Maryland Real Estate Salesperson Online Practice Questions

Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
The Closing Disclosure (CD) is a federally required document under the TILA-RESPA Integrated Disclosure Rule (TRID).
It must be provided to the borrower at least three business days prior to closing and itemizes loan terms, fees, and total closing costs.
The Loan Estimate (LE) is given earlier in the process―within three business days of loan application―while the Closing Disclosure confirms final figures.
Maryland licensees must understand both forms as part of the Closing and Settlement Procedures
portion of their coursework.
Reference (Maryland Source):
C Maryland 60-Hour Principles and Practices Course, Closing Procedures and Federal Disclosure Requirements section.
C TILA-RESPA Integrated Disclosure Rule (TRID), 12 C.F.R. §1026.19(f).

Explanation:
Comprehensive and Detailed
A corporation is a single legal entity, separate from its shareholders. When it holds title to real property, ownership is in severalty, meaning “sole” ownership by one legal person. Unlike joint tenancy or tenancy in common, there are no co-owners in severalty; the corporate entity alone holds all rights of ownership. This principle is highlighted in the ownership portion of the Maryland pre-licensing curriculum.
Reference: Maryland 60-Hour Principles and Practices Course C “Forms of Real Estate Ownership” Topic; Maryland Real Property Article §1-101 (definition of person includes corporation).

Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:
Under Maryland’s agency law, a licensee must establish a relationship of trust, confidence, and loyalty with a client.
Meeting face-to-face helps the agent explain agency relationships, present the Understanding Whom Real Estate Agents Represent disclosure, and begin building rapport and confidence, which are critical in fiduciary relationships.
As emphasized in the Brokerage and Agency module, personal contact helps ensure informed consent and professional transparency―never to collect personal demographic or financial data outside proper procedures.
Reference (Maryland Source):
C Maryland 60-Hour Principles and Practices Course, Law of Agency and Broker-Client Relationships section.
C Business Occupations and Professions Article §17-530 through §17-534.

Explanation:
Comprehensive and Detailed
A complaint against a real estate licensee in Maryland must be filed with the Maryland Real Estate Commission (MREC).
The complaint can be submitted online via the Commission’s official website or by mail using the form provided by the MREC.
The Commission investigates alleged violations of the Real Estate Brokers Act, including misconduct, ethical breaches, or failure to comply with license law. Complaints are not handled by the brokerage or individual agents.
Reference: Maryland 60-Hour Principles and Practices C “Maryland License Law and Regulations”; Maryland Business Occupations and Professions Article §17-322 C Disciplinary Actions.

Explanation:
Comprehensive and Detailed
Downzoning occurs when a local government changes zoning classifications to reduce the density or intensity of land use, such as rezoning an area from multifamily to single-family residential.
It can limit development potential and may lower market value but is typically done to control growth, preserve open space, or maintain community character.
The Maryland course explains downzoning under local land-use authority topics governed by county and municipal zoning ordinances.
Reference: Maryland 60-Hour Principles and Practices C “Land Use Controls and Property Development”; Maryland Land Use Article, §4-102 C Zoning Authority of Local Governments.