BUNDLE PACK OF MAINE REAL ESTATE EXAM QUESTIONS CORRECTLY ANSWERED.

Real Estate Chapter 15 Review Practice Test 2024. Police Power- Through zoning - correct answer Land use controls that benefits the public health, safety, and general welfare are possible because of the government's Taxation. - correct answer The government's police power can be used for all ...

Real Estate Appraisal Final Exam Prediction Questions 2024. The act or process of critically studying a report prepared by another is called: - correct answer A review Federally related transactions are transactions: - correct answer involving a federal agency or regulatory An item that was f...

Principles of Real Estate 1 Written Exam 2024. Appraisal is the business of: (a) Acquiring land for development into residential subdivisions and retail centers (b) Providing money to individuals or corporations for the conditional transfer or pledge of real estate as security for the payment of ...

Principles of Real Estate 1 - Champions Final Exam Questions 2024.Leasehold Estates - correct answer possession and use of property without ownership Estate for years (tenancy for years) - correct answer any lease with a specific starting and ending date. Survives the death or sale of the propert...

MAINE STATE PRACTICE EXAM TEST 2024. The most common manner in which to transfer risk in real estate property management is through the use of: A. indemnification agreements. B. insurance policies. C. hold harmless agreements. D. release of liability forms. - correct answer B. In risk manage...

Maine Sales Agent Course Quiz #1 Correctly Answered 2024. What powers does the Maine Real Estate Commission have? - correct answer 1. Enforce Real Estate License Law and Rules 2. Discipline Real Estate Licensees 3. Oversight of education programs 4. Issue Licenses What types of licens...

Maine Real Estate 2 Study Guide Test 2024. The four industry members on the Maine Real Estate Commission are - correct answer Licensees who have held broker or associate broker licenses for five years The Maine Real Estate Commission has the power to - correct answer Suspend or revoke a real est...

Maine Real Estate Study Guide Exam 2024. CONVENTIONAL LIFE ESTATE - correct answer SET UP BY THE GRANTOR. EXAMPLE: SON GIVES PROPERTY TO HIS MOTHER FOR HER LIFE. UPON HER DEATH THE PROPERTY COULD REVERT BACK TO THE SON OR TO A REMAINDERMAN THAT HE NAMES WHEN HE SETS UP THE LIFE ESTATE. Fee S...

Maine Real Estate Review Practice Test 2024. type of ownership - correct answer A condominium is NOT a description of an architectural style but a _______ ___ _________. PUD (planned unit development) - correct answer _____ communities usually include single family homes, condominiums, apartment...

Maine Real Estate Final Exam Prediction Questions 2024. What is a branch office? - correct answer A 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? - correct answer 1...

Maine Real Estate Vocabulary- TRELG Study Guide Test 2024. Aesthetic zoning: - correct answer This type of zoning requires new builds to meet specific types of architecture styles, may and limit the colors used and the size of signs in commercial areas. Affirmative easement: - correct answer An ...

Maine Real Estate Complete Test With Complete Solutions 2024. 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 - correct answer No, rejected offers and counteroffers must be ret...

Maine Real Estate Study Practice Test 2024. In Maine, an agency relationship begins when the - correct answer Buyer or seller and agency sign an agreement establishing the agency relationship. Where a licensee has an agency relationship with a client, his/her most important duties are owed to: -...

Maine Real Estate Sales Agent Course - Chapter 1 Review Practice Test 2024. What does the MREC stand for ? - correct answer Maine Real Estate Commission When was the MREC established and by what act? - correct answer Act of Maine Legislature in 1937 What is the policy/mission of the MREC? - c...

Maine Real Estate Quiz #1 Review Study Guide 2024.Your real estate brokerage agency provides you with health insurance and a car to use while showing property to clients. Are you an independent contractor or an employee? - correct answer employee In the overwhelming majority of real estate broker...

Maine Real Estate Questions Correctly Answered 2024. Marth lives on one side of a two-family house. She wants to advertise the other side as non-smoking. Can she legally do so? - correct answer Yes, because the right to smoke is not protected by law. Under the Equal Credit Opportunity Act (ECOA)...

Maine Real Estate Final Exam Study Guide Test 2024. Two fiduciary duties that never expire - correct answer confidentiality and accounting when must a client give consent to a disclosed dual agency? - correct answer at the time the client signs a listing agreement or buyer representation agreeme...

Maine Real Estate Prep Exam Questions And Answers 2024.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? - correct answer The Designated Broker Design...

Maine Real Estate MATH SECTION EXAM CORRECTLY SOLVED 2024.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...

Maine Real Estate License Practice Exam Questions 2024. Who is an employer responsible for directing a(n) as to both what is to be done and how it is to be done? - correct answer Employee Real estate licensees almost always sign an Independent Contractor Agreement with their company they are cal...

Maine Real Estate License Practice Exam Part 2 Study Guide Test 2024.65 Marsha and Paula both work for Undertow Realty in Castine. The Designated Broker has decided to practice appointed agency at Undertow Realty. Marsha is the appointed agent to the seller at 68 Puffin Lane. Paula is appointed to t...

