Md real estate - Study guides, Class notes & Summaries

MD REAL ESTATE LICENSE EXAM WITH COMPLETE SOLUTIONS. ACTUAL 24/25 EXAM UPDATE. The buyer must work exclusively with the broker during the term of the agreement. -Correct Answer: Which of the following is one of the buyer's responsibilities as stated in the Maryland exclusive buyer agency agreement? -The buyer must work exclusively with the broker during the term of the agreement. -The buyer has seven days to consent to being represented by a designated or dual agency before termin...

The buyer must work exclusively with the broker during the term of the agreement. - Which of the following is one of the buyer's responsibilities as stated in the Maryland exclusive buyer agency agreement? -The buyer must work exclusively with the broker during the term of the agreement. -The buyer has seven days to consent to being represented by a designated or dual agency before terminating the agreement. -The buyer must attend three open house events on their own. -The buyer must m...

MD Real Estate Exam Questions with Correct Answers 2024.

_______ can be defined as everything that's not real property. - Personal property _________ occurs when the parties meet all terms of the contract. - Performance of contract A buyer with a 15-year, $250,000 loan at a 5.5% interest rate has a monthly principal and interest payment totaling $2,042.71. If $1,145.83 is interest, how much is applied to principal? - $896.88 A deed must be ______________ before it can be recorded. - Acknowledged A defect on a title that can be monetary or physic...

Most real estate transactions that involve mortgages are required by law to use - some specific forms for disclosure regarding the loan Loan Estimate and Closing Disclosure Forms help consumers determine - 1) Whether they can afford the loan 2) The relative cost of different loan offers, including the loan cost over time Lenders have been required to provide this type of disclosure for many years under the - the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act ...

MD Real Estate Exam CE Shop Results fully solved passed

Inactive Status - ANSWER associate real estate brokers and real estate salesperons that are no longer affiliated with licensed real estate brokers and their license certificates and pocket cards are returned to the Commission. An inactive license - ANSWER expires 3 years from the date it was placed on inactive status Commission pays any penalty collected to - ANSWER General Fund of the State

home equity loan - Answer A loan under which a property owner uses the property as collateral and can then draw funds up to a prearranged amount against the property. Also called a home equity line of credit, or HELOC. home inspection - Answer A thorough visual survey of a property's structure, systems, and site conditions conducted by a professional. Home Mortgage Disclosure Act - Answer A federal law, implemented at its creation by Regulation C of the Federal Reserve, that requires lend...

MD Real Estate License Exam With Correct Questions And Answers 2024

order to qualify as one of the four appointed consumer members of the Maryland Real Estate Commission, how many years of experience must you have as a real estate licensee? A) 10 B) Five C) Seven D) Zero - ANSWER D) Zero Artie, a real estate licensee, is a convicted felon, and although he served his time, he has had some administrative sanctions that call into question his trustworthiness to serve the public. What is the maximum sanction the MREC may impose? A) License revocation B)...