Maine Real Estate Salesperson Exam — All Questions

For purposes of Maine's mandatory brokerage relationship disclosure, "residential real property" means real estate consisting of:

• a.a single-family dwelling occupied by the owner as a residence
• b.not less than one nor more than two residential dwelling units
• c.not less than one nor more than eight residential dwelling units
• d.not less than one nor more than four residential dwelling units✓

The statute requires the agency to provide buyers and sellers of residential real property a meaningful written brokerage relationship disclosure form defined by Commission rule, and defines residential real property as one to four residential dwelling units. Cite: 32 M.R.S. sec. 13279.

When must a Maine seller deliver the residential property disclosure statement to the purchaser?

• a.Within three days after the seller accepts the purchaser's offer
• b.No later than the time the purchaser makes an offer to purchase✓
• c.At or before the closing of the transaction on the property
• d.Within five days after the purchase and sale contract is signed

The seller of residential real property must deliver or cause to be delivered the property disclosure statement no later than the time the purchaser makes an offer to purchase, exchange or option the property, or exercises an option to purchase. Cite: 33 M.R.S. sec. 174(1).

A Maine purchaser receives the property disclosure statement three days AFTER making an offer. The purchaser may terminate the resulting contract or withdraw the offer:

• a.within three business days of receipt
• b.within five calendar days after receiving the statement
• c.no later than 72 hours after receipt of the statement✓
• d.at any point up to the closing date named in the contract

If the disclosure statement is delivered to the purchaser after the purchaser makes an offer, the purchaser may terminate any resulting real estate contract or withdraw the offer no later than 72 hours after receipt of the statement. Cite: 33 M.R.S. sec. 174(2).

A Maine home sells for $400,000. The real estate transfer tax on the deed is:

• a.$2.20 per $500 of value, half on the grantor and half on the grantee✓
• b.$2.20 per $500 of value, paid entirely by the grantor of the deed
• c.$4.40 per $500 of value, half on the grantor and half on the grantee
• d.$1.10 per $500 of value, split evenly between grantor and grantee

Maine imposes the deed transfer tax at $2.20 for each $500 or fractional part of $500 of value, one half on the grantor and one half on the grantee; an additional $3.80 per $500 applies only to value above $1,000,000. Cite: 36 M.R.S. sec. 4641-A(1) (paragraph A as amended by PL 2025, c. 388, Pt. V, sec. 3, effective 11/01/2025).

Under the Maine Commission's rules, information about a listed property's potential flood risk must be conveyed to a buyer:

• a.orally at the first showing and confirmed at the closing table
• b.in writing after the offer is accepted
• c.only when the buyer asks whether the property has ever flooded
• d.in writing prior to or during preparation of an offer✓

A listing licensee, and a licensee in an unlisted transaction, must convey flood risk information in writing to the buyer prior to or during preparation of an offer, including special flood hazard area mapping, past flood events, claims and disaster aid, and must state in writing when the information is unavailable. Cite: 02-039 C.M.R. ch. 410, sec. 19 (rules adopted Oct. 26, 2025).