Maine Real Estate License Practice Exam part 2 Questions & Answers (RATED A+)

65 Marsha and Paula both work for Undertow Realty in Castine. The Designated Broker has decided to practice appointed agency at Undertow Realty. Marsha is the appointed agent to the seller at 68 Puffin Lane. Paula is appointed to the buyers. Which of the following statements is true? a. Marsha and Paula both work for Undertow Realty, therefore they are in dual agency and must disclose that fact, in writing to both the seller and the buyers. b. Only Marsha must disclose dual agency as she represents the seller c. Paula must act as a subagent in this transaction d. Neither Marsha or Paula are in disclosed dual agency - ANSWER-d. Neither Marsha or Paula are in disclosed dual agency .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 - ANSWER-b. Walter is acting as a dual agent and must disclose this in writing to both the buyer and the seller 67 Lester Dowdy has a listing at 77 Olde England Road in Gray. During the time he has the listing, he discovers that the septic system has failed. The seller does not have the money and will not be repairing the septic since this is only a vacation home. What is Lester required to do? a. Amend the property disclosure form b. Since the buyer will most likely do a home inspection, Lester can wait until discovery c. Immediately terminate the listing d. Respect the confidentiality of the seller client and not disclose the material defect - ANSWER-a. Amend the property disclosure form Maine Real Estate License Practice Exam part 2 Questions & Answers (RATED A+)