The buyer must work exclusively with the broker during the term of the agreement. - ANSWER 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.
...
MD Real Estate License Exam
COMPLETE QUESTIONS & SOLUTIONS
2024 LATEST UPDATE!!!
The buyer must work exclusively with the broker during the term of the agreement. - ANSWER 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 - ANSWER 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. - ANSWER 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. - ANSWER 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.
-Jackson, an associate broker, acts as dual agent and designates two salespersons from the brokerage to
represent each party.
Fatima isn't permitted to act as a dual agent. - ANSWER Fatima, a salesperson, is hosting an open house
in Annapolis for her seller client Ramona. Two interested buyers come in, and after Fatima gives them a
tour they tell her they'd like her to represent them in making an offer. Since her seller client has already
consented to dual agency, she gladly offers to represent the buyers and helps them write an offer right
,there at the open house, making sure that they also sign a Consent for Dual Agency form. What's wrong
with this scenario?
-Fatima must wait until the open house is finished to have her new clients sign the Consent for Dual
Agency form.
-Fatima isn't permitted to act as a dual agent.
-Fatima doesn't need them to sign the Consent for Dual Agency form since her seller client already has.
-Fatima needs to reaffirm the seller's dual agency consent before she can help the buyers make their
offer.
As a sub-agent for the seller - ANSWER Cheyenne has been working with a buyer, though they don't have
a signed agency agreement. When he finds a house he likes, Cheyenne helps him fill out the offer
paperwork and submits it to the seller's agent. In what capacity is Cheyenne contributing to this
transaction?
-As an agent for the buyer
-As a non-agent for the seller
-As a sub-agent for the buyer
-As a sub-agent for the seller
Offering earnest money deposit advice
Ministerial acts do not require that the licensee advocate for or advise the customer. Licensees should
not use their discretion or judgment in assisting customers. - ANSWER Which of the following does NOT
qualify as a ministerial act under Maryland law?
-Answering informational questions about a listing
, -Offering earnest money deposit advice
-Writing a purchase offer as instructed
-Granting property access to a home inspector
None are required to be displayed. - ANSWER 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. - ANSWER 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.
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