Free Maine Real Estate Practice Test (2026) — LicenseIQ

Question 1

Which item is NOT required in a Maine brokerage agreement under 32 M.R.S. §13177-A?

Accepted Answer

Section 13177-A requires the client's signature, terms of services, compensation, expiration date and the agency-client statement. A guaranteed price is not required and could mislead the client.

Question 2

The seller of a rental property collected $1,800 rent for the month on the 1st. Closing is on the 10th, and the seller owns the day of closing (30-day month). What is the rent proration?

Accepted Answer

Daily rent = $1,800 / 30 = $60. Buyer owns days 11-30 = 20 days. 20 x $60 = $1,200, credited to the buyer because the seller collected rent for days the buyer will own.

Question 3

Which statement about FHA-insured loans is correct?

Accepted Answer

FHA loans are made by approved lenders and insured by FHA, with down payments as low as 3.5% and mortgage insurance premium (MIP) required on all FHA loans, for 1-4 family homes.

Question 4

Property taxes are paid in arrears (after the tax period). At a mid-year closing, the seller's share of unpaid taxes appears as:

Accepted Answer

When taxes are paid in arrears, the buyer will pay the full bill later, so the seller is charged (debit) and the buyer credited for the seller's portion.

Question 5

A landlord may terminate a tenancy at will on 7 days' notice for nonpayment when rent is how far in arrears?

Accepted Answer

Section 6002 allows a 7-day notice when the tenant is 7 or more days in arrears. Paying the full amount before the notice expires voids it.

Question 6

Which document allows the buyer to skip nonresident withholding?

Accepted Answer

Section 5250-A exempts a sale when the seller certifies Maine residency under penalty of perjury, among other exemptions. A broker's letter has no effect.

Question 7

A seller says, 'I will pay any broker a 5% commission if they bring me a buyer.' This promise creates a(n):

Accepted Answer

In a unilateral contract only one party is bound (to pay if the act is performed); the other party has no obligation to act. Most real estate contracts are bilateral.

Question 8

An offer or counteroffer becomes a binding contract when:

Accepted Answer

Acceptance must be unconditional and communicated back to the offeror; any change creates a counteroffer instead.

Question 9

A licensee expects a referral fee from a moving company for referring a seller client. The licensee may accept it if the licensee:

Accepted Answer

Rule 410 §19(2) allows referral compensation for services other than title, lending, closing and brokerage, with written disclosure to the payer and the client.

Question 10

When shoreland property with a septic system is sold, what must the seller give the buyer?

Accepted Answer

30-A M.R.S. §4216(1) requires the transferor's written statement covering malfunctions in the 180 days before transfer.

Question 11

A home sells for $520,000 with a 5% commission. The listing broker pays 2.5% to the buyer's broker and splits the listing side 60/40 with the listing salesperson (salesperson gets 60%). How much does the listing salesperson earn?

Accepted Answer

Total = $520,000 x 0.05 = $26,000. Buyer broker gets 2.5% = $13,000, leaving $13,000 for the listing side. Salesperson = $13,000 x 0.60 = $7,800.

Question 12

Under Title 30-A, lots of 40 acres or more:

Accepted Answer

Section 4401(4) counts 40-acre lots unless a municipality opts out by ordinance for parcels entirely outside shoreland areas.

Question 13

After a listing expires, which duties does the agency still owe its former client?

Accepted Answer

Section 13281 ends duties at expiration except prompt accounting and confidentiality. Promotion and offer presentation end with the relationship.

Question 14

The 'Mrs. Murphy' exemption under the federal Fair Housing Act applies to an owner who:

Accepted Answer

The exemption covers owner-occupied 1-4 unit buildings rented without a broker and never permits discriminatory advertising.

Question 15

Is a seller agent required to discover latent defects for a buyer?

Accepted Answer

Section 13273(2) states the seller agent is not required to discover latent defects, and the buyer still has an obligation to inspect. Known defects must still be disclosed.

Question 16

Under Commission rules, when must the licensee provide water, heating and waste disposal information to a buyer?

Accepted Answer

Rule 410 §§15–17 require written disclosure prior to or during preparation of an offer. Oral disclosure does not satisfy the rule.

