MD REAL ESTATE CE SHOP RESULTS
EXAM QUESTIONS WITH VERIFIED
ANSWERS
Which of the following is a residential dwelling with shared walls where the owner also
typically owns the land on which the home sits? - Answer-Townhome
In a life estate, all of the following apply during the term except ______. - Answer-
Transferability
Joe signed a listing agreement with Marisa. A week later, Marisa's co-worker, Tina,
showed Joe a property that he's interested in buying once his home sells. A week after
that, Ross submitted an offer on Joe's property on behalf of his buyer client. Who is
Joe's agent? - Answer-Marisa
If a licensee is convicted of a controlled substance offense, what can the Real Estate
Commission do? - Answer-Impose additional sanctions
_________ occurs when the parties meet all terms of the contract. - Answer-
Performance of contract
Land, plus all things permanently attached to it naturally or artificially, is ______. -
Answer-Real estate
As a security precaution, when posting on social media, what should you do? - Answer-
Assume that the information will be passed along.
The secondary market is comprised of _________________________. - Answer-
FNMA, GNMA, FHLMC, and lending institutions that buy loans from other lenders
In which of the following situations would an agent be representing a customer in a real
estate purchase? - Answer-Never
Manny has a client who wants to purchase a commercial building. Manny doesn't have
any experience negotiating commercial purchases. Which action should Manny take to
demonstrate his good faith and most ethical behavior toward his client? - Answer-Tell
the client about his inexperience, but say that he'd like to continue the relationship and
will consult with a professional commercial broker throughout the transaction.
If a licensee is overdue in the payment of child support, what can the Maryland Real
Estate Commission do? - Answer-Suspend or deny the real estate license renewal
, What type of tenancy can be automatically created if a tenant under a lease stays
beyond the lease's terms, and the landlord continues to accept rent from that tenant? -
Answer-Month-to-month tenancy
What's a subordination agreement? - Answer-It's an agreement that a previous lender
signed allowing a later lender to take over the primary, or first, loan position.
Marnie decided the listing she was representing would be perfect for her family. She
had her brother buy it, and after closing, he sold it to her. What is this an example of? -
Answer-Illegal self-dealing
What, when added to a sales contract, changes the original terms of the contract? -
Answer-Amendment
Kathleen, who's selling her home to Omar, promises in writing to have a licensed
professional repair the home's leaky roof. After closing, Omar discovers that the roof
was poorly patched by the homeowner and leaks whenever it rains heavily. Under the
statute of limitations for a simple contract, if Omar wishes to sue Kathleen, he must do
so within ________ of the contract breach. - Answer-3 years
What's used to calculate the housing debt-to-income ratio and total debt-to-income
ratio? - Answer-Gross income
Which of the following statements about the lead-based paint inspection in Maryland is
true? - Answer-The buyer can waive their right to an inspection.
To effect a transfer of title by deed, _________________ must occur. - Answer-Delivery
and acceptance
Niko has decided to move somewhere else when his lease ends on April 30. This would
be considered termination through ______. - Answer-Expiration
If you're in a caveat emptor state, which statement about property condition disclosures
is true? - Answer-The seller isn't obligated to proactively disclose property defects.
First-time homebuyers can access up to $________ of their Roth IRA accounts,
penalty-free, under certain conditions. - Answer-$10,000
What's income received before any operating expenses are deducted? - Answer-Gross
income
Maryland real estate licensees should be aware that, in addition to the federally
protected classes, the state's fair housing laws also prohibit discrimination based on the
protected classes of ____________. - Answer-Marital status, sexual orientation, gender
identity, and source of income
EXAM QUESTIONS WITH VERIFIED
ANSWERS
Which of the following is a residential dwelling with shared walls where the owner also
typically owns the land on which the home sits? - Answer-Townhome
In a life estate, all of the following apply during the term except ______. - Answer-
Transferability
Joe signed a listing agreement with Marisa. A week later, Marisa's co-worker, Tina,
showed Joe a property that he's interested in buying once his home sells. A week after
that, Ross submitted an offer on Joe's property on behalf of his buyer client. Who is
Joe's agent? - Answer-Marisa
If a licensee is convicted of a controlled substance offense, what can the Real Estate
Commission do? - Answer-Impose additional sanctions
_________ occurs when the parties meet all terms of the contract. - Answer-
Performance of contract
Land, plus all things permanently attached to it naturally or artificially, is ______. -
Answer-Real estate
As a security precaution, when posting on social media, what should you do? - Answer-
Assume that the information will be passed along.
The secondary market is comprised of _________________________. - Answer-
FNMA, GNMA, FHLMC, and lending institutions that buy loans from other lenders
In which of the following situations would an agent be representing a customer in a real
estate purchase? - Answer-Never
Manny has a client who wants to purchase a commercial building. Manny doesn't have
any experience negotiating commercial purchases. Which action should Manny take to
demonstrate his good faith and most ethical behavior toward his client? - Answer-Tell
the client about his inexperience, but say that he'd like to continue the relationship and
will consult with a professional commercial broker throughout the transaction.
If a licensee is overdue in the payment of child support, what can the Maryland Real
Estate Commission do? - Answer-Suspend or deny the real estate license renewal
, What type of tenancy can be automatically created if a tenant under a lease stays
beyond the lease's terms, and the landlord continues to accept rent from that tenant? -
Answer-Month-to-month tenancy
What's a subordination agreement? - Answer-It's an agreement that a previous lender
signed allowing a later lender to take over the primary, or first, loan position.
Marnie decided the listing she was representing would be perfect for her family. She
had her brother buy it, and after closing, he sold it to her. What is this an example of? -
Answer-Illegal self-dealing
What, when added to a sales contract, changes the original terms of the contract? -
Answer-Amendment
Kathleen, who's selling her home to Omar, promises in writing to have a licensed
professional repair the home's leaky roof. After closing, Omar discovers that the roof
was poorly patched by the homeowner and leaks whenever it rains heavily. Under the
statute of limitations for a simple contract, if Omar wishes to sue Kathleen, he must do
so within ________ of the contract breach. - Answer-3 years
What's used to calculate the housing debt-to-income ratio and total debt-to-income
ratio? - Answer-Gross income
Which of the following statements about the lead-based paint inspection in Maryland is
true? - Answer-The buyer can waive their right to an inspection.
To effect a transfer of title by deed, _________________ must occur. - Answer-Delivery
and acceptance
Niko has decided to move somewhere else when his lease ends on April 30. This would
be considered termination through ______. - Answer-Expiration
If you're in a caveat emptor state, which statement about property condition disclosures
is true? - Answer-The seller isn't obligated to proactively disclose property defects.
First-time homebuyers can access up to $________ of their Roth IRA accounts,
penalty-free, under certain conditions. - Answer-$10,000
What's income received before any operating expenses are deducted? - Answer-Gross
income
Maryland real estate licensees should be aware that, in addition to the federally
protected classes, the state's fair housing laws also prohibit discrimination based on the
protected classes of ____________. - Answer-Marital status, sexual orientation, gender
identity, and source of income
