Maryland Real Estate Salesperson Examination Questions and Answers
Question 61
Which of the following is one of your duties as a listing agent?
Options:
A.
Disclose material facts to the seller only.
B.
Hold confidential all facts from the buyer, even material facts.
C.
Promote your client's interests throughout the entire transaction.
D.
Secure a profit for your client.
Answer:
C
Explanation:
Under Maryland Agency Law (Business Occupations and Professions Article, Title 17, Subtitle 5), a listing agent represents the seller and owes the seller the fiduciary duties of loyalty, obedience, disclosure, confidentiality, reasonable care, and accounting.
A primary fiduciary obligation is to promote the interests of the client at all times during the transaction, as outlined in the Maryland Real Estate Commission’s Agency Disclosure materials.
While the listing agent must disclose all material facts to all parties (facts that affect value or desirability), the agent’s duty of loyalty and advocacy is owed to the seller client.
Therefore, the correct answer is that a listing agent must promote the client’s interests throughout the entire transaction.
[Reference:, Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course – “Real Estate Brokerage and the Law of Agency” Module, Md. Business Occupations and Professions Article, Title 17, §17-532 – Duties of a Licensee Representing a Seller or Landlord., , , ]
Question 62
A valid deed must contain all of the essential elements, plus which of the following?
Options:
A.
It must be approved by the local judge.
B.
It must be in nuncupative form.
C.
It must be in writing.
D.
It must be sent to all parties via registered mail.
Answer:
C
Explanation:
Under the Statute of Frauds, all conveyances of real property must be in writing to be enforceable. A valid Maryland deed therefore includes: a competent grantor and identifiable grantee, a granting clause, an adequate legal description, consideration, signature of the grantor, delivery, and acceptance — and it must be in writing. Oral (nuncupative) or judge-approved deeds are not recognized.
[Reference:Maryland 60-Hour Principles and Practices of Real Estate – “Transfer of Title” module; Maryland Real Property Article § 4-101 through § 4-107 (Recording and Execution of Deeds)., , , ]
