Maryland Real Estate Practice And Law 13th Ed. Ch 3
Under what circumstances may salespersons use their own names and phone numbers and advertising listed property? 1. When the designated name of their firm is clearly and meaningfully shown, as well as the firm's phone number. 2. When their office manager's name is shown in letters at least half the size of the salespersons. 3. When different colors are used for the brokers and sales person's name. 4. When the broker gives permission
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What must be included in advertising by a broker? 1. The designated name of that broker as registered with the commission. 2. The name of the brokers realtor board or association or realist organization. 3. The legal name of the licensed real estate broker. 4. The name of the licensee who listed the property
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Which of the following is a requirement for team advertising? 1. The name of the team must be directly connected with the full name of the brokerage firm of which it is a part 2. the name of the team must be the same size as or smaller than the name of the firm of which it is a part 3. the address of the office out of which the team works must be shown 4. the phone number of the team leader must be shown
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Which of the following is true of ads in which licensees advertise real property which they have listed? 1. The name of the salesperson need not be included in the advertisement, but the designated name of the broker must be shown. 2. Only the brokers name is permitted in advertisements. 3. The price of the property must be included in all advertisements. 4. Members of multiple-listing services may advertise any of the services listings
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Which team name below would be permissible under the brokers act? 1. The ABC service team 2. the ABC realty service team 3. the ABC real estate expert team 4. ABC service associates
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In Maryland, who is primarily responsible for the real estate brokerage services provided through a Corporation? 1. The president of the corporation. 2. The licensed real estate broker of the firm. 3. The chairperson of the corporate board. 4. The majority shareholder of the corporation
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What is required by law on any outdoor sign or advertisement displayed on the property for sale subject to ground rent? 1. If the sign shows the price, it must also show the annual ground rent but need not show any other details until inquiry is made by a prospective purchaser 2. If the sign shows the price, it must also show ground rent and cost of capitalization and lettering no smaller than the lettering used for the price 3. It need show only the sale price 4. It needs show only sales price and the phrase "plus GR"
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When there are no instructions to the contrary from their owner and beneficial owner, what does the brokers act require be done with earnest money deposits? 1. They may be comingled with the broker's funds. 2. They must be deposited in an insured and approved financial institution in Maryland. 3. They are to be placed in an interest-bearing account. 4. They may be withdrawn at any time prior to settlement, as long as a licensees signature appears on the escrow check
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Which of the following is not required in advertising for a team? 1. The advertisement must contain the name of at least one licensee on the team. 2. The advertisement must contain the name of the team leader. 3. The advertisement must follow branch office and companywide requirements. 4. The advertisement must include the phone number of the office out of which the team works
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Which of the following may unlicensed persons working in a brokerage firm not do? 1. Compute commission checks. 2. Submit listings and changes to a multiple listing service. 3. Conduct an open house. 4. Schedule appointments for a licensee to show listed property
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Which statement about a team leader is false? 1. The team leader is chosen by the members of the team. 2. The team leader is responsible for reasonable and adequate supervision of the team. 3. The team leader can appoint intracompany agents when dual agency occurs involving two team members. 4. The team leader can be the branch manager
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Which of the following is true concerning how a check drawn on a brokerage firms escrow account must be signed? 1. It must be signed by the associate broker of the firm using his or her designated name. 2. It must be signed by at least two licensees in the firm. 3. It must be cosigned by an appointed nonlicensed see if signed by a non-designated licensee. 4. It does not necessarily need a second signature if signed by the broker of the firm
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Which of the following satisfies the requirement that a broker maintain an office? 1. a telephone answering service. 2. A PO Box. 3. a mechanical answer machine. 4. A definite place of business
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Which of the following statements about teams is false? 1. ateam must have at least two licensee members. 2. Members of the team regularly work together. 3. The team identifies itself to the public with some name. 4. A salesperson cannot be a team leader
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Who may operate a real estate brokerage firm? 1. a real estate salesperson. 2. An associate broker. 3. Any person holding a valid real estate license issued by the Maryland real estate commission. 4. A licensed real estate broker
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