Maine Real Estate Salesperson Exam — All Questions

The principle of contribution states that the value of a component or improvement is measured by:

• a.The raw number of square feet of floor area or land area that the improvement happens to occupy
• b.The owner's personal emotional attachment to and sentimental feelings about that improvement
• c.Its original construction or installation cost in every case, dollar for dollar, with no exception
• d.How much it adds to the overall value of the property, not its cost✓

Under contribution, an improvement is worth the amount it adds to the whole property's market value, which may be more or less than its cost. This principle explains why some renovations do not fully return their expense, a key point in over-improvement analysis.

Under Internal Revenue Code Section 121, a qualifying homeowner may generally EXCLUDE from taxable capital gain:

• a.Up to $250,000 of gain if single, or $500,000 if married filing jointly✓
• b.Up to a full one million dollars of gain on any property at all, at any time and any frequency
• c.All gain on any and every investment or rental property the taxpayer happens to own and sell
• d.Absolutely nothing, because gain on the sale of a home is always fully and entirely taxable

Section 121 lets homeowners who owned and used the home as their principal residence for at least two of the prior five years exclude up to $250,000 of gain (single) or $500,000 (married filing jointly). It applies to a primary residence, not to investment property.

Depreciation recapture on the sale of investment real estate means that:

• a.All of the depreciation deductions previously claimed are simply refunded to the investor in cash
• b.The investor is legally required to physically restore and rebuild the depreciated building itself
• c.Gain from prior depreciation may be taxed, often at a special rate✓
• d.No income tax is ever owed at all on the sale of a property that has previously been depreciated

When depreciated property is sold at a gain, the portion of gain due to depreciation deductions is 'recaptured' and taxed under special rules, reflecting the earlier tax benefit. It is a tax concept, not a requirement to rebuild, and it increases, not eliminates, tax on sale.

Which appraisal approach is generally MOST reliable for a special-purpose property, such as a church or public school, that rarely sells and earns no market income?

• a.The sales comparison approach, which depends on recent sales of similar comparable properties
• b.The income approach, which converts a property's market rental income into an indicated value
• c.The gross rent multiplier method, which relies on typical market rents that these lack entirely
• d.The cost approach✓

Special-purpose properties have few or no comparable sales and generate no market rent, so the cost approach (replacement cost new, less depreciation, plus land) is typically most reliable. Sales comparison lacks comparables and the income/GRM methods need market income these properties do not produce.

The four characteristics an item must have to possess value in the market, often remembered as DUST, are:

• a.Debt, Utility, Supply, and Taxes, a mix of unrelated financing and cost terms rather than value
• b.Demand, Utility, Scarcity, and Transferability✓
• c.Depreciation, Use, Sale, and Title, which describe stages of ownership rather than value itself
• d.Demand, Ownership, Scarcity, and Time, which swaps in two terms that are not part of the concept

For something to have market value it must have Demand (buyers who want it), Utility (usefulness), Scarcity (limited supply), and Transferability (the ability to convey it). The DUST acronym captures these four essentials of value.

Which body issues and regulates real estate licenses in Maine?

• a.The Maine Department of Revenue
• b.The local municipal clerk
• c.The Maine Association of Realtors
• d.The Maine Real Estate Commission✓

Real estate licensing in Maine is administered by the Maine Real Estate Commission, which operates within the Department of Professional and Financial Regulation under 32 M.R.S. Chapter 114. The Commission issues, renews, and disciplines licenses and adopts rules. A trade association such as the Maine Association of Realtors is a private membership group with no licensing authority.

What is the entry-level real estate license in Maine, and how may that licensee practice?

• a.Sales Agent, who must be affiliated with and work under a designated broker✓
• b.Associate broker, who may hold client funds directly
• c.Realtor, granted automatically by joining a board
• d.Broker, who may practice independently

Maine's entry-level license is the Sales Agent. A Sales Agent may perform licensed activity only while affiliated with an agency and supervised by that agency's designated broker. Maine uses a tiered structure in which a Sales Agent may later qualify for Associate Broker and then Broker or Designated Broker, each with additional education and experience.

