Real Estate Maryland-Real-Estate-Salesperson Real 2026 Braindumps Mock Exam Dumps
Maryland-Real-Estate-Salesperson Exam Questions | Real Maryland-Real-Estate-Salesperson Practice Dumps
NEW QUESTION # 32
What happens when personal property is attached to real property?
- A. It becomes a fixture.
- B. It's considered detached property.
- C. It remains personal property.
- D. It's classified as emblements.
Answer: A
Explanation:
When personal property (chattel) is physically attached to real property in such a way that it becomes part of the real estate, it becomes a fixture. Fixtures transfer with the property upon sale unless specifically excluded in the contract. The determination depends on attachment, adaptation, and intent. Maryland's course addresses fixtures under "Real Property and the Law," emphasizing how they affect ownership and conveyance.
Reference:Maryland 60-Hour Principles and Practices Course - "Real Property and the Law" Topic; Maryland Real Property Article 1-101(b).
NEW QUESTION # 33
Joe and Emma Parsons begin informally working with their neighbor Kyle, who's a real estate licensee, to find a bigger house. The parties have not signed any agreements or discussed the arrangements. This is an example of ______ agency.
- A. Unspoken
- B. Executory
- C. Implied
- D. Express
Answer: C
Explanation:
The agency module explains that agency may be created by express agreement (written or verbal) or by implication through conduct. When parties act as if an agency relationship exists-for example, a licensee regularly advising and assisting buyers without a signed agreement-this can form implied agency. Because no express (written or oral) agreement exists in this scenario, the relationship described is implied agency, created by the parties' behavior and course of dealings.
References: Maryland 60-Hour Principles and Practices of Real Estate - Agency Law: creation of agency (express vs. implied), duties arising from implied agency, and risk management.
NEW QUESTION # 34
When assigning a contract, what should the assignor ensure is permitted in the purchase contract?
- A. Assignability
- B. Termination
- C. A due-on-sale clause
- D. Acceleration
Answer: A
Explanation:
A contract assignment occurs when a buyer (the assignor) transfers his or her contractual rights to another party (the assignee) before closing.
However, this is only allowed if the original purchase contract permits assignment-that is, if it includes an assignability clause or does not prohibit assignment.
If the contract specifically states "non-assignable" or "assignment requires seller consent," the assignor must comply with those terms.
This concept appears in the Contracts and Transaction Procedures section of the course.
Reference (Maryland Source):
- Maryland 60-Hour Principles and Practices Course, Real Estate Contracts and Assignments section.
- Maryland Contract Law Principles (General Common Law on Assignability).
NEW QUESTION # 35
What type of ownership do most corporations use to hold real property?
- A. Joint tenancy
- B. Common
- C. Trust
- D. Severalty
Answer: D
Explanation:
A corporation is a single legal entity, separate from its shareholders. When it holds title to real property, ownership is in severalty, meaning "sole" ownership by one legal person. Unlike joint tenancy or tenancy in common, there are no co-owners in severalty; the corporate entity alone holds all rights of ownership. This principle is highlighted in the ownership portion of the Maryland pre-licensing curriculum.
Reference:Maryland 60-Hour Principles and Practices Course - "Forms of Real Estate Ownership" Topic; Maryland Real Property Article 1-101 (definition of person includes corporation).
NEW QUESTION # 36
Violators of the Sherman Antitrust Act may be subject to fines. For what amount may corporations and individuals be liable?
- A. Up to $10 million for corporations and $1 million for individuals
- B. Up to $1 million for corporations and $100,000 for individuals
- C. Up to $100 million for corporations and $1 million for individuals
- D. Up to $100,000 for corporations and $1,000 for individuals
Answer: C
Explanation:
The course's antitrust section explains that Sherman Act criminal penalties can reach up to $100 million for corporations and up to $1 million for individuals, plus possible imprisonment for individuals. Real estate examples include price-fixing, market allocation, group boycotts, and tying arrangements-all prohibited.
References: Maryland 60-Hour Principles & Practices Course - Real Estate Brokerage Operations (antitrust compliance, prohibited conduct, penalties).
NEW QUESTION # 37
What type of violation are you committing when you fail to include a material fact or make false or misleading advertising statements?
