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Real Estate Maryland Real Estate Salesperson Examination Sample Questions (Q192-Q197):

NEW QUESTION # 192
One of Mrs. Wilson's tenants is leaving in a few months. She hates to see this particular tenant go because he has been an ideal tenant-always paying his rent on time, keeping his place clean, and never a complaint.
Unlike so many of her other tenants, this tenant deserves to get back his security deposit. By law, when must Mrs. Wilson return the deposit to her tenant?

Answer: C

Explanation:
Under Maryland landlord-tenant law, the landlord must return the tenant's security deposit, with any required interest, within 45 days after the end of the tenancy, less any permissible deductions for unpaid rent or damages beyond ordinary wear and tear. The landlord must also provide an itemized statement of any deductions. The 45-day deadline is statutory and is emphasized in Maryland pre-licensing instruction within property management and leasing modules.
References (Maryland Sources / Pre-Licensing Core Content):
* Maryland Real Property Article 8-203 (Security Deposits) - return within 45 days; interest; itemization of deductions.
* Maryland 60-Hour Pre-Licensing Course: "Leases and Property Management" (security deposits; deadlines; itemized statements).


NEW QUESTION # 193
Supply and demand determine the competitive environment. Which of the following is a true statement?

Answer: A

Explanation:
The appraisal principle of supply and demand explains market power: when supply increases relative to demand (more homes on the market), conditions shift toward a buyer's market, where buyers hold greater negotiating power and prices tend to soften rather than rise. Sellers generally cannot demand more in a high-supply environment.
References: Maryland pre-licensing curriculum-Real Estate Appraisal and Valuation (economic principles affecting value: supply and demand; buyer's vs. seller's markets).


NEW QUESTION # 194
What type of ownership do most corporations use to hold real property?

Answer: A

Explanation:
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 - "Forms of Real Estate Ownership" Topic; Maryland Real Property Article 1-101 (definition of person includes corporation).


NEW QUESTION # 195
Which of the following can reimburse the buyer after the sale if a title issue arises?

Answer: D

Explanation:
An owner's (buyer's) title insurance policy protects the buyer against covered title defects (e.g., undisclosed liens, errors, or prior claims) that surface after closing, and can reimburse for covered losses up to policy limits. Homeowners insurance covers casualty risks, not title defects. Lien proceeds and a special deed (e.
g., special warranty) do not provide post-closing insurance coverage.
References: Maryland 60-Hour Principles & Practices Course - Closing the Real Estate Transaction (title insurance types: lender's vs. owner's; coverage and claims).


NEW QUESTION # 196
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?

Answer: D

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 # 197
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