Practice Exam Software Real Estate Maryland-Real-Estate-Salesperson Exam Questions

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Real Estate Maryland Real Estate Salesperson Examination Sample Questions (Q194-Q199):

NEW QUESTION # 194
At its most basic level, which type of antitrust violation is a conspiracy between business competitors to set their prices to buy or sell goods or services at a certain price point?

A. Market allocation
B. Price fixing
C. Group boycotting
D. Tie-in arrangement

Answer: B

Explanation:
Price fixing occurs when competing firms agree to set prices, fees, or commission rates rather than allowing them to be independently determined. In real estate, this includes agreements among brokers to set commission rates or fee structures-an antitrust violation. Market allocation divides territories or clients, group boycotts are concerted refusals to deal, and tie-in arrangements force the purchase of a second product/service as a condition of sale.
Reference: Maryland pre-licensing curriculum - Brokerage Operations (antitrust compliance: price fixing, market allocation, boycotts, tie-ins).

NEW QUESTION # 195
A buyer can submit the earnest-money deposit in the form of _______.

A. A post-dated check
B. Verbal assurance
C. A promissory note
D. A personal check

Answer: D

Explanation:
Maryland license law allows the earnest-money deposit (good-faith deposit) to be paid in cash, certified funds, or personal check, provided the terms are disclosed in the sales contract. A post-dated check or promissory note is not considered "good funds" unless all parties agree in writing. Verbal assurances never satisfy the deposit requirement. The broker must promptly deposit the funds in a designated trust (escrow) account.
Reference:Maryland 60-Hour Course - "Real Estate Contracts" and "Brokerage Operations" modules; COMAR 09.11.02.19 (Escrow Accounts and Trust Money).

NEW QUESTION # 196
What does REO stand for?

A. Rental equality ownership
B. Real estate office
C. Rental equal opportunity
D. Real estate-owned

Answer: D

Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
REO stands for Real Estate-Owned. This term refers to properties that have gone through the foreclosure process and are now owned by the lender-usually a bank or mortgage company-because the property did not sell at the foreclosure auction.
These properties become part of the lender's real estate inventory and are often sold through REO departments or asset managers. The Maryland pre-licensing course includes REO properties under "Real Estate Brokerage Operations," explaining how real estate professionals handle and market foreclosed or bank-owned properties.
Reference:
Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course - "Real Estate Brokerage Operations" Module Federal Housing Administration (FHA) and HUD Foreclosure Sales Guidelines.

NEW QUESTION # 197
How does discrimination still occur, even though it's illegal?

A. Discrimination makes good business sense.
B. Not all laws make sense.
C. Discrimination is often not visible to the public.
D. Discrimination is human nature.

Answer: C

Explanation:
In the Fair Housing and Ethics module, the course emphasizes that unlawful housing discrimination often occurs in subtle or less visible forms, including steering, disparate impact, selective marketing, inconsistent application of qualifiers, and micro-level decision-making that the public may not observe. The fact that discrimination is illegal does not eliminate hidden practices; therefore, practitioners must know the protected classes, recognize subtle violations, and implement consistent, documented, and neutral business practices.
References: Maryland 60-Hour Principles and Practices of Real Estate - Fair Housing and Ethics:
prohibited practices (overt and subtle), disparate impact, steering, and compliance best practices.

NEW QUESTION # 198
In what type of agency does a licensee have limited authority to act on behalf of a client buying or selling a property?

A. A general agent
B. A special agent
C. A designated agent
D. A universal agent

Answer: B

Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
A special agent (also called a limited agent) is authorized to perform a single, specific act or transaction-such as assisting in the purchase or sale of a property.
Real estate brokers and salespersons generally act as special agents, with limited authority defined in the brokerage agreement.
They may not bind their clients to contracts without express permission.
This principle appears in the Law of Agency module and is contrasted with general agents (brokers' affiliated licensees) and universal agents (power-of-attorney representatives).
Reference (Maryland Source):
- Maryland 60-Hour Principles and Practices Course, Law of Agency section.
- Business Occupations and Professions Article §17-530 - §17-534.

NEW QUESTION # 199
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