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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Maryland State Portion | 30% | - Duties and Powers of the Real Estate Commission
|
| Topic 2: National Portion | 80% | - Real Estate Calculations
|
1. When a client understands what dual agency is and agrees in writing to allow a firm to act as a dual agent for them in a real estate transaction, this is known as ________.
A) Representation by proxy
B) Informed consent
C) Double dipping
D) Mutual agreement
2. A valid deed must contain all of the essential elements, plus which of the following?
A) It must be sent to all parties via registered mail.
B) It must be in nuncupative form.
C) It must be approved by the local judge.
D) It must be in writing.
3. When preparing the sales contract, when is it acceptable for a licensee who is not an attorney to offer legal advice to the client?
A) When discussing the amount of earnest money to place as a down payment
B) When covering the options for terms and contingencies
C) When determining the amount of the purchase offer
D) Never
4. Octogenarians Gertie and Frank both have advanced Alzheimer's disease and met in Sunset Living, a skilled nursing center for people with advanced Alzheimer's disease, where they're both residents. They fell in love and get hitched, signing a marriage certificate. This is an example of a _____ contract.
A) An invalid
B) An executory
C) An implied
D) A valid
5. [Listing Agreements and Buyer Representation]Properly pricing a property that is entering the market will
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: D | Question # 3 Answer: D | Question # 4 Answer: A | Question # 5 Answer: Only visible for members |
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