UPDATED MARYLAND STATE EXAM QUESTIONS WITH VERIFIED SOLUTIONS
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Course
MARYLAND STATE
Institution
MARYLAND STATE
According to Maryland disclosure guidelines, upon which of the following events is it NOT appropriate to give the buyer the opportunity to review the seller's disclosure/disclaimer statement?
The day of the home inspection
When the buyer expresses interest in purchasing the property
When th...
UPDATED MARYLAND STATE EXAM 2024-2025
QUESTIONS WITH VERIFIED SOLUTIONS
According to Maryland disclosure guidelines, upon which of the following events is it NOT
appropriate to give the buyer the opportunity to review the seller's disclosure/disclaimer
statement?
The day of the home inspection
When the buyer expresses interest in purchasing the property
When the buyer makes an offer
When the property goes on the market - CORRECT ANSWER The day of the home
inspection
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?
"I'm always flexible. If we need to, we'll add an amendment to the agreement granting
you permission to cancel early."
"Listing agreements in Maryland must be for a definite amount of time. If it would make
you more comfortable, we can set the expiration date for one month, then have it
automatically renew unless you decide to cancel."
"There's a provision right here that gives either of us permission to cancel the
agreement early."
,UPDATED MARYLAND STATE EXAM 2024-2025
QUESTIONS WITH VERIFIED SOLUTIONS
"You may cancel early. But per Maryland law, since listing agreements must have a
definite termination date, if you do cancel I'll have to charge you a nominal cancellation
fee." - CORRECT ANSWER "There's a provision right here that gives either of us
permission to cancel the agreement early."
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 doesn't need them to sign the Consent for Dual Agency form since her seller
client already has.
Fatima isn't permitted to act as a dual agent.
Fatima must wait until the open house is finished to have her new clients sign the
Consent for Dual Agency form.
Fatima needs to reaffirm the seller's dual agency consent before she can help the
buyers make their offer. - CORRECT ANSWER Fatima isn't permitted to act as a dual
agent.
, UPDATED MARYLAND STATE EXAM 2024-2025
QUESTIONS WITH VERIFIED SOLUTIONS
Only brokers may act as dual agents. For this scenario to be legal, Fatima would
represent one side of the transaction as an intra-company agent, and her broker would
appoint another licensee in Fatima's brokerage to represent the other party.
evon 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?
Crab Shack may terminate the listing agreement.
Devon and Courtney may terminate their agency relationship with Crab Shack and find
another broker.
Devon and Courtney will be held to their previous dual agency consent and the
transaction will continue unhindered.
The buyers may find another broker to represent them. - CORRECT ANSWER
Devon and Courtney may terminate their agency relationship with Crab Shack and find
another broker.
Bridget represents Colin, who's buying Hugh's house. Darcy represents Hugh. Hugh
completed and signed the Residential Property Disclosure/Disclaimer Statement, and
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