Real Estate State Exam – Maine questions with correct answers

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 ANSWER 1. 2 years as a sales agent, 2. Pass exam and course with 75% or better. List five things that the Maine Real Estate Commission may discipline a licensee for CORRECT ANSWER 1. Gross Negligence 2. Fraud 3. Aiding and abetting an unlicensed person 4. crime, and 5. violating the rules of office. List five disciplinary actions that the Maine Real Estate Commission may render when a licensee is found guilty of a violation CORRECT ANSWER 1. Denial of license renewal, 2. revoke license, 3. civil penalities, 4. suspension, and 5. warning List four reasons in which the Maine Real Estate Commission may deny a real estate license to a person CORRECT ANSWER 1. Failed exam, 2. under age 18, 3. no high school diploma or GED, 4. no pre-licensing course. What two things must a company do when an licensee is terminated from that company? CORRECT ANSWER 1. Accounting, 2. Confidential client information