MARYLAND REAL ESTATE LATEST EXAM 2026/2027
QUESTIONS AND SOLUTIONS RATED A+
✔✔In MD, all completed real estate forms must be kept on file with the broker for a
minimum of how many years? - ✔✔5 years
✔✔In MD, the buyer has the right to inspect the property within how many days prior to
settlement? - ✔✔5 days
✔✔What is the length of time in MD for a party to sue the other party for breach of
contract? - ✔✔3 years
✔✔What does the Commission do? - ✔✔Adopts, maintains, and enforces General
Regulations and a Code of Ethics that set forth standards of conduct for all individuals
who are under the authority of the Brokers Act
✔✔What are the duties and powers of the Commission? (6) - ✔✔- Investigate
complaints of unlicensed broker activity
- Investigate complaints about licensee behavior
- Conduct hearings and administer oaths
- Issue subpoenas for attendance of witnesses or production of evidence
- Take depositions
- Seek injunctions
✔✔What is the time period in which reinstatement is possible of a license that has
expired due to nonrenewal? - ✔✔Reinstatement is possible within 3 years following the
date of it's expiration.
✔✔What must one do to have their license reinstated after expiration due to
nonrenewal? - ✔✔- Show proof of having met all applicable continuing education
requirements since expiration
- Pay all past-due renewal fees
- Pay a $150 reinstatement fee
✔✔How many hours of continuing education is required to renew a MD salesperson
License? - ✔✔15 hours
✔✔What is the breakdown of continuing education hours? - ✔✔1.5 hrs: Fair Housing
3 hrs: Legislative Update
3 hrs: "MD Real Estate Commission's Code of Ethics, Flipping, and Predatory Lending"
3 hrs: "Principals of Agency and Agency Disclosure" (at first renewal then alternate
subsequent renewals)
5.5 hrs: additional electives needed to each required total hours
, ✔✔What is an unlicensed person improperly collecting a real estate commission guilty
of? - ✔✔Misdemeanor
✔✔How is the executive director of the Commission chosen? - ✔✔Appointed by the
Secretary of Labor, Licensing, and Regulation
✔✔Where do fees paid for Maryland real estate licenses go? - ✔✔After being submitted
to the Comptroller of the State, fees are forwarded to the State Real Esate Commission
Fund
✔✔When does Maryland residential agency law apply? - ✔✔The sale of a real property
that is improved by 1-4 single-family units
The lease of above real property for 126+ days
✔✔What is a hybrid company? - ✔✔A company willing to perform both single and dual
agency transactions when all parties agree and details of governing law are satisfied
✔✔What does the Brokers Act require regarding trust money? - ✔✔Brokers must
promptly (no later than 7 business days after contract of sale) deposit funds in a non-
interest-bearing checking/savings account
✔✔Under the Junk Fax Prevention Act, persons who send faxes must: - ✔✔Have an
established business relationship with the recipients
✔✔Who issues Maryland real estate salesperson and broker licenses? - ✔✔The Real
Estate Commission
✔✔Title Theory State - ✔✔States in which a mortgagee holds actual title to property
until the loan is repaid - lenders receive defeasible fee interest in mortgaged land
✔✔Lien Theory State - ✔✔States in which a mortgagee holds only a lien against
property (not actual title) until the loan is repaid, and the mortgagor holds the actual title
✔✔What law requires certain contracts for the transfer of an interest in realty to be in
writing to be enforceable? - ✔✔The Statue of Frauds
✔✔Requirements for a Maryland residential land installment contract: (3) - ✔✔- It must
be recorded by the vendor within 15 days after it has been signed
- It must include all terms of the transaction
- It must be signed by the vendor and the vendee
✔✔What is the interest limit for mortgage loans in Maryland? - ✔✔There is no interest
limit on first mortgages involving Maryland real estate
QUESTIONS AND SOLUTIONS RATED A+
✔✔In MD, all completed real estate forms must be kept on file with the broker for a
minimum of how many years? - ✔✔5 years
✔✔In MD, the buyer has the right to inspect the property within how many days prior to
settlement? - ✔✔5 days
✔✔What is the length of time in MD for a party to sue the other party for breach of
contract? - ✔✔3 years
✔✔What does the Commission do? - ✔✔Adopts, maintains, and enforces General
Regulations and a Code of Ethics that set forth standards of conduct for all individuals
who are under the authority of the Brokers Act
✔✔What are the duties and powers of the Commission? (6) - ✔✔- Investigate
complaints of unlicensed broker activity
- Investigate complaints about licensee behavior
- Conduct hearings and administer oaths
- Issue subpoenas for attendance of witnesses or production of evidence
- Take depositions
- Seek injunctions
✔✔What is the time period in which reinstatement is possible of a license that has
expired due to nonrenewal? - ✔✔Reinstatement is possible within 3 years following the
date of it's expiration.
✔✔What must one do to have their license reinstated after expiration due to
nonrenewal? - ✔✔- Show proof of having met all applicable continuing education
requirements since expiration
- Pay all past-due renewal fees
- Pay a $150 reinstatement fee
✔✔How many hours of continuing education is required to renew a MD salesperson
License? - ✔✔15 hours
✔✔What is the breakdown of continuing education hours? - ✔✔1.5 hrs: Fair Housing
3 hrs: Legislative Update
3 hrs: "MD Real Estate Commission's Code of Ethics, Flipping, and Predatory Lending"
3 hrs: "Principals of Agency and Agency Disclosure" (at first renewal then alternate
subsequent renewals)
5.5 hrs: additional electives needed to each required total hours
, ✔✔What is an unlicensed person improperly collecting a real estate commission guilty
of? - ✔✔Misdemeanor
✔✔How is the executive director of the Commission chosen? - ✔✔Appointed by the
Secretary of Labor, Licensing, and Regulation
✔✔Where do fees paid for Maryland real estate licenses go? - ✔✔After being submitted
to the Comptroller of the State, fees are forwarded to the State Real Esate Commission
Fund
✔✔When does Maryland residential agency law apply? - ✔✔The sale of a real property
that is improved by 1-4 single-family units
The lease of above real property for 126+ days
✔✔What is a hybrid company? - ✔✔A company willing to perform both single and dual
agency transactions when all parties agree and details of governing law are satisfied
✔✔What does the Brokers Act require regarding trust money? - ✔✔Brokers must
promptly (no later than 7 business days after contract of sale) deposit funds in a non-
interest-bearing checking/savings account
✔✔Under the Junk Fax Prevention Act, persons who send faxes must: - ✔✔Have an
established business relationship with the recipients
✔✔Who issues Maryland real estate salesperson and broker licenses? - ✔✔The Real
Estate Commission
✔✔Title Theory State - ✔✔States in which a mortgagee holds actual title to property
until the loan is repaid - lenders receive defeasible fee interest in mortgaged land
✔✔Lien Theory State - ✔✔States in which a mortgagee holds only a lien against
property (not actual title) until the loan is repaid, and the mortgagor holds the actual title
✔✔What law requires certain contracts for the transfer of an interest in realty to be in
writing to be enforceable? - ✔✔The Statue of Frauds
✔✔Requirements for a Maryland residential land installment contract: (3) - ✔✔- It must
be recorded by the vendor within 15 days after it has been signed
- It must include all terms of the transaction
- It must be signed by the vendor and the vendee
✔✔What is the interest limit for mortgage loans in Maryland? - ✔✔There is no interest
limit on first mortgages involving Maryland real estate
