Maine Real Estate Law Exam Practice
Questions And Correct Answers (Verified
Answers) Plus Rationales 2026 Q&A
Instant Download Pdf
1. A real estate broker in Maine must have a license to:
A. Sell personal property
B. Sell or lease real property
C. Provide mortgage advice
D. Appraise real estate
Answer: B
Rationale: In Maine, a real estate broker license is required to sell, lease, or offer
real estate for others for compensation. Selling personal property or giving
mortgage advice does not require a broker license.
2. The Maine Real Estate Commission is responsible for:
A. Issuing building permits
B. Licensing and regulating real estate professionals
C. Setting mortgage rates
D. Approving zoning changes
Answer: B
Rationale: The Maine Real Estate Commission oversees licensing, regulation,
and enforcement for real estate brokers, salespeople, and related professionals.
, 3. In Maine, a listing agreement must be:
A. Oral
B. Implied
C. In writing
D. Verbal if under 6 months
Answer: C
Rationale: Maine law requires listing agreements to be in writing to be
enforceable and to clearly outline the terms of the broker-client relationship.
4. Which of the following is an example of a material fact in a real estate
transaction?
A. The color of the paint
B. Presence of foundation cracks
C. The style of light fixtures
D. Choice of landscaping
Answer: B
Rationale: Material facts are information that affects a buyer’s decision.
Structural defects like foundation cracks are material facts that must be
disclosed.
5. A Maine broker receives an earnest money deposit. The broker must:
A. Keep it in a personal account
B. Give it directly to the seller
C. Place it in a trust or escrow account
D. Return it immediately
Answer: C
Rationale: Maine law requires brokers to hold client funds in a separate trust or
escrow account to avoid commingling with personal funds.
6. Which type of agency relationship exists when a broker represents a buyer
exclusively?
A. Dual agency
B. Buyer agency
, C. Seller agency
D. Transaction brokerage
Answer: B
Rationale: Buyer agency occurs when the broker represents only the buyer and
owes fiduciary duties to that client.
7. Dual agency is:
A. Illegal in Maine
B. Permissible with full disclosure and consent
C. When the broker only works with buyers
D. When two brokers compete for the same client
Answer: B
Rationale: Maine allows dual agency if both the buyer and seller are informed
and consent in writing.
8. The statute of frauds requires:
A. All verbal agreements to be enforceable
B. Oral agreements over $500 to be binding
C. Certain contracts, including real estate sales, to be in writing
D. Only leases to be notarized
Answer: C
Rationale: Under the statute of frauds, contracts for the sale of real estate must
be in writing to be enforceable.
9. A deed that guarantees clear title against all defects, even those occurring
before the grantor’s ownership, is a:
A. Quitclaim deed
B. Bargain and sale deed
C. Special warranty deed
D. General warranty deed
Answer: D
Rationale: A general warranty deed provides the broadest protection to the
grantee, covering all title defects regardless of when they arose.
Questions And Correct Answers (Verified
Answers) Plus Rationales 2026 Q&A
Instant Download Pdf
1. A real estate broker in Maine must have a license to:
A. Sell personal property
B. Sell or lease real property
C. Provide mortgage advice
D. Appraise real estate
Answer: B
Rationale: In Maine, a real estate broker license is required to sell, lease, or offer
real estate for others for compensation. Selling personal property or giving
mortgage advice does not require a broker license.
2. The Maine Real Estate Commission is responsible for:
A. Issuing building permits
B. Licensing and regulating real estate professionals
C. Setting mortgage rates
D. Approving zoning changes
Answer: B
Rationale: The Maine Real Estate Commission oversees licensing, regulation,
and enforcement for real estate brokers, salespeople, and related professionals.
, 3. In Maine, a listing agreement must be:
A. Oral
B. Implied
C. In writing
D. Verbal if under 6 months
Answer: C
Rationale: Maine law requires listing agreements to be in writing to be
enforceable and to clearly outline the terms of the broker-client relationship.
4. Which of the following is an example of a material fact in a real estate
transaction?
A. The color of the paint
B. Presence of foundation cracks
C. The style of light fixtures
D. Choice of landscaping
Answer: B
Rationale: Material facts are information that affects a buyer’s decision.
Structural defects like foundation cracks are material facts that must be
disclosed.
5. A Maine broker receives an earnest money deposit. The broker must:
A. Keep it in a personal account
B. Give it directly to the seller
C. Place it in a trust or escrow account
D. Return it immediately
Answer: C
Rationale: Maine law requires brokers to hold client funds in a separate trust or
escrow account to avoid commingling with personal funds.
6. Which type of agency relationship exists when a broker represents a buyer
exclusively?
A. Dual agency
B. Buyer agency
, C. Seller agency
D. Transaction brokerage
Answer: B
Rationale: Buyer agency occurs when the broker represents only the buyer and
owes fiduciary duties to that client.
7. Dual agency is:
A. Illegal in Maine
B. Permissible with full disclosure and consent
C. When the broker only works with buyers
D. When two brokers compete for the same client
Answer: B
Rationale: Maine allows dual agency if both the buyer and seller are informed
and consent in writing.
8. The statute of frauds requires:
A. All verbal agreements to be enforceable
B. Oral agreements over $500 to be binding
C. Certain contracts, including real estate sales, to be in writing
D. Only leases to be notarized
Answer: C
Rationale: Under the statute of frauds, contracts for the sale of real estate must
be in writing to be enforceable.
9. A deed that guarantees clear title against all defects, even those occurring
before the grantor’s ownership, is a:
A. Quitclaim deed
B. Bargain and sale deed
C. Special warranty deed
D. General warranty deed
Answer: D
Rationale: A general warranty deed provides the broadest protection to the
grantee, covering all title defects regardless of when they arose.
