Free Maine Agency Practice Test — LicenseIQ

Question 1

Which statement about dual agency is correct?

Accepted Answer

Dual agency creates an inherent conflict; with informed written consent, the agent provides limited representation and must keep each party's confidences.

Question 2

A listing where the seller may sell themselves without owing commission, but only the listing broker among agents is protected, is:

Accepted Answer

In an exclusive agency listing, the seller pays no commission on a self-sale, but the listing broker is protected if any broker sells it. (Reclassified to section 6 / CORE.)

Question 3

A seller knows that the basement flooded last spring, but the damage was repaired and is not visible. The seller and listing agent must:

Accepted Answer

Latent (hidden) defects known to the seller or agent must be disclosed; failing to do so can create liability for both.

Question 4

When does an appointed agent become a disclosed dual agent?

Accepted Answer

Section 13278 makes an affiliated licensee who represents both parties a dual agent who must follow the disclosed dual agency rules.

Question 5

A property manager owes fiduciary duties primarily to the:

Accepted Answer

The property manager is the owner's (general) agent and owes fiduciary duties to the owner, while dealing honestly with tenants.

Question 6

Which duty does a seller's agent owe to a buyer who is a customer, not a client?

Accepted Answer

Customers are owed HARD duties - Honesty, Accounting, Reasonable skill and care, and Disclosure of material facts - but not loyalty, obedience or confidentiality.

Question 7

A listing agent knows the seller will accept $20,000 less than list price. A buyer asks, 'Will they take less?' The agent should:

Accepted Answer

The duty of confidentiality bars disclosing information, like the seller's lowest acceptable price, that would harm the client's bargaining position.

Question 8

A deal fails to close after the agency has fully earned its commission. May the agency keep part of the deposit as its fee?

Accepted Answer

Rule 400 §2 bars retaining any part of the deposit for a commission without written authorization from the party charged, even if earned. 'Never' is wrong because written authorization permits it.

Question 9

The fiduciary duty that requires an agent to safeguard and account for all money and property received on behalf of the client is:

Accepted Answer

The duty of accounting requires the agent to track, report on and properly handle all funds and documents belonging to the client.

Question 10

Which information may a disclosed dual agent NOT share with the other party?

Accepted Answer

Section 13275 bars disclosing the seller's willingness to accept less, the buyer's willingness to pay more, confidential negotiating strategy and motivation. Defects must be disclosed.

Question 11

The client a broker represents is the:

Accepted Answer

The principal is the client to whom the agent owes fiduciary duties; a customer is a party the agent works with but does not represent.

Question 12

An agency relationship can be terminated by all of the following EXCEPT:

Accepted Answer

Agency ends by performance, expiration, mutual agreement, operation of law, death or incapacity, or destruction of the property - not by the wish of an unrepresented customer.

Question 13

A person's sales agent license was issued in 2023 and expired unused. When is the earliest a new sales agent license may be issued?

Accepted Answer

Section 13200 bars issuing a new sales agent license until five years after the previous one was issued. Retaking the exam does not shorten that waiting period.

Question 14

When a broker appoints one salesperson to represent the seller and another salesperson in the same office to represent the buyer, this is:

Accepted Answer

Designated agency assigns separate agents within one brokerage; the broker is still a dual agent and written consent is required.

Question 15

For how long must a designated broker review and initial the contracts and disclosure forms prepared by a newly licensed sales agent?

Accepted Answer

Rule 400 §1(5) requires review and initialing of a new sales agent's documents during the first 90 days with the agency. The two-year option confuses this with the license term.

Question 16

A listing expired with a valid 4-month protection clause. One month later, the seller listed in good faith with another agency, which then sold the home to a buyer the first agency had introduced. Can the first agency collect under the clause?

Accepted Answer

Section 13177-A makes the extension unenforceable when the client later engages another agency in good faith. Protection clauses are not void in general; they are limited.

Question 17

An agency pays its own agents a higher split on in-house sales than on cooperative sales. Under Rule 410 §6 it must:

Accepted Answer

Rule 410 §6 requires disclosure of the in-house incentive in the written agreement. The practice is allowed; secrecy is not.

