Ce shop Final Exam Questions and
Answers Graded A+
Blaire apparently hasn't learned her lesson. She paid a $5,000 penalty when MREC
found her guilty of misrepresentation, a $10,000 penalty when she was found
guilty of placing a for sale sign in someone's yard without permission, and now
she's committed three more violations by placing a series of discriminatory ads.
What's the maximum penalty MREC can levy for these new violations? - Correct
answer-75,000
Which of these parties WOULD need a real estate license in Maryland? - Correct
answer-Marsha, an attorney who is selling a client's home, as this is something she
typically does as part of her practice
New Maryland licensees pay a fee into the Guaranty Fund to help maintain it.
What is the amount of the fee? - Correct answer-$20
DeShawn has been licensed as a salesperson in Maryland for 18 months. Which of
the following statements is true about his upcoming license renewal? - Correct
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,answer-The commission will send DeShawn a renewal reminder at least 60 days
before his license's expiration date.
Who presides over a Maryland Real Estate Commission hearing? - Correct answer-
An administrative law judge
In order to qualify as one of the five real estate professional members of the
Maryland Real Estate Commission board, how many years of real estate
experience must you have? - Correct answer-10
Damon lives in Frederick but is affiliated with a broker in downtown Baltimore.
He'd like to affiliate with a broker closer to home but doesn't want to sever his
relationship with his current broker. What needs to happen in order for Damon to
be able to work for both brokerages? - Correct answer-Both brokers need to send a
letter to the commission stating their approval of the arrangement and that there is
no conflict of interest.
Tiara's Maryland salesperson's license is going to expire next week if she doesn't
complete all of the required continuing education hours. She's completed three
hours of agency, three hours of legislative updates, 1.5 hours of fair housing, and
three hours of electives. What other coursework does she need to complete in order
to renew her license? - Correct answer-Three hours of ethics (including
professionalism) and 1.5 more hours of electives
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
,In addition to your name, what must be included in any advertising? - Correct
answer-Designated name of your brokerage firm
Kent's seller client's home just went under contract on Tuesday. Just as he's
hanging the "under contract" sign in the yard, he gets an email alert from a
different buyer's agent with a new offer attached. What should Kent do with the
offer? - Correct answer-Present it to his client.
Ben and Leslie received their finalized purchase contract on April 10, just moments
after the sellers put their final signatures on it. Ben and Leslie decided that since
the home they're buying was built in 1920, they'd like to have it inspected for lead-
based paint. When is the latest that the couple can have the inspection performed if
they want to be able to back out of the contract? - Correct answer-April 20
Which of the following does NOT qualify as a ministerial act under Maryland law?
- Correct answer-Offering earnest money deposit advice
Which of the following is NOT a penalty that the Maryland Real Estate
Commission may impose upon a licensee who violated the Maryland Code of
Ethics? - Correct answer-Jail time
For sale signs on ground rent properties that show the price of the property must
also state which of the following? - Correct answer-Annual ground rent plus the
full cost of capitalization
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
, Shelby listed her seller client's condo on April 4. It went under contract May 16.
That contract fell through on May 29. The listing agreement expired on July 4,
with no other offers or contracts. On what date does the five-year record-retention
clock start ticking? - Correct answer-July 4
Jerry is a new licensee and he's excited to be creating some advertising. When he
does this, what must he remember about including his brokerage's designated name
in his advertising? - Correct answer-The brokerage's designated business name
must be meaningfully and conspicuously present.
Fresh out of community college and newly licensed as a real estate salesperson,
Ben just took on a short sale as his first listing. Ben told his broker, Janine, that he
could handle the transaction and had just advised his seller client that he could do it
with minimal damage to the client's credit rating. Janine immediately took Ben off
the listing and assigned it to a more experienced licensee. Why? - Correct answer-
By predicting the seller's credit rating outcome, Ben crossed the line into giving
advice that requires additional licensure.
