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Pearson Vue real estate exam Maine latest updated questions and answers
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Pearson Vue real estate exam Mainelatest 2023-2024 updated questions and
answers
Most land uses are subject to regulation of Maine's Mandatory Shoreland Zoning Act
when they are within how many feet of a river, wetland, lake, or ocean? Ans- 250 feet
Most land uses are subject to regulation of Maine's Mandatory Shoreland Zoning Act
when they are within how many feet of certain streams? Ans- 75 feet
The Shoreland Zoning Act is regulated by whom? Ans- Each municipality and enforced
by the local Code Enforcement Officer
In order for a single family residential property to have a subsurface waste disposal
system, what is the minimum square footage for the property size? Ans- 20,000 sq.
feet
If a single family residential property abuts a river, stream, lake, pond or tidal area, it
must have at least how much water frontage? Ans- 100 feet minimum
Who is responsible for inspecting and certifying shoreland properties in organized and
established towns in Maine? Ans- The Local Plumbing Inspector
Which type of agency is the most commonly practiced in Maine? Ans- Appointed
agency
When a licensee is an affiliated agent of a brokerage agency that practices appointed
agency, must he or she notify a client of dual agency? Ans- No, because that agency
practices appointed agency and they are appointed agents to the client.
When a brokerage agency does not practice appointed agency, must the licensee notify
a client of dual agency? Ans- Yes, because there is no appointed agency, and
licensees represent all clients, notice of dual agency must be given and signed for both
seller and buyer clients.
What form must be provided to the consumer at the first substantive communication,
face-to-face, in writing, via e-mail or by any other electronic communication, regarding a
real estate transaction involving a residential one to four unit dwelling? Ans- Real
Estate Brokerage Relationships Form, also known as Form #3
, Must the consumer sign Form #3, The Real Estate Brokerage Relationship Form?
Ans- No, the Maine Real Estate Commission does not require the consumer's signature
on this form.
The following must be included in what type of Brokerage Contract? The signature of
the client to be charged
• The terms and conditions of the brokerage services to be provided • The method or
amount of compensation to be paid
• The date upon which the agreement will expire
• A statement that the agreement creates an agency-client relationship Ans- A
Brokerage Contract with a seller
In Maine, the Carryover Clause caps extending a real estate brokerage agency's right to
a fee following expiration of the brokerage agreement at how many months? Ans- 6
months
Real Estate is defined as: Ans- Land and all appurtenances attached to the land.
An appurtenance is defined as: Ans- Buildings, trees, and rights (such as air rights to
the portion of the neighbor's tree that overhangs your yard, or an easement ("right of
way") over a path to the lakefront). Appurtenances run with the land, and therefore
transfer with the transfer of title and sale of the property.
A freehold estate is when, Ans- someone has an ownership interest in a property.
Present freehold estate means Ans- ownership interest is now
Future Freehold Estate means, Ans- ownership interest won't take place until
sometime in the future
fee/fee simple/fee absolute Ans- The complete ownership of property, without
condition. The largest and highest interest one can possess in real estate.
fee simple determinable Ans- A fee simple estate qualified by a special limitation.
Language used to describe limitation includes the words SO LONG AS, WHILE, or
DURING.
Fee Simple on Condition Subsequent Ans- A fee simple estate that may be ended by
the grantor or the grantor's heirs or a remainderman if named, upon the occurrence or
nonoccurrence of a stated condition Includes the language, .NEVER TO BE USED AS
Life Estate Ans- An interest in real or personal property that is limited in duration to the
lifetime of its owner or some other designated person or persons/TENANT
Community Property States Ans- States that classify all property acquired by either the
husband or the wife during the marriage, with the exception of gifts or inheritance, as
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