TRELG - Maine Real Estate Exam Prep -
Practice Test 1-Questions Fully Solved.
An independent contractor is:
A. A licensee operating a "business within a business"
B. Given health benefits from the brokerage firm
C. Not required to work 40 hours a week
D. Both A and C - Answer D. Both A and C
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:
A. What hour he must work.
B. What health insurance and retirement benefits he gets.
C. The agency relationship policies and practices of the company.
D. Unemployment insurance for licensees with fewer than 4 transactions per year. - Answer C.
The agency relationship policies and practices of the company.
Which of the following real estate industry organizations has a Code of Ethics that is to be
followed by industry members?
A. REALTORS
B. Multiple Listing Service
C. Real Estate Licensing Board
D. State Board of Licensees - Answer A. REALTORS
A licensee is paying a monthly fee to the company. The licensee MOST LIKELY works for a/an:
A. Independent company.
B. Franchise.
C. Small brokerage.
D. Himself/herself. - Answer B. Franchise
Which of the following is NOT protected by the Equal Employment Opportunity Act?
A. A pregnant woman
B. National origin
C. Age (40 or older)
D. Marital Status - Answer D. Marital Status
,All of the following are real property EXCEPT:
A. A chained link fence enclosing the backyard.
B. The weather vane on top of the barn.
C. The portable basketball hoop in the driveway.
D. An antique chandelier in the dining room. - Answer C. The portable basketball hoop in the
driveway.
Paul chops down a tree and splits it into firewood. This example of real property being changed
into personal property is an illustration of:
A. Severance.
B. Exclusion.
C. Conversion.
D. Variance. - Answer A. Severance.
When real property is severed from the land, it becomes personal property.
Which of the following is NOT an element of the bundle of rights of an owner of property in fee
simple absolute?
A. The right to lease the mineral rights
B. The right to encumber the property with an easement in gross
C. The right to sell the air rights
D. The right to start a foreclosure process - Answer D. The right ot start a foreclosure process
A fixture is considered to be:
A. Personal property.
B. Real property.
C. An item that is easily removed from the real estate.
D. An item that requires electricity. - Answer B. Real Property
Which of the following would NOT be characterized as a physical characteristic of real estate?
A. Heterogeneity
B. Immobility
C. Durability
D. Permanence of Investment - Answer D. Permanence of Investment.
Permanence of investment is an economic characteristic of real estate. The physical
characteristics of real estate are heterogeneity, immobility, and durability. Heterogeneity means
, every parcel of land is unique; immobility means that ownership is transferred but not the land
itself; and durability means that the improvements may be destroyed but not the land.
Fee simple ownership describes:
A. Future ownership.
B. Current ownership.
C. A leasehold estate.
D. Current possession. - Answer B. Current ownership.
Clarence grants a property in fee simple determinable to Eddie. Which of these phrases is most
likely to be in the deed?
A. ...until Eddie dies, then the property reverts to Clarence.
B. ...so long as Eddie uses the property for religious purposes.
C. ...for as long as Millie lives then the property reverts to Clarence.
D. ...until Eddie dies, then the property goes to Sheila. - Answer B. ...so long as Eddie uses the
property for religious purposes.
Fee simple determinable is a defeasible fee estate that is formed with the words such as "so
long as" the transfer is used for that purpose. Eddie must use the property for religious
purposes. If the property ceases to have that use, it automatically reverts to the grantor or the
grantor's heirs. The possible future interest of the grantor or the grantor?s heirs is called a
possibility of reverter. Fee simple determinable is also known as fee simple special limitation.
Fee simple absolute is an example of a/an:
A. Present interest in real estate.
B. Future interest in real estate.
C. Possible present interest in real estate.
D. Possible future interest in real estate. - Answer A. Present interest in real estate.
Fee simple absolute is an example of a present interest in real estate. It is the highest form of
ownership recognized by laws and is for an uncertain duration, meaning the owner doesn?t
know how long he/she will own it.
A municipality wants to build a public parking garage on Leila's land. Which of the following
statements about the municipality is true?
A. It may condemn and seize Leila's property without compensating her.
B. It must pay Leila treble damages for her property based on an estimate of value prepared by
a licensed appraiser.