In a Maine real estate agency, who is ultimately responsible for supervising licensees and handling client trust funds?

• a.The buyer's attorney
• b.Each individual sales agent for their own deals
• c.The Maine Real Estate Commission
• d.The designated broker of the agency✓

Every Maine real estate brokerage agency must have a designated broker who is responsible for the conduct of the agency, the supervision of its affiliated licensees, and the proper handling of client trust funds. Sales agents and associate brokers work under that designated broker, who is accountable to the Commission for the agency's compliance.

Maine requires a licensee to give a consumer written information about brokerage relationships:

• a.Only if the consumer requests it in writing
• b.Only after a purchase-and-sale agreement is signed
• c.In a timely manner, when the licensee first begins to work with the consumer and before confidential information is disclosed✓
• d.Only at the closing table

Maine licensees must provide consumers with the required written disclosure of brokerage relationships in a timely manner, at the outset of the working relationship and before the consumer shares confidential information. The form explains the available relationships so the consumer can decide whether to be represented as a client. The disclosure itself does not create an agency relationship.

Under Maine law, a licensee may act as a disclosed dual agent representing both the buyer and the seller only if:

• a.Both parties give informed written consent to the dual agency✓
• b.The two parties use the same attorney
• c.The agency price is below a statutory limit
• d.The transaction is a new-construction sale

Maine permits disclosed dual agency, in which the same brokerage represents both the buyer and the seller, only with the informed written consent of both parties. Because a dual agent cannot fully advocate for either side, the licensee must not reveal one party's confidential information to the other. Maine agencies often use designated or appointed agents to manage in-house representation.

When a Maine sales agent receives an earnest-money deposit, the funds must be:

• a.Turned over to the agency to be held in the designated broker's trust account✓
• b.Held in cash by the sales agent until closing
• c.Sent directly to the Maine Real Estate Commission
• d.Deposited into the sales agent's personal account

Client funds such as earnest money must be handled through the agency's trust (escrow) account, for which the designated broker is responsible. A sales agent who receives funds must promptly deliver them to the agency, and trust money must be kept separate from personal and business funds. Mishandling trust money is a serious Maine license-law violation.

In a Maine residential sale, what disclosure is the seller generally expected to provide to the buyer about the property?

• a.A property disclosure statement covering items such as water supply, waste disposal, heating systems, and known hazardous materials✓
• b.Nothing, because Maine follows strict caveat emptor
• c.Only the current property tax bill
• d.A federal appraisal report

Maine generally requires the seller of residential property to provide the buyer a property disclosure statement describing known information about items such as the water supply, waste disposal system, heating systems, and any known hazardous materials. Licensees must not help conceal known defects. Complete, honest disclosure protects the consumer and the licensee from later misrepresentation claims.

Which best describes how a person becomes and advances as a licensee in Maine?

• a.Join a Realtor board to receive an automatic license
• b.Complete the required Sales Agent pre-license course and pass the exam, then affiliate with a designated broker, with additional education and experience required to advance to Associate Broker and Broker✓
• c.One exam grants a broker license valid for life
• d.No coursework is required if sponsored

A Maine candidate must complete the required Sales Agent pre-license course, pass the licensing examination, and affiliate with an agency under a designated broker to activate the Sales Agent license. To advance, the licensee completes additional education and gains experience to qualify for Associate Broker and then Broker. Ongoing continuing education is required to renew.

What is the minimum age for a Maine real estate license applicant?

• a.The applicant must have reached age 21 at the time of application
• b.The applicant must have reached age 18 at the time of application✓
• c.There is no minimum age if the designated broker signs the application
• d.The applicant must be 18 to be a sales agent and 21 to be a broker

Maine's general qualifications require that the applicant have reached his or her 18th birthday at the time of application, with the same age floor for every individual license type. Cite: 32 M.R.S. sec. 13191(2).

Maine's general qualifications for an individual real estate license include which educational credential?

• a.An associate degree or 60 college credit hours
• b.No credential; the qualifying course stands in its place
• c.High school graduation or an equivalency certificate✓
• d.A high school diploma earned in the State of Maine itself

Along with the application and fee, proof of legal residence, and a good reputation for honesty, truthfulness, fair dealing and competency, the applicant must be a high school graduate or hold an equivalency certificate. Cite: 32 M.R.S. sec. 13191(4).

