Maryland Brokerage Relationships & Disclosure

Question 1

A real estate licensee must do all of the following EXCEPT

Answer 1

generate a comprehensive appraisal on the property.

Question 2

An intra-company agent (ICA) is designated by a broker in

Answer 2

Dual agency transactions

Question 3

A real estate licensee must do all of the following EXCEPT

Answer 3

Advise the client regarding the legal implications of using comparable sales in pricing.

Question 4

A brokerage agreement must

Answer 4

specify whether the broker is authorized to cooperate with other brokers.

Question 5

Which of the following statements is TRUE regarding dual agency?

Answer 5

At least 3 real estate licensees are needed for a firm to engage in dual agency.

Question 6

A real estate licensee may not disclose a client’s confidential information unless the

Answer 6

client consents in writing.

Question 7

Which of the following does NOT terminate a brokerage relationship?

Answer 7

When an offer or counteroffer is accepted

Question 8

The parties to a brokerage agreement are

Answer 8

the broker and the client.

Question 9

The “Understanding Whom Real Estate Agents Represent” disclosure must include all of the following EXCEPT

Answer 9

The duty of a buyer’s agent to explain the tax ramifications of a transaction.

Question 10

The “Understanding Whom Real Estate Agents Represent” disclosure

Answer 10

Does not apply to a lease of 125 days or less.