David Zepeda Maryland Real Estate Exam

Raul, a broker licensed in Maryland, has just signed on to manage a landlord's 15-unit apartment building. Which of the following tasks may Raul NOT perform without the owner's express knowledge and consent? 1. Accept a rebate from the laundry machine company. 2. Collect each tenant's rent on the first of the month. 3. Maintain the building's landscaping. 4. Return security deposits to tenants after they move out.

1. Accept a rebate from the laundry machine company.

In which of the following settings is a prize offering permitted in Maryland? 1. Buyer education seminar 2. Closing 3. Listing presentation 4. Open house

1. Buyer education seminar

HUD received a complaint from Jameel, an Annapolis resident who claimed that his landlord evicted him when she found out he was gay. What will HUD likely do with this complaint? 1. Forward it to the Maryland Commission on Civil Rights. 2. Forward it to the Maryland Real Estate Commission. 3. Investigate it and report the findings to Jameel within 180 days. 4. Investigate it and report the findings to the Maryland Real Estate Commission within 180 days.

1. Forward it to the Maryland Commission on Civil Rights. MCCR receives and investigates housing discrimination complaints. HUD also forwards complaints it receives that pertain to Maryland. Sexual orientation isn't a federally protected class, but it is a protected class in Maryland.

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? 1. He could be disciplined by the commission and receive a possible lawsuit for intentional interference. 2. None; since the client cancelled the listing, Rumi is not at fault. 3. Rumi could be subject to disciplinary action from local board of REALTORS®. 4. Rumi could receive disciplinary action from the commission, including jail time.

1. 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.

In Maryland, transaction records may be stored electronically as long as ______. 1. Licensees are able to provide a paper copy upon commission request 2. The electronic storage system has unlimited capacity 3. The storage system used is on the commission's approved systems list 4. They're stored for at least six years

1. Licensees are able to provide a paper copy upon commission request

Which of these licensees has NOT shown cause for immediate suspension of his or her license? 1. Luis has been working for two brokers at the same time. 2. Patrick has misplaced three clients' earnest money checks in the past month. 3. Phoebe is convicted of felony fraud involving her brokerage's finances. 4. When the commission performed a records audit, Annalise wasn't able to account for trust funds she deposited two years ago.

1. Luis has been working for two brokers at the same time. The commission may, pending a hearing, immediately suspend a license if the licensee fails to properly account for trust funds or provide transaction documents upon commission request or is convicted of a felony.

Carmelita is a licensee selling a condo. She has the owner's permission to place a for sale sign in front of the unit. As she pounds the sign into the ground, a condo board representative approaches her and informs her that condo regulations forbid signage. Can Carmelita come back later and place the sign anyway? 1. No, she must conform to condo regulations. 2. Yes, if she comes at night and no one sees her. 3. Yes, she has the owner's consent. 4. Yes, the condo board can't tell her what to do!

1. No, she must conform to condo regulations. Carmelita can't place the sign. For sale signs must be placed with the consent of the owner and must comply with any regulations or restrictions by the homeowner, condominium, or cooperative associations.

What is the goal of the Maryland Real Estate Commission in declaring an area a real estate conservation area? 1. To curb threats to the racial stability of an area. 2. To preserve the historical architecture in an area. 3. To prevent further destruction of an environmentally compromised area. 4. To protect the wildlife in a residential community that borders an environmentally protected area.

1. To curb threats to the racial stability of an area.

For sale signs on ground rent properties that show the price of the property must also state which of the following? 1. Annual ground rent 2. Annual ground rent plus the full cost of capitalization 3. Price for which the land could be purchased 4. The market value of the property

2. Annual ground rent plus the full cost of capitalization

In Maryland, the Protection of Homeowners in Foreclosure Act describes the role of and sets guidelines for the actions of ______. 1. Fannie Mae 2. Foreclosure consultants 3. Lenders 4. Short sale agents

2. Foreclosure consultants

Maryland sponsoring broker Sandrine has five salespersons working under her supervision. Whose license must be displayed in the brokerage office? 1. None are required to be displayed. 2. Only Sandrine's license is required to be displayed; the salesperson licenses must be retained. 3. Only the licenses of the five salespersons must be displayed. 4. Sandrine's license must be displayed, as well as the licenses of the five salespersons.

