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Real Estate Maryland Real Estate Salesperson Examination Sample Questions (Q80-Q85):

NEW QUESTION # 80
What regulation or regulatory authority identifies sites that have hazardous substances, and requires the responsible parties to clean them up?

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

Answer: B

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 # 81
Janice's life tenant, Jacob, is currently living on her property. Once Jacob dies, Janice has arranged for the property to be given to the School for the Gifted. What interest does the School for the Gifted currently have?

A. Ownership
B. Possession
C. Reversionary
D. Remainder

Answer: D

Explanation:
When a life estate is measured by the life of a life tenant (Jacob) and the grantor (Janice) specifies that, upon the life tenant's death, the property passes to a third party, that third party holds a remainder interest (a present, non-possessory future interest). If the property were set to return to the grantor instead, the grantor would hold a reversionary interest.
References: Maryland 60-Hour Course - Interests in Real Estate module (freehold estates, life estates, remainder vs. reversion; present vs. future interests).

NEW QUESTION # 82
What are PCBs?

A. A substance resulting from the decay of uranium
B. A substance that grows due to moisture problems
C. Chemical compounds used in cooling and insulating, mainly in electrical transformers
D. A chemical compound that occurs naturally in the environment

Answer: C

Explanation:
Polychlorinated biphenyls (PCBs) are synthetic chemical compounds formerly used as coolants and insulators in electrical equipment, hydraulic systems, and fluorescent-light ballasts. They are toxic, persistent in the environment, and regulated by the U.S. EPA under the Toxic Substances Control Act (TSCA). Maryland's course covers PCBs among major environmental hazards requiring disclosure or remediation.
Reference:Maryland 60-Hour Course - "Environmental Issues and Disclosures" Module; EPA TSCA (15 U.S.
C). 2605) PCB Regulations.

NEW QUESTION # 83
What type of ground lease allows a tenant to buy out the lease?

A. Irretrievable
B. Conceivable
C. Redeemable
D. Retrievable

Answer: C

Explanation:
In Maryland-specific coverage within "Leases and Property Management," the course explains ground leases and the unique Maryland concept of ground rents. A redeemable ground rent permits the leasehold owner (tenant) to redeem-that is, buy out-the ground rent interest by paying a statutory redemption amount, thereby merging the leasehold and reversionary interests and effectively ending the ground rent. This contrasts with irreedeemable/irretrievable arrangements (not permitted for new creations under current Maryland law) where no buyout right exists.
References (Course Outline/Study Topics): Maryland 60-Hour Principles and Practices of Real Estate -
"Leases and Property Management" (Ground leases and Maryland ground rents; redeemable ground rent concept and tenant redemption).

NEW QUESTION # 84
What do you call the person or entity that oversees trust or escrow money?

A. Mortgage agent
B. Escrow master
C. Special agent
D. Escrow agent

Answer: D

Explanation:
The escrow agent (often the broker, title company, or attorney) is the fiduciary who receives and holds trust money in a regulated escrow account until contract terms are fulfilled. In Maryland, the broker is responsible for maintaining escrow records and depositing all trust money promptly in accordance with COMAR
09.11.02.19. "Escrow master" and "mortgage agent" are not legal titles under Maryland law, and "special agent" refers to the agency relationship, not handling of funds.
Reference:Maryland 60-Hour Course - "Real Estate Brokerage Operations" section; Maryland Business Occupations and Professions Article 17-505 (Escrow Accounts).

NEW QUESTION # 85
......

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Valid Test Maryland-Real-Estate-Salesperson Vce Free & Maryland-Real-Estate-Salesperson Study Demo

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Real Estate Maryland Real Estate Salesperson Examination Sample Questions (Q80-Q85):

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