Question 17

Which Maine fair housing exemption applies to an owner-occupied single-family home?

Accepted Answer

5 M.R.S. §4581(4)(B)(2) exempts renting no more than 4 rooms in an owner-occupied one-family dwelling.

Question 18

A title search is performed primarily to:

Accepted Answer

A title search establishes the chain of title and reveals encumbrances or defects before closing. (Reclassified from section 17 to section 9 / CORE - not NJ-specific.)

Question 19

A mortgage lender offers a salesperson $200 for every client referred. Under RESPA this is:

Accepted Answer

RESPA prohibits kickbacks and unearned referral fees between settlement service providers and real estate licensees, even if disclosed.

Question 20

A borrower paid $3,150 in points on a $210,000 loan. How many points were paid?

Accepted Answer

Points = cost / loan = $3,150 / $210,000 = 0.015 = 1.5 points (1 point = 1% of the loan).

Question 21

A buyer of a unit in a cooperative receives:

Accepted Answer

In a co-op the corporation owns the building; members own shares and a proprietary lease (personal property). Condominium owners receive a deed.

Question 22

Which activity may an unlicensed assistant generally perform?

Accepted Answer

Unlicensed staff may perform clerical tasks like typing licensee-prepared ads, but may not compose ads, negotiate or show property.

Question 23

Which document is recorded in the county records and makes the property collateral for a loan?

Accepted Answer

The mortgage creates the lien and is recorded. The promissory note is the borrower's personal promise to repay and is not recorded.

Question 24

Which test is MOST important in determining whether an item is a fixture?

Accepted Answer

Intention, as shown by the method of attachment, adaptation and any agreement (the M.A.R.I.A. factors), is the controlling test. A written agreement in the sales contract that spells out what stays avoids disputes. Cost and size are irrelevant.

Question 25

Which federal law requires disclosure of the true cost of credit, including APR?

Accepted Answer

The Truth in Lending Act (Regulation Z) requires disclosure of finance charges and the APR. RESPA covers settlement costs.

Maine real estate practice test

1. Which item is NOT required in a Maine brokerage agreement under 32 M.R.S. §13177-A?

2. The seller of a rental property collected $1,800 rent for the month on the 1st. Closing is on the 10th, and the seller owns the day of closing (30-day month). What is the rent proration?

3. Which statement about FHA-insured loans is correct?

4. Property taxes are paid in arrears (after the tax period). At a mid-year closing, the seller's share of unpaid taxes appears as:

5. A landlord may terminate a tenancy at will on 7 days' notice for nonpayment when rent is how far in arrears?

6. Which document allows the buyer to skip nonresident withholding?

7. A seller says, 'I will pay any broker a 5% commission if they bring me a buyer.' This promise creates a(n):

8. An offer or counteroffer becomes a binding contract when:

9. A licensee expects a referral fee from a moving company for referring a seller client. The licensee may accept it if the licensee:

10. When shoreland property with a septic system is sold, what must the seller give the buyer?

11. A home sells for $520,000 with a 5% commission. The listing broker pays 2.5% to the buyer's broker and splits the listing side 60/40 with the listing salesperson (salesperson gets 60%). How much does the listing salesperson earn?

12. Under Title 30-A, lots of 40 acres or more:

13. After a listing expires, which duties does the agency still owe its former client?

14. The 'Mrs. Murphy' exemption under the federal Fair Housing Act applies to an owner who:

15. Is a seller agent required to discover latent defects for a buyer?

16. Under Commission rules, when must the licensee provide water, heating and waste disposal information to a buyer?

17. Which Maine fair housing exemption applies to an owner-occupied single-family home?

18. A title search is performed primarily to:

19. A mortgage lender offers a salesperson $200 for every client referred. Under RESPA this is:

20. A borrower paid $3,150 in points on a $210,000 loan. How many points were paid?

21. A buyer of a unit in a cooperative receives:

22. Which activity may an unlicensed assistant generally perform?

23. Which document is recorded in the county records and makes the property collateral for a loan?

24. Which test is MOST important in determining whether an item is a fixture?

25. Which federal law requires disclosure of the true cost of credit, including APR?

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