Maryland Real Estate Study Questions with Verified Solutions

Maryland Real Estate Study Questions with Verified Solutions Licensee Commissioner Must be licensed for at least 10 YEARS Area Representative of the Real Estate Commission must have Lived in area for 5 YEARS Commission must provide a copy of the Code of Ethics to each licensee on the website every 2 YEARS Commission must provide a copy of Regulations to each licensee on the website every 2 YEARS Commission must submit an annual report to the secretary how often? ANNUALLY MD Real Estate Commission's Hearing Panel's Must Consist of 3 ELECTED MEMBERS with at least 1 licensee or 1 non-licensee MD Real Estate Commission Meetings are held how often? Once a Month Minimum Age to obtain a salesperson and brokers license is 18 YEARS OLD Must be active as a salesperson for at least how many years to obtain a brokers license? 3 YEARS Term of Brokers, Associate Brokers and Salespersons License before Expiration? 2 YEARS Renewal of license mailed to licensee is at least how long before expiration? 1 MONTH: 30 days Minimum amount of hours of Continuing Education Requirements are 15 hours Continuing Education Requirements of the 15 Hours include 1.5 Fair Housing 3 Legislative 3 Code of Ethics, Predatory Lending and Flipping 3 Principles of Agency and Disclosure 3 Broker Supervision 1.5 of FREE ELECTIVE Time Allowed to Reinstate License; which is in inactive status 3 YEARS of Date of Expiration Amount of Time Family Member has to Close out business of a deceased broker is 6 Months Hearing Notice to Person Being investigated is 10 DAYS prior to hearing Hearing Notice to Broker 10 DAYS prior to hearing Maximum time to Notify Commission of Change of office location 10 DAYS Time to notify commission of opening of escrow account 10 DAYS The commission must be notified of any openings