C. It may seize Leila's property only if a majority of voters passes a referendum to do so.
Practice Test 1-Questions Fully Solved.
An independent contractor is:
A. A licensee operating a "business within a business"
B. Given health benefits from the brokerage firm
C. Not required to work 40 hours a week
D. Both A and C - Answer D. Both A and C
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:
A. What hour he must work.
B. What health insurance and retirement benefits he gets.
C. The agency relationship policies and practices of the company.
D. Unemployment insurance for licensees with fewer than 4 transactions per year. - Answer C.
The agency relationship policies and practices of the company.
Which of the following real estate industry organizations has a Code of Ethics that is to be
followed by industry members?
A. REALTORS
B. Multiple Listing Service
C. Real Estate Licensing Board
D. State Board of Licensees - Answer A. REALTORS
A licensee is paying a monthly fee to the company. The licensee MOST LIKELY works for a/an:
A. Independent company.
B. Franchise.
C. Small brokerage.
D. Himself/herself. - Answer B. Franchise
Which of the following is NOT protected by the Equal Employment Opportunity Act?
A. A pregnant woman
B. National origin
C. Age (40 or older)
D. Marital Status - Answer D. Marital Status
,All of the following are real property EXCEPT:
A. A chained link fence enclosing the backyard.
B. The weather vane on top of the barn.
C. The portable basketball hoop in the driveway.
D. An antique chandelier in the dining room. - Answer C. The portable basketball hoop in the
driveway.
Paul chops down a tree and splits it into firewood. This example of real property being changed
into personal property is an illustration of:
A. Severance.
B. Exclusion.
C. Conversion.
D. Variance. - Answer A. Severance.
When real property is severed from the land, it becomes personal property.
Which of the following is NOT an element of the bundle of rights of an owner of property in fee
simple absolute?
A. The right to lease the mineral rights
B. The right to encumber the property with an easement in gross
C. The right to sell the air rights
D. The right to start a foreclosure process - Answer D. The right ot start a foreclosure process
A fixture is considered to be:
A. Personal property.
B. Real property.
C. An item that is easily removed from the real estate.
D. An item that requires electricity. - Answer B. Real Property
Which of the following would NOT be characterized as a physical characteristic of real estate?
A. Heterogeneity
B. Immobility
C. Durability
D. Permanence of Investment - Answer D. Permanence of Investment.
Permanence of investment is an economic characteristic of real estate. The physical
characteristics of real estate are heterogeneity, immobility, and durability. Heterogeneity means
, every parcel of land is unique; immobility means that ownership is transferred but not the land
itself; and durability means that the improvements may be destroyed but not the land.
Fee simple ownership describes:
A. Future ownership.
B. Current ownership.
C. A leasehold estate.
D. Current possession. - Answer B. Current ownership.
Clarence grants a property in fee simple determinable to Eddie. Which of these phrases is most
likely to be in the deed?
A. ...until Eddie dies, then the property reverts to Clarence.
B. ...so long as Eddie uses the property for religious purposes.
C. ...for as long as Millie lives then the property reverts to Clarence.
D. ...until Eddie dies, then the property goes to Sheila. - Answer B. ...so long as Eddie uses the
property for religious purposes.
Fee simple determinable is a defeasible fee estate that is formed with the words such as "so
long as" the transfer is used for that purpose. Eddie must use the property for religious
purposes. If the property ceases to have that use, it automatically reverts to the grantor or the
grantor's heirs. The possible future interest of the grantor or the grantor?s heirs is called a
possibility of reverter. Fee simple determinable is also known as fee simple special limitation.
Fee simple absolute is an example of a/an:
A. Present interest in real estate.
B. Future interest in real estate.
C. Possible present interest in real estate.
D. Possible future interest in real estate. - Answer A. Present interest in real estate.
Fee simple absolute is an example of a present interest in real estate. It is the highest form of
ownership recognized by laws and is for an uncertain duration, meaning the owner doesn?t
know how long he/she will own it.
A municipality wants to build a public parking garage on Leila's land. Which of the following
statements about the municipality is true?
A. It may condemn and seize Leila's property without compensating her.
B. It must pay Leila treble damages for her property based on an estimate of value prepared by
a licensed appraiser.
C. It may seize Leila's property only if a majority of voters passes a referendum to do so.
