TRELG - Maine Real Estate Exam Prep - Practice Test 1 questions with answers

TRELG - Maine Real Estate Exam /| /| /| /| /| /|




Prep - Practice Test 1 questions /| /| /| /| /| /|




with answers /|




An independent contractor is:
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A. A licensee operating a "business within a business"
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B. Given health benefits from the brokerage firm
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C. Not required to work 40 hours a week
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D. Both A and C - CORRECT ANSWERS ✔✔D. Both A and C
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When considering which agency to join, a candidate who intends
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to be an independent contractor should consider the company
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Policy and Procedures Manual because it will address:
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A. What hour he must work.
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B. What health insurance and retirement benefits he gets.
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C. The agency relationship policies and practices of the company.
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D. Unemployment insurance for licensees with fewer than 4
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transactions per year. - CORRECT ANSWERS ✔✔C. The agency /| /| /| /| /| /| /| /| /|



relationship policies and practices of the company. /| /| /| /| /| /|




Which of the following real estate industry organizations has a
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Code of Ethics that is to be followed by industry members?
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A. REALTORS
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B. Multiple Listing Service
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,C. Real Estate Licensing Board
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D. State Board of Licensees - CORRECT ANSWERS ✔✔A. REALTORS
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A licensee is paying a monthly fee to the company. The licensee
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MOST LIKELY works for a/an: /| /| /| /|




A. Independent company.
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B. Franchise.
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C. Small brokerage.
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D. Himself/herself. - CORRECT ANSWERS ✔✔B. Franchise
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Which of the following is NOT protected by the Equal Employment
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Opportunity Act? /|




A. A pregnant woman
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B. National origin
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C. Age (40 or older)
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D. Marital Status - CORRECT ANSWERS ✔✔D. Marital Status
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All of the following are real property EXCEPT:
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A. A chained link fence enclosing the backyard.
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B. The weather vane on top of the barn.
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C. The portable basketball hoop in the driveway.
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D. An antique chandelier in the dining room. - CORRECT ANSWERS
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✔✔C. The portable basketball hoop in the driveway.
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,Paul chops down a tree and splits it into firewood. This example of
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real property being changed into personal property is an
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illustration of: /|




A. Severance.
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B. Exclusion.
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C. Conversion.
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D. Variance. - CORRECT ANSWERS ✔✔A. Severance.
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When real property is severed from the land, it becomes personal
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property.


Which of the following is NOT an element of the bundle of rights of
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an owner of property in fee simple absolute?
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A. The right to lease the mineral rights
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B. The right to encumber the property with an easement in gross
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C. The right to sell the air rights
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D. The right to start a foreclosure process - CORRECT ANSWERS
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✔✔D. The right ot start a foreclosure process
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A fixture is considered to be:
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A. Personal property.
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B. Real property.
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C. An item that is easily removed from the real estate.
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D. An item that requires electricity. - CORRECT ANSWERS ✔✔B.
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Real Property /|

, Which of the following would NOT be characterized as a physical
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characteristic of real estate? /| /| /|




A. Heterogeneity
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B. Immobility
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C. Durability
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D. Permanence of Investment - CORRECT ANSWERS ✔✔D.
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Permanence of Investment. /| /| /|




Permanence of investment is an economic characteristic of real /| /| /| /| /| /| /| /| /|



estate. The physical characteristics of real estate are
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heterogeneity, immobility, and durability. Heterogeneity means /| /| /| /| /| /|



every parcel of land is unique; immobility means that ownership is
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transferred but not the land itself; and durability means that the
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improvements may be destroyed but not the land. /| /| /| /| /| /| /|




Fee simple ownership describes:
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A. Future ownership.
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B. Current ownership.
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C. A leasehold estate.
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D. Current possession. - CORRECT ANSWERS ✔✔B. Current
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ownership.


Clarence grants a property in fee simple determinable to Eddie.
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Which of these phrases is most likely to be in the deed?
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A. ...until Eddie dies, then the property reverts to Clarence.
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B. ...so long as Eddie uses the property for religious purposes.
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C. ...for as long as Millie lives then the property reverts to
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Clarence.