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Maryland real estate Question and answers 100% correct 2024

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Institution MARYLAND HOME
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Maryland real estate Question and answers 100% correct 2024Maryland real estate Commission - correct answer 5 real estate (10 years experience) & 4 consumers - appointed by governor Executive director of commission - correct answer Appointed by secretary of commission - may not be a real estate licensee- must have board knowledge of real estate business practices Hearing before real estate commission - individual does not show up - correct answer The commission may still have hearing and make decision Examination of records from commission - correct answer Upon reasonable notice Exemptions to needed license - correct answer Bank, lawyer, home builder, or home owner 15 hours of coursework - correct answer 1.5hrs - fair housing for residential licensees 3hrs - law update 3hrs - MD code of ethics 3hrs - agency 3hrs - broker supervision Distribution of trust money - correct answer If owner of beneficial owner of trust money fails to complete RE transaction- the broker gets to decide and may distribute trust Money Before distributing trust money when the owner or beneficial has failed to complete the RE transaction. Broker must notify both parties that broker i tends on distributing Broker may provide RE service thru - correct answer Corp, LLC, or partnership Broker must submit notice of business entity to - correct answer Commission Open house - correct answer Must display disclaimer

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