2. Only Sandrine's license is required to be displayed; the salesperson licenses must be retained. Only sponsoring brokers must display their licenses. Associate brokers may supervise licensees, but not sponsor them. Licenses may either be displayed or stored in such a manner that they may be immediately presented to the commission upon request.

Rosalie's buyer client, Emmett, lost $10,000 in earnest money when his contract fell through due to a tiny change in Maryland law that went into effect the previous month. When she received a notice of Emmett's complaint to MREC, Rosalie argued that she'd renewed her license the previous year, so hadn't taken her legislative update CE for her next renewal yet and wasn't responsible for the legal oversight. Which, if any, of the Maryland Code of Ethics guidelines has Rosalie potentially violated? 1. She failed to complete her CE in a timely manner. 2. She failed to keep informed of new real estate law or changes to real estate requirements. 3. She failed to reimburse Emmett's earnest money. 4. She hasn't violated any ethical guidelines.

2. She failed to keep informed of new real estate law or changes to real estate requirements. The Maryland Code of Ethics mandates that in order to best serve their clients, licensees must keep themselves informed of real estate law, including proposed changes to law, government orders, or other information that will affect their clients' interests.

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? 1. "I'm always flexible. If we need to, we'll add an amendment to the agreement granting you permission to cancel early." 2. "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." 3. "There's a provision right here that gives either of us permission to cancel the agreement early." 4. "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."

3. "There's a provision right here that gives either of us permission to cancel the agreement early."

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? 1. 10 days from the home inspection date 2. April 15 3. April 20 4. May 10

3. April 20

Dennis thinks he was discriminated against by a potential landlord in Maryland and wants to file a complaint. Which entity can he contact to do this? 1. Fair Housing Administrator's Office 2. Maryland Association of REALTORS® 3. Maryland Commission on Civil Rights 4. Office for Discrimination Complaints

3. Maryland Commission on Civil Rights

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? 1. Advise your seller to accept it as a back-up offer. 2. Hold onto it in case the current contract falls through. 3. Present it to his client. 4. Reply to the buyer's agent that the property is under contract, so it's too late to make an offer.

3. Present it to his client.

Which of these licensees is correctly following MREC guidelines for hosting an open house? 1. Fabrizio displays his real estate license and wears a name tag. 2. Luke makes sure that all attendees sign an Understanding Whom Real Estate Agents Represent form. 3. Shawna displays the MREC notice informing consumers that she represents the seller. 4. Shelby makes sure to place a warning next to the plate of cookies she's put out, informing attendees that they contain peanuts.

3. Shawna displays the MREC notice informing consumers that she represents the seller. Licensees hosting an open house must display an MREC-mandated notice advising consumers that the licensee represents the seller and warning visitors not to discuss with the agent anything they wouldn't want the seller to know.

Beverly was so proud of the comparative market analysis (CMA) she'd put together for her seller client, Jonathon. The first page was simple: a large photo of his property with the address printed underneath. The rest of the CMA was spotless: She'd found four excellent comparable properties, included plenty of information about them, and was confident that Jonathon would love the suggested list price she arrived at. What did Beverly do wrong? 1. She didn't alert the comparable properties' listing agents that she was using their listings as comps. 2. She didn't include at least six comparables in her analysis. 3. She didn't include a written statement on the CMA's first page that clarified that it wasn't an appraisal. She didn't leave it up to Jonathon to determine the suggested list price. 4. Licensees must include a specific "Competitive Market Analysis Disclosure" statement conspicuously and on the CMA's first page. The exact wording of the statement can be found in the "Relations to Clients" section of the Maryland Code of Ethics.

3. She didn't include a written statement on the CMA's first page that clarified that it wasn't an appraisal.

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? 1. The chamber of commerce 2. The Guaranty Fund 3. The Maryland Real Estate Commission 4. The state attorney general

3. The Maryland Real Estate Commission

Business is booming for The Jill Luck Team—the most lucrative team within Maryland Pro Realty. Jill and her team members are doing lots of in-house, in-team deals. What disclosure do they need to be sure to make to these dual agency clients? 1. Because the deals are occurring within their team, they cannot offer complete confidentiality. 2. Because the transaction is staying within their team, they may reduce the commission by one half of a percent. 3. They are members of the same team, and the team may have a financial interest in the transaction's outcome. 4. They will be paid by both the seller and their brokerage.

