MD Real Estate PSI National Exam 2 QUESTIONS & ANSWERS!!
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Course
Maryland Real estate
Institution
Maryland Real Estate
A person with impaired mobility was renting a unit in an apartment complex. Half the units had been assigned parking spaces near the door; the other half had not. The owner
may charge extra money to the handicapped person for providing the parking space near the door.
must take a vote of all tena...
MD Real Estate PSI National Exam 2
QUESTIONS & ANSWERS!!
A person with impaired mobility was renting a unit in an apartment complex. Half the units had been
assigned parking spaces near the door; the other half had not. The owner
may charge extra money to the handicapped person for providing the parking space near the door.
must take a vote of all tenants to see if they want to allow the handicapped person a parking space.
must give a parking space near the door to the handicapped person, if one is available and a need is
demonstrated.
does not have to offer the handicapped person the parking spot near the door. - ANSWER must give a
parking space near the door to the handicapped person, if one is available and a need is demonstrated.
A broker is discussing a new listing with a prospective Mexican-American buyer. The buyer wants to
inspect the property immediately, but the owner of the property has instructed the broker, in writing,
not to show the house during the owner's three-week absence. The buyer insists on viewing the
property. The broker should
show the property to avoid a violation of the Federal Fair Housing Act.
request the Real Estate Commission arbitrate the problem.
inform the buyer of the seller's instructions.
notify the nearest HUD office. - ANSWER inform the buyer of the seller's instructions.
All real estate sales must be reported to the Internal Revenue Service after closing. The sale must be
reported on
a W-2.
a Form-2555.
a Form-1099.
a Form-5305. - ANSWER a Form-1099.
, In most states, by paying the debt after a foreclosure sale, the mortgagor has the right to regain the
property. What is this right called?
Equitable right of redemption
Right of acceptance
Vendee's right of redemption
Statutory right of redemption - ANSWER Statutory right of redemption because it is legally mandated by
law
A person who has complete control over a parcel of real estate is said to own a
leasehold estate.
fee simple estate.
life estate.
defeasible fee estate. - ANSWER Fee simple estates have the entire bundle of rights for the property so
they have complete control.
The seller under a land contract is called
the grantor.
the grantee.
the vendor.
the vendee. - ANSWER the vendor.
Which of the following is/are considered to be personal property?
Wood-burning fireplace
Furnace
Bathtubs
Table Lamps - ANSWER Table Lamps
All of the following are physical characteristics of land EXCEPT
indestructibility.
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