MD Real Estate Asssessment Exam Questions
with Complete Solutions
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Terms in this set (75)
According to Article 7 of A licensee shall not accept compensation from more
the NAR Code of Ethics, than one party to a transaction without the full
which of these statements knowledge and consent of all parties.
is most accurate when
accepting compensation
from parties to a
transaction?
Alice listed a three- The agency agreement is terminated if the property is
bedroom home for her destroyed.
client, but before she finds
a buyer, the home burns
to the ground. What
happens to the agency
agreement that Alice has
with her client?
,Alice owned a double lot Conform to the deed restriction.
on the waterfront. She
sold the lot to Ronesha
and included a deed
restriction prohibiting
construction of any
building taller than one
story. Ronesha wants a
three-story house. What
should she do?
Ashton, an appraiser, is Reconciliation- through this process the most weight
estimating value using the can be given to one or two comparables or equal
sales comparison weight may be given to all.
approach. He applies
more weight to two
comparables over several
others he used. What
process is he utilizing?
Assuming that dual Tom is holding an open house for his client. Ruby, a
agency is legal where buyer, says she wants to make an offer. She details her
these scenarios occur and situation; Tom waits until she finishes and then
that the licensees' suggests that she offer a non-refundable earnest
brokerages permit it, money deposit to strengthen her offer.
which of these situations
demonstrates illegal dual
agency?
Bernie represented Oscar Yes, because "exclusive right to sell" means Bernie
in the sale of Oscar's gets paid no matter who finds the buyer.
home. They signed an
exclusive right-to sell-
listing agreement. If Oscar
were able to find his own
buyer, would he owe
Bernie a commission?
, Blake is allowed to use his Use variance
property in a way that's
prohibited under current
zoning ordinances,
because those ordinances
would cause undue
hardship for him. What
gives him this permission?
Bobbi received a notice Employee Time Cards
from the Maryland Real
Estate Commission that
she was being
investigated for failure to
properly supervise her
affiliated licensees. At her
hearing next month, she
needs to present evidence
to the contrary. Which of
the following is NOT
considered evidence of
reasonable and adequate
supervision, as defined by
the commission?
Burt owns a development Cost approach
company that specializes
in constructing new,
energy-efficient houses.
The best approach for an
appraiser to use in the
appraisal of Burt's newly
built homes is the ______.
with Complete Solutions
Save
Terms in this set (75)
According to Article 7 of A licensee shall not accept compensation from more
the NAR Code of Ethics, than one party to a transaction without the full
which of these statements knowledge and consent of all parties.
is most accurate when
accepting compensation
from parties to a
transaction?
Alice listed a three- The agency agreement is terminated if the property is
bedroom home for her destroyed.
client, but before she finds
a buyer, the home burns
to the ground. What
happens to the agency
agreement that Alice has
with her client?
,Alice owned a double lot Conform to the deed restriction.
on the waterfront. She
sold the lot to Ronesha
and included a deed
restriction prohibiting
construction of any
building taller than one
story. Ronesha wants a
three-story house. What
should she do?
Ashton, an appraiser, is Reconciliation- through this process the most weight
estimating value using the can be given to one or two comparables or equal
sales comparison weight may be given to all.
approach. He applies
more weight to two
comparables over several
others he used. What
process is he utilizing?
Assuming that dual Tom is holding an open house for his client. Ruby, a
agency is legal where buyer, says she wants to make an offer. She details her
these scenarios occur and situation; Tom waits until she finishes and then
that the licensees' suggests that she offer a non-refundable earnest
brokerages permit it, money deposit to strengthen her offer.
which of these situations
demonstrates illegal dual
agency?
Bernie represented Oscar Yes, because "exclusive right to sell" means Bernie
in the sale of Oscar's gets paid no matter who finds the buyer.
home. They signed an
exclusive right-to sell-
listing agreement. If Oscar
were able to find his own
buyer, would he owe
Bernie a commission?
, Blake is allowed to use his Use variance
property in a way that's
prohibited under current
zoning ordinances,
because those ordinances
would cause undue
hardship for him. What
gives him this permission?
Bobbi received a notice Employee Time Cards
from the Maryland Real
Estate Commission that
she was being
investigated for failure to
properly supervise her
affiliated licensees. At her
hearing next month, she
needs to present evidence
to the contrary. Which of
the following is NOT
considered evidence of
reasonable and adequate
supervision, as defined by
the commission?
Burt owns a development Cost approach
company that specializes
in constructing new,
energy-efficient houses.
The best approach for an
appraiser to use in the
appraisal of Burt's newly
built homes is the ______.
