Agency (alternative)
Under Maryland agency law, an agent's duty of 'accounting' requires the agent to:
AAudit the principal's finances annually
BKeep and account for all money and property entrusted to the agent✓ Correct
CFile tax returns on the principal's behalf
DMaintain a CPA license
Explanation
The duty of accounting requires the agent to carefully safeguard, track, and properly account for all money and property entrusted to them by the principal.
Related Maryland Agency (alternative) Questions
- In Maryland, a designated agent owes fiduciary duties to:
- A Maryland sub-agent of the seller discovers during a showing that the buyer is planning to demolish the home and build a larger one. The sub-agent should:
- A Maryland listing agent who knows the septic system is at or near capacity should:
- A Maryland listing agent who learns the seller's minimum acceptable price must:
- In Maryland, which form of agency creates the highest potential for conflict of interest?
- In Maryland, a buyer who tours a model home in a new subdivision is typically being assisted by:
- Under Maryland law, a seller's agent who receives information suggesting the buyer has inspection concerns about the roof should:
- A Maryland agent's duty of confidentiality to a client survives:
Practice More Maryland Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maryland Quiz →