Maine Law Exam Flash Cards TRELG

Maine Law Exam Flash Cards TRELG What is a branch office? A location where business is regularly conducted or that is advertised as where the public may contact the agency. What is the maximum fine that LUPC (Land Use Planning Commission) can impose for a violation? $10,000 per day How old must you be to apply for a real estate license in Maine? 18 years old Shoreland areas include area within how many feet of the normal high-water line of a great pond? 250 feet For how many hours must you attend classroom training in order to apply for an associate broker license? 60 hours Who is responsible for the management of the Maine Real Estate Commission affairs? The Director How must a real estate brokerage agency's trade name be displayed in advertising? Prominently displayed Shoreland areas include area within how many feet of the high-water line of a stream? 75 feet What level of real estate license may only be granted after the licensee has completed 2 years as a licensed real estate sales agent? Associate Broker What type of listing is prohibited in Maine? Net listing How many hours of continuing education must an associate broker complete in a two year period? 21 hours For what period of time must a designated broker retain copies of paperwork associated with a closed real estate transaction? 3 years Whose duty is it to oversee all advertising placed by any affiliated licensee of an agency? The Designated Broker How many public members serve on the Maine Real Estate Commission? 2 What is the maximum fine that may be assessed by the Maine Real Estate Commission? $2000 per violation Whose duty is it to oversee the filing, storage and maintenance of real estate documents? The Designated Broker What grade must you receive in the Sales Agent Course in order to pass the course? 75% or above What does it mean to commingle funds? Mixing funds belonging to the real estate brokerage agency with funds belonging to clients and other persons For how many hours must you attend training in order to apply for a sales agent license? 55 hours