Maryland Real Estate Exam Questions and Answers 100% Correct

Maryland Real Estate Exam Questions and Answers 100% Correct Nancy, a broker in Annapolis, is going over the listing agreement with her new client, Josie, who asks, "What if I need to cancel the agreement early?" What should Nancy tell her? 1. "I'm always flexible. If we need to, we'll add an amendment to the agreement granting you permission to cancel early." 2. "Listing agreements in Maryland must be for a definite amount of time. If it would make you more comfortable, we can set the expiration date for one month, then have it automatically renew unless you decide to cancel." 3. "There's a provision right here that gives either of us permission to cancel the agreement early." 4. "You may cancel early. But per Maryland law, since listing agreements must have a definite termination date, if you do cancel I'll have to charge you a nominal cancellation fee." 3. "There's a provision right here that gives either of us permission to cancel the agreement early." Sheila filed a discrimination complaint against her landlord. She's worried that when he finds out about her complaint, he's going to evict her. However, he knows not to evict her just because she filed a complaint. Why? 1. He must wait to evict her until after the complaint has been investigated. 2. Landlords must wait 180 days to evict parties who file a discrimination complaint. 3. Parties who file a discrimination complaint may not be evicted for any reason. 4. Retaliation against parties who file a discrimination complaint is illegal. 4. Retaliation against parties who file a discrimination complaint is illegal. For sale signs on ground rent properties that show the price of the property must also state which of the following? 1. Annual ground rent 2. Annual ground rent plus the full cost of capitalization 3. Price for which the land could be purchased 4. The market value of the property 2. Annual ground rent plus the full cost of capitalization Raul, a broker licensed in Maryland, has just signed on to manage a landlord's 15-unit apartment building. Which of the following tasks may Raul NOT perform without the owner's express knowledge and consent? 1. Accept a rebate from the laundry machine company. 2. Collect each tenant's rent on the first of the month. 3. Maintain the building's landscaping. 4. Return security deposits to tenants after they move out. 1. Accept a rebate from the laundry machine company. In Maryland, transaction records may be stored electronically as long as ______. 1. Licensees are able to provide a paper copy upon commission request 2. The electronic storage system has unlimited capacity 3. The storage system used is on the commission's approved systems list 4. They're stored for at least six years 1. Licensees are able to provide a paper copy upon commission request Jim's had one heck of a time getting his latest listing sold. His seller client nitpicked every single item that the buyers asked her to repair after the home inspection. She was about to let the deal fall through over it until Jim offered to rebate 0.5% of his commission back to the seller. Does Maryland license law permit Jim to do this? 1. No. Licensees aren't permitted to pay (or rebate) compensation to unlicensed individuals. 2. No. The commission rate written into the listing agreement is binding. 3. Yes, as long as he documents the commission reduction in writing and discloses it to all parties. 4. Yes, but only if the listing agreement is also updated to reflect the new commission rate. 3. Yes, as long as he documents the commission reduction in writing and discloses it to all parties. After 15 years of building her business as a salesperson, Estrella