MARYLAND STATE INSPECTION
TECHNICAL REVIEW SHEET TESTED
QUESTIONS AND ACCURATE ANSWERS
ALREADY PASSED
⩥ Brokerage Services:
Answer: For consideration:
- *Selling, buying, exchanging, or leasing* any real estate or collecting
rent
- Assisting to *locate/obtain* for purchase/lease any residential real
estate
- Serving as a consultant
Engage regularly in a business of...
- *Dealing/lease/option* in real estate
- *Promoting* the sale of real estate through a listing in a publication
- *Subdivides* land located in any state into lots and then selling those
lots
⩥ Transfer of Affiliation
Answer: - *Apply to commission* for transfer from one broker to
another, after obtaining from the new broker a commitment
,- Need a *statement confirming termination* from former broker or
themselves.
Advisable but not required by law the former broker be informed of the
details of the transfer.
⩥ Continuing education sales associate
Answer: 15 clock hours, a clock hour is 50 minutes of actual instruction
on a 60 minute course.
Must renew license every 2 years from date you activate your license,
required CEU's:
- 3 Agency
- 3 Ethics, Flipping, Predatory Lending
- 3 Legislative
- 1.5 Fair Housing
- 4.5 Your choice
Total 15 hours
⩥ Commission issues three levels of license for individuals and...
Answer: Broker, associate broker and salesperson
,it issues certificate for branch manager and registers time-share
developers.
⩥ Commission has subtypes of each level
Answer: Resident, non-resident, reciprocal or temporary, for
commercial,
⩥ Associate Broker and sales person license include from subtypes
Answer: Resident, non-resident and reciprocal
⩥ Maryland has reciprocal license with
Answer: Pennsylvania and Oklahoma
⩥ General agents
Answer: Are sales persons and associate brokers
⩥ Special Agents
Answer: Brokers are special agents to their clients
⩥ Persons not subject to the Brokers act when performing acts of RE
Brokerage title 17
Answer: 17102
- Persons acting under a *judgement or court order*
, - *Public officers* performing duties of their office
- *Landlords* or owners of any real estate, unless their primary business
is providing real estate brokerage services
- Persons engaging in a single transaction selling or leasing real estate,
or by *power of attorney *for the owner
- Auctioneers
- Persons acting as receivers, trustees, personal representatives, or
guardians
⩥ Persons who must conform to the brokers act but are not required to
hold brokerage license
Answer: - *Financial institutions* for foreclosure
- *Lawyers* who do not regularly engage in the real estate business
- Home builders
- Agents of a licensed real estate broker property manager
- Persons who negotiate the sale, lease or transfer of business when the
sale does not include any interest in real property other than the lease of
the property
- Owners who subdivide and sell not more than six lots of their own
unimproved property in one calendar year. If they or their family have
owned the property for more than 10 years there is no limit.
⩥ Maryland Realestate commission consists of
Answer: 9 members,
TECHNICAL REVIEW SHEET TESTED
QUESTIONS AND ACCURATE ANSWERS
ALREADY PASSED
⩥ Brokerage Services:
Answer: For consideration:
- *Selling, buying, exchanging, or leasing* any real estate or collecting
rent
- Assisting to *locate/obtain* for purchase/lease any residential real
estate
- Serving as a consultant
Engage regularly in a business of...
- *Dealing/lease/option* in real estate
- *Promoting* the sale of real estate through a listing in a publication
- *Subdivides* land located in any state into lots and then selling those
lots
⩥ Transfer of Affiliation
Answer: - *Apply to commission* for transfer from one broker to
another, after obtaining from the new broker a commitment
,- Need a *statement confirming termination* from former broker or
themselves.
Advisable but not required by law the former broker be informed of the
details of the transfer.
⩥ Continuing education sales associate
Answer: 15 clock hours, a clock hour is 50 minutes of actual instruction
on a 60 minute course.
Must renew license every 2 years from date you activate your license,
required CEU's:
- 3 Agency
- 3 Ethics, Flipping, Predatory Lending
- 3 Legislative
- 1.5 Fair Housing
- 4.5 Your choice
Total 15 hours
⩥ Commission issues three levels of license for individuals and...
Answer: Broker, associate broker and salesperson
,it issues certificate for branch manager and registers time-share
developers.
⩥ Commission has subtypes of each level
Answer: Resident, non-resident, reciprocal or temporary, for
commercial,
⩥ Associate Broker and sales person license include from subtypes
Answer: Resident, non-resident and reciprocal
⩥ Maryland has reciprocal license with
Answer: Pennsylvania and Oklahoma
⩥ General agents
Answer: Are sales persons and associate brokers
⩥ Special Agents
Answer: Brokers are special agents to their clients
⩥ Persons not subject to the Brokers act when performing acts of RE
Brokerage title 17
Answer: 17102
- Persons acting under a *judgement or court order*
, - *Public officers* performing duties of their office
- *Landlords* or owners of any real estate, unless their primary business
is providing real estate brokerage services
- Persons engaging in a single transaction selling or leasing real estate,
or by *power of attorney *for the owner
- Auctioneers
- Persons acting as receivers, trustees, personal representatives, or
guardians
⩥ Persons who must conform to the brokers act but are not required to
hold brokerage license
Answer: - *Financial institutions* for foreclosure
- *Lawyers* who do not regularly engage in the real estate business
- Home builders
- Agents of a licensed real estate broker property manager
- Persons who negotiate the sale, lease or transfer of business when the
sale does not include any interest in real property other than the lease of
the property
- Owners who subdivide and sell not more than six lots of their own
unimproved property in one calendar year. If they or their family have
owned the property for more than 10 years there is no limit.
⩥ Maryland Realestate commission consists of
Answer: 9 members,
