Maine Real Estate License Practice Exam Verified Answers

Maine Real Estate License Practice Exam Verified Answers Mark Swanson from Skowhegan has a Sales Agent license in the state of Maine that will expire on September 30. Which of the following is true? a. He must stop practicing real estate of October 1 b. He may apply for a Broker's license as long as he completes the course prior to or on November 30 c. He must complete the required education for an Associate Broker's license prior to or on September 30 d. He can apply for a one year extension due to documented extenuating circumstances ️d. He can apply for a one year extension due to documented extenuating circumstances . The Designated Broker is responsible for having a written company policy that covers the topic of? a. How the commission split works and how commissions are paid b. Timing of the mandatory sales meeting and required office dress code c. Types of relationships the agency engages in such as Appointed Agency, Disclosed Dual Agency, Seller Agency, Buyer Agency and Subagency d. How the agency will pay all outstanding and future IRS liabilities of the agent ️c. Types of relationships the agency engages in such as Appointed Agency, Disclosed Dual Agency, Seller Agency, Buyer Agency and Subagency .15. The Maine Real Estate Commission requires that heating system disclosures be presented to the buyer in writing: a. Prior to, or during the preparation of an offer b. At the time when the information is given to a selling agent by the listing agent c. Prior to the seller signing the deed d. Prior to the buyer signing all financing documents ️a. Prior to, or during the preparation of an offer .66. Walter is representing the seller at 65 Croftbridge Road in Camden. His marketing brings the buyers to the transaction. His company practices appointed agency. Which of the following is true? a. Walter is the agent of the seller and the transaction broker to the buyer b. Walter is acting as a dual agent and must disclose this in writing to both the buyer and the seller c. Since Walter's company practices appointed agency, he must appoint another agent to the buyer d. Walter is the subagent of the seller and the agent of the buyer ️b. Walter is acting as a dual agent and must disclose this in writing to both the buyer and the seller 10 . In Maine, a licensee is not required to provide a copy of Real Estate Brokerage Relationships (Form 3) to a prospective buyer or seller: a. For a property with less than 1 or more than 4 residential units b. If the licensee is acting solely as a principal, not as an agent for another c. When written communication from the licensee is a solicitation of business d. All of the above ️d. All of the above - For a property with less than 1 or more than 4 residential units - If the licensee is acting solely as a principal, not as an agent for another - When written communication from the licensee is a solicitation of business 10 Shayna Gartman listed a convenience store in Lebanon with an apartment on the