- A. Improper delivery of instruments
- B. Misrepresentation
- C. Conflict of interest
- D. Improper brokerage commission
Answer: B
Explanation:
Comprehensive and Detailed
Misrepresentation occurs when a licensee omits or falsifies a material fact or makes false, deceptive, or misleading statements in advertising or communications. In Maryland, misrepresentation is a violation under §17-322(a)(1) and COMAR 09.11.02.01 (Advertising). A material fact is any information that could influence a consumer's decision in a real-estate transaction. Intentional misrepresentation may also lead to civil liability for fraud.
NEW QUESTION # 38
In terms of encumbrances, what's a license?
- A. Process by which a non-owner gains possession of a property after a certain amount of time
- B. Permission to do something on another's land while also possessing an interest or ownership in the land
- C. Permission without possession, interest, or ownership
- D. Permission to alter someone's land or property
Answer: C
Explanation:
Comprehensive and Detailed
A license is a personal, revocable privilege to perform some act on another person's land without any possessory right or ownership interest. Unlike an easement, a license does not transfer with the land and can be revoked at any time by the licensor. Examples include permission to hunt, park, or attend an event on private property.
In Maryland's pre-licensing course, this concept is taught under "Interests in Real Estate" as a type of encumbrance that affects property use but not ownership.
NEW QUESTION # 39
Which document is provided to borrowers at least three days prior to closing and provides disclosures about the costs of the transaction?
- A. Closing Disclosure
- B. Loan Estimate
- C. The Mortgage Servicing Transfer Disclosure
- D. Escrow closing notice
Answer: A
Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
The Closing Disclosure (CD) is a federally required document under the TILA-RESPA Integrated Disclosure Rule (TRID).
It must be provided to the borrower at least three business days prior to closing and itemizes loan terms, fees, and total closing costs.
The Loan Estimate (LE) is given earlier in the process-within three business days of loan application-while the Closing Disclosure confirms final figures.
Maryland licensees must understand both forms as part of the Closing and Settlement Procedures portion of their coursework.
Reference (Maryland Source):
- Maryland 60-Hour Principles and Practices Course, Closing Procedures and Federal Disclosure Requirements section.
- TILA-RESPA Integrated Disclosure Rule (TRID), 12 C.F.R. §1026.19(f).
NEW QUESTION # 40
What type of license will you receive if you have a supervising broker at the time of application?
- A. Active license
- B. Broker's license
- C. Firm license
- D. Inactive license
Answer: A
Explanation:
Comprehensive and Detailed
In Maryland, when a new salesperson applicant identifies a supervising broker on the license application, the applicant receives an active license.
An inactive license is issued only if no broker is designated.
An active license authorizes the salesperson to conduct real estate activities under the supervision of the sponsoring broker, in compliance with MREC rules.
Reference:
Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course - "Maryland License Law and Regulations" Module Md. Business Occupations and Professions Article §17-301-§17-303 - License Activation and Supervision.
NEW QUESTION # 41
Carson is purchasing a $600,000 property by obtaining an 80/20 loan. How much is Carson financing?
- A. $600,000
- B. $420,000
- C. $480,000
- D. $120,000
Answer: C
Explanation:
Comprehensive and Detailed
An 80/20 loan structure means the borrower finances 80% of the purchase price through a first mortgage and 20% through a second mortgage, leaving no down payment.
For a $600,000 property:
80% × $600,000 = $480,000 (first loan)
20% × $600,000 = $120,000 (second loan)Total financing = $480,000 + $120,000 = $600,000.Therefore, Carson is financing $480,000 through the first loan, corresponding to the "80%" part referenced in the question's options.
NEW QUESTION # 42
Who is typically responsible for paying the commission to a listing agent in a real estate transaction?
- A. The buyer and the licensee
- B. The buyer
- C. The buyer and the seller
- D. The seller
Answer: D
Explanation:
In Maryland, agency exists when a licensee represents a client under a brokerage agreement. If the seller has a written listing agreement with a broker, the seller is the client.
An unrepresented buyer is considered a customer, not a client. The licensee owes customers limited duties- honesty, fair dealing, and disclosure of material facts-but does not owe fiduciary duties such as loyalty, confidentiality, or obedience.
Therefore, in this case, the seller is the only client.
Reference: Maryland 60-Hour Principles and Practices - "Law of Agency" module; Maryland Business Occupations and Professions Article 17-530-17-532.
NEW QUESTION # 43
Which of the following is the best definition of a covenant between a lessor and lessee?
