Maine real estate Q&A Verified Solutions

Maine real estate Q&A Verified Solutions What is a branch office? - 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? - ANSWER 18 What is the maximum fine that LUPC can impose for a violation? - ANSWER $10k per day Shoreland areas include area within how many feet of the normal high-water line of great pond? - ANSWER 250 feet how many hours must you attend classroom training in order to apply for an assc broker lic? - ANSWER 60 How must a real estate brokerage agency's trade name be displayed in advertising? - ANSWER Prominently displayed Who is responsible for the management of the Maine Real Estate Commission affairs? - ANSWER The Director Shoreland areas include area within how many feet of the high-water line of a stream? - ANSWER 250 What level of re lic may only be granted after the lic has completed 2 yrs as a lic re sales agent? - ANSWER associate How many hours of CEmust an assocbroker complete in a two year period? - ANSWER 21 What type of listing is prohibited in Maine? - ANSWER net listing How long must a DB retain copies of paperwork re a closed real estate transaction? - ANSWER 3 yr Whose duty is it to oversee all ads placed by any affil licensee of an agency? - ANSWER DB What is the maximum fine that may be assessed bythe Maine Real Estate Commission? - ANSWER $2000 How many public members serve on the Maine Real Estate Commission? - ANSWER 2 Whose duty is it to oversee the filing, storage and maintenance of real estate documents? - ANSWER DB What grade must you receive in the Sales Agent Course in order to pass the course? - ANSWER 75 For how many hours must you attend training in order to apply for a sales agent license? - ANSWER 55 What does it mean to commingle funds? - ANSWER Mixing funds belonging to the re brokerage ag with funds belonging to clients and other persons If you change your home address, how long do you have to notify the MREC of this change? - ANSWER 10 days Whose responsible for written y identifying type of RErelationships the ag. may engage? - ANSWER DB