MARYLAND REAL ESTATE EXAM PREP Complete questions & solutions(rated a)
6 views 0 purchase
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
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller shantelleG. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.