Maine Real Estate 1 - 6 Written Exam Rated A+.

Maine Real Estate 1 - 6 Written Exam Rated A+. Fred wants to put an addition on his hunting camp located in an unorganized township in Maine. He must apply to ________ fora building permit - correct answer (LUPC) Land Use Planning Committee An employer is 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 are almost always___________ ______________with their company;they sign an Independent Contractor Agreement - correct answer Independent Contractors Every real estate brokerage should adopt a ______________ ___________ _________that identifies and describes the types of real estate brokerage relationships in which the broker and affiliated licensees may engage.NOTE: This is a requirement in Maine. - correct answer Written Company Policy License laws and rules apply to ALL licensees within the state, whereas the NAR ______ _____ _____ applies only to those who join the REALTOR® organization. - correct answer Code of Ethics Each market has a system whereby each company can promote its listed properties to other companies who may have a buyer for its properties. The purpose of these_________ __________ ____________is to facilitate the bringing together of sellers and buyers in a market. - correct answer MLS (Multiple Listing Service) If you choose to become affiliated with a broker who is a member of a franchise, you will probably be expected to ____ _____ ____ for that membership that is often in addition to the standard fee brokers in your area charge licensees. - correct answer Pay a Fee A ________ _________ is someone who owns an unincorporated business by himself or herself, and is personally liable for the debts of the business. - correct answer Sole Proprietor The legal structure of a(n) __________provides the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership.All profits and losses are "passed through"the business to each member - correct answer LLC (Limited Liability Corporation