MD Real Estate Exam Practice Question and answers already passed 2026 Exam Question with 100 Correct Answers 2026
MD Real Estate Exam Practice 2026 Exam Question with 2026 | A+ Graded Solutions Inactive Status - answer - associate real estate brokers and real estate salesperons that are no longer affiliated with licensed real estate brokers and their license certificates and pocket cards are returned to the Commission. An inactive license - answer - expires 3 years from the date it was placed on inactive status Commission pays any penalty collected to - answer - General Fund of the State Instead of, or in addition to, suspension or revocation, for any violation of the Brokers Act (Title 17), the Commission may impose a penalty for a first violation - answer - not exceeding $5,000 Instead of, or in addition to, suspension or revocation, for any violation of the Brokers Act (Title 17), the Commission may impose a penalty for a second violation - answer - not exceeding $15,000 Instead of, or in addition to, suspension or revocation, for any violation of the Brokers Act (Title 17), the Commission may impose a penalty for a third violation - answer - not exceeding $25,000 Real Estate Hearing Board/Panel - answer - Established by the Commission- consist of 3 Commission Members including at least 1 professional member and 1 consumer member License Renewal - answer - Extends a license for another 2-year term Reissuance / Reactivation - answer - Licensee returns to active status and affiliates with a broker Reinstatement - answer - Revives license that expired for lack of renewal or restores license after suspension or revocation Tenaancies by the entireties - answer - Tenancy by the entireties is a form of ownership that husbands and wives can choose or create by deciding to do so and declaring it as such in contracts and deeds. Husband and wife Tenancy in common - answer - put in motion by state law. Community Property is a law of ownership that exists in Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and some other states. Tenancy by the Entireties - answer - Tenancy by the Entireties is an estate that is recognized in some states between husband and wife, who have equal right of possession and enjoyment during their joint lives and with the right of survivorship--that is when one dies, the property goes to the surviving tenant. Husband and wife Escheat - answer - If someone dies and there is no one to inherit or no will the property goes to the state Appointed by the Secretary of Labor, Licensing, and Regulation - answer - How is the executive director of the commission chosen 20 years of continuous use - answer - What meets or exceeds the requirement for prescriptive easement in Maryland Lessee - answer - Is responsible for maintaining a habitable property and for complying with local housing and building codes Guaranty Fund - answer - Must be maintained at $250,000 Broker's and Salesperson's license renewal fee - answer - Fee paid biennially Maryland residential listing agreement - answer - It must be in writing Maryland have homestead laws? - answer - No Salesperson license fee costs? - answer - $110 What is not necessary for a valid contract? - answer - Due date Time Share License or registration requirement? - answer - Register with the Maryland Real Estate Commission Dual agency is permitted only in brokerage firms consisting of three or more licensees - answer - True A salesperson can use their own name and phone number in advertising a listed property when - answer - The name of their firm is clearly and meaningfully shown as well as the firms phone number Sellers could complete the residential disclosure and disclaimer statement when? - answer - The property is being listed Parts of a deed - answer - Habendum, premises, acknowledgement Maryland a community property state? - answer - No Ground rent signs must - answer - If the sign show the price, it must also show ground rent and cost of cap. In lettering no smaller tha
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