, MD REAL ESTATE EXAM PRACTICE
QUESTIONS AND ANSWERS 100%
CORRECT!
Which of these parties would be eligible to be one of MREC's consumer members?-
ANSWER Amelia, a retired community college professor who used to teach about
home improvement
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?-ANSWER $75,000
When ______ in Maryland, you must submit a statement of affiliation from the new
broker and a statement of affiliation termination from the former broker along with your
transfer application.-ANSWER Changing brokers
Because Lisa's agent didn't inform her that she needed to pull a permit to build a deck
off the back of her home, she spent $11,000 having it installed, $7,000 having it
removed when the homeowners association discovered she didn't pull a permit, and
another $5,000 in legal fees fighting her agent in court over it. How much money is she
entitled to seek from the Guaranty Fund?-ANSWER $18,000
What type of license would Sarah be eligible for if she is new to real estate and does not
yet have a supervising broker lined up?-ANSWER Inactive salesperson license
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?-ANSWER Hearing panels have three
members.
Ebony is a licensed real estate salesperson in Maryland. Which of the following does
she NOT need to submit to the commission as part of her license renewal?-ANSWER
A credit report
QUESTIONS AND ANSWERS 100%
CORRECT!
Which of these parties would be eligible to be one of MREC's consumer members?-
ANSWER Amelia, a retired community college professor who used to teach about
home improvement
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?-ANSWER $75,000
When ______ in Maryland, you must submit a statement of affiliation from the new
broker and a statement of affiliation termination from the former broker along with your
transfer application.-ANSWER Changing brokers
Because Lisa's agent didn't inform her that she needed to pull a permit to build a deck
off the back of her home, she spent $11,000 having it installed, $7,000 having it
removed when the homeowners association discovered she didn't pull a permit, and
another $5,000 in legal fees fighting her agent in court over it. How much money is she
entitled to seek from the Guaranty Fund?-ANSWER $18,000
What type of license would Sarah be eligible for if she is new to real estate and does not
yet have a supervising broker lined up?-ANSWER Inactive salesperson license
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?-ANSWER Hearing panels have three
members.
Ebony is a licensed real estate salesperson in Maryland. Which of the following does
she NOT need to submit to the commission as part of her license renewal?-ANSWER
A credit report
