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Maryland Law Final Exam Questions And Answers With Verified Solutions 100% Correct!!!
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Maryland Law Final Exam Questions And Answers With Verified Solutions 100% Correct!!!
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Maryland Law Final Exam QuestionsAnd Answers With Verified Solutions
100% Correct!!!
Which of the following is NOT a requirement in obtaining a real estate license?
a. affiliate with a broker
b. pass state exam
c. 15 hours of continuing education
d. complete required 60 hour course - ANSWER✔✔ c. 15 hours of continuing
education
Al, a broker, listed his friend Bills home. Bill just took a job in another city and
needed to sell quickly. In order to help Bill, Al told Jay about the home, Bill's new
job and his eagerness to move. Jay offered Bill $10,000 less than Bill was asking
because of this Al may have violated:
a. code of ethics
b. license law
c. fiduciary responsibilities
d. all of the above - ANSWER✔✔ d. all of the above
A complaint is made to the Real Estate Commission about a particular fraudulent
act by a licensee. The licensee told the buyers that the woods behind their lot
would never be built on, when in fact, a major new highway was to be built there
in the next two year. The Commission determined there were ground for
disciplinary action. What is the next step to be taken by the Commission:
a. the commission may immediately revoke the license of the licensee
b. a hearing board will hold a hearing on the matter and file its recommendations
with the commission
, c. the licensee in question will be fined up to $2,000 with an automatic revocation
of his/her license
d. the licensee may file a stay of decision before the hearing - ANSWER✔✔ b. a
hearing board will hold a hearing on the matter and file it's recommendations with
the commission
Mary, a salesperson for XYZ Realty is the listing agent on a property. Sally,
another salesperson in the same company represents a buyer under a Buyer Broker
agreement. The buyer wants to purchase the home Mary listed. Both buyer and
seller have agreed in writing to dual agency. How does the Maryland Law apply?
a. Mary and Sally are now Intra-Company agents, fully able to represent their
respective clients and the broker of XYZ Realty becomes the dual agent.
b. The broker becomes the dual agent, but must designate two different salespeople
to work with the buyer and seller
c. the agency law prohibits dual agency
d. none of the above - ANSWER✔✔ a. Mary and Sally are now Intra-Company
agents, fully
able to represent their respective clients and the broker of XYZ Realty becomes the
dual agent.
Deeds and mortgages may be recorded in each county with the:
a. office of planning and zoning
b. Torrens system
c. tax office
d. circuit court clerk of each county - ANSWER✔✔ d. circuit court clerk of each
county
A person may acquire a prescriptive easement over another's land in Maryland:
a. after 10 years continuous use
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