Maryland Home Improvement Salesperson Exam Prep Questions and Answers, Exams of Real Estate Management

Download Maryland Home Improvement Salesperson Exam Prep Questions and Answers and more Exams Real Estate Management in PDF only on Docsity! MARYLAND HOME IMPROVEMENT SALESPERSON EXAM PREP QUESTIONS AND ANSWERS When must a contractor's home improvement license be renewed? - correct answer By June 30th- every 2 years What is the initial assessment for the home improvement guaranty fund of every home improvement contractor? - correct answer $100 Requirement of a home improvement contract - correct answer The customer is given a signed copy of the contract before work begins What is the maximum deposit a contractor may require to build a deck attached to a house if the total contract if for $5400 - correct answer $1800 A contractor specializes in building decks. What is the most important item in his advertising? - correct answer His name and license number An applicant for or holder of a subcontractor license must have general liability insurance of not less than what amount? - correct answer $50,000 MARYLAND HOME IMPROVEMENT SALESPERSON EXAM PREP QUESTIONS AND ANSWERS What is the license application fee for a salesperson license? - correct answer $120 Which person is required to obtain a Maryland home improvement license? - correct answer A contractor who works in Maryland but whos principal place of business is not in Maryland. A home improvement contractor has contracted for and constructed a garbage. The roof failed to support the snow load the following winter, damaging both rood and the owner car. The contractor repaired the roof, but refuses to pay for repairs to the car. How much may the property owner recover from the home improvement guaranty fund for repairs to his car? - correct answer Nothing A successful salesperson for a single contractor wants to expand his income by representing additional contractors. How many additional contractors may he represent. - correct answer 1 MARYLAND HOME IMPROVEMENT SALESPERSON EXAM PREP QUESTIONS AND ANSWERS An owner and a contractor prepare a false certificate of completion for presentation to the contractors bank to obtain additional credit. What is the maximum penalty upon conviction? - correct answer A $5,000 fine and imprisonment up to 3 years for the contractor and the owner An individual seeking a Home Improvement contractors license was denied by the Home Improvement commission due to failure to provide the required financial information. Following a hearing the denial was reaffirmed. How longs must he wait before he may reapply for a license. - correct answer 6 months A woman wishes to work as a salesperson in the Hone Improvement field. What is not required? - correct answer Provide proof of general liability insurance How must a Home Improvement contractor display his license number on all work vehicles. - correct answer The letters MHIC# and his license number in 3" high letters on both sides of the vehicle MARYLAND HOME IMPROVEMENT SALESPERSON EXAM PREP QUESTIONS AND ANSWERS The name used in an application for a salesperson's license must be? - correct answer The legal name of the applicant A home Improvement contractor is advertising a sale on hot tubs. His ads include only the basic price of the tub. What is required in his ad? - correct answer A statement that accessories shown or which may be essential to operation are not included in the advertised price. A claim against the Home Improvement Guaranty Fund must be brought to the commission within what period of time? - correct answer Within 3 years of discovering the loss or damage A contractor offers employment to a telephone salesperson. Which of the following must accompany the salespersons application for a license. - correct answer No license is required What is required as part of a Home Improvement contract? - correct answer A list and description of materials to be used on the project MARYLAND HOME IMPROVEMENT SALESPERSON EXAM PREP QUESTIONS AND ANSWERS The property owner may obtain payments for loss under the Home Improvement guaranty fund for? - correct answer The cost of replacing substandard materials What is grounds for revoking a Home Improvement contractors license? - correct answer failing to report information concerning changes in ownership of the business A contractor receives a notice of hearing before the Home Improvement Commission with relation to a claim entered against him. What response is required? - correct answer None, no legal requirement Example of door to door sale? - correct answer A roofing contractor called to fix a leak in a property owners roof. Sells the owner a contract for a completely new roof Example of not a door to door sale - correct answer Sale of a $300 investment advisory program via credit card purchase over the internet