broker Bernie and then loan just pack of hard to broker Bob which statement is true.
Poker, Bernie is subject to the discipline
An unlicensed real estate assistant may
Prepare flyers and promotional information for approval by licensee and supervising broker
When I duty to maintain trust, money, terminates, the real estate broker must
Probably account for the trust money
Homebuyer Bob gave earnest money to Sally sales person for the purchase of a house Sally must
Probably deliver it to her broker
A timeshare developer must deliver to the perspective buyers
Public offering statement
Regulations regarding the real estate brokers law are issued by the
Real estate commission
Who conducts real estate licensee disciplinary hearing's
Real estate commission in the office of Robert back to the, administrative hearings
Which of the following is not a type of license issued in Maryland?
Real estate managing Broker
When I real estate commission request a document from a real estate person the document must be provided at the expense of the
Real estate sales person
Which of the following is permitted by Marilyn's fair housing laws
Refusal to rent to a couple because of their financial status
A real estate broker who has received earnest money, must deposit the money in a trust account within
Seven business days
An unlicensed real estate assistant may not engage in which of the following
Showing property
An owner of real estate may sell unimproved lots without a license
Six or if you were unimproved, lots are sold per year
Which of the following requires a real estate license?
Someone who for compensation help someone buy property
A brokerage agreement must
Specify whether the broker is authorized to cooperate with other brokers
Maryland real estate appraisers are regulated by the
State commission of real estate appraisers at home inspectors
Which of the following is not required to reactivate a real estate sales person license from inactive status
Success completion of a reactivation exam
One fact to be considered in determining whether broker supervision is reasonable and adequate is
The availability of training or education sessionS at least every two months
When a complaint is filed against a broker alleging, a failure to provide responsible an adequate supervision of affiliated licensees, who has the burden of proof
The broker
The parties to a brokerage agreement are
The broker and the client
Which of the following does not terminate a brokerage relationship?
The broker disliking the client
A property seller subject to a homeowners association which of the following is the seller not required to disclose
The building cost and exact living area of a unit
It is legal to refuse to sell a residential property to someone based on the fact that?
The buyer has children
The understanding whom real estate agent represent disclosure, must include all of the following, except
The duty of a buyers agent to explain the tax ramifications of a transaction
A real estate licensees primary obligation to a client is
The obligation of absolute Fidelity
A broker may designate to members of the same team as intercompany agents for the seller and the buyer in the same transaction if
The parties have First been advised in writing that the licenseeS are part of the same team
They sign giving notice to a property is for sale requires
The property owners consent
The Marilyn code of ethics for real estate is adopted by
The real estate commission
In a real it, residential real estate transaction what does not involve a buyers agent
The sellers broker must disclose to prospective buyers that the sellers agent represents the seller
Real estate licensee records may be stored electronically if
The storage records cannot be a restore deleted
Who is responsible for supervising the members in a real estate team
The team, leader, branch manager, and broker
How many years of active experience is a real estate sales person are required to obtain for a real estate broker license
Three years
Which of the following is not a general duty of a real estate broker?
To explain the legal consequences of a transaction
Authorization for a branch office is valid for
Two years
A Maryland real estate broker license expires
Two years from the date it was issued
When may a licensee except compensation for more than one party in a transaction
When all parties have full knowledge, that compensation is being paid by more than one party
Which of the following does not bylaw, considered a material faction relating to the property?
Whether a homicide or suicide occurred on the property
The negotiations of a buyers broker concerning property, subject to an exclusive listing should be carried on
With the listing broker