Maine Associate Broker TRELG Exam Questions with 100% Correct Answers

In Maine, an agency relationship with a buyer begins when: A. The buyer says it does. B. The potential buyer receives the Real Estate Brokerage Relationships Form (Form 3). C. The licensee says it does. D. The buyer signs an agreement with the real estate brokerage agency establishing an agency relationship. - Answer-The buyer signs an agreement with the real estate brokerage agency establishing an agency relationship. Which of the following statements about the fiduciary duty of confidentiality is true? A. It ends when the closing takes place. B. It ends as soon as the licensee receives his or her commission check. C. With few exceptions, it survives the agency relationship. D. It continues until the licensee retires from real estate - Answer-With few exceptions, it survives the agency relationship. Suzanne is a licensee hosting an open house. A prospective buyer visits the open house and announces that he is represented by another licensee on an exclusive basis. What is Suzanne able to do? A. She may encourage the buyer to sign an agency agreement with Suzanne's agency. B. She may ask the buyer to sign a buyer agent agreement with Suzanne's agency for this property only. C. She may not solicit a buyer agent agreement knowing that the buyer is already represented. D. She may show other property to this buyer as this buyer's agent. - Answer-She may not solicit a buyer agent agreement knowing that the buyer is already represented. When a licensee has an agent relationship with a client, his or her most important duties are owed to: A. The client. B. The designated broker. C. The Maine Real Estate Commission. D. All the other affiliated licensees in the real estate brokerage agency. - Answer-The client. Which of the following statements is true? For an agent to become an appointed agent in Maine: A. The client must agree in writing to allow the agent to serve as an appointed agent. B. The agency must have adopted the appointed agent concept. C. It does not matter whether the company allows the practice of disclosed dual agency. D. All of the above are true statements. - Answer-All The Above Which of the following must a transaction broker disclose to all parties of a real estate transaction? A. The knowledge that the airport flight path goes directly above the property B. The fact that asbestos is present in the floor tiles of the family room in the basement C. Information about the crime rate in the neighborhood in which the property is located D. A hunch that the reason the seller is selling is due to an impending divorce - Answer-B. The fact that asbestos is present in the floor tiles of the family room in the basement