MAINE REAL ESTATE LAW EXAM SCRIPT 2025/2026
QUESTIONS WITH ANSWERS GRADED A+
✔✔Justine wants to open a real estate brokerage agency and call it ReMacks. Do you
think she will be able to do this? - ✔✔No as this name is too similar to ReMax.
✔✔What 5 items must be included in a written brokerage agreement? - ✔✔Signature of
client being charged, terms and conditions, method/amount of compensation, expiration
date, statement that this creates an agency-client relationship
✔✔For a maximum of how many months may a brokerage agreement carry over? -
✔✔6 months unless client subsequently lists with another agency
✔✔What may be deposited in a trust account? - ✔✔Earnest money deposits and all
other money held by it as an agency in which its clients or other persons have an
interest
✔✔What words must be on a check drawn from the trust account? - ✔✔Name of the
agency, and "real estate trust account"
✔✔Broker Joe fires licensee Eduardo. What is Joe required to do with Eduardo's
license? - ✔✔Immediately deliver it to the commission
✔✔Which license must be conspicuously displayed at the agency's place of business? -
✔✔The agency license
✔✔How old must a licensee be? - ✔✔At least 18 years old
✔✔Griffin's legal residence is in South Carolina. May he apply for a Maine license? -
✔✔Yes, you do not have to be a Maine resident to apply for a Maine real estate license.
✔✔Marianna moves from Yarmouth to Cumberland. Within how many days must she
notify the commission of her change of address? - ✔✔10 days
✔✔In order to renew a license, how many clock hours does an associate broker or
broker licensee must have completed in the 2 years prior to renewal? - ✔✔21 hours
✔✔What are two requirements for applying for a broker license? - ✔✔Affiliated with an
agency as an associate broker licensee for 2 of the last 5 years, complete a course of
study
✔✔What are two requirements for applying for an associate broker license? -
✔✔Practiced as a sales agent for the 2 of the last 5 years, complete a course of study
,✔✔What is an associate broker licensee not allowed to do? - ✔✔Serve as Designated
Broker or branch office manager
✔✔What are two requirements for applying for a sales agent license? - ✔✔Complete a
course of study, take a written sales agent exam
✔✔What four roles may an agency assume in Maine? - ✔✔Seller agent, buyer agent,
subagent, disclosed dual agent
✔✔Carmelita is the agent of the seller. After two months on the market, the seller
accepts an offer and the property is under contract. Is Carmelita obligated to continue
marketing the property? - ✔✔No, unless the brokerage agreement so provides
✔✔While the property is under contract, the agent of the seller receives yet another
offer from a different buyer. Must the agent present this offer to the seller? - ✔✔Yes, all
offers must be presented to the seller right up until the minute of closing.
✔✔How must the agent of the seller treat the buyer? - ✔✔Honestly
✔✔Gregory is the agent of buyer Andrea. Gregory is also the agent of another buyer,
Cathy. May Gregory show 14 Myrtle St. to both Andrea and Cathy (at different times, of
course)? - ✔✔Yes, the agent of the buyer is able to promote other properties in which
the buyer is interested to other buyers.
✔✔Buyer agent Eileen knows that her buyer's financing just fell through on a property
which the buyer has under contract. What is Eileen's duty to the seller? - ✔✔Eileen
must report this material fact about the buyer's financial ability to perform the terms of
the transaction.
✔✔What must the real estate brokerage agency receive from all parties in order to act
as a disclosed dual agent in a transaction? - ✔✔Informed written consent
✔✔The parties to a transaction consent to disclosed dual agency. The agent may
disclose information to one party that the agent gains from the other party except for
what information? - ✔✔Willingness or ability of the seller to accept less than the asking
price
Willingness or ability of the buyer to pay more than has been offered
Confidential negotiating strategy not disclosed in the sales offer
Motivation of the seller for selling or the buyer for buying
✔✔Every real estate brokerage agency must have a written policy describing what? -
✔✔The types of relationships in which the Designated Broker and affiliated licensees
, may engage (any combination of agent of the seller, agent of the buyer, subagent,
disclosed dual agent, transaction broker)
✔✔The Designated Broker of Blue Water Realty appoints Sandra to be the buyer agent
for client Zane. What is the relationship of all the other licensees in the Blue Water
Realty to Zane? - ✔✔They have no relationship to Zane as Sandra is appointed to the
exclusion of all other affiliated licensees of Blue Water Realty.
✔✔Samuel is the appointed agent for seller Matilda. Samuel is the appointed agent for
buyer Juan. If Juan wants to buy Matilda's house (they both consent to it, and Samuel's
agency has a policy of allowing disclosed dual agency) what is Samuel's role? -
✔✔Disclosed dual agent
✔✔The Real Estate Brokerage Relationships Form applies to what types of properties?
- ✔✔1 to 4 residential dwelling units (does not include vacant land)
✔✔What two fiduciary duties survive the agency-client relationship? - ✔✔Accounting
and confidentiality
✔✔Unless a consumer signs a written brokerage agreement with the real estate
brokerage agency, what is the role of the agency? - ✔✔Transaction broker
✔✔From what acts is a transaction broker prohibited? - ✔✔Conduct inspection,
investigation or analysis of a property for the benefit of any party
Verify accuracy or completeness of oral or written statements
Promote the interests of either party
✔✔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
QUESTIONS WITH ANSWERS GRADED A+
✔✔Justine wants to open a real estate brokerage agency and call it ReMacks. Do you
think she will be able to do this? - ✔✔No as this name is too similar to ReMax.
