Maryland-Real-Estate-Salesperson Test Book - Maryland-Real-Estate-Salesperson VCE Dumps
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Real Estate Maryland Real Estate Salesperson Examination Sample Questions (Q206-Q211):
NEW QUESTION # 206
Which of these statements about cooperating with other licensees is true?
- A. Licensees must cooperate with other licensees when it is in the interest of their client, and share the commission on a previously agreed-upon basis.
- B. Licensees must cooperate with other licensees, even if it is not in their client's best interest.
- C. Licensees must compensate other licensees.
- D. Licensees must cooperate with and compensate other licensees, even if it's not in their client's best interest.
Answer: A
Explanation:
Comprehensive and Detailed
Under Maryland license law and the Maryland Code of Ethics (COMAR 09.11.02.33), licensees are expected to cooperate with other licensees when doing so serves their client's best interest. Cooperation often involves sharing information or coordinating showings, but does not require compensation unless there is a written agreement specifying how commissions will be shared. The client's interest always takes priority over cooperative obligations.
NEW QUESTION # 207
Which document is provided to borrowers at least three days prior to closing and provides disclosures about the costs of the transaction?
- A. Loan Estimate
- B. Closing Disclosure
- C. Escrow closing notice
- D. The Mortgage Servicing Transfer Disclosure
Answer: B
Explanation:
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 # 208
A licensee wants to meet with her potential buyer clients face-to-face in her office. What's her reason for doing this?
- A. She wants to make sure the buyers are serious about purchasing.
- B. She wants the buyers to meet her office mate.
- C. She wants to sell the buyers on a local neighborhood that she likes.
- D. She wants to run a credit check on the buyers.
Answer: A
Explanation:
Meeting potential buyer clients in-person allows the licensee to establish agency, verify identity, discuss representation agreements, and assess buyer motivation and qualifications. Maryland's brokerage-operation standards emphasize that the licensee should determine whether prospects are ready, willing, and able to purchase before proceeding, ensuring compliance with agency-disclosure and record-keeping requirements.
Reference:Maryland 60-Hour Course - "Real Estate Brokerage Operations" Module; Maryland Business Occupations and Professions 17-532 (Agency Disclosure and Written Agreements).
NEW QUESTION # 209
What must an agent do if they receive an undisclosed bonus from a seller to incentivize closing by a certain date?
- A. The agent must disclose the bonus to any buyers they are working with on the transaction.
- B. The agent can accept the bonus without any disclosure requirements.
- C. The agent should keep the bonus confidential and not inform the broker.
- D. The agent should pay the bonus to the broker.
Answer: A
Explanation:
Comprehensive and Detailed
Under Maryland Code of Ethics (COMAR 09.11.02.33A) and Maryland Business Occupations and Professions §17-322(a)(23), a licensee must disclose any compensation, commission, fee, or bonus received from a party other than their client in the transaction.
If a seller offers an undisclosed bonus to the buyer's agent, that bonus must be fully disclosed in writing to the buyer (the agent's client) before acceptance. Failure to do so constitutes an ethical and legal violation. The payment, once disclosed, must be processed through the agent's broker, who is responsible for all compensation distribution.
Reference:
.
NEW QUESTION # 210
Real property ownership may offer significant tax advantages. Which one of the following is a potential advantage?
- A. Insurance expenses
- B. Depreciation
- C. Transfer tax
- D. Taxable gains
Answer: B
Explanation:
A key tax advantage of owning income-producing real property is depreciation, which allows investors to deduct a portion of the property's cost basis (excluding land) over its useful life for tax purposes. This non- cash expense can shelter rental income and reduce taxable income. By contrast, insurance expenses and transfer taxes are ordinary expenses/costs (not advantages), and taxable gains are a potential liability upon disposition, not a benefit.
References: Maryland 60-Hour Course: "Real Estate Financing" and "Math for Real Estate and Practical Applications" (investment property tax concepts-depreciation vs. expenses; taxable gain on sale).
NEW QUESTION # 211
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