Maine Real Estate License Practice Exam PART 1 Questions & Answers 100% Verified!!Maine Real Estate License Practice Exam PART 1 Questions & Answers 100% Verified!!Maine Real Estate License Practice Exam PART 1 Questions & Answers 100% Verified!!Maine Real Estate License Practice Exam PART 1 Questi...
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Fixture - ANSWERAn object that has been attached to land so as to become real estate. An article of personal property which has been installed in or attached to land or a building thereon, in such a manner that it is now considered to be a part of the real estate. Improvements - ANSWERBeneficial...
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Add to cartFixture - ANSWERAn object that has been attached to land so as to become real estate. An article of personal property which has been installed in or attached to land or a building thereon, in such a manner that it is now considered to be a part of the real estate. Improvements - ANSWERBeneficial...
What is a branch office? - ANSWERA location where business is regularly conducted or that is advertised as where the public may contact the agency. How old must you be to apply for a real estate license in Maine? - ANSWER18 What is the maximum fine that LUPC can impose for a violation? - ANSWE...
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Add to cartWhat is a branch office? - ANSWERA location where business is regularly conducted or that is advertised as where the public may contact the agency. How old must you be to apply for a real estate license in Maine? - ANSWER18 What is the maximum fine that LUPC can impose for a violation? - ANSWE...
Section 1 - Maine Real Estate Commission (2) The primary function of the Maine Real Estate Commission is? A. Enforce the rules and regulations by holding hearings on complaints B. Issue real estate licenses to qualified candidates C.. Promote public confidence in the real estate industry D. O...
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Add to cartSection 1 - Maine Real Estate Commission (2) The primary function of the Maine Real Estate Commission is? A. Enforce the rules and regulations by holding hearings on complaints B. Issue real estate licenses to qualified candidates C.. Promote public confidence in the real estate industry D. O...
For what minimum period of time must a real estate brokerage agency retain copies of rejected offers and counteroffers? A. 1 year B. 2 years C. 3 years D. 5 years - ANSWERNo, rejected offers and counteroffers must be retained for 1 year. A designated broker in Maine is: A. Responsibl...
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Add to cartFor what minimum period of time must a real estate brokerage agency retain copies of rejected offers and counteroffers? A. 1 year B. 2 years C. 3 years D. 5 years - ANSWERNo, rejected offers and counteroffers must be retained for 1 year. A designated broker in Maine is: A. Responsibl...
A client must be informed as to the real estate brokerage agency's appointed agency policy and: - ANSWERGive written consent to that policy in advance of entering into a brokerage agreement. A disclosed dual agent may disclose any information to one party that the licensee gains from the other p...
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Add to cartA client must be informed as to the real estate brokerage agency's appointed agency policy and: - ANSWERGive written consent to that policy in advance of entering into a brokerage agreement. A disclosed dual agent may disclose any information to one party that the licensee gains from the other p...
In Maine, a person without a real estate license may A. Receive a referral fee. B. Receive compensation for finding a buyer for a piece of property .C. Sell a relative's house and receive a fee not to exceed 5%. D. Call bids at a real estate auction. - ANSWERcall bids at a real estate auction ...
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Add to cartIn Maine, a person without a real estate license may A. Receive a referral fee. B. Receive compensation for finding a buyer for a piece of property .C. Sell a relative's house and receive a fee not to exceed 5%. D. Call bids at a real estate auction. - ANSWERcall bids at a real estate auction ...
In Maine, a person without a real estate license may A. Receive a referral fee. B. Receive compensation for finding a buyer for a piece of property .C. Sell a relative's house and receive a fee not to exceed 5%. D. Call bids at a real estate auction. - ANSWERcall bids at a real estate auction ...
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Add to cartIn Maine, a person without a real estate license may A. Receive a referral fee. B. Receive compensation for finding a buyer for a piece of property .C. Sell a relative's house and receive a fee not to exceed 5%. D. Call bids at a real estate auction. - ANSWERcall bids at a real estate auction ...
You are a real estate licensee in Maine. Your friend Andrew, who is not a real estate licensee, asks if you will pay him $250 for every sales lead he sends you. What do you tell him? - ANSWERI can't pay referral fees to someone who is not a real estate licensee. Elwood holds a Maine auctioneer l...
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Add to cartYou are a real estate licensee in Maine. Your friend Andrew, who is not a real estate licensee, asks if you will pay him $250 for every sales lead he sends you. What do you tell him? - ANSWERI can't pay referral fees to someone who is not a real estate licensee. Elwood holds a Maine auctioneer l...
