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Real Estate Licensing Maryland-Real-Estate-Salesperson Exam
Maryland Real Estate Salespersonination (Page 10 )

Updated On: 7-Feb-2026
Page 4 of 23
PDF with 110 Questions

A veteran licensee always has a face-to-face meeting before he works with any buyer.
What might be a good reason for this?

  1. To build trust and rapport
  2. To determine the buyer's ethnicity
  3. To get the buyer's FICO score, credit report, and tax receipts
  4. To look the buyer in the eye to see if the buyer is hiding anything

Answer(s): A

Explanation:

Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:

Under Maryland's agency law, a licensee must establish a relationship of trust, confidence, and loyalty with a client.

Meeting face-to-face helps the agent explain agency relationships, present the Understanding Whom Real Estate Agents Represent disclosure, and begin building rapport and confidence, which are critical in fiduciary relationships.

As emphasized in the Brokerage and Agency module, personal contact helps ensure informed consent and professional transparency--never to collect personal demographic or financial data outside proper procedures.

Reference (Maryland Source):

­ Maryland 60-Hour Principles and Practices Course, Law of Agency and Broker-Client Relationships section.

­ Business Occupations and Professions Article §17-530 through §17-534.



An organization with many investors who jointly participate in a real estate investment and must adhere to the rules and regulations of the Securities and Exchange Commission is a

  1. C corporation
  2. Partnership
  3. S corporation
  4. Syndicate

Answer(s): D

Explanation:

Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:

A syndicate is an association of two or more investors who unite their capital to own or develop real estate projects.

When investment interests are offered to the public, the syndicate becomes subject to federal securities regulations administered by the Securities and Exchange Commission (SEC).

Maryland's pre-licensing course explains that syndications may take the form of limited partnerships, corporations, or real-estate investment trusts (REITs), but the unifying element is pooled investor participation under securities law oversight.

Reference (Maryland Source):

­ Maryland 60-Hour Principles and Practices Course, Forms of Ownership and Syndication section.

­ Securities Act of 1933 and 1934 (SEC Regulations).



What's a foreclosure?

  1. A property sale that occurs in less than one week
  2. A sale that fails to receive a high enough bid at auction and then falls to the bank's ownership
  3. The forced sale of a property due to the borrower defaulting on the mortgage loan
  4. The sale of a property when the market value of the home is less than what is owed, plus closing cost

Answer(s): C

Explanation:

Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:

Foreclosure is the legal process by which a lender exercises its right to force the sale of mortgaged property when the borrower defaults on the note or deed of trust.

In Maryland--a judicial foreclosure state--the lender must file a court action before selling the property.

Proceeds from the sale are used to satisfy the debt, accrued interest, and foreclosure costs.

This definition is covered in the Financing module under Mortgage Default and Foreclosure Remedies.

Reference (Maryland Source):

­ Maryland 60-Hour Principles and Practices Course, Financing and Foreclosure Procedures section.

­ Maryland Real Property Article §7-105 et seq.



Octogenarians Gertie and Frank both have advanced Alzheimer's disease and met in Sunset Living, a skilled nursing center for people with advanced Alzheimer's disease, where they're both residents. They fell in love and get hitched, signing a marriage certificate. This is an example of a _____ contract.

  1. An executory
  2. An implied
  3. An invalid
  4. A valid

Answer(s): C

Explanation:

Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:

For any contract to be legally enforceable, the parties must possess legal capacity--they must understand the nature and consequences of the agreement.

Individuals suffering from advanced Alzheimer's disease lack contractual capacity, making the agreement void (invalid) from its inception.

The Contracts module stresses that an invalid or void contract has no legal effect because one or more essential elements--competent parties, lawful objective, consideration, mutual consent, and legal form--are missing.

Reference (Maryland Source):

­ Maryland 60-Hour Principles and Practices Course, Elements of a Valid Contract section.

­ Maryland Contract Law Principles, General Common Law Doctrine on Capacity.



You represent a buyer of a $1 million property. The seller's agent offers a 2.5% cooperative agent compensation.
Who's your client?

  1. The buyer
  2. The seller
  3. The seller's agent
  4. The seller's agent's broker

Answer(s): A

Explanation:

Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:

Under Maryland law, agency relationships are determined by who the licensee represents, not by who pays the compensation.

Even though the buyer's agent may receive payment from the listing broker via a cooperative compensation (often shared through the MLS), that payment does not make the buyer's agent an agent of the seller.

The licensee's fiduciary duties--loyalty, confidentiality, disclosure, obedience, reasonable care, and accounting--belong solely to the buyer, the client under the brokerage agreement.

This principle is detailed under the Maryland Agency Law section of the pre-licensing course.

Reference (Maryland Source):

­ Maryland 60-Hour Principles and Practices Course, Law of Agency module.

­ Business Occupations and Professions Article §17-530 through §17-534.

­ COMAR 09.11.07.01 ­ Disclosure of Agency Relationships.



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