Maryland’s Regulation of Licensee Activities Flashcards
Which of the following is NOT a reason for which a real estate licensee may be disciplined?
Charging a commission in excess of 35%
Which of the following is something for which a real estate licensee may be disciplined?
Accepting compensation from someone other than the broker with whom the licensee is affiliated
A real estate salesperson must have how many years’ experience to become a team leader?
3 years’ experience
A real estate broker who has received earnest money must deposit the money in a trust account within
7 business days.
The federal penalty for a “pattern of violations” of the CAN SPAM Act is
$11,000 per call
When a complaint is filed against a broker alleging a failure to provide reasonable and adequate supervision of affiliated licensees, who has the burden of proof?
The broker
Real estate licensee records
may be stored electronically if certain conditions are met
Who is responsible for supervising the members of a real estate team?
The team leader, branch manager, and broker
A protest to a real estate broker’s proposed distribution of trust must be made within
30 days
A Maryland real estate broker must maintain
an office within the state.
