MARYLAND REAL ESTATE EXAM PREP Complete questions & solutions(rated a)
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Course
MARYLAND REAL ESTATE
Institution
MARYLAND REAL ESTATE
Which of the following does NOT end presumed buyer representation? - ANSWER The licensee working with prospects fails to present a disclosure of representation form
Does Maryland have dower laws? - ANSWER no
Dual agency is permitted only in brokerage firms consisting of three or more licensee...
MARYLAND REAL ESTATE EXAM PREP
Complete questions & solutions(rated a)
Which of the following does NOT end presumed buyer representation? - ANSWER The licensee working
with prospects fails to present a disclosure of representation form
Does Maryland have dower laws? - ANSWER no
Dual agency is permitted only in brokerage firms consisting of three or more licensee - ANSWER true in
maryland
In which of the following situations does an act of real estate brokerage require a real estate brokerage
license? - ANSWER A person charges a modest consulting fee to guide his friend in the sale of a home
Which is not necessary for a valid contract? - ANSWER due date
Licensees do NOT need to do which of the following to be "qualified real estate agents" and be eligible to
use Schedule C-Self-Employed when filing federal tax returns? - ANSWER Be free from their broker's
control of how their work is done
Which is TRUE of employees of the Commission? - ANSWER They include an executive director and field
inspectors
cooperating agents - ANSWER -A cooperating agent who brings in a buyer has fiduciary duties to the
seller/owner
- Cooperating agents can represent the buyer
-Cooperating agents are sub-agents of the listing broker
After getting a license, how often must you take Continuing Education classes? - ANSWER every 2 years -
15 hours
, Where does fees paid for by Maryland real estate licenses go? - ANSWER The State Real Estate
Commission Fund
What term means "going to the state?" - ANSWER escheat
the Maryland Real Estate Commission - ANSWER 3 out of its members are not real estate licensees and 5
are
a team leader - ANSWER The team leader is chosen by the members of the team
The team leader is responsible for reasonable and adequate supervision of the team
The team leader can be the branch manager
Which of the following is a requirement for team advertising? - ANSWER The name of the team must be
directly connected with the full name of the brokerage firm of which it is a part
Which government agency may purchase easements to restrict land for agricultural use? - ANSWER
Maryland Agricultural Department
Whom may use a listing agreement form published by a multiple listing service ? - ANSWER Any licensed
member of the organization That operates that listing system
blockbusting regarded by Maryland law - ANSWER As a misdemeanor
Which of the following could result in discipline by the commission? - ANSWER BAD FAITH
Which of the following is a source of funds with which the State can purchase agricultural easements? -
ANSWER Transfer taxes imposed at the time of real estate transfers
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