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Maryland Real Estate Exam CORRECT QUESTIONS & ANSWERS(GRADED A) $9.99   Add to cart

Exam (elaborations)

Maryland Real Estate Exam CORRECT QUESTIONS & ANSWERS(GRADED A)

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  • Course
  • Maryland Real Estate
  • Institution
  • Maryland Real Estate

Appoints members of Maryland Real Estate Commission MREC created by? - ANSWER Governor license law How is executive director of commission chosen? - ANSWER Appointed by secretary of labor, licensing, and regulation Minimum level of guaranty fund Initial fee? - ANSWER 250,000 $20 Maryla...

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  • October 26, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • maryland real estate
  • Maryland Real Estate
  • Maryland Real Estate
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shantelleG
Maryland Real Estate Exam CORRECT
QUESTIONS & ANSWERS(GRADED A)
Appoints members of Maryland Real Estate Commission

MREC created by? - ANSWER Governor

license law



How is executive director of commission chosen? - ANSWER Appointed by secretary of labor, licensing,
and regulation



Minimum level of guaranty fund

Initial fee? - ANSWER 250,000

$20



Maryland real estate commission comprised of - ANSWER four members not real estate licensees, five
are licensee (must be member of county appointed for at least 5 years)



Fees paid for real estate licensees go where? - ANSWER The State Real Estate Commission Fund



Upper limit of financial loss protected by guaranty fund - ANSWER 25,000



Brokers principals are called... - ANSWER Clients



Brokers handle purchase and sale what must happen - ANSWER Designate two intra-company agents



Dual Agency is permitted when.. - ANSWER In brokerage firms consisting of three or more licenses

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