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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: National Portion | 73% | - Contracts
|
| Topic 2: Maryland State Portion | 27% | - Duties and Powers of the Real Estate Commission
|
1. A licensee wants to meet with her potential buyer clients face-to-face in her office. What's her reason for doing this?
A) She wants the buyers to meet her office mate.
B) She wants to sell the buyers on a local neighborhood that she likes.
C) She wants to make sure the buyers are serious about purchasing.
D) She wants to run a credit check on the buyers.
2. When must the consent for dual agency be reaffirmed by the parties to the transaction?
A) Prior to the inspection
B) After the buyer has deposited earnest money
C) Once the contract has been signed by all parties
D) Prior to the parties entering into the contract for the transaction
3. Which of the following is an example of positive misrepresentation?
A) An agent made an unintentional error that resulted in a positive outcome.
B) An agent knowingly made a false statement that caused harm.
C) It results in a positive outcome.
D) An inadvertent error occurred.
4. What, when signed by all parties to a sales contract, changes the original terms of the contract?
A) Amendment
B) Addendum
C) Annexation
D) Appurtenance
5. What items go into the seller's credit column and the buyer's debit column when calculating prorations?
A) Unpaid property taxes
B) Home inspection fees
C) Prepaid property taxes
D) The buyer's loan amount
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: D | Question # 3 Answer: B | Question # 4 Answer: A | Question # 5 Answer: C |
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