Maryland real estate exam - Study guides, Class notes & Summaries

When a salesperson whose license has not been renewed negotiates a sale of real property, who is the commission payable to? a. the broker only b. no one c. the salesperson only d. the broker and the salesperson according to prior agreement - b. no one If a salesperson license is issued on January 2, 2016, when will it expire? a. January 2, 2016 b. September 2, 2016 c. April 1, 2016 d. March 31, 2016 - a. January 2, 2016 When prospective purchasers first arrive at a brokerage office to...

1. If a party uses a fictitious or different name than its business name, it must be approved by the a. Maryland Insurance Administration b. National Association of Insurance Commissioners c. Maryland Land Title Association d. American Land Title Association - Answer a. Maryland Insurance Administration 2. When there is termination of the appointment by a title insurer, the insurer must update the producer register within how many days. a. 15 days b. 30 days c. 45 days d. 60 days - An...

1. Many states determine the order of water rights according to which users of the water hold a recorded beneficial use permit. This allocation of water rights is determined by: A. accretion. B. riparian theory. C. littoral theory. D. the doctrine of prior appropriation. - ANSWER D 2. The right to control one's property includes all of the following EXCEPT: A. the right to invite people on the property for a political fund-raiser. B. the right to exclude the utilities meter rea...

Maryland Real Estate Exam Questions and Answers 100% Pass Nancy, a broker in Annapolis, is going over the listing agreement with her new client, Josie, who asks, "What if I need to cancel the agreement early?" What should Nancy tell her? 1. "I'm always flexible. If we need to, we'll add an amendment to the agreement granting you permission to cancel early." 2. "Listing agreements in Maryland must be for a definite amount of time. If it would make you more comfortable, we can se...

Maryland Real Estate Exam Questions and Answers Already Passed In Maryland, the Protection of Homeowners in Foreclosure Act describes the role of and sets guidelines for the actions of ______. Foreclosure consultants Maryland sponsoring broker Sandrine has five salespersons working under her supervision. Whose license must be displayed in the brokerage office? Only Sandrine's license is required to be displayed; the salesperson licenses must be retained. Cheyenne has been working...

Maryland Real Estate (Law) Practice Exam Questions with Certified Solutions When a salesperson whose license has not been renewed negotiates a sale of real property, who is the commission payable to? a. the broker only b. no one c. the salesperson only d. the broker and the salesperson according to prior agreement b. no one If a salesperson license is issued on January 2, 2016, when will it expire? a. January 2, 2016 b. September 2, 2016 c. April 1, 2016 d. March 31, 2016 a. ...

PSI Real Estate Exam (MD State Portion) Latest 2023 Graded A+ Real Estate brokerage is govern by: 1. Satutory Law - Brokers Act "Title 17" 2. Administrative Law - Code of Maryland Regulations (COMAR) Regulation is enacted and enforced by MD Real Estate Commission (MREC) Brokerage Services: For consideration: - *Selling, buying, exchanging, or leasing* any real estate or collecting rent - Assisting to *locate/obtain* for purchase/lease any residential real estate - Serving as a consultant En...

Maryland real estate license law is administered by the 1. Maryland Council on Housing Matters. 2. Maryland Real Estate Commission. 3. Maryland Association of REALTORS®. 4. Department of Housing and Urban Development (HUD). - ANSWER Maryland Real Estate Commission. All of the following statements are true regarding a vacancy or term of a commissioner EXCEPT that the 1. length of service for each term that a commissioner serves is four years. 2. terms of the Commission members ar...

Maryland Real Estate Exam Question and answers rated A+ 2024 Maryland Real Estate Exam Upon death of either spouse, the form of ownership converts to tenancy in common. - correct answer Which of the following statements about tenancy by the entirety in Maryland is FALSE? order in which they are filed or recorded. - correct answer Normally, the priority of general liens is determined by the Seek a deficiency judgment - correct answer After a borrower's default on home mortgage loa...

Maryland Real Estate Exam Question and answers 2024 verified to passMaryland Real Estate Exam Nancy, a broker in Annapolis, is going over the listing agreement with her new client, Josie, who asks, "What if I need to cancel the agreement early?" What should Nancy tell her? 1. "I'm always flexible. If we need to, we'll add an amendment to the agreement granting you permission to cancel early." 2. "Listing agreements in Maryland must be for a definite amount of time. If it would make...