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Ce shop Maryland State Exam Review 2024 Questions and Answers
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Ce shop Maryland State Exam ReviewWhat information about the Guaranty Fund must be included in every Maryland sales
contract? - Answer -Notice to the buyer of the Guaranty Fund's protection up to $50,000
A Maryland salesperson included a personal phone number on an ad. What other piece
of information must also be included on the ad? - Answer -Broker's office phone number
In Maryland, transaction records may be stored electronically as long as ______. -
Answer -Licensees are able to provide a paper copy upon commission request
The Maryland Real Estate Commission may discipline brokers who do not reasonably
and adequately supervise their affiliated licensees. Which of the following does the
commission NOT consider in determining whether supervision was reasonable and
adequate? - Answer -The number of mandatory work hours expected of independent
contractors
Failure to present an offer or counter offer is a cause for? - Answer -Disciplinary action
a lawsuit could be placed against this person
Who may act as a dual agent? - Answer -ONLY BROKERS
Whose responsibility is it to ensure that a prospective buyer receives a copy of the
Maryland Residential Property Disclosure and Disclaimer Statement prior to the buyer
making a written offer to the seller? - Answer -Buyers broker and seller broker
Roger Kelly is signing a listing contract with a client. Which of the following is an
acceptable signature on the document? - Answer -"Roger Kelly"
What is the goal of the Maryland Real Estate Commission in declaring an area a real
estate conservation area? - Answer --To curb threats to the racial stability of an area.
-may suspend real estate ads for 24 months
-Prevention designed to prevent panic selling, blockbusting or reduced market values
that may occur
When can you withdraw a offer or counter offer? - Answer --Until accepted
- Acceptance is effective upon notification to the offeror (buyer)
Electronic Record System - Answer -Must use an indexing system that provides:
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