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[General] ​Three Versions Of Updated Real Estate Maryland-Real-Estate-Salesperson Ex

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【General】 ​Three Versions Of Updated Real Estate Maryland-Real-Estate-Salesperson Ex

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Real Estate Maryland Real Estate Salesperson Examination Sample Questions (Q173-Q178):NEW QUESTION # 173
Which of the following financing types involves the sale of personal property with the real property?
  • A. Security
  • B. Blanket
  • C. Package
  • D. Wrap-around
Answer: C
Explanation:
A package loan (package mortgage) finances both real property and personal property (chattels) together in a single loan-common with new homes that include appliances or furnishings. A blanket loan covers multiple parcels; a wrap-around is junior financing that "wraps" an existing loan; "security" is not a loan type but a general concept.
References: Maryland pre-licensing topic Real Estate Financing (types of mortgages: package, blanket, purchase-money, wrap-around; treatment of personal property in financing).

NEW QUESTION # 174
When a client understands what dual agency is and agrees in writing to allow a firm to act as a dual agent for them in a real estate transaction, this is known as ________.
  • A. Representation by proxy
  • B. Informed consent
  • C. Double dipping
  • D. Mutual agreement
Answer: B
Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
Informed consent is a legal requirement under Maryland Agency Law when a brokerage represents both a buyer and a seller in the same real estate transaction (dual agency).
In this arrangement, the broker acts as the dual agent, while separate intra-company agents may represent each party.
The client must receive full disclosure of the potential conflicts of interest and consent in writing before dual agency can occur.
Without informed, written consent, dual agency is prohibited under Maryland Real Estate Commission (MREC) regulations.
Reference:
Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course - "Maryland Agency Law" Module Md. Business Occupations and Professions Article §17-530-§17-532 - Disclosure and Consent to Dual Agency.

NEW QUESTION # 175
Sandra enters a contract to sell her home to Paul. Under the statute of frauds, the written contract must name the contracting parties, identify the subject matter of the contract, and ________.
  • A. Achieve a result that is fair to all parties
  • B. Present the essential terms and conditions of the contract
  • C. Be handwritten
  • D. Be signed by two or more attorneys
Answer: B
Explanation:
The Statute of Frauds requires that certain contracts-including those for the sale or transfer of real property- be in writing and include:
The names of the parties,
Identification of the property, and
The essential terms and conditions (such as price and contingencies).This ensures the agreement is legally enforceable in court.
Reference:
Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course - "Real Estate Contracts" Module Maryland Courts and Judicial Proceedings Article 5-901 - Statute of Frauds (Real Property).

NEW QUESTION # 176
What naming convention must a professional (e.g., real estate agent, attorney) follow when operating under a registered business name?
  • A. They must use their own name only.
  • B. They must use their own name or their own name in combination with a registered business name.
  • C. They must use a business name, which may not be their own name.
  • D. They must use their own name in combination with a nickname.
Answer: B
Explanation:
Comprehensive and Detailed
A sole proprietor in Maryland may operate under their personal legal name or under a trade name that has been properly registered with the Maryland Department of Assessments and Taxation (SDAT).
If a trade name is used, it must be clearly disclosed in all brokerage advertising and license registration records with the MREC.
This ensures public transparency and compliance with Maryland's real estate advertising and licensing requirements.

NEW QUESTION # 177
Which comments field in an MLS listing may contain gate, lockbox, and security code information with the seller's written permission?
  • A. Private
  • B. Public
  • C. Seller
  • D. General
Answer: A
Explanation:
The brokerage operations/MLS compliance section explains that sensitive showing instructions-such as gate codes, lockbox combinations, alarm details, and security instructions-must not appear in public- facing remarks. With the seller's written permission, these details, when necessary, may be placed only in
"Private" (Agent) Remarks, which are visible to MLS participants/subscribers (licensees) but not to the public. This protects seller security and complies with MLS rules and professional standards on advertising and confidentiality.
References (Course Outline/Study Topics):
Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course - "Real Estate Brokerage Operations" (MLS usage and compliance: public vs. private/agent remarks, confidentiality, seller permissions for showing/access instructions).

NEW QUESTION # 178
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