Maine -Real Estate test Questions and
Answers 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.
C. A former licensee who is not actively engaged in the practice of real estate.
D. An attorney who assists a client with a real estate transaction. - Answer A. Responsible for
the brokerage activities of anyone in her real estate brokerage agency.
In Maine, when must a licensee furnish various documents, including copies of offers,
counteroffers and all types of contracts to a consumer?
A. At the time of their signatures
B. Within a reasonable amount of time after their signatures
C. Prior to depositing any earnest monies in the agency trust account
D. Prior to the seller signing the deed - Answer A. At the time of their signatures
A Maine licensee shall disclose, in the offer to purchase, that the licensee is acting in self
interest and that she is a real estate licensee EXCEPT when:
A. Selling her own primary residential home.
B. Buying real estate not listed with a real estate agency.
, C. Buying real estate listed with the licensee's agency.
D. Buying real estate and sharing in the brokerage fee resulting from the sale.
Your answer: C. Buying real estate listed with the licensee's agency.
No, the correct answer is - Answer A. When buying property, a licensee is required by Maine
law to disclose that she is a licensee
In Maine, a licensee is NOT required to provide a copy of the Real Estate Brokerage
Relationships Form to a prospective buyer or seller:
A. For a property with less than 1 or more than 4 residential dwelling units.
B. If the licensee is acting solely as a principal, not as an agent for another.
C. When the written communication from the licensee is a solicitation of business.
D. All of the above.
Your answer: .
Yes, this is the correct answer as answers A, B and C are all correct. - Answer D. All of the
above
Under Maine law, "real estate brokerage' means:
A. The full-time practice of real estate over a two year period.
B. To act solely for the client of a real estate agency to the exclusion of other affiliated licensees.
C. A single instance of offering, attempting to conduct, or conducting real estate services on
behalf of another for compensation.
D. Any entity providing real estate services. - Answer C. The definition of real estate brokerage
is a single instance of offering, attempting to conduct, or conducting real estate services on
behalf of another for compensation.
In Maine an agency that has a company policy that permits disclosed dual agency must provide
a disclosed dual agency consent agreement to:
A. The seller as an addendum to the Purchase and Sale Agreement.
B. Prospective clients at the time of entering into a brokerage agreement.
Answers 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.
C. A former licensee who is not actively engaged in the practice of real estate.
D. An attorney who assists a client with a real estate transaction. - Answer A. Responsible for
the brokerage activities of anyone in her real estate brokerage agency.
In Maine, when must a licensee furnish various documents, including copies of offers,
counteroffers and all types of contracts to a consumer?
A. At the time of their signatures
B. Within a reasonable amount of time after their signatures
C. Prior to depositing any earnest monies in the agency trust account
D. Prior to the seller signing the deed - Answer A. At the time of their signatures
A Maine licensee shall disclose, in the offer to purchase, that the licensee is acting in self
interest and that she is a real estate licensee EXCEPT when:
A. Selling her own primary residential home.
B. Buying real estate not listed with a real estate agency.
, C. Buying real estate listed with the licensee's agency.
D. Buying real estate and sharing in the brokerage fee resulting from the sale.
Your answer: C. Buying real estate listed with the licensee's agency.
No, the correct answer is - Answer A. When buying property, a licensee is required by Maine
law to disclose that she is a licensee
In Maine, a licensee is NOT required to provide a copy of the Real Estate Brokerage
Relationships Form to a prospective buyer or seller:
A. For a property with less than 1 or more than 4 residential dwelling units.
B. If the licensee is acting solely as a principal, not as an agent for another.
C. When the written communication from the licensee is a solicitation of business.
D. All of the above.
Your answer: .
Yes, this is the correct answer as answers A, B and C are all correct. - Answer D. All of the
above
Under Maine law, "real estate brokerage' means:
A. The full-time practice of real estate over a two year period.
B. To act solely for the client of a real estate agency to the exclusion of other affiliated licensees.
C. A single instance of offering, attempting to conduct, or conducting real estate services on
behalf of another for compensation.
D. Any entity providing real estate services. - Answer C. The definition of real estate brokerage
is a single instance of offering, attempting to conduct, or conducting real estate services on
behalf of another for compensation.
In Maine an agency that has a company policy that permits disclosed dual agency must provide
a disclosed dual agency consent agreement to:
A. The seller as an addendum to the Purchase and Sale Agreement.
B. Prospective clients at the time of entering into a brokerage agreement.
