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Maine real estate laws prep questions.
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Maine Real Estate Law Exam Prep! Maine Real Estate License Practice ... Maine Quiz 1 NATIO
61 terms 250 terms 51 terms 164 term
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In Maine, a person without a real estate license may: D.
A. Receive a referral fee.
B. Receive compensation for finding a buyer for a piece
of property.
C. Sell a relative's house and receive a fee not to exceed
5%.
D. Call bids at a real estate auction.
Under Maine law, "real estate brokerage' means: C.
A. The full-time practice of real estate over a two year
period.
B. To act solely for the client of a real estate agency to
the exclusion of other affiliated licensees.
C. A single instance of offering, attempting to conduct, or
conducting real estate services on behalf of another for
compensation.
D. Any entity providing real estate services.
In Maine an agency that has a company policy that B.
permits disclosed dual agency must provide a disclosed
dual agency consent agreement to:
A. The seller as an addendum to the Purchase and Sale
Agreement.
B. Prospective clients at the time of entering into a
brokerage agreement.
C. The Real Estate Commission when opening a new real
estate agency.
D. The settlement agent at closing.
, In Maine, property disclosure must be: D.
A. Signed by the seller.
B. Signed by the agent of the seller.
C. Available on the Multiple Listing Service.
D. In writing.
Jill lists a convenience store with an apartment on the A.
second floor. Jill must ask the seller for disclosure
information on:
A. The location of the private water supply.
B. Gross annual income of the convenience store.
C. The intent of the seller to offer seller financing.
D. How long the seller has operated a store on the
property.
Which of the following must a buyer agent disclose to his C.
client regarding the heating system in a residential
property?
A. The current price per gallon for heating fuel
B. The advisability of replacing electric baseboard heat
C. Malfunctions within the past two years
D. Malfunctions during the time the seller owned the
property
In Maine, information regarding the location of a leach A.
field must be disclosed to the buyer:
A. Prior to or during the preparation of the offer.
B. At the time of the septic inspection.
C. Only if requested in the Purchase and Sale Agreement.
D. Orally during the first showing of the property.
In Maine, a licensee is NOT required to provide a copy of D.
the Real Estate Brokerage Relationships Form to a
prospective buyer or seller:
A. For a property with less than 1 or more than 4
residential dwelling units.
B. If the licensee is acting solely as a principal, not as an
agent for another.
C. When the written communication from the licensee is a
solicitation of business.
D. All of the above.
In Maine, a seller agent's obligations to his or her client B.
would include:
A. Hosting an open house.
B. Presenting additional offers after the property is
securely under contract with a confirmed closing date.
C. Advising the seller on matters pertaining to hazardous
materials on the property.
D. Being present at all showings of the property.
Maine real estate laws prep questions.
Save
Students also studied
Maine Real Estate Law Exam Prep! Maine Real Estate License Practice ... Maine Quiz 1 NATIO
61 terms 250 terms 51 terms 164 term
mmmask Preview jbyron84 Preview jbyron84 Preview taly
In Maine, a person without a real estate license may: D.
A. Receive a referral fee.
B. Receive compensation for finding a buyer for a piece
of property.
C. Sell a relative's house and receive a fee not to exceed
5%.
D. Call bids at a real estate auction.
Under Maine law, "real estate brokerage' means: C.
A. The full-time practice of real estate over a two year
period.
B. To act solely for the client of a real estate agency to
the exclusion of other affiliated licensees.
C. A single instance of offering, attempting to conduct, or
conducting real estate services on behalf of another for
compensation.
D. Any entity providing real estate services.
In Maine an agency that has a company policy that B.
permits disclosed dual agency must provide a disclosed
dual agency consent agreement to:
A. The seller as an addendum to the Purchase and Sale
Agreement.
B. Prospective clients at the time of entering into a
brokerage agreement.
C. The Real Estate Commission when opening a new real
estate agency.
D. The settlement agent at closing.
, In Maine, property disclosure must be: D.
A. Signed by the seller.
B. Signed by the agent of the seller.
C. Available on the Multiple Listing Service.
D. In writing.
Jill lists a convenience store with an apartment on the A.
second floor. Jill must ask the seller for disclosure
information on:
A. The location of the private water supply.
B. Gross annual income of the convenience store.
C. The intent of the seller to offer seller financing.
D. How long the seller has operated a store on the
property.
Which of the following must a buyer agent disclose to his C.
client regarding the heating system in a residential
property?
A. The current price per gallon for heating fuel
B. The advisability of replacing electric baseboard heat
C. Malfunctions within the past two years
D. Malfunctions during the time the seller owned the
property
In Maine, information regarding the location of a leach A.
field must be disclosed to the buyer:
A. Prior to or during the preparation of the offer.
B. At the time of the septic inspection.
C. Only if requested in the Purchase and Sale Agreement.
D. Orally during the first showing of the property.
In Maine, a licensee is NOT required to provide a copy of D.
the Real Estate Brokerage Relationships Form to a
prospective buyer or seller:
A. For a property with less than 1 or more than 4
residential dwelling units.
B. If the licensee is acting solely as a principal, not as an
agent for another.
C. When the written communication from the licensee is a
solicitation of business.
D. All of the above.
In Maine, a seller agent's obligations to his or her client B.
would include:
A. Hosting an open house.
B. Presenting additional offers after the property is
securely under contract with a confirmed closing date.
C. Advising the seller on matters pertaining to hazardous
materials on the property.
D. Being present at all showings of the property.