You're a real estate licensee in Maryland. You're walking through a property with a
new seller client. The seller tells you that the property is serviced by the public
sewer system, but when walking up the drive you noticed the access hatch for a
©COPYRIGHT 2025, ALL RIGHTS RESERVED 4
Answers Graded A+
Blaire apparently hasn't learned her lesson. She paid a $5,000 penalty when MREC
found her guilty of misrepresentation, a $10,000 penalty when she was found
guilty of placing a for sale sign in someone's yard without permission, and now
she's committed three more violations by placing a series of discriminatory ads.
What's the maximum penalty MREC can levy for these new violations? - Correct
answer-75,000
Which of these parties WOULD need a real estate license in Maryland? - Correct
answer-Marsha, an attorney who is selling a client's home, as this is something she
typically does as part of her practice
New Maryland licensees pay a fee into the Guaranty Fund to help maintain it.
What is the amount of the fee? - Correct answer-$20
DeShawn has been licensed as a salesperson in Maryland for 18 months. Which of
the following statements is true about his upcoming license renewal? - Correct
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,answer-The commission will send DeShawn a renewal reminder at least 60 days
before his license's expiration date.
Who presides over a Maryland Real Estate Commission hearing? - Correct answer-
An administrative law judge
In order to qualify as one of the five real estate professional members of the
Maryland Real Estate Commission board, how many years of real estate
experience must you have? - Correct answer-10
Damon lives in Frederick but is affiliated with a broker in downtown Baltimore.
He'd like to affiliate with a broker closer to home but doesn't want to sever his
relationship with his current broker. What needs to happen in order for Damon to
be able to work for both brokerages? - Correct answer-Both brokers need to send a
letter to the commission stating their approval of the arrangement and that there is
no conflict of interest.
Tiara's Maryland salesperson's license is going to expire next week if she doesn't
complete all of the required continuing education hours. She's completed three
hours of agency, three hours of legislative updates, 1.5 hours of fair housing, and
three hours of electives. What other coursework does she need to complete in order
to renew her license? - Correct answer-Three hours of ethics (including
professionalism) and 1.5 more hours of electives
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
,In addition to your name, what must be included in any advertising? - Correct
answer-Designated name of your brokerage firm
Kent's seller client's home just went under contract on Tuesday. Just as he's
hanging the "under contract" sign in the yard, he gets an email alert from a
different buyer's agent with a new offer attached. What should Kent do with the
offer? - Correct answer-Present it to his client.
Ben and Leslie received their finalized purchase contract on April 10, just moments
after the sellers put their final signatures on it. Ben and Leslie decided that since
the home they're buying was built in 1920, they'd like to have it inspected for lead-
based paint. When is the latest that the couple can have the inspection performed if
they want to be able to back out of the contract? - Correct answer-April 20
Which of the following does NOT qualify as a ministerial act under Maryland law?
- Correct answer-Offering earnest money deposit advice
Which of the following is NOT a penalty that the Maryland Real Estate
Commission may impose upon a licensee who violated the Maryland Code of
Ethics? - Correct answer-Jail time
For sale signs on ground rent properties that show the price of the property must
also state which of the following? - Correct answer-Annual ground rent plus the
full cost of capitalization
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
, Shelby listed her seller client's condo on April 4. It went under contract May 16.
That contract fell through on May 29. The listing agreement expired on July 4,
with no other offers or contracts. On what date does the five-year record-retention
clock start ticking? - Correct answer-July 4
Jerry is a new licensee and he's excited to be creating some advertising. When he
does this, what must he remember about including his brokerage's designated name
in his advertising? - Correct answer-The brokerage's designated business name
must be meaningfully and conspicuously present.
Fresh out of community college and newly licensed as a real estate salesperson,
Ben just took on a short sale as his first listing. Ben told his broker, Janine, that he
could handle the transaction and had just advised his seller client that he could do it
with minimal damage to the client's credit rating. Janine immediately took Ben off
the listing and assigned it to a more experienced licensee. Why? - Correct answer-
By predicting the seller's credit rating outcome, Ben crossed the line into giving
advice that requires additional licensure.
You're a real estate licensee in Maryland. You're walking through a property with a
new seller client. The seller tells you that the property is serviced by the public
sewer system, but when walking up the drive you noticed the access hatch for a
©COPYRIGHT 2025, ALL RIGHTS RESERVED 4