3. They are members of the same team, and the team may have a financial interest in the transaction's outcome.

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? 1. 1.5 hours of ethics and 1.5 more hours of electives 2. 1.5 hours of ethics and three more hours of electives 3. Three hours of ethics and 1.5 more hours of electives 4. Three hours of ethics and three more hours of electives

3. 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.

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? 1. No. Licensees aren't permitted to pay (or rebate) compensation to unlicensed individuals. 2. No. The commission rate written into the listing agreement is binding. 3. Yes, as long as he documents the commission reduction in writing and discloses it to all parties. 4. Yes, but only if the listing agreement is also updated to reflect the new commission rate.

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

Which of the following is NOT a relief option that the nine-member Maryland Commission on Civil Rights may order if it determines that housing discrimination has occurred? 1. A civil penalty awarded to the state 2. An injunction to prevent further discriminatory behavior 3. Criminal action against the party who discriminated 4. Training for the party who discriminated

3.Criminal action against the party who discriminated

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? 1. "As long as you reimburse the fund for the full claim amount plus 12% interest within 30 days, you can keep practicing real estate." 2. "Luckily, your E&O insurance covers this issue, so you can get back to business as usual. I hope you've learned your lesson!" 3. "We'll both have a lot of time on our hands until you reimburse the fund, since both of our licenses are now suspended." 4. "Well, since this means your license is suspended, we'll see you back at the office when you reimburse the fund."

4. "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.

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? 1. $100,000 2. $25,000 3. $50,000 4. $75,000

4. $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.

Lapis is training her new unlicensed assistant, Heidi, and they've come to the subject of recordkeeping. Which of these points is true? 1. All real estate documents must be forwarded to the commission for safekeeping once a transaction is completed. 2. Heidi is permitted to represent clients, as long as she does so under Lapis's direct supervision and gets the clients' written consent. 3. Heidi may not handle real estate documents unless she gets her license. 4. Lapis must keep her transaction records on file for at least five years.

4. Lapis must keep her transaction records on file for at least five years.

What type of ownership interest needs to be disclosed in writing to all parties? 1. Only property held directly by the licensee 2. Only property held directly or indirectly by the licensee 3. Only property held directly or indirectly by the licensee or by the licensee's immediate family member 4. Property held directly or indirectly by the licensee, the licensee's immediate family member, the licensee's firm, or a member of the licensee's firm

4. Property held directly or indirectly by the licensee, the licensee's immediate family member, the licensee's firm, or a member of the licensee's firm

Which of these documents does NOT establish an agency relationship between a client and a licensee? 1. Brokerage agreement 2. Buyer representation agreement 3. Listing agreement 4. Purchase agreement

4. Purchase agreement

Sheila filed a discrimination complaint against her landlord. She's worried that when he finds out about her complaint, he's going to evict her. However, he knows not to evict her just because she filed a complaint. Why? 1. He must wait to evict her until after the complaint has been investigated. 2. Landlords must wait 180 days to evict parties who file a discrimination complaint. 3. Parties who file a discrimination complaint may not be evicted for any reason. 4. Retaliation against parties who file a discrimination complaint is illegal.

4. Retaliation against parties who file a discrimination complaint is illegal.

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? 1. Estrella must include her name, her picture, and either her business's phone number or address. 2. She doesn't need to worry about complying, since business cards aren't considered advertising in Maryland. 3. She needs to include her name, her business's phone number, and her license number. 4. The cards must include her name as it appears on her license.

4. The cards must include her name as it appears on her license.

Yeo-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? 1. Licenses are issued at least 30 days after submission of documentation, not within a few days. 2. Seo-yun should've gone to the commission office to pick up her new license. 3. Seo-yun should've submitted her documentation to her broker, not the commission. 4. The license should've also come with a pocket card.

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

A prospective buyer is curious why a previous owner is selling such a perfect home. The Maryland licensee knows that the previous owner recently died due to complications from AIDS. How should the licensee respond to the prospective buyer's inquiry? 1.The licensee can disclose that the owner had AIDS, but can't reveal whether the owner died from the disease. 2. The licensee can obtain permission from the seller to reveal the previous owner's AIDS diagnosis. 3. The licensee can share that the previous owner died from AIDS. 4. The licensee can't disclose that a previous owner had HIV or AIDS.

