Maryland State Exam Life Insurance License, Maryland State Health and Life Insurance Exam 2026 Questions and Answers

Maryland State Exam Life Insurance License, Maryland State Health and Life Insurance Exam 2026 Questions and Answers According to Maryland disclosure guidelines, upon which of the following events is it NOT appropriate to give the buyer the opportunity to review the seller's disclosure/disclaimer statement? The day of the home inspection The day of the home inspection When the buyer expresses interest in purchasing the property When the buyer makes an offer When the property goes on the market Nancy, a broker in Annapolis, is going over the listing agreement with her new client, Josie, who asks, "What if I need to cancel the agreement early?" What should Nancy tell her? "There's a provision right here that gives either of us permission to cancel the agreement early." "I'm always flexible. If we need to, we'll add an amendment to the agreement granting you permission to cancel early." "Listing agreements in Maryland must be for a definite amount of time. If it would make you more comfortable, we can set the expiration date for one month, then have it automatically renew unless you decide to cancel." "There's a provision right here that gives either of us permission to cancel the agreement early." "You may cancel early. But per Maryland law, since listing agreements must have a definite termination date, if you do cancel I'll have to charge you a nominal cancellation fee." Fatima, a salesperson, is hosting an open house in Annapolis for her seller client Ramona. Two interested buyers come in, and after Fatima gives them a tour they tell her they'd like her to represent them in making an offer. Since her seller client has already consented to dual agency, she gladly offers to represent the buyers and helps them write an offer right there at the open house, making sure that they also sign a Consent for Dual Agency form. What's wrong with this scenario? Fatima isn't permitted to act as a dual agent. Only brokers may act as dual agents. For this scenario to be legal, Fatima would represent one side of the transaction as an intra-company agent, and her broker would appoint another licensee in Fatima's brokerage to represent the other party. Fatima doesn't need them to sign the Consent for Dual Agency form since her seller client already has. Fatima isn't permitted to act as a dual agent. Fatima must wait until the open house is finished to have her new clients sign the Consent for Dual Agency form. Fatima needs to reaffirm the seller's dual agency consent before she can help the buyers make their offer. evon and Courtney both consented to dual agency when they signed their listing agreement with Chad from Crab Shack Homes, the Eastern Shore's premiere vacation home brokerage. But when another licensee from Crab Shack presented Chad with an offer, the couple got cold claws and decided they didn't want the potential conflict of interest with Devon and Courtney may terminate their agency relationship with Crab Shack and find another broker. dual agency and withdrew their consent. Which of the following is NOT a potential outcome? Crab Shack may terminate the listing agreement.