Maine Real Estate Law Review Practice Test 2024.

Maine Real Estate Law Review Practice Test 2024. A client must be informed as to the real estate brokerage agency's appointed agency policy and: - correct answer Give written consent to that policy in advance of entering into a brokerage agreement. A disclosed dual agent may disclose any information to one party that the licensee gains from the other party if the information is relevant to the transaction except: - correct answer Confidential negotiating strategy not disclosed in the sales offer as terms of the sale. The Maine Real Estate Commission may not impose disciplinary sanctions when a person is guilty of: - correct answer Innocent misrepresentation. Joanna has been an active associate broker licensee in Maine for 7 years. She may: - correct answer Serve on the Maine Real Estate Commission as an industry member. The Real Estate Brokerage Relationship Form #3 does not need to be provided by a licensee to a prospective buyer: - correct answer Interested in purchasing land without a residential dwelling unit. A licensee must provide a copy of a newly signed listing agreement to his or her designated broker within: - correct answer 5 calendar days after execution of the document. A buyer's agent anticipates receiving a bonus of $3000 from the seller of a property. Which of the following is true? - correct answer The buyer's agent must disclose this bonus in writing to the buyer client. To apply for an associate broker license, the licensee must: - correct answer Attend 60 hours of training. The maximum amount of time that a listing agreement may "carry over" is: - correct answer 6 months.