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Maine Real Estate License Tests Bundle Set
Maine Real Estate License Tests Bundle Set
[Mostrar más]Maine Real Estate License Tests Bundle Set
[Mostrar más]Fixture CORRECT ANSWER 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 of the real estate. 
 
Improvements CORRECT ANS...
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Añadir al carritoFixture CORRECT ANSWER 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 of the real estate. 
 
Improvements CORRECT ANS...
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 18 
 
What is the maximum fine that LUPC can impose for a viol...
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Añadir al carritoWhat 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 18 
 
What is the maximum fine that LUPC can impose for a viol...
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 retained for 1 year. 
 
A designated broker in Maine is: 
 
 
A. Res...
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Añadir al carritoFor 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 retained for 1 year. 
 
A designated broker in Maine is: 
 
 
A. Res...
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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Añadir al carritoSection 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...
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 ownership describes CORRECT ANSWER Current own...
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Añadir al carritoAll 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 ownership describes CORRECT ANSWER Current own...
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 ...
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Añadir al carritoWho 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 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 conducting real estate services on behalf of another for compensation....
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Añadir al carritoIn 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 conducting real estate services on behalf of another for compensation....
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. CORRECT ANSWER call bids at a real estate au...
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Añadir al carritoIn 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. CORRECT ANSWER call bids at a real estate au...
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 information to one party that the licensee gains from the ...
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Añadir al carritoA 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 information to one party that the licensee gains from the ...
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 is not a real estate licensee. 
 
Elwood holds a Maine aucti...
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Añadir al carritoYou 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 is not a real estate licensee. 
 
Elwood holds a Maine aucti...
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 called what? CORRECT ANSWER Independent Contractors 
 
Every r...
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Añadir al carritoWho 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 called what? CORRECT ANSWER Independent Contractors 
 
Every r...
Fiduciary duties include... CORRECT ANSWER OLD CARD 
Obedience 
loyalty 
disclosure 
confidentiality 
accounting 
reasonable care 
diligence 
 
what survives closing? CORRECT ANSWER confidentiality and accounting 
 
associatebroker/broker licensees must complete CORRECT ANSWER 21 hours of appro...
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Añadir al carritoFiduciary duties include... CORRECT ANSWER OLD CARD 
Obedience 
loyalty 
disclosure 
confidentiality 
accounting 
reasonable care 
diligence 
 
what survives closing? CORRECT ANSWER confidentiality and accounting 
 
associatebroker/broker licensees must complete CORRECT ANSWER 21 hours of appro...
The maximum security deposit a landlord may take on is CORRECT ANSWER Up to two months rent 
 
Which real estate player estimates the value of real property? CORRECT ANSWER Appraiser 
 
When doing a CMA (Comparative Market Analysis) a licensee must reconcile the adjusted prices of the comparable. Th...
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Añadir al carritoThe maximum security deposit a landlord may take on is CORRECT ANSWER Up to two months rent 
 
Which real estate player estimates the value of real property? CORRECT ANSWER Appraiser 
 
When doing a CMA (Comparative Market Analysis) a licensee must reconcile the adjusted prices of the comparable. Th...
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 agreement with the brokerage agency 
 
A maine real estate licen...
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Añadir al carritoTwo 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 agreement with the brokerage agency 
 
A maine real estate licen...
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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Añadir al carritoSection 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...
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? CORRECT ANSWER 250 feet 
 
Most land uses are subject to regulation of Maine's Mandatory Shoreland Zoning Act when they are within how many fee...
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Añadir al carritoMost 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? CORRECT ANSWER 250 feet 
 
Most land uses are subject to regulation of Maine's Mandatory Shoreland Zoning Act when they are within how many fee...
Abstract of Title CORRECT ANSWER A _____ exam summary prepared from the records in the registry of deeds 
 
Accounting CORRECT ANSWER One 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 CORRECT ANSWER ...
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Añadir al carritoAbstract of Title CORRECT ANSWER A _____ exam summary prepared from the records in the registry of deeds 
 
Accounting CORRECT ANSWER One 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 CORRECT ANSWER ...
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 estate license 
 
In Maine a person without a real ...
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Añadir al carritoThe 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 estate license 
 
In Maine a person without a real ...
An adequate legal description of real estate is one: CORRECT ANSWER 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:...
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Añadir al carritoAn adequate legal description of real estate is one: CORRECT ANSWER 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:...
Maine Real Estate Sales Agent questions with correct answers
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Añadir al carritoMaine Real Estate Sales Agent questions with correct answers
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 Under Maine law, "real estate brokerage' means:...
Vista previa 2 fuera de 6 páginas
Añadir al carritoCall 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 Under Maine law, "real estate brokerage' means:...
Maine Real Estate Exam #2 questions with correct answers
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Añadir al carritoMaine Real Estate Exam #2 questions with correct answers
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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Añadir al carritoXYZ 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...
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 management, the most common and effective mann...
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Añadir al carritoThe 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 management, the most common and effective mann...
List three areas in which the Maine Real Estate Commission may establish guidelines and rules. CORRECT ANSWER 1. Licensing, 2. Prescription of curricula and standards for education, 3. Investigations of licensee conduct. 
 
List the two requirements to go from Sales Agent to Associate Broker CORRECT...
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Añadir al carritoList three areas in which the Maine Real Estate Commission may establish guidelines and rules. CORRECT ANSWER 1. Licensing, 2. Prescription of curricula and standards for education, 3. Investigations of licensee conduct. 
 
List the two requirements to go from Sales Agent to Associate Broker CORRECT...
An independent contractor is: 
A. A licensee operating a "business within a business" 
B. Given health benefits from the brokerage firm 
C. Not required to work 40 hours a week 
D. Both A and C CORRECT ANSWER D. Both A and C 
 
When considering which agency to join, a candidate who intends to be a...
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Añadir al carritoAn independent contractor is: 
A. A licensee operating a "business within a business" 
B. Given health benefits from the brokerage firm 
C. Not required to work 40 hours a week 
D. Both A and C CORRECT ANSWER D. Both A and C 
 
When considering which agency to join, a candidate who intends to be a...
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 pers...
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Añadir al carrito2. 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 pers...
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 the buyers. Which of the following statements is true? 
 
a. Marsha an...
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Añadir al carrito65 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 the buyers. Which of the following statements is true? 
 
a. Marsha an...
Consider a three bedroom, two bath cape on a two-acre parcel in rural Maine and then the same property on the coast in southern Maine. The value of the property in southern Maine is likely to be higher because of: 
a. Supply and demand. 
b. Economic forces. 
c. Social forces. 
d. All of the above. C...
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Añadir al carritoConsider a three bedroom, two bath cape on a two-acre parcel in rural Maine and then the same property on the coast in southern Maine. The value of the property in southern Maine is likely to be higher because of: 
a. Supply and demand. 
b. Economic forces. 
c. Social forces. 
d. All of the above. C...
Designated Broker CORRECT ANSWER NH - Principal broker 
Responsible for reasonable supervision 
 
License Equivalents CORRECT ANSWER -NH Salesperson = ME Associate Broker 
-NH Broker = ME Broker 
-NH Facilitator = ME Transaction Broker 
-NH Designated Agency = ME Appointed Agency 
-Sales agent - non...
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Añadir al carritoDesignated Broker CORRECT ANSWER NH - Principal broker 
Responsible for reasonable supervision 
 
License Equivalents CORRECT ANSWER -NH Salesperson = ME Associate Broker 
-NH Broker = ME Broker 
-NH Facilitator = ME Transaction Broker 
-NH Designated Agency = ME Appointed Agency 
-Sales agent - non...
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