Maine real estate Study guides, Class notes & Summaries

Who established the Maine Real Estate Commission (MREC) and when? CORRECT ANSWER The Maine Real Estate Commission (MREC) was established by an Act of the Maine Legislature in 1937. What is the policy/mission of the MREC? CORRECT ANSWER The policy or mission of the MREC is to supervise licensees "in a manner to ensure that they meet standards which will promote public understanding and confidence in the business of real estate brokerage". Section 13061. Who appoints the commissioners? How...

Maine Real Estate Test 2024/2025 Questions And Answers 100% Accurate Graded A+. 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 - ANSWER-No, rejected offers and counteroffers must be retained for 1 year. A designated broker in Maine is: A. Responsible for the brokerage activities of anyone in her real estate brokerage agency. B. Any licensee with an active Broker license. ...

MAINE REAL ESTATE ACTUAL EXAM 100% CORRECT ANSWERSMAINE REAL ESTATE ACTUAL EXAM 100% CORRECT ANSWERSMAINE REAL ESTATE ACTUAL EXAM 100% CORRECT ANSWERSMAINE REAL ESTATE ACTUAL EXAM 100% CORRECT ANSWERSMAINE REAL ESTATE ACTUAL EXAM 100% CORRECT ANSWERSMAINE REAL ESTATE ACTUAL EXAM 100% CORRECT ANSWERSMAINE REAL ESTATE ACTUAL EXAM 100% CORRECT ANSWERSMAINE REAL ESTATE ACTUAL EXAM 100% CORRECT ANSWERSMAINE REAL ESTATE ACTUAL EXAM 100% CORRECT ANSWERS

Maine Real Estate Final questions with correct answer

2. One of the types of ownership recognized in Maine is: a. Joint fee simple b. Fee Simple Absolute c. Estate for Years d. Free Estate CORRECT ANSWER b. Fee Simple Absolute 3. Transferring real estate in Maine must: a. Be done by a lawyer b. Be done by written deed c. Be to a person at least 18 years old to be binding d. Be for monetary compensation CORRECT ANSWER c. Be to a person at least 18 years old to be binding 4. Taking title to real estate through possession is ca...

Maine Real Estate Test 2024/2025 Questions And Answers 100% Accurate Graded A+. 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 - ANSWER-No, rejected offers and counteroffers must be retained for 1 year. A designated broker in Maine is: A. Responsible for the brokerage activities of anyone in her real estate brokerage agency. B. Any licensee with an active Broker license. ...

Maine Real Estate License Practice ExamSection 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. Oversee audits and continuing education of practicing licensees - correct answer C. Promote public confidence in the real estate industry The industry members ...

Maine Real Estate License Practice Exam part 2 questions with correct answers.

Maine Real Estate Laws questions with correct answers

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. Ownership of real estate includes: a.) Rights to use the surface, subsurface and airspace over the land b.) Fixtures c.) Naturally growing tree growing on the land d.) All of the above - D.) All of...