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1. Homeowners can take several actions related to pest infestations, but which of the following actions should be left to licensed pest management professionals?
A) Installing a vapor barrier
B) Applying pesticides
C) Removing moisture from the home
D) Looking for signs of an infestation
2. Which of the following is used to protect the buyer from title defects after closing?
A) Attorney's opinion of title
B) Abstract of title
C) Chain of title
D) Buyer title insurance policy
3. Violators of the Sherman Antitrust Act may be subject to fines. For what amount may corporations and individuals be liable?
A) Up to $100,000 for corporations and $1,000 for individuals
B) Up to $100 million for corporations and $1 million for individuals
C) Up to $1 million for corporations and $100,000 for individuals
D) Up to $10 million for corporations and $1 million for individuals
4. 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, with 30 days' notice.
C) Yes, but certain terms of the agreement may still be binding upon Ben.
D) Only if the property is valued at more than $250,000.
5. According to the Maryland Code of Ethics, which statement most accurately describes a licensee's responsibility related to written offers on their listings?
A) All formal written offers received by the licensee must be presented to the owner, even after the seller accepts an offer.
B) A licensee is only required to present formal written offers that are equal to or more than the listing price.
C) All formal written offers received by the licensee must be presented to the owner until the seller accepts an offer.
D) A licensee is only required to present formal written offers within a certain range of the listing price of the property.
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: D | Question # 3 Answer: B | Question # 4 Answer: C | Question # 5 Answer: C |
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