Maryland Real Estate Broker Exam — All Questions
3 questions
Which body licenses and regulates real estate brokers in Maryland?
- a.The Maryland Association of Realtors
- b.The Maryland Insurance Administration
- c.The Maryland Real Estate Commission (MREC)✓
- d.The circuit court of each county
The Maryland Real Estate Commission (MREC), within the Maryland Department of Labor, licenses and regulates brokers, associate brokers, and salespersons under the Business Occupations and Professions Article, Title 17. A trade association is a private membership group with no licensing power, and courts and the Insurance Administration have no jurisdiction over real estate licensing.
In Maryland's license structure, which credential falls between salesperson and broker?
- a.Provisional broker
- b.Associate broker✓
- c.Managing broker
- d.Broker-in-charge
Maryland's ladder runs salesperson, then associate broker, then broker. An associate broker has met the broker qualification requirements but practices under another licensed broker rather than operating a firm independently. Maryland also recognizes a Branch Office Manager role. Terms like 'managing broker' and 'broker-in-charge' are used in other states, not Maryland.
A Maryland broker who wants to operate a branch office separate from the main office must generally:
- a.Have the branch supervised by a broker or a designated Branch Office Manager✓
- b.Close the main office while the branch operates
- c.Obtain a separate license from each county
- d.Register the branch only with the local zoning board
Maryland requires each office, including a branch, to be under the supervision of the broker or a qualified Branch Office Manager accountable for the licensees working there. This ensures a responsible licensed person oversees advertising, trust funds, and licensed activity at every location. County registration and zoning approvals are separate matters and do not replace MREC supervision requirements.