- A. An addendum to a contract added after it's signed
- B. An agreement or promise made between the parties
- C. A provision for which neither party to a contract is willing to compromise
- D. A rent escalation
Answer: B
Explanation:
Comprehensive and Detailed
In leasing, a covenant is a binding promise or agreement contained within the lease. It can require or restrict certain actions by either the lessor (landlord) or lessee (tenant)-for example, a covenant of quiet enjoyment, a covenant to pay rent, or a covenant to maintain the property. These promises are enforceable under contract and property law.
NEW QUESTION # 44
Which of the following can reimburse the buyer after the sale if a title issue arises?
- A. Special deed
- B. Lien proceeds
- C. Homeowners insurance
- D. Buyer title insurance
Answer: D
Explanation:
An owner's (buyer's) title insurance policy protects the buyer against covered title defects (e.g., undisclosed liens, errors, or prior claims) that surface after closing, and can reimburse for covered losses up to policy limits. Homeowners insurance covers casualty risks, not title defects. Lien proceeds and a special deed (e.
g., special warranty) do not provide post-closing insurance coverage.
References: Maryland 60-Hour Principles & Practices Course - Closing the Real Estate Transaction (title insurance types: lender's vs. owner's; coverage and claims).
NEW QUESTION # 45
Where can you find out what's not covered by a title insurance policy?
- A. The county clerk's office
- B. The title insurance policy's schedule of exceptions
- C. The internet
- D. The lender's attorney
Answer: B
Explanation:
The course teaches that the title insurance policy itself specifies coverage and exclusions. Coverage basics appear on Schedule A, while Schedule B-Exceptions clearly lists matters excluded from coverage (e.g., specific recorded easements or restrictions, taxes, and other encumbrances identified in the title search).
Therefore, to determine what is not covered, parties must review the policy's schedule of exceptions.
References: Maryland 60-Hour Principles and Practices of Real Estate - Closing and Title Insurance: policy components, schedules, exclusions, and reading a title commitment/policy.
NEW QUESTION # 46
Which of the following is true about certain government-backed loan programs, such as VA loans?
- A. They're for farm loans only.
- B. Loan terms may be as long as 38 years.
- C. They mirror the requirements for conventional loans.
- D. They're for rural housing loans only.
Answer: B
Explanation:
Comprehensive and Detailed
The U.S. Department of Agriculture (USDA) Rural Development Loan Program provides financing for low- to moderate-income borrowers in rural areas.
The Maryland course teaches that Section 502 Direct Loans may offer repayment terms of up to 38 years, depending on borrower income and property location.
These loans are designed to promote homeownership in eligible rural communities and may include payment assistance or subsidies to reduce monthly payments.
NEW QUESTION # 47
If a consumer wants to file a deceptive ad complaint, which entity should be contacted?
- A. The local police department
- B. The Department of Justice
- C. The BBB
- D. The FBI
Answer: C
Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
The Better Business Bureau (BBB) accepts complaints related to false, misleading, or deceptive advertising practices and can investigate, mediate, or forward concerns to regulatory agencies.
The Maryland pre-licensing course advises licensees that maintaining truthful and transparent advertising is an ethical and legal requirement under both Maryland Real Estate Commission regulations and the Federal Trade Commission (FTC) rules.
Consumers may also contact the Maryland Real Estate Commission (MREC) for license law violations, but general deceptive ad complaints typically begin with the BBB.
Reference (Maryland Source):
- Maryland 60-Hour Principles and Practices Course, Ethical Advertising and Consumer Protection section.
- COMAR 09.11.02.01 - Ethical Standards of Advertising.
- Federal Trade Commission Act, 15 U.S.C. §45.
NEW QUESTION # 48
A buyer representation agreement is similar to which document used when representing a seller?
- A. A consumer notice
- B. A seller disclosure
- C. A listing agreement
- D. A seller's net sheet
Answer: C
Explanation:
A buyer representation agreement establishes an agency relationship between a buyer and a broker, outlining the broker's duties and compensation for assisting the buyer in finding and purchasing a property.
This agreement serves the same purpose as a listing agreement does for a seller-it defines the relationship, responsibilities, and authority between client and broker.
Both agreements are legally binding contracts and must include the terms of representation, duration, and agency disclosures as required by Maryland Real Estate Commission (MREC) regulations.
Reference:
Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course - "Listing Agreements and Buyer Representation" Module Md. Business Occupations and Professions Article 17-532 - Duties of Licensees in Agency Relationships.
NEW QUESTION # 49
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