4. The licensee can't disclose that a previous owner had HIV or AIDS.

Licensed property managers in Maryland must maintain related records for at least five years, beginning on the date ______. 1. The last tenant moves out 2.The property management agreement commences 3. The property management agreement terminates 4. The property management agreement was signed.

4. The property management agreement was signed.

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? 1. A copy of the signed listing agreement 2. A copy of the signed Understanding Whom Real Estate Agents Represent form 3. Her real estate license 4. MREC's open house notice

4.MREC's open house notice

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? 1. As an agent for the buyer 2. As a non-agent for the seller 3. As a sub-agent for the buyer 4. As a sub-agent for the seller

As a sub-agent for the seller

How does a Maryland broker's license renewal differ from a salesperson's license renewal? 1. Brokers have to renew every three years and salespersons have to renew every two years. 2. Brokers must take the 15 hours of CE salespersons take, plus an additional three hours of broker supervision coursework. 3. Instead of having 4.5 hours of electives, brokers must take three hours of broker supervision coursework and only 1.5 hours of electives. 4. There is no difference between license renewals for brokers and salespersons.

Brokers have to renew every three years and salespersons have to renew every two years.

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? 1. By predicting the seller's credit rating outcome, Ben crossed the line into giving advice that requires additional licensure. 2. New salespersons aren't permitted to take on listings until after the 90-day probationary period. 3. Salespersons must get their broker's permission before accepting a short sale listing or offering on a short sale property. 4. 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. The Protection of Homeowners in Foreclosure Act prohibits real estate licensees (unless they're further licensed) from predicting the credit effects of a short sale/foreclosure, the benefits of a strategic default, or how to avoid a deficiency judgment.

Which of these parties could NOT file a claim with the Guaranty Fund? 1. 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 2. Raul, who lost $68,000 in a real estate pyramid scheme initiated by a long-time broker 3. Regina, a buyer who accrued $15,000 in repair costs because her agent didn't tell her that the roof leaked 4. 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 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.

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? 1. Either the buyer's or seller's broker 2. The buyer's broker only 3. The seller only 4. The seller's broker only

Either the buyer's or seller's broker It is the buyer's or seller's broker's responsibility. Failure to do so could result in disciplinary action for the offending licensee. It could also result in the buyer voiding the contract.

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? 1. He's selling a home on behalf of another salesperson in his brokerage. 2. He's selling his aunt's home. 3. He's selling his brother's home. 4. He's selling his own home.

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.

Broker Pat was so busy enjoying her semi-retired life that she failed to supervise new salesperson Dina adequately and Dina engaged in unintentional discrimination. What might happen to Pat's license? 1. If Dina's license is revoked, Pat's is automatically suspended. 2. If Dina's license is suspended, Pat's is automatically suspended as well. 3. It could be suspended or revoked. 4. Nothing. Only Dina's license is in danger.

It could be suspended or revoked. Dina will likely be disciplined for the unintentional discrimination she engaged in, and Pat's license is also in danger for failing to adequately supervise an affiliated licensee. Both licensees can potentially be fined as much as $5,000 per violation.

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 July 4 May 16 May 29

July 4 The five-year retention period begins on the date the transaction closes, or, if the transaction didn't close, the last activity date on the transaction (e.g., listing agreement expiration date).

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? 1. Complaints must be filed within two years. 2. Condominiums and co-ops are outside MREC's jurisdiction; Shanice should bring her complaint directly to her condo board. 3. MREC must give 10 days' notice before a hearing. 4. Nick's broker is only contacted if the claim moves forward to a hearing.

MREC must give 10 days' notice before a hearing.

Betsy and Josh want to file a complaint against a real estate licensee whom they feel misrepresented them in the sale of their Maryland home. With what organization can they file a complaint? 1. Hearing panel 2. Local police department 3. Maryland Real Estate Commission 4. U.S. Board of Real Estate Licensees

Maryland Real Estate Commission

Dante lives in Maryland and purchased property in Pennsylvania. His real estate agent lied to him about a material defect, and it ended up costing Dante $52,000. Can Dante file a claim against the Guaranty Fund? 1. No, his claim is over the $50,000 threshold. 2. No, the property purchased was in Pennsylvania. 3. Yes, but he can only recover $50,000 of his loss. 4. Yes, but not before exhausting other methods to collect the money.

No, the property purchased was in Pennsylvania.

