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MD Real Estate License Exam | Questions and 100% Correct Answers
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MD Real Estate License Exam |Questions and 100% Correct Answers
Five days - ✔✔Charlie and her girlfriend, Frankie, are buying a house together.
Having found the perfect home, they made an offer without first having seen the seller's
property disclosure/disclaimer statement. The statement arrived two days after they
entered into the contract with the seller. How many days do Charlie and her girlfriend
have to rescind their offer if they find something in the disclosure that makes them
uncertain about the property?
-Three days
-Five days
-Seven days
-Ten days
None are required to be displayed. - ✔✔Maryland broker Sandrine has five
salespersons working under her supervision. Whose license must be displayed in the
brokerage office?
-Only the licenses of the five salespersons must be displayed.
,-Only Sandrine's license is required to be displayed; the salesperson licenses must
be retained.
-Sandrine's license must be displayed, as well as the licenses of the five salespersons.
-None are required to be displayed.
He failed to cooperate with the commission in its investigation. - ✔✔Mike's a busy
listing broker. Luna, one of his associated licensees, had a complaint filed against her.
Mike was busy with his own clients, and the commission's response deadline came
and went without him noticing. The following week Mike received a new complaint—
this time, against him. What is the new complaint likely about?
-He failed to cooperate with the commission in its investigation.
-He failed to present himself before the commission.
-He failed to properly supervise his affiliated licensees.
-He didn't make sure that Luna responded to the commission's notice.
Shawna displays the MREC notice informing consumers that she represents the seller. -
✔✔Which of these licensees is correctly following MREC guidelines for hosting an
open house?
-Shawna displays the MREC notice informing consumers that she represents the seller.
-Fabrizio displays his real estate license and wears a name tag.
,-Shelby makes sure to place a warning next to the plate of cookies she's put
out, informing attendees that they contain peanuts.
-Luke makes sure that all attendees sign an Understanding Whom Real Estate
Agents Represent form.
The buyer must work exclusively with the broker during the term of the agreement. -
✔✔Which of the following is one of the buyer's responsibilities as stated in the
Maryland exclusive buyer agency agreement?
-The buyer must work exclusively with the broker during the term of the agreement.
-The buyer has seven days to consent to being represented by a designated or
dual agency before terminating the agreement.
-The buyer must attend three open house events on their own.
-The buyer must make a purchase offer on the first property the agent finds that
meets the buyer's needs.
The address of the property the buyer is purchasing - ✔✔Which of the following
is NOT a required inclusion in a Maryland buyer representation agreement?
-Each party's duties and responsibilities to the other
-The address of the property the buyer is purchasing
-A definite termination date
-Compensation details
, Devon and Courtney will be held to their previous dual agency consent and the
transaction will continue unhindered. - ✔✔Devon and Courtney both consented
to dual agency when they signed their listing agreement with Chad from Crab Shack
Homes, the Eastern Shore's premiere vacation home brokerage. But when another
licensee from Crab Shack presented Chad with an offer, the couple got cold claws
and decided they didn't want the potential conflict of interest with dual agency and
withdrew their consent. Which of the following is NOT a potential outcome?
-The buyers may find another broker to represent them.
-Devon and Courtney will be held to their previous dual agency consent and
the transaction will continue unhindered.
-Crab Shack may terminate the listing agreement.
-Devon and Courtney may terminate their agency relationship with Crab Shack and
find another broker.
Jackson, an associate broker, acts as dual agent and designates two salespersons
from the brokerage to represent each party. - ✔✔Which of these scenarios depicts
a potentially illegal dual agency arrangement in Maryland?
-Corrina gives preliminary consent to dual agency when she signs her listing
agreement, then re-affirms her consent when an offer is made.
-Sandrine represents the seller in a transaction, and another licensee from her
firm represents the buyer. Both parties have consented to dual agency.
-Parker represents a seller, and Jane, a licensee with another firm, delivers a
buyer customer's offer for that seller's property.
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