✔✔What 5 items must be included in a written brokerage agreement? - ✔✔Signature of
client being charged, terms and conditions, method/amount of compensation, expiration
date, statement that this creates an agency-client relationship
✔✔For a maximum of how many months may a brokerage agreement carry over? -
✔✔6 months unless client subsequently lists with another agency
✔✔What may be deposited in a trust account? - ✔✔Earnest money deposits and all
other money held by it as an agency in which its clients or other persons have an
interest
✔✔What words must be on a check drawn from the trust account? - ✔✔Name of the
agency, and "real estate trust account"
✔✔Broker Joe fires licensee Eduardo. What is Joe required to do with Eduardo's
license? - ✔✔Immediately deliver it to the commission
✔✔Which license must be conspicuously displayed at the agency's place of business? -
✔✔The agency license
✔✔How old must a licensee be? - ✔✔At least 18 years old
✔✔Griffin's legal residence is in South Carolina. May he apply for a Maine license? -
✔✔Yes, you do not have to be a Maine resident to apply for a Maine real estate license.
✔✔Marianna moves from Yarmouth to Cumberland. Within how many days must she
notify the commission of her change of address? - ✔✔10 days
✔✔In order to renew a license, how many clock hours does an associate broker or
broker licensee must have completed in the 2 years prior to renewal? - ✔✔21 hours
✔✔What are two requirements for applying for a broker license? - ✔✔Affiliated with an
agency as an associate broker licensee for 2 of the last 5 years, complete a course of
study
✔✔What are two requirements for applying for an associate broker license? -
✔✔Practiced as a sales agent for the 2 of the last 5 years, complete a course of study
,✔✔What is an associate broker licensee not allowed to do? - ✔✔Serve as Designated
Broker or branch office manager
✔✔What are two requirements for applying for a sales agent license? - ✔✔Complete a
course of study, take a written sales agent exam
✔✔What four roles may an agency assume in Maine? - ✔✔Seller agent, buyer agent,
subagent, disclosed dual agent
✔✔Carmelita is the agent of the seller. After two months on the market, the seller
accepts an offer and the property is under contract. Is Carmelita obligated to continue
marketing the property? - ✔✔No, unless the brokerage agreement so provides
✔✔While the property is under contract, the agent of the seller receives yet another
offer from a different buyer. Must the agent present this offer to the seller? - ✔✔Yes, all
offers must be presented to the seller right up until the minute of closing.
✔✔How must the agent of the seller treat the buyer? - ✔✔Honestly
✔✔Gregory is the agent of buyer Andrea. Gregory is also the agent of another buyer,
Cathy. May Gregory show 14 Myrtle St. to both Andrea and Cathy (at different times, of
course)? - ✔✔Yes, the agent of the buyer is able to promote other properties in which
the buyer is interested to other buyers.
✔✔Buyer agent Eileen knows that her buyer's financing just fell through on a property
which the buyer has under contract. What is Eileen's duty to the seller? - ✔✔Eileen
must report this material fact about the buyer's financial ability to perform the terms of
the transaction.
✔✔What must the real estate brokerage agency receive from all parties in order to act
as a disclosed dual agent in a transaction? - ✔✔Informed written consent
✔✔The parties to a transaction consent to disclosed dual agency. The agent may
disclose information to one party that the agent gains from the other party except for
what information? - ✔✔Willingness or ability of the seller to accept less than the asking
price
Willingness or ability of the buyer to pay more than has been offered
Confidential negotiating strategy not disclosed in the sales offer
Motivation of the seller for selling or the buyer for buying
✔✔Every real estate brokerage agency must have a written policy describing what? -
✔✔The types of relationships in which the Designated Broker and affiliated licensees
, may engage (any combination of agent of the seller, agent of the buyer, subagent,
disclosed dual agent, transaction broker)
✔✔The Designated Broker of Blue Water Realty appoints Sandra to be the buyer agent
for client Zane. What is the relationship of all the other licensees in the Blue Water
Realty to Zane? - ✔✔They have no relationship to Zane as Sandra is appointed to the
exclusion of all other affiliated licensees of Blue Water Realty.
✔✔Samuel is the appointed agent for seller Matilda. Samuel is the appointed agent for
buyer Juan. If Juan wants to buy Matilda's house (they both consent to it, and Samuel's
agency has a policy of allowing disclosed dual agency) what is Samuel's role? -
✔✔Disclosed dual agent
✔✔The Real Estate Brokerage Relationships Form applies to what types of properties?
- ✔✔1 to 4 residential dwelling units (does not include vacant land)
✔✔What two fiduciary duties survive the agency-client relationship? - ✔✔Accounting
and confidentiality
✔✔Unless a consumer signs a written brokerage agreement with the real estate
brokerage agency, what is the role of the agency? - ✔✔Transaction broker
✔✔From what acts is a transaction broker prohibited? - ✔✔Conduct inspection,
investigation or analysis of a property for the benefit of any party
Verify accuracy or completeness of oral or written statements
Promote the interests of either party
✔✔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
