MD REAL ESTATE EXAM QUESTIONS & ANSWERS

MD REAL ESTATE EXAM QUESTIONS & ANSWERS

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Terms in this set (30)


Maria has listed her home -NO
with ABC Realty who
represents her. Nelson has
hired ABC Realty to find
him a house and he is
being shown Maria's
house. Is this sub-agency
and ABC Realty is a
cooperating agent?
-NO
-YES

Which of the following -Real Estate Salespersons
may file a complaint with
the MREC
-Real Estate Brokers
-No one, complaints go to
the courts
-A non-licensee aggrieved
by the action of a licensee
-Real Estate Salespersons

, Any person aggrieved by -Compensation in the amount of actual loss, up to
a licensed broker or $50,000
salesperson in an act of
embezzlement may apply
to the Guaranty Fund for
-Compensation and
damages
-Compensation in the
amount of actual loss, up
to $50,000
-Compensation, damages,
attorney fees, and court
costs
-Compensation for the
amount of actual loss,
regardless of amount

When the buyer or seller -The broker holding the money, shall decide how to
fails to complete the real distribute the money based on the terms of real
estate transaction estate
-The buyer automatically
loses the earnest money
-The buyer's and seller's
salespersons will keep the
earnest money deposit as
their commission contract
-MREC will determine how
the earnest money will be
distributed
-The broker holding the
money, shall decide how
to distribute the money
based on the terms of real
estate