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1. Which of the following is a material fact that must be disclosed to prospective buyers?
A) A previous owner had HIV.
B) A previous homeowner had Ebola.
C) A house has had more than ten owners.
D) A lead-based paint disclosure must be included since the home was built in 1957.
2. 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 to make sure the buyers are serious about purchasing.
B) She wants the buyers to meet her office mate.
C) She wants to sell the buyers on a local neighborhood that she likes.
D) She wants to run a credit check on the buyers.
3. Where can you find out what's not covered by a title insurance policy?
A) The lender's attorney
B) The title insurance policy's schedule of exceptions
C) The county clerk's office
D) The internet
4. Which statement best represents how dual agency is impacted by teams in Maryland?
A) The dual agent may be part of the same team as the ICAs.
B) The broker may designate ICAs from within a team, with the broker or office manager serving as the dual agent.
C) The broker may serve as an ICA along with a team member.
D) Dual agency isn't allowed within real estate teams.
5. Cameron had a listing agreement with a client named Ben. Ben got mad at Cameron and said he was terminating the agreement. Can Ben do this?
A) Yes, it's a client's prerogative.
B) Yes, but certain terms of the agreement may still be binding upon Ben.
C) Yes, with 30 days' notice.
D) Only if the property is valued at more than $250,000.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: A | Question # 3 Answer: B | Question # 4 Answer: B | Question # 5 Answer: B |
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