Maine real estate age - Study guides, Class notes & Summaries

Maine Real Estate Sales Agent Course - Chapter 1What does the MREC stand for ? - correct answer Maine Real Estate Commission When was the MREC established and by what act? - correct answer Act of Maine Legislature in 1937 What is the policy/mission of the MREC? - correct answer supervise licensees "in a manner to ensure that they meet standards which will promote public understanding and confidence in the business of real estate brockerage" What are the six tools the MREC uses to supe...

Maine Real Estate QuestionsMarth lives on one side of a two-family house. She wants to advertise the other side as non-smoking. Can she legally do so? - correct answer Yes, because the right to smoke is not protected by law. Under the Equal Credit Opportunity Act (ECOA) a lender does not have to offer a loan to: a.) a recipient of food stamps b.) recipient of social security c.) a 90-year-old man looking for a 30-year mortgage d.) a recipient of public assistance with poor credit histor...

Maine Real Estate Exam studyIndependent contractor - correct answer What is the legal relationship of a licensee to an agency Fructus industrials - correct answer Annual crops like corn or lettuce classified as personal property. Seller can harvest fruits of labor only one time after the sale of the property. Also called emblements Fructus naturales - correct answer Apple trees, blueberry bushes. Perennials. Seller can not reenter to harvest. Independent Contractor - correct answer what...

Maine Real Estate Quiz #1Your real estate brokerage agency provides you with health insurance and a car to use while showing property to clients. Are you an independent contractor or an employee? - correct answer employee In the overwhelming majority of real estate brokerage agencies, the licensees are - correct answer independent contractors Which of the following covers such topics as forms, procedures, expenses, contributions, commission schedule, insurance, and safety policies of a rea...

Maine Real Estate Exam studyIndependent contractor - correct answer What is the legal relationship of a licensee to an agency Fructus industrials - correct answer Annual crops like corn or lettuce classified as personal property. Seller can harvest fruits of labor only one time after the sale of the property. Also called emblements Fructus naturales - correct answer Apple trees, blueberry bushes. Perennials. Seller can not reenter to harvest. Independent Contractor - correct answer what...

Maine Real Estate LicenseWho is an employer responsible for directing a(n) as to both what is to be done and how it is to be done? - correct answer Employee Real estate licensees almost always sign an Independent Contractor Agreement with their company they are called what? - correct answer Independent Contractors Every real estate brokerage adopts this document that identifies and describes the types of real estate brokerage relationships in which the broker and affiliated licensees may e...

Maine Real Estate License Already Passed Who is an employer responsible for directing a(n) as to both what is to be done and how it is to be done? Employee Real estate licensees almost always sign an Independent Contractor Agreement with their company they are called what? Independent Contractors Every real estate brokerage adopts this document that identifies and describes the types of real estate brokerage relationships in which the broker and affiliated licensees may engage? Written Compan...

Maine Real Estate Quiz #1Your real estate brokerage agency provides you with health insurance and a car to use while showing property to clients. Are you an independent contractor or an employee? - correct answer employee In the overwhelming majority of real estate brokerage agencies, the licensees are - correct answer independent contractors Which of the following covers such topics as forms, procedures, expenses, contributions, commission schedule, insurance, and safety policies of a rea...

Maine Real Estate LicenseWho is an employer responsible for directing a(n) as to both what is to be done and how it is to be done? - correct answer Employee Real estate licensees almost always sign an Independent Contractor Agreement with their company they are called what? - correct answer Independent Contractors Every real estate brokerage adopts this document that identifies and describes the types of real estate brokerage relationships in which the broker and affiliated licensees may e...

What does the MREC stand for ? - correct answer Maine Real Estate Commission When was the MREC established and by what act? - correct answer Act of Maine Legislature in 1937 What is the policy/mission of the MREC? - correct answer supervise licensees "in a manner to ensure that they meet standards which will promote public understanding and confidence in the business of real estate brockerage" What are the six tools the MREC uses to supervise licensees? - correct answer 1.) Sets educa...