An adequate legal description of real estate is one: - ANSWERby which a reasonable person can determine what property is described - the legal description is legally "adequate" if a reasonable person could identify the property based on the description. Ownership of real estate includes: a.) R...
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Add to cartAn adequate legal description of real estate is one: - ANSWERby which a reasonable person can determine what property is described - the legal description is legally "adequate" if a reasonable person could identify the property based on the description. Ownership of real estate includes: a.) R...
All of the following are real property EXCEPT - ANSWERA Portable Basketball hoop A metes and bounds description of real property relies on - ANSWERA point of beginning, measurement of distances, and directions on a compass Fee simple ownership describes - ANSWERCurrent ownership A life esta...
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Add to cartAll of the following are real property EXCEPT - ANSWERA Portable Basketball hoop A metes and bounds description of real property relies on - ANSWERA point of beginning, measurement of distances, and directions on a compass Fee simple ownership describes - ANSWERCurrent ownership A life esta...
Section 1 - Maine Real Estate Commission (2) The primary function of the Maine Real Estate Commission is? A. Enforce the rules and regulations by holding hearings on complaints B. Issue real estate licenses to qualified candidates C.. Promote public confidence in the real estate industry D. O...
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Add to cartSection 1 - Maine Real Estate Commission (2) The primary function of the Maine Real Estate Commission is? A. Enforce the rules and regulations by holding hearings on complaints B. Issue real estate licenses to qualified candidates C.. Promote public confidence in the real estate industry D. O...
True or False: With appointed agency, one affiliated licensee represents the client to the exclusion of all other affiliated licensees of the brokerage agency; more than one may be appointed if there is a team or a licensee is covering for vacation. A. TrueB. False - ANSWERA. True When must a cl...
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Add to cartTrue or False: With appointed agency, one affiliated licensee represents the client to the exclusion of all other affiliated licensees of the brokerage agency; more than one may be appointed if there is a team or a licensee is covering for vacation. A. TrueB. False - ANSWERA. True When must a cl...
Most land uses are subject to regulation of Maine's Mandatory Shoreland Zoning Act when they are within how many feet of a river, wetland, lake, or ocean? - ANSWER250 feet Most land uses are subject to regulation of Maine's Mandatory Shoreland Zoning Act when they are within how many feet of ce...
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Add to cartMost land uses are subject to regulation of Maine's Mandatory Shoreland Zoning Act when they are within how many feet of a river, wetland, lake, or ocean? - ANSWER250 feet Most land uses are subject to regulation of Maine's Mandatory Shoreland Zoning Act when they are within how many feet of ce...
In Maine, a person without a real estate license may: - ANSWERCall bids at a real estate auction. Under Maine law, "real estate brokerage' means: - ANSWERA single instance of offering, attempting to conduct, or conducting real estate services on behalf of another for compensation. In Maine a...
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Add to cartIn Maine, a person without a real estate license may: - ANSWERCall bids at a real estate auction. Under Maine law, "real estate brokerage' means: - ANSWERA single instance of offering, attempting to conduct, or conducting real estate services on behalf of another for compensation. In Maine a...
Who is an employer responsible for directing a(n) as to both what is to be done and how it is to be done? - ANSWEREmployee Real estate licensees almost always sign an Independent Contractor Agreement with their company they are called what? - ANSWERIndependent Contractors Every real estate bro...
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Add to cartWho is an employer responsible for directing a(n) as to both what is to be done and how it is to be done? - ANSWEREmployee Real estate licensees almost always sign an Independent Contractor Agreement with their company they are called what? - ANSWERIndependent Contractors Every real estate bro...
A licensee operating a "business within a business." Not required to work 40 hours a week. - ANSWERAn independent contractor is: The brokerage Policy and Procedures Manual will address the agency relationship policies and the practices of the company. - ANSWERWhen considering which agency to j...
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Add to cartA licensee operating a "business within a business." Not required to work 40 hours a week. - ANSWERAn independent contractor is: The brokerage Policy and Procedures Manual will address the agency relationship policies and the practices of the company. - ANSWERWhen considering which agency to j...
Fiduciary duties include... - ANSWEROLD CARD Obedience loyalty disclosure confidentiality accounting reasonable care diligence what survives closing? - ANSWERconfidentiality and accounting associatebroker/broker licensees must complete - ANSWER21 hours of approved education RE b...
