Maine Real Estate Exam #2()Questions & Answers 100% Correct!!

A licensee operating a "business within a business." Not required to work 40 hours a week. - ANSWERAn independent contractor is: The brokerage Policy and Procedures Manual will address the agency relationship policies and the practices of the company. - ANSWERWhen 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 - ANSWERWhich of the following real estate industry organizations has a Code of Ethics that is to be followed by industry members? Franchise. - ANSWERA licensee is paying a monthly fee to the company. The licensee MOST LIKELY works for a/an: Marital Status - ANSWERWhich of the following is NOT protected by the Equal Employment Opportunity Act? The portable basketball hoop in the driveway. - ANSWERAll of the following are real property EXCEPT: Severance. - ANSWERPaul 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 - ANSWERWhich of the following is NOT an element of the bundle of rights of an owner of property in fee simple absolute? Real Property - ANSWERA fixture is considered to be: Permanence of Investment - ANSWERWhich of the following would NOT be characterized as a physical characteristic of real estate? Current ownership. - ANSWERFee simple ownership describes: so long as Eddie uses the property for religious purposes. - ANSWERClarence 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. - ANSWERFee 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. - ANSWERA 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 - ANSWERIn which of these forms may a parent and child own property together? file a petition for partition with the court. - ANSWERSally 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 - ANSWERThe owner of a timeshare generally has rights to the property in what increments of time? limited common element. - ANSWERLawrence owns Unit #12 at Shady Oaks co