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Members of the Maryland Real Estate Commission serve _______ -year terms.
Answer : B
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
According to the Maryland Real Estate Brokers Act, which governs the Maryland Real Estate Commission (MREC), the Commission consists of nine members appointed by the Governor of Maryland with the advice and consent of the Senate. Each member serves a four-year term and may remain in office until a successor is appointed and qualified. Members may be reappointed for additional terms.
The composition of the Commission is as follows:
Five licensed real estate professionals, each representing one of Maryland's five geographic regions.
Four consumer members, who are not licensed real estate professionals and have no substantial financial interest in the real estate industry.
This organizational and term structure ensures both professional and public representation within the Commission's regulatory activities. The information is directly derived from Title 17 of the Business Occupations and Professions Article, 17-202 of the Annotated Code of Maryland --- the same statute summarized in the Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course under the ''Maryland License Law and Regulations'' section.
Reference (Maryland Source):
Maryland Business Occupations and Professions Article, Title 17, 17-202 -- Maryland Real Estate Commission; Membership; Terms.
If a consumer wants to file a deceptive ad complaint, which entity should be contacted?
Answer : A
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
The Better Business Bureau (BBB) accepts complaints related to false, misleading, or deceptive advertising practices and can investigate, mediate, or forward concerns to regulatory agencies.
The Maryland pre-licensing course advises licensees that maintaining truthful and transparent advertising is an ethical and legal requirement under both Maryland Real Estate Commission regulations and the Federal Trade Commission (FTC) rules.
Consumers may also contact the Maryland Real Estate Commission (MREC) for license law violations, but general deceptive ad complaints typically begin with the BBB.
Reference (Maryland Source):
-- Maryland 60-Hour Principles and Practices Course, Ethical Advertising and Consumer Protection section.
-- COMAR 09.11.02.01 -- Ethical Standards of Advertising.
-- Federal Trade Commission Act, 15 U.S.C. 45.
Manny has a client who wants to purchase a commercial building. Manny doesn't have any experience negotiating commercial purchases. Which action should Manny take to demonstrate his good faith and most ethical behavior toward his client?
Answer : D
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
Under Maryland's Code of Ethics and Professional Conduct, licensees must act with honesty, integrity, and reasonable skill and care.
If a licensee lacks experience in a specialized area, they must disclose that fact to the client and either refer the client or seek assistance from a qualified professional---with the client's informed consent.
By being transparent and collaborating with an experienced commercial broker, Manny fulfills his ethical obligation of competence and disclosure while protecting his client's interests.
Reference (Maryland Source):
-- Maryland 60-Hour Principles and Practices Course, Ethics and Professional Conduct section.
-- COMAR 09.11.02.01 -- Code of Ethics for Real Estate Licensees.
-- Business Occupations and Professions Article 17-322.
Which statement best represents how dual agency is impacted by teams in Maryland?
Answer : B
Comprehensive and Detailed
Under Maryland Real Estate Brokers Act 17-530 and COMAR 09.11.02.08, dual agency is permitted only when informed, written consent is obtained from both buyer and seller. When licensees operate as part of a team, the broker (or office manager acting as the broker's designee) may appoint intra-company agents (ICAs) from within that team to represent each party.
The broker or manager then acts as the dual agent, overseeing both sides without providing direct representation to either. This structure preserves confidentiality and compliance with Maryland's agency disclosure requirements.
In what type of agency does a licensee have limited authority to act on behalf of a client buying or selling a property?
Answer : C
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.
