Exam (elaborations)
CE Shop Final Exam Questions And Answers With Verified Solutions Already Passed!!! Rated A+
- Course
- Institution
CE Shop Final Exam Questions And Answers With Verified Solutions Already Passed!!! Rated A+
[Show more]
Content preview
CE Shop Final Exam Questions AndAnswers With Verified Solutions Already
Passed!!! Rated A+
Which of the following statements about sub-agency in Maryland is true? -
ANSWER✔✔ It is legal in Maryland
Jerome, a real estate licensee, works independently instead of under a sponsoring
broker. This means that he is licensed as ________. - ANSWER✔✔ broker
In order to be enforceable, what does the Statute of Frauds require a real estate
contract to be? - ANSWER✔✔ in writing
What agency enforces fair housing laws in Maryland? - ANSWER✔✔ The
Commission on Civil Rights
How does discrimination still occur, even though it's illegal? - ANSWER✔✔
Discrimination is often not visible to the public.
James is obtaining an 80/20 loan. What does 80/20 signify? - ANSWER✔✔
Amount financed/Down payment
Frieda, a Maryland broker, finds herself in a dual agency situation. She's been
really busy and hasn't had the time to assign two of her licensees as ICAs to the
transaction. The good news is that although Frieda hasn't obtained either party's
consent, neither the seller nor the buyer seem to mind. Is this situation legal? -
ANSWER✔✔ No; without informed consent, dual agency is illegal.
, If you're in a caveat emptor state, which statement about property condition
disclosures is true? - ANSWER✔✔ The seller isn't obligated to proactively
disclose property defects.
What type of loan may be used if the buyer is obtaining seller financing? -
ANSWER✔✔ Purchase money mortgage
When must the consent for dual agency be reaffirmed by the parties to the
transaction? - ANSWER✔✔ Prior to the parties entering into the contract for the
transaction
Which of these is NOT a form of ownership for real estate? - ANSWER✔✔
Riparian
What is the purpose of the Guaranty Fund? - ANSWER✔✔ To allow a consumer
to be paid when they've been awarded a judgment for fraud, deceit, or
misrepresentation in a real estate transaction and have exhausted all other remedies
to collect the award.
Under what circumstances may a seller legally terminate an exclusive right-to-sell
listing agreement before its listing term has passed? - ANSWER✔✔ If the listing
broker agrees in writing to the termination
In a life estate, all of the following apply during the term except _____ -
ANSWER✔✔ Control
Ownership
Possession
!Transferability!
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller classhub. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now