Maine Real Estate Exam Questions & Answers Correct 100%
The purpose of the Maine Real Estate Commission is to:
A. Sanction licensees who break the law.
B. Promote public understanding and confidence in the business of real estate
brokerage.
C. Make laws that govern the practice of real estate in Maine.
D. Refer all violations of real estate law to the state's Attorney General. - ANSWER-B.
Promote public understanding and confidence in the business of real estate brokerage.
The Maine Real Estate Commission consists of:
A. 4 industry members and 2 public members.
B. 2 industry members and 4 public members.
C. 4 industry members and 4 public members.
D. 2 industry members and 2 public members. - ANSWER-A. 4 industry members and 2
public members.
True or False: The maximum fine that may be imposed by the Maine Real Estate
Commission is $1000 per violation.
A. True
B. False - ANSWER-B. False ($2000)
True or False: If a real estate licensee violates Maine real estate law, his or her real
estate license may be suspended by the Maine Real Estate Commission.
,A. True
B. False - ANSWER-A. True
True or False: If a real estate licensee violates Maine real estate law, his or her real
estate license may be revoked by the Maine Real Estate Commission.
A. True
B. False - ANSWER-A. True
How many industry members serve on the Maine Real Estate Commission?
A. 2
B. 4
C. 6
D. 8 - ANSWER-B. 4
What type of real estate development includes a variety of land uses such as single
family homes, rentals, retail, and recreational space?
A. Townhouse
B. Condominium
C. Homeowners Association
D. PUD (Planned Unit Development) - ANSWER-D. PUD (Planned Unit Development)
Two forms of joint ownership are:
A. Joint Tenancy and Tenants in Common.
B. Condominium and In Severalty.
, C. In Severalty and Joint Tenancy.
D. Timeshare and Cooperative. - ANSWER-A. Joint Tenancy and Tenants in Common.
If property is owner in severalty, it is owned by:
A. Several individuals.
B. One person or corporation.
C. Spouses.
D. Tenants in common. - ANSWER-B. One person or corporation.
The owner of a timeshare generally has rights to the property in what increments of
time?
A. Weeks
B. Months
C. Years
D. Decades - ANSWER-A. Weeks
Chef Tanesha leases space for a restaurant and installs a large gas cook top. In the
absence of a written agreement to the contrary, at the end of the lease, the cook top
belongs to:
A. The landlord.
The purpose of the Maine Real Estate Commission is to:
A. Sanction licensees who break the law.
B. Promote public understanding and confidence in the business of real estate
brokerage.
C. Make laws that govern the practice of real estate in Maine.
D. Refer all violations of real estate law to the state's Attorney General. - ANSWER-B.
Promote public understanding and confidence in the business of real estate brokerage.
The Maine Real Estate Commission consists of:
A. 4 industry members and 2 public members.
B. 2 industry members and 4 public members.
C. 4 industry members and 4 public members.
D. 2 industry members and 2 public members. - ANSWER-A. 4 industry members and 2
public members.
True or False: The maximum fine that may be imposed by the Maine Real Estate
Commission is $1000 per violation.
A. True
B. False - ANSWER-B. False ($2000)
True or False: If a real estate licensee violates Maine real estate law, his or her real
estate license may be suspended by the Maine Real Estate Commission.
,A. True
B. False - ANSWER-A. True
True or False: If a real estate licensee violates Maine real estate law, his or her real
estate license may be revoked by the Maine Real Estate Commission.
A. True
B. False - ANSWER-A. True
How many industry members serve on the Maine Real Estate Commission?
A. 2
B. 4
C. 6
D. 8 - ANSWER-B. 4
What type of real estate development includes a variety of land uses such as single
family homes, rentals, retail, and recreational space?
A. Townhouse
B. Condominium
C. Homeowners Association
D. PUD (Planned Unit Development) - ANSWER-D. PUD (Planned Unit Development)
Two forms of joint ownership are:
A. Joint Tenancy and Tenants in Common.
B. Condominium and In Severalty.
, C. In Severalty and Joint Tenancy.
D. Timeshare and Cooperative. - ANSWER-A. Joint Tenancy and Tenants in Common.
If property is owner in severalty, it is owned by:
A. Several individuals.
B. One person or corporation.
C. Spouses.
D. Tenants in common. - ANSWER-B. One person or corporation.
The owner of a timeshare generally has rights to the property in what increments of
time?
A. Weeks
B. Months
C. Years
D. Decades - ANSWER-A. Weeks
Chef Tanesha leases space for a restaurant and installs a large gas cook top. In the
absence of a written agreement to the contrary, at the end of the lease, the cook top
belongs to:
A. The landlord.
