Maine Real Estate Law TRELG Course questions with answers

Maine Real Estate Law TRELG /| /| /| /| /|




Course questions with answers /| /| /|




You are a real estate licensee in Maine. Your friend Andrew, who is
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not a real estate licensee, asks if you will pay him $250 for every
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sales lead he sends you. What do you tell him? - CORRECT
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ANSWERS ✔✔I can't pay referral fees to someone who is not a real
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estate licensee. /|




Elwood holds a Maine auctioneer license. He wants to call bids at
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a real estate auction and take custody of the earnest money from
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the highest bidder. Does Elwood need a real estate license in
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addition to his auctioneer license in order to do this? - CORRECT
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ANSWERS ✔✔Yes /|




What are the maximum penalties that the Maine Real Estate
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Commission may impose for violating real estate license law? - /| /| /| /| /| /| /| /| /| /|



CORRECT ANSWERS ✔✔$2000 per violation plus the amount of
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compensation received in the subject transaction, revocation or /| /| /| /| /| /| /| /|



suspension of license. /| /|




Each industry member of the commission must have been a
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broker or associate broker in Maine for at least how many years
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prior to appointment? - CORRECT ANSWERS ✔✔5 years
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A licensee may be disciplined by the commission for making any
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substantial misrepresentation by omission or commission. May a
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licensee also be disciplined for innocent misrepresentation? -
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, CORRECT ANSWERS ✔✔No. A licensee may not be disciplined for /| /| /| /| /| /| /| /| /| /|



innocent misrepresentation. /|




In addition to fines up to $2000 per violation, suspension or
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revocation of license, what other penalties might the commission /| /| /| /| /| /| /| /| /|



impose? - CORRECT ANSWERS ✔✔Reprimand, require the person
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to comply with terms and conditions and report findings to
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Attorney General. /|




The Director concludes an investigation into wrongdoing by
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licensee Roberta. What three actions may the Director take? -
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CORRECT ANSWERS ✔✔Dismiss, execute a consent agreement, /| /| /| /| /| /| /|



issue a petition for a hearing.
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Marcus has the idea to establish a real estate brokerage ahency
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that only has an internet presence- no "brick and mortar" location.
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Is this allowed? - CORRECT ANSWERS ✔✔No, an agency must
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have a fixed and definite place of business.
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The Remarkable Real Estate Company is expanding to two new
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locations that it will advertise as its branch offices. Does each
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branch office need a license? - CORRECT ANSWERS ✔✔Yes, they
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must be licensed as branch offices.
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Michelle was convicted of embezzlement of clients' funds when
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she worked in an accounting office. Is she allowed to own a real
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estate brokerage agency? - CORRECT ANSWERS ✔✔Probably not.
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Owners or officials may not have been convicted of any Class A, B,
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or C crime or any crime which bears directly on the practice of
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real estate./|