Valid Maryland-Real-Estate-Salesperson Test Notes & Maryland-Real-Estate-Salesperson Certificate Exam

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Real Estate Maryland Real Estate Salesperson Examination Sample Questions (Q115-Q120):

NEW QUESTION # 115
What is the penalty for violating the privacy regulations under the California Consumer Privacy Act (CCPA)?

Answer: D

Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
Under the Maryland Real Estate Brokers Act (Business Occupations and Professions Article, §17-613), it is unlawful for any person to engage in real estate brokerage activities without a valid Maryland license.
The Maryland Real Estate Commission (MREC) may impose civil fines for unlicensed activity as follows:
Up to $5,000 for a first offense
Up to $15,000 for two offenses
Up to $25,000 for three or more offenses, but no more than $10,000 per violation Therefore, for multiple offenses, the maximum fine per violation is $10,000.


NEW QUESTION # 116
Which statement best represents how dual agency is impacted by teams in Maryland?

Answer: A


NEW QUESTION # 117
Shelly buys Mark's house, which is still in an option period with Monique. Monique decides to exercise her option after Shelly moves in. What will happen?

Answer: A

Explanation:
An option contract gives the optionee (Monique) the exclusive right to purchase a property within a specified period and under specific terms, but not the obligation to do so.
When properly executed and supported by consideration (the option fee), the option is a binding contract on the property owner (Mark) and any subsequent owners who take title with constructive notice of the existing option.
Therefore, when Monique exercises her valid option within the option period, Shelly must honor it-the property must be sold to Monique under the agreed terms.
Reference:
Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course - "Real Estate Contracts" Module Maryland Contract Law Principles - Option Contracts and Specific Performance.


NEW QUESTION # 118
The earth's surface, extending downward to the center of the earth and upward to infinity, including permanently attached natural objects, is called ______.

Answer: B

Explanation:
In real estate terminology taught in the course:
* Land = the earth's surface down to the center and upward to infinity, including permanently attached natural objects (trees, minerals, water).
* Real estate = land plus improvements (man-made attachments such as buildings, fences).
References: Maryland 60-Hour Principles & Practices Course - Real Property and the Law module (definitions of land, real estate, and real property


NEW QUESTION # 119
What's a foreclosure?

Answer: A

Explanation:
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.


NEW QUESTION # 120
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