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Add to cartFiduciary duties include... - ANSWEROLD CARD Obedience loyalty disclosure confidentiality accounting reasonable care diligence what survives closing? - ANSWERconfidentiality and accounting associatebroker/broker licensees must complete - ANSWER21 hours of approved education RE b...
XYZ Realty policy manual shows the following compensation structure: Commission rate charged - 6% to XYZ Realty; 50% to the listing agent. If sold by another company, the commission is split equally. An agent from ABC Realty secured the buyer. Her company policy is, that as the selling agent, she wi...
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Add to cartXYZ Realty policy manual shows the following compensation structure: Commission rate charged - 6% to XYZ Realty; 50% to the listing agent. If sold by another company, the commission is split equally. An agent from ABC Realty secured the buyer. Her company policy is, that as the selling agent, she wi...
What does the MREC stand for ? - ANSWERMaine Real Estate Commission When was the MREC established and by what act? - ANSWERAct of Maine Legislature in 1937 What is the policy/mission of the MREC? - ANSWERsupervise licensees "in a manner to ensure that they meet standards which will promote pu...
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Add to cartWhat does the MREC stand for ? - ANSWERMaine Real Estate Commission When was the MREC established and by what act? - ANSWERAct of Maine Legislature in 1937 What is the policy/mission of the MREC? - ANSWERsupervise licensees "in a manner to ensure that they meet standards which will promote pu...
The four industry members on the Maine Real Estate Commission are - ANSWERSLicensees who have held broker or associate broker licenses for five years The Maine Real Estate Commission has the power to - ANSWERSSuspend or revoke a real estate license In Maine a person without a real estate licen...
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Add to cartThe four industry members on the Maine Real Estate Commission are - ANSWERSLicensees who have held broker or associate broker licenses for five years The Maine Real Estate Commission has the power to - ANSWERSSuspend or revoke a real estate license In Maine a person without a real estate licen...
What is the definition of Real Estate - ANSWERReal Estate is land and everything more or less permanently attached to it, like buildings, sidewalks, and naturally growing trees. What is personal property? - ANSWERPots and pans, garden tools, furniture that can be moved, moveable electronics like ...
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Add to cartWhat is the definition of Real Estate - ANSWERReal Estate is land and everything more or less permanently attached to it, like buildings, sidewalks, and naturally growing trees. What is personal property? - ANSWERPots and pans, garden tools, furniture that can be moved, moveable electronics like ...
Chapter 400 Item 1: Who supervises the activities of affiliated licensees, the activities of unlicensed persons affiliated with the agency (for example, the administrative staff), and the operation of the agency? - ANSWERThe Designated Broker Chapter 400 Item 1: For how many days must the Designa...
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Add to cartChapter 400 Item 1: Who supervises the activities of affiliated licensees, the activities of unlicensed persons affiliated with the agency (for example, the administrative staff), and the operation of the agency? - ANSWERThe Designated Broker Chapter 400 Item 1: For how many days must the Designa...
Call bids at a real estate auction. - ANSWERIn Maine, a person without a real estate license may: A single instance of offering, attempting to conduct, or conducting real estate services on behalf of another for compensation. - ANSWERUnder Maine law, "real estate brokerage' means: Prospectiv...
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Add to cartCall bids at a real estate auction. - ANSWERIn Maine, a person without a real estate license may: A single instance of offering, attempting to conduct, or conducting real estate services on behalf of another for compensation. - ANSWERUnder Maine law, "real estate brokerage' means: Prospectiv...
Who supervises the activities of affiliated licensees, the activities of the unlicensed persons affiliated with the agency (for example, the administrative staff), and the operation of the agency? - ANSWERThe Designated Broker Designated Broker - ANSWERSupervises activities of affliated licensees...
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Add to cartWho supervises the activities of affiliated licensees, the activities of the unlicensed persons affiliated with the agency (for example, the administrative staff), and the operation of the agency? - ANSWERThe Designated Broker Designated Broker - ANSWERSupervises activities of affliated licensees...
Abstract of Title - ANSWERA _____ exam summary prepared from the records in the registry of deeds Accounting - ANSWEROne of the seven fiduciary duties of an agent to a client: agent must report to the client how money held for the client is to be handled Accretion - ANSWERThe process by which ...
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Add to cartAbstract of Title - ANSWERA _____ exam summary prepared from the records in the registry of deeds Accounting - ANSWEROne of the seven fiduciary duties of an agent to a client: agent must report to the client how money held for the client is to be handled Accretion - ANSWERThe process by which ...
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