MARYLAND REAL ESTATE REAL ACTUAL F INAL

MARYLAND REAL ESTATE REAL ACTUAL F INAL

EXAM W ITH 120 EXAM QUESTIONS AND

CORRECT VERIFIED ANSWERS | ALREADY GRADED

A+ | GUARANTEED SUCCESS | MARYLAND PSI REAL

ESTATE MIDTERM LATEST VERSION [NEWEST!!]

The Maryland Real Estate Commission has how many members? - ANSWER- 5 licensed members and 4 unlicensed members

What action should a licensee take after receiving an offer on a property under contract? - ANSWER- Present the offer in a timely manner

Which would require an appraisal rather than a CMA? - ANSWER- an estate settlement

Records of trust money must be - ANSWER- Kept in a secure area of the broker's office

Referral fees - ANSWER- may not be paid to unlicensed persons

A licensee must disclose knowledge of - ANSWER- Hidden defects

A broker providing evidence of reasonable and adequate supervision would produce evidence of - ANSWER- Review of all advertisements placed by affiliate 1 / 2

Prior to changing the location of an office or escrow account, a broker must give the Commission - ANSWER- 7 days notice

Which type of agent represents only the seller? - ANSWER- Cooperating Agent

The Brokers Act requires that the form Understanding Whom Agents Represent be presented no later than - ANSWER- The first scheduled face to face meeting

Unless a property listed by an agent or the agent's broker, the agent is assumed to be acting on the behalf of the - ANSWER- Buyer

Which practice is legal in Maryland - ANSWER- Ground rents

Who has the right to choose the buyer's settlement attorney, escrow agent, and title company - ANSWER- Buyer

Prior to a hearing, a licensee being investigated gets at least how many days notice? - ANSWER- 10 days notice

What is the maximum amount that can be recovered from the Guaranty Fund? -

ANSWER- $50,000

After a payment is made from the Guaranty Fund, what action is taken against the licensee causing the claim? - ANSWER- Immediate license suspension

An unlicensed employee may not - ANSWER- Discuss a contract

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