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Pass The Exam On Your First Try With Real Estate Maryland-Real-Estate-Salesperson Exam Dumps

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Real Estate Maryland Real Estate Salesperson Examination Sample Questions (Q58-Q63):

NEW QUESTION # 58
Real property ownership may offer significant tax advantages. Which one of the following is a potential advantage?

A. Depreciation
B. Taxable gains
C. Insurance expenses
D. Transfer tax

Answer: A

Explanation:
A key tax advantage of owning income-producing real property is depreciation, which allows investors to deduct a portion of the property's cost basis (excluding land) over its useful life for tax purposes. This non- cash expense can shelter rental income and reduce taxable income. By contrast, insurance expenses and transfer taxes are ordinary expenses/costs (not advantages), and taxable gains are a potential liability upon disposition, not a benefit.
References: Maryland 60-Hour Course: "Real Estate Financing" and "Math for Real Estate and Practical Applications" (investment property tax concepts-depreciation vs. expenses; taxable gain on sale).

NEW QUESTION # 59
What type of license will you receive if you have a supervising broker at the time of application?

A. Inactive license
B. Broker's license
C. Firm license
D. Active license

Answer: D

Explanation:
In Maryland, when a new salesperson applicant identifies a supervising broker on the license application, the applicant receives an active license.
An inactive license is issued only if no broker is designated.
An active license authorizes the salesperson to conduct real estate activities under the supervision of the sponsoring broker, in compliance with MREC rules.
Reference:
Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course - "Maryland License Law and Regulations" Module Md. Business Occupations and Professions Article 17-301-17-303 - License Activation and Supervision.

NEW QUESTION # 60
When an offer is prepared by a licensee for a buyer to present to a seller, who determines the amount of the earnest money offered?

A. The buyer
B. The broker
C. The licensee
D. The seller

Answer: A

Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
The buyer determines the amount of the earnest money deposit, since it is the buyer's good-faith indication of intent to perform under the contract.
The licensee can explain customary local practices and typical deposit amounts but may not set or require a specific figure.
The offer, including the deposit amount, becomes binding only when accepted by the seller.
This is emphasized in the Contracts and Offer Preparation module, which explains that the buyer controls all offer terms, including price, contingencies, and deposit.
Reference (Maryland Source):
- Maryland 60-Hour Principles and Practices Course, Real Estate Contracts section.
- Business Occupations and Professions Article §17-322 (Improper Brokerage Practices).

NEW QUESTION # 61
What agency enforces fair housing laws in Maryland?

A. The Commission on Civil Rights
B. The Fair Housing Updates Board
C. The Fair Housing Administration and Enforcement Board
D. The Discriminatory Acts Board

Answer: A

Explanation:
The Maryland Commission on Civil Rights (MCCR) is the state agency responsible for enforcing fair housing laws within Maryland.
Under the Maryland Fair Housing Act (found in Title 20 of the State Government Article), the MCCR investigates complaints of discrimination in housing based on race, color, religion, sex, familial status, national origin, marital status, sexual orientation, gender identity, and disability.
The MCCR's duties include:
* Receiving and investigating housing discrimination complaints.
* Attempting conciliation between parties when possible.
* Referring cases to the U.S. Department of Housing and Urban Development (HUD) when they fall under federal jurisdiction.
* Enforcing penalties and ensuring compliance with both state and federal fair housing standards.
In the Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course, this information is covered under the "Maryland Fair Housing and Ethics Requirements" module, emphasizing that licensees must understand and comply with both federal Fair Housing Act provisions and Maryland's additional protected classes enforced by the MCCR.
Reference (Maryland Source):
* Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course - "Maryland Fair Housing and Ethics Requirements" Module
* Annotated Code of Maryland, State Government Article, Title 20 - Human Relations, 20-701 to 20-
711 (Maryland Fair Housing Act).

NEW QUESTION # 62
What regulation or regulatory authority identifies sites that have hazardous substances, and requires the responsible parties to clean them up?

A. Department of Housing and Urban Development
B. The National Environmental Policy Act
C. State Department of Environmental Quality
D. Comprehensive Environmental Response, Compensation, and Liability Act

Answer: D

Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
The Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), enacted in 1980 and commonly known as "Superfund," authorizes the Environmental Protection Agency (EPA) to identify and clean up sites contaminated with hazardous substances.
CERCLA also establishes liability for potentially responsible parties (PRPs)-including current and past owners, operators, and those who arranged for disposal of hazardous substances.
Maryland's pre-licensing course covers CERCLA as a federal regulation that affects real estate transactions involving contaminated properties, as buyers and sellers must be aware of any cleanup responsibilities before transfer.
Reference:
Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course - "Environmental Issues and Disclosures" Module Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S.C. §9601 et seq.).

NEW QUESTION # 63
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