MARYLAND STATEREAL EXAM ACTUAL QUESTIONS AND ANSWERS[3 LATEST VERSIONS] UPDATED 2024

MARYLAND STATEREAL EXAM ACTUAL QUESTIONS AND ANSWERS[3 LATEST VERSIONS] UPDATED 2024 Who appoints members to the Maryland real estate commission? A. The State Senate B. The house of Delegates C. The executive director of the Commission D. The governor of Maryland Answer: The governor of Maryland Which of the following is true concerning the Maryland Real Estate Commission? A. Its members are representative brokers from real estate boards or associations through Maryland B. It has 5 members C. It has 4 professional and 5 consumer members D. 3 out of its members are not real estate licensees and 5 are Answer: 3 out of its members are not real estate licensees and 5 are What must be included in advertising by a broker? A. the name of the broker's Realtor board or association or Realtist organization B. The legal name of the licensed real estate broker C. the designated name of that broker as registered with the Commission D. the name of the licensee who listed the property Answer: the designated name of that broker as registered with the commission Which of the following is NOT required in advertising for a team? A. The advertisement must follow branch office and company wide requirements B. The advertisement must contain the name of at least one licensee on the team C. The advertisement must contain the name of the team leaser D. the advertisement must include the phone number of the office out of which the team works Answer: the advertisement must contain the name of the team leaser Whom may use a listing agreement form published by a multiple listing service? A. any licensee B. any broker or salesperson licensed by the Commission C. any members of any board or association of Realtors D. Any licensed member of the organization that operates that listing system Answer: any licensed member of the organization that operates that listing system brokers are not required to notify the commission when A. changes occur in the names of their firms B. a salesperson resigns C. changes occur in the commission sharing D. changes occur in the locations of any of their offices Answer: Changes occur in the commissions sharing what does the brokers act require be done with earnest money deposits when there are no instructions to the contrary from their owner and beneficial owner? A. they are to be placed in an interest-bearing account B. they may be withdrawn at any time prior to settlement, as long as a licensee's signature appears on the escrow check C. They may be commingled with the broker's funds D. they must be deposited in an insured and approved financial institution in MD Answer: they must be deposited in an insured and approved financial institution in Maryland Which statement pertaining to licenses held by Maryland real estate brokerage licensees is NOT correct? A. They are required for every person who sells real estate for consideration B. Their holders are regulated by authority of the Business Occupations and Professions Article of the Maryland Annotated Code C. They are not issued to corporations or associations. D. they are issued and administered by the Maryland Real estate commission Answer: They are required for every person who sells real estate for consideration Which of the following satisfies the requirement that a broker maintain an office? A. A post office box B. A mechanical answering machine C. A definite place of business D. A telephone answering service Answer: a definite place of business Relations with which of the following is NOT addressed in the Commission's Code of Ethics? A. Fellow Licensees B. Clients C. The real estate commission D. Members of the public Answer: The Real estate Commission In Maryland, whom is primarily responsible for the real estate brokerage services provided through a corporation? A. The licensed real estate broker or the firm B. the chairperson of the corporate board C. the majority shareholder of the corporation D. the president of the corporation Answer: The licensed real estate broker or the firm Broker's principle are called?