Question 18

When must an agency with a disclosed dual agency policy obtain a client's informed written consent?

Accepted Answer

Rule 410 §7 requires consent at the time of entering into the written brokerage agreement that creates the agent-client relationship.

Question 19

A seller instructs her listing agent not to show the home to buyers of a certain national origin. The agent should:

Accepted Answer

Obedience requires following lawful instructions only. Discriminatory instructions violate fair housing laws and must be refused.

Question 20

An owner who lives in one unit of her two-family home asks her listing agent to advertise the other unit as "no children." Which is correct?

Accepted Answer

5 M.R.S. §4581(4)(B) exempts the owner's rental decision but expressly excludes §4581-A(1)(C) (advertising) and §4581-A(2) (brokers) from the exemption.

Question 21

An agency represents both parties with conflicting interests without their knowledge and consent. It is a(n):

Accepted Answer

Section 13271(14) defines an undisclosed dual agent as one representing conflicting parties without their knowledge and informed consent.

Question 22

A seller has already accepted an offer, and another buyer submits a higher offer. The listing agent should:

Accepted Answer

Listing agents must present all offers through closing, but should not give legal advice about the seller's obligations under the existing contract.

Question 23

A material defect that a seller/agent must disclose is one that:

Accepted Answer

Material defects significantly affect value or would influence a buyer's decision and must be disclosed.

Question 24

At an open house, a buyer begins telling the listing agent the most he could pay. The agent should first:

Accepted Answer

Agents must disclose up front whom they represent so customers don't mistakenly share confidential information - anything the agent learns must be shared with the client.

Question 25

A licensee never signs a buyer agreement but repeatedly gives a buyer negotiating advice and acts on his behalf. An agency relationship may have been created by:

Accepted Answer

Implied agency arises from conduct; the agent then owes full fiduciary duties. Express agency is created by stated agreement, ideally in writing.

Maine real estate agency practice test

1. Which statement about dual agency is correct?

2. A listing where the seller may sell themselves without owing commission, but only the listing broker among agents is protected, is:

3. A seller knows that the basement flooded last spring, but the damage was repaired and is not visible. The seller and listing agent must:

4. When does an appointed agent become a disclosed dual agent?

5. A property manager owes fiduciary duties primarily to the:

6. Which duty does a seller's agent owe to a buyer who is a customer, not a client?

7. A listing agent knows the seller will accept $20,000 less than list price. A buyer asks, 'Will they take less?' The agent should:

8. A deal fails to close after the agency has fully earned its commission. May the agency keep part of the deposit as its fee?

9. The fiduciary duty that requires an agent to safeguard and account for all money and property received on behalf of the client is:

10. Which information may a disclosed dual agent NOT share with the other party?

11. The client a broker represents is the:

12. An agency relationship can be terminated by all of the following EXCEPT:

13. A person's sales agent license was issued in 2023 and expired unused. When is the earliest a new sales agent license may be issued?

14. When a broker appoints one salesperson to represent the seller and another salesperson in the same office to represent the buyer, this is:

15. For how long must a designated broker review and initial the contracts and disclosure forms prepared by a newly licensed sales agent?

16. A listing expired with a valid 4-month protection clause. One month later, the seller listed in good faith with another agency, which then sold the home to a buyer the first agency had introduced. Can the first agency collect under the clause?

17. An agency pays its own agents a higher split on in-house sales than on cooperative sales. Under Rule 410 §6 it must:

18. When must an agency with a disclosed dual agency policy obtain a client's informed written consent?

19. A seller instructs her listing agent not to show the home to buyers of a certain national origin. The agent should:

20. An owner who lives in one unit of her two-family home asks her listing agent to advertise the other unit as "no children." Which is correct?

21. An agency represents both parties with conflicting interests without their knowledge and consent. It is a(n):

22. A seller has already accepted an offer, and another buyer submits a higher offer. The listing agent should:

23. A material defect that a seller/agent must disclose is one that:

24. At an open house, a buyer begins telling the listing agent the most he could pay. The agent should first:

25. A licensee never signs a buyer agreement but repeatedly gives a buyer negotiating advice and acts on his behalf. An agency relationship may have been created by:

Sources