Maine- Real Estate Exam #2-Study Guide
Questions Fully Solved 2026 Updated.
A licensee operating a "business within a business."
Not required to work 40 hours a week. - Answer An independent contractor is:
The brokerage Policy and Procedures Manual will address the agency relationship policies and
the practices of the company. - Answer When considering which agency to join, a candidate
who intends to be an independent contractor should consider the company Policy and
Procedures Manual because it will address:
REALTORS - Answer Which of the following real estate industry organizations has a Code of
Ethics that is to be followed by industry members?
Franchise. - Answer A licensee is paying a monthly fee to the company. The licensee MOST
LIKELY works for a/an:
Marital Status - Answer Which of the following is NOT protected by the Equal Employment
Opportunity Act?
The portable basketball hoop in the driveway. - Answer All of the following are real property
EXCEPT:
Severance. - Answer Paul chops down a tree and splits it into firewood. This example of real
property being changed into personal property is an illustration of:
The right to start a foreclosure process - Answer Which of the following is NOT an element of
the bundle of rights of an owner of property in fee simple absolute?
Real Property - Answer A fixture is considered to be:
Permanence of Investment - Answer Which of the following would NOT be characterized as a
physical characteristic of real estate?
Current ownership. - Answer Fee simple ownership describes:
so long as Eddie uses the property for religious purposes. - Answer Clarence grants a property
in fee simple determinable to Eddie. Which of these phrases is most likely to be in the deed?
, Present interest in real estate. - Answer Fee simple absolute is an example of a/an:
It may take Leila's property under eminent domain and must pay fair market value to do so. -
Answer A municipality wants to build a public parking garage on Leila's land. Which of the
following statements about the municipality is true?
As joint tenants or tenants in common - Answer In which of these forms may a parent and
child own property together?
file a petition for partition with the court. - Answer Sally and Martha own 766 Oak Street as
joint tenants. Sally wants to sell the property, and Martha refuses. One way that Sally could
pursue forcing a sale is to:
Weeks - Answer The owner of a timeshare generally has rights to the property in what
increments of time?
limited common element. - Answer Lawrence owns Unit #12 at Shady Oaks condominium.
Only Lawrence has use of the deck at Unit #12. The deck is an example of a:
REIT - Answer Which of the following is a publicly traded investment entity that pool money of
investors who want to invest in real estate in markets around the country/world?
The $5000 bonus is paid to Sunshine Realty. - Answer Gerald, a licensee with Sunshine Realty,
is offered a $5000 bonus if he sells a particular listing before the last day of the year. The
transaction closes on December 28. Which of the following statements is true?
general agent. - Answer Ben and Jerry want to buy a principal place of residence, so they
contacted Agent Sandy to show them houses. When looking for a home, Sandy would never
represent Ben and Jerry as a:
general agent. - Answer Willard is a licensee who has been hired by Stephanie to help her buy
as many as ten apartment buildings over the next year. Willard is acting as a/an:
an oral or written agreement between the parties. - Answer Express agency is created by:
The agent must be appointed power of attorney by the client. - Answer An agent has fiduciary
duties to his client. Which of the following is NOT a requirement of the agent?
Questions Fully Solved 2026 Updated.
A licensee operating a "business within a business."
Not required to work 40 hours a week. - Answer An independent contractor is:
The brokerage Policy and Procedures Manual will address the agency relationship policies and
the practices of the company. - Answer When considering which agency to join, a candidate
who intends to be an independent contractor should consider the company Policy and
Procedures Manual because it will address:
REALTORS - Answer Which of the following real estate industry organizations has a Code of
Ethics that is to be followed by industry members?
Franchise. - Answer A licensee is paying a monthly fee to the company. The licensee MOST
LIKELY works for a/an:
Marital Status - Answer Which of the following is NOT protected by the Equal Employment
Opportunity Act?
The portable basketball hoop in the driveway. - Answer All of the following are real property
EXCEPT:
Severance. - Answer Paul chops down a tree and splits it into firewood. This example of real
property being changed into personal property is an illustration of:
The right to start a foreclosure process - Answer Which of the following is NOT an element of
the bundle of rights of an owner of property in fee simple absolute?
Real Property - Answer A fixture is considered to be:
Permanence of Investment - Answer Which of the following would NOT be characterized as a
physical characteristic of real estate?
Current ownership. - Answer Fee simple ownership describes:
so long as Eddie uses the property for religious purposes. - Answer Clarence grants a property
in fee simple determinable to Eddie. Which of these phrases is most likely to be in the deed?
, Present interest in real estate. - Answer Fee simple absolute is an example of a/an:
It may take Leila's property under eminent domain and must pay fair market value to do so. -
Answer A municipality wants to build a public parking garage on Leila's land. Which of the
following statements about the municipality is true?
As joint tenants or tenants in common - Answer In which of these forms may a parent and
child own property together?
file a petition for partition with the court. - Answer Sally and Martha own 766 Oak Street as
joint tenants. Sally wants to sell the property, and Martha refuses. One way that Sally could
pursue forcing a sale is to:
Weeks - Answer The owner of a timeshare generally has rights to the property in what
increments of time?
limited common element. - Answer Lawrence owns Unit #12 at Shady Oaks condominium.
Only Lawrence has use of the deck at Unit #12. The deck is an example of a:
REIT - Answer Which of the following is a publicly traded investment entity that pool money of
investors who want to invest in real estate in markets around the country/world?
The $5000 bonus is paid to Sunshine Realty. - Answer Gerald, a licensee with Sunshine Realty,
is offered a $5000 bonus if he sells a particular listing before the last day of the year. The
transaction closes on December 28. Which of the following statements is true?
general agent. - Answer Ben and Jerry want to buy a principal place of residence, so they
contacted Agent Sandy to show them houses. When looking for a home, Sandy would never
represent Ben and Jerry as a:
general agent. - Answer Willard is a licensee who has been hired by Stephanie to help her buy
as many as ten apartment buildings over the next year. Willard is acting as a/an:
an oral or written agreement between the parties. - Answer Express agency is created by:
The agent must be appointed power of attorney by the client. - Answer An agent has fiduciary
duties to his client. Which of the following is NOT a requirement of the agent?
