Maine sales agent course quiz #1 questions with 100% correct answers

Maine sales agent course quiz #1What 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 licenses does the Maine Real Estate Commission issue? - correct answer 1. Sales Agent 2. Associate Broker 3. Broker 4. Designated Broker (Sometimes referred to as the Broker, DB, Principal Broker, Broker in charge, etc.) Appraisers - correct answer People who are licensed to provide opinions of value of real property for sale, financing, etc. What is the purpose of an Appraisal? - correct answer to determine the market value of the property Who's duty is it to conspicuously display the agency license in the broker's place of business? - correct answer The designated broker Real Estate - correct answer all estates and lesser interests in land and an existing business if real estate is part of the business. When may the Real Estate Commission deny or refuse to renew a license, suspend, or revoke a license or impose other disciplines? - correct answer 1. the practice of fraud, deceit, or misrepresentation in obtaining a license 2. Gross negligence, incompetence, misconduct, or applicable standard of practice while engaged in a real estate brokerage. 3. conviction of a Class A, B, or C crime, or any crime bearing directly on the real estate business. 4. Any violation of the real estate license law. 5. Any violation of the Maine Real Estate Commission rules. 6. Engaging in an activity requiring a real estate brokerage license that is beyond the scope of the license held. 7. Continuing to act in a capacity requiring a real estate license after expiration, suspension, or revocation of a real estate license. 8. Aiding and abetting unlicensed practice of real estate brokerage by a person who is no properly licensed. 9. Noncompliance with an order or consent agreement of the Maine Real Estate Commission (21 CE Hours) 10. Failure to produce any requested documents in the licensee's possession or under the licensee's control concern Real Estate Brokerage - correct answer A single instance of offering, attempting to conduct or conducting services on behalf of another for compensation, or with the expectation of receiving compensation, calculated to result in the transfer of an interest in real estate.