Free Maine Real Estate Practice Exam

Q1.Under Maine law, a real estate sales agent who receives earnest money from a buyer must deliver those funds to the designated broker within what timeframe?

• A.Within 3 business days of receipt
• B.Within 24 hours of receipt
• C.By the end of the next business day after receipt
• D.Within 5 calendar days of receipt

Q2.When a deed conveying Maine real property is presented for recording at the county Registry of Deeds, which document must accompany the deed to satisfy the Maine Real Estate Transfer Tax requirement?

• A.A completed Maine Real Estate Transfer Tax Declaration (Form RETTD)
• B.A copy of the signed purchase and sale agreement
• C.A Maine Property Tax Exemption Application
• D.A completed Maine Seller's Property Disclosure Statement

Q3.A rectangular lot measures 150 feet by 200 feet. If the lot sold for $12 per square foot, what was the total sale price?

• A.$360,000
• B.$42,000
• C.$4,200
• D.$30,000

Q4.Under Maine's real estate brokerage law, which of the following BEST describes a 'seller agent' as defined in 32 M.R.S. Chapter 114?

• A.A licensee who represents the seller exclusively and owes the seller fiduciary-level duties, including loyalty, confidentiality, and obedience.
• B.A licensee who works with the seller but owes equal duties to both the seller and any prospective buyer.
• C.A licensee who facilitates a transaction without representing either party and owes only honesty duties to the seller.
• D.A licensee appointed by the Maine Real Estate Commission to supervise the listing transaction on behalf of the seller.

Q5.A Maine designated broker discovers that one of their affiliated licensees has been operating a separate real estate team under a name that was never registered with the Maine Real Estate Commission and has been collecting compensation directly from clients into the licensee's personal bank account rather than through the brokerage. Under Maine law (32 M.R.S. §§ 13195 and 13056), which of the following best describes the designated broker's PRIMARY statutory obligation and exposure in this situation?

• A.The designated broker must immediately cease the licensee's activities, self-report the violation to the Maine Real Estate Commission, and may face discipline for failure of supervision, because designated brokers are statutorily responsible for the conduct of affiliated licensees under their license and for ensuring all compensation flows through the brokerage.
• B.The designated broker has no personal liability because the licensee acted independently and outside the scope of their employment; the Commission's disciplinary action is limited solely to the licensee who collected the funds.
• C.The designated broker must notify the Maine Attorney General's office within 10 days and place the improperly collected funds into the brokerage's escrow account pending Commission review, but no self-reporting to the Commission is required.
• D.The designated broker may allow the licensee to continue operating under the unregistered name temporarily as long as the licensee deposits future commissions into the brokerage trust account within 5 business days of receipt.

Q6.When a tenant requests a reasonable accommodation but the disability is not obvious, what can the housing provider legally request?

• A.Reliable third-party verification that the tenant has a disability and that the requested accommodation is necessary — without requiring diagnosis or medical history
• B.The specific diagnosis from the tenant's physician
• C.The tenant's full medical records
• D.Nothing — the provider must accept the request at face value

Q7.A Maine broker is preparing a buyer-brokerage agreement for a new client. Under Maine law, which of the following elements is specifically required to appear in a written buyer-brokerage agreement for it to be enforceable by the broker seeking compensation?

• A.A definite expiration date or termination provision, the compensation arrangement, and a description of the brokerage services to be provided.
• B.A minimum purchase price set by the broker to ensure the buyer qualifies for the agreed commission.
• C.A clause requiring the buyer to waive all rights to designated agency for the duration of the agreement.
• D.Notarization by a Maine notary public to be valid against third-party listing brokers.

Q8.A property manager is preparing lease agreements for a mixed-use building that includes both residential and commercial spaces. Under federal fair housing law, which type of occupancy restriction would be legally permissible?

• A.Limiting occupancy based on maximum number of persons per bedroom according to local housing codes
• B.Restricting occupancy to married couples only
• C.Excluding tenants who receive Section 8 housing assistance
• D.Prohibiting occupancy by families with children under age 5

Q9.Which federal agency is responsible for enforcing lead-based paint disclosure requirements in residential real estate transactions?

• A.Department of Housing and Urban Development (HUD)
• B.Federal Trade Commission (FTC)
• C.Consumer Financial Protection Bureau (CFPB)
• D.Environmental Protection Agency (EPA)

Q10.A buyer is purchasing a lakefront cottage in Maine. The listing agent tells the buyer that no disclosure is needed about the shoreland zoning setback requirements because the structure was built before the zoning ordinance was enacted. Under Maine Shoreland Zoning, what is most accurate?

• A.The structure may be a nonconforming structure, but its legal status and any restrictions on expansion or rebuilding are material facts that should be disclosed.
• B.The agent is correct; pre-existing structures are exempt from all Shoreland Zoning restrictions.
• C.Only the Maine Department of Environmental Protection, not the agent, is required to inform buyers of Shoreland Zoning issues.
• D.Shoreland Zoning setback requirements apply only to commercial properties, not residential cottages.

Q11.In states where attorneys are required to conduct real estate closings, what is the primary reason for this requirement?

• A.To ensure compliance with federal lending regulations
• B.To provide legal protection through the unauthorized practice of law statutes
• C.To guarantee title insurance coverage
• D.To meet federal settlement requirements under RESPA

Q12.In Maine, disclosed dual agency occurs when a single licensee represents which of the following?

• A.Two buyers who are competing to purchase the same property
• B.Both the buyer and the seller in the same real estate transaction
• C.A seller through a listing agreement and a different, unrelated buyer
• D.A licensee who acts only as a facilitator without representing either party

Q13.A buyer is purchasing a cottage on a lake in Maine. The property is located within 250 feet of the normal high-water line. Under Maine's Shoreland Zoning Act, which state agency has primary authority over the minimum shoreland zoning standards that municipalities must adopt?

• A.Maine Department of Environmental Protection (DEP)
• B.Maine Bureau of Parks and Lands
• C.Maine Land Use Planning Commission (LUPC)
• D.Maine Coastal Program administered by the Maine Department of Marine Resources

Q14.Under Maine's real estate brokerage law, a listing agent who represents the seller owes which of the following duties to an unrepresented buyer who is a customer?

• A.Undivided loyalty, full confidentiality, and obedience to the buyer's lawful instructions
• B.Honest dealing, disclosure of material facts about the property, and referral to other professionals when appropriate
• C.The same fiduciary duties owed to the seller client, including advocacy for the buyer's best interests
• D.A duty to negotiate the lowest possible price on the buyer's behalf

Q15.A real estate agent shows only certain neighborhoods to Hispanic clients while showing different areas to white clients. This practice is known as:

• A.Blockbusting
• B.Steering
• C.Redlining
• D.Panic selling