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? 1. No. A counter-offer is binding until it's rejected by the other party (in this case, the seller). 2. No. A counter-offer is considered accepted when the offer is signed and the offeror (in this case, the buyer) is notified. 3. Yes. The buyer can back out of the counter-offer at any point before it's signed. 4. Yes. The offeror of a counter-offer has an exclusive right to rescind the offer at any time.

No. A counter-offer is considered accepted when the offer is signed and the offeror (in this case, the buyer) is notified. Offers and counter-offers may be withdrawn until accepted. Acceptance is effective upon notification to the offeror.

What information about the Guaranty Fund must be included in every Maryland sales contract? 1. Notice that the Guaranty Fund's minimum balance is $250,000 2. Notice to the buyer of the Guaranty Fund's protection up to $50,000 3. Notice to the buyer that licensees are exempt from having Guaranty Fund claims placed against them 4. The website and office address where consumers may go to file a written Guaranty Fund claim

Notice to the buyer of the Guaranty Fund's protection up to $50,000 Sales contracts must include a written notice to the buyer of the Guaranty Fund's protection up to $50,000.

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? 1. All of them 2. Only offer D, since it's a counter-offer 3. Only offers A, B, and C, since they supersede a counter-offer 4. Only offers A, C, and D, since they're in writing

Only offers A, C, and D, since they're in writing

An administrative law judge presided over Sabine's misconduct hearing. Sabine presented several documents indicating she was an excellent licensee, including notarized statements from three of her clients. However, the ALJ found evidence of misconduct and recommended that Sabine be required to take an additional three hours of CE in ethics. What happens next? 1. Sabine may request that her broker appear before the judge to corroborate the evidence she presented. 2. Sabine must take the ethics coursework and submit proof of completion to MREC. 3. Since Sabine was found guilty of a violation, her case is automatically appealed. 4. The MREC hearing panel decides whether or not to accept the ALJ's recommendation.

The MREC hearing panel decides whether or not to accept the ALJ's recommendation.

Which of the following is NOT a required inclusion in a Maryland buyer representation agreement? 1. A definite termination date 2. Compensation details 3. Each party's duties and responsibilities to the other 4. The address of the property the buyer is purchasing

The address of the property the buyer is purchasing. Buyer agency agreements should include a description of the type of property the buyer is hoping to purchase, but not the address since the property probably won't have been identified yet.

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? 1. The amount of earnest money the seller requires 2. The commission amount 3. The most recent property tax amount 4. The seller's preferred closing date

The commission amount The listing or buyer representation agreement must state the commission amount, in either a specific amount or a percentage. Net listings are prohibited.

Silvio's buyer client Donna is new to the area and asked him if he could recommend any contractors to install new windows and doors in her new home. Silvio checked the DLLR website to make sure the contractor was still licensed, then gave Donna the contractor's contact information. What else does he need to give Donna? 1. The contractor's license number 2. The date Silvio verified the contractor's licensure and the link to the DLLR website where Donna can perform a license search 3. The name and contact information of at least one more contractor 4. The number of years that the contractor's been licensed in Maryland

The date Silvio verified the contractor's licensure and the link to the DLLR website where Donna can perform a license search. When providing a contractor name to a client, licensees are also required to provide the date they verified the contractor's licensure and the link to the Maryland Home Improvement License Search on the DLLR website.

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? 1. No. MREC may not revoke a license before the licensee has a chance to present her case at a hearing. 2. No. MREC would have to prove that she has violated Maryland license law in order to revoke her Maryland license. 3. Yes, but Phoebe may request a hearing to appeal the revocation. 4. Yes. Revocation in another state automatically means her Maryland license must be revoked.

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.

Selma made her initial offer on Monday. The seller countered it on Tuesday. On Wednesday, Selma sent the seller another counter-offer. On Thursday, the seller backed down and said he was willing to accept Selma's initial offer from Monday. Can this happen? 1. No. Counter-offers negate any previous offers, so at least one term must be different. 2. No. Once the initial offer is rejected, it's dead and new terms need to be negotiated. 3. Yes, as long as someone still has a copy of the initial offer. 4. Yes, but a new counter-offer must be drawn up to include the original offer's terms.

Yes, but a new counter-offer must be drawn up to include the original offer's terms. 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.

In order 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? 10 Five Seven Zero

Zero Consumer members of the MREC board are not licensees.