Maine Real Estate License Practice Exam PART 1 Correctly Answered 2024.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 cand...

Maine Real Estate Law Written Exam 2024. Call bids at a real estate auction. - correct answer In 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. - correct answer Und...

Maine Real Estate Law Review Practice Test 2024. A client must be informed as to the real estate brokerage agency's appointed agency policy and: - correct answer Give written consent to that policy in advance of entering into a brokerage agreement. A disclosed dual agent may disclose any inform...

Maine Real Estate Law TRELG Course Study Guide Test 2024. 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? - correct answer I can't pay referral fees to someone who...

Maine Real Estate Law Exam Prep Correctly Answered 2024. In Maine, a person without a real estate license may: - correct answer Call bids at a real estate auction. Under Maine law, "real estate brokerage' means: - correct answer A single instance of offering, attempting to conduct, or conduct...

Maine Real Estate Study Practice Test 2024. An adequate legal description of real estate is one: - by 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. Ow...

Maine Real Estate Exam Correctly Answered 2024. The purpose of the Maine Real Estate Commission is to: A. Sanction licensees who break the law. B. Promote public understanding and confidence in the business of real estate brokerage. C. Make laws that govern the practice of real estate...

Maine Real Estate Final Exam Quiz 2024. Truth in Lending - correct answer Truth in Lending (otherwise known as Regulation Z) is intended to do away with deceptive financing tactics, especially those involving hidden costs- for example, advertising a $250 car lease as zero-down and then tacking a $...

Maine Real Estate Exam Questions And Answers 2024. An employer is responsible for direction a ( ) as to both what is to be done and how it is to be done - correct answer employee Real estate licensees are almost always ( ) with their company - correct answer independent contractors Every real...

Maine Real Estate Questions And Answers Rated A+. What is dual agency - correct answer Dual agency is a situation where one or more licensee(s) (or one agency) represent(s) two clients whose interests are adverse Why would an agency decide to practice under the Appointed Agency Concept - corr...

Maine Real Estate Prep Exam Questions 2024. Independent contractor - correct answer What is the legal relationship of a licensee to an agency Fructus industrials - correct answer Annual crops like corn or lettuce classified as personal property. Seller can harvest fruits of labor only one time a...

Maine Real Estate Final Exam 2024. All of the following are real property EXCEPT - correct answer A Portable Basketball hoop A metes and bounds description of real property relies on - correct answer A point of beginning, measurement of distances, and directions on a compass Fee simple owner...

Maine Real Estate Exam Practice Questions With 100% Correct Answers . John is a subagent of the seller Nancy. To whom does John owe fiduciary duties? A. The buyer B. Nancy C. Nobody D. All parties to the transaction - correct answer B. Nancy A closing takes place on August 31. After the cl...

Maine Real Estate Commission Study Guide . Maine Real Estate Commission (MREC) - correct answer The Maine based organization meant to protect the public through the regulation of the real estate industry in Maine. Multiple Listing Service (MLS) - correct answer A system that pools the listings o...

Maine Real Estate 1 - 6 Written Exam Rated A+. Fred wants to put an addition on his hunting camp located in an unorganized township in Maine. He must apply to ________ fora building permit - correct answer (LUPC) Land Use Planning Committee An employer is responsible for directing a(n)__________...

Maine Real Estate - 7-15 Final Study Guide Questions. The right to use the land of another but not to possess it is called - correct answer Non-Possessory Rights An easement that involves two parcels of land is called an - correct answer Appurtenant Easement. The land that benefits from an ...

Maine Practice Exam Questions With Correct Answers . 1. 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 ...

Maine Laws TRELG Exam Questions Correctly Answered. 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...

Maine Law Real Estate TRELG Study Guide Exam . 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...

Maine - Real Estate Complete Test With Complete Solutions. Fixture - An 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 ...

Exercise on Maine Real Estate License Laws TRELG Practice Exam Questions .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 Andrew? - correct answer I can't pay referral f...

Chapter 27 Maine Real Estate Laws Exam Questions Correctly Answered . 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 Andrew? - correct answer I can't pay referral fees...

Chapter 27 - ME LAWS Study Guide Test.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 Andrew? - correct answer I can't pay referral fees to someone who is not a real est...

Chapter 11 Practice Exam Questions 2024. 1. Which of the following is an example of a unilateral contract? (a) Purchase and sale contract (b) Contract for deed (c) Open listing contract (d) Oral contract - correct answer (c) Open listing contract What is consideration? - correct answer Pr...

Chapter 4 - Government Controls And Real Estate Markets Written Exam 2024. The power of state and local governments in the United States to regulate in the interest of the health, safety and welfare of citizens in general is known as: - correct answer Police powers Examples of market failure due...

Champions Real Estate Marketing SAE Practice Exam Questions 2024. Most common reason a property fails to sell is - correct answer price Matching human needs with goods or services to meet those needs is the process of - correct answer marketing _____________________ is a key personality trait...