A Maine real estate sales agent license is issued for two years and may not be renewed. If the licensee lets it lapse without advancing, when may a new sales agent license be issued?

• a.Immediately, on payment of a reinstatement fee set by the Commission
• b.After one year, if the applicant retakes the sales agent course
• c.After two years, if the applicant passes the associate broker exam
• d.Not within five years of the date the previous license was issued✓

Sales agent licenses are issued for 2 years and may not be renewed, and a new sales agent license may not be reissued within 5 years following the date the previous sales agent license was issued; the Commission may grant waivers for extenuating circumstances. Cite: 32 M.R.S. sec. 13200(4) and (5).

To qualify for a Maine associate broker license, an applicant must have been licensed and affiliated with an agency as a sales agent for:

• a.two years within the five years immediately preceding application✓
• b.one year within the three years immediately preceding application
• c.three years within the seven years immediately preceding the application
• d.two years, with no requirement that the time be recent at all

The applicant must have been a licensed real estate sales agent affiliated with a real estate brokerage agency for 2 years within the 5 years immediately preceding application, and the Commission may not issue the license until 2 years as a sales agent are complete. Cite: 32 M.R.S. sec. 13199(2-A); 02-039 C.M.R. ch. 390, sec. 1(2) (rules adopted Oct. 26, 2025).

A Maine applicant for a broker license must show prior licensure as:

• a.a sales agent for two of the preceding five years
• b.a sales agent or associate broker for any four years
• c.an associate broker for two of the preceding five years✓
• d.an associate broker in Maine or any other state for three years

A broker applicant must have been licensed as an associate broker affiliated with a real estate brokerage agency for 2 years within the 5 years immediately preceding the date of application, and must complete the Broker/Designated Broker Course. Cite: 32 M.R.S. sec. 13198(2)(A).

A Maine candidate finished the Sales Agent Course and passed the licensing examination. How long does the candidate have to apply for the license?

• a.Six months from the date the examination was passed
• b.One year from the date the examination was passed✓
• c.Two years from the date the examination was passed
• d.There is no deadline once the examination has been passed

The application must be filed within one year of the date of passing the examination; separately, the applicant must take and pass the examination within one year of completing the course, each with a minimum grade of 75%. Cite: 02-039 C.M.R. ch. 390, sec. 1(3) (rules adopted Oct. 26, 2025).

How much continuing education must a Maine licensee complete to renew a license?

• a.21 clock hours within the 2 years before the application✓
• b.14 clock hours within the 2 years before the application
• c.30 clock hours within the 3 years before the application date
• d.12 clock hours each year of the biennial license period

As a prerequisite to renewal an applicant must complete 21 clock hours of Commission-approved continuing education within the 2 years before the date of application; agency and company licenses are excluded. Cite: 32 M.R.S. sec. 13197(1).

Of the continuing education hours a Maine licensee needs for renewal, the mandatory core course accounts for:

• a.6 clock hours, with 15 hours of electives remaining
• b.no fixed number; the Commission sets it each renewal cycle
• c.the entire requirement whenever the Commission designates a topic
• d.3 clock hours, with 18 hours of electives remaining✓

The Commission's rule defines the core course as a mandatory 3 clock hour course and requires 3 of the 21 renewal hours to be that core course, leaving 18 elective hours. Cite: 02-039 C.M.R. ch. 370, secs. 2(5) and 8(1); see also 32 M.R.S. sec. 13197(3).

A Maine licensee who has been on inactive status for three years wants to return to active status without taking an examination. The licensee must complete:

• a.21 clock hours of continuing education in the previous biennium
• b.36 clock hours of continuing education in the previous biennium
• c.28 clock hours of continuing education in the previous biennium✓
• d.the full qualifying course over again before reactivating the license

Maine scales the reactivation requirement: 21 hours for up to 2 years inactive, 28 hours for more than 2 but less than 4 years, and 36 hours for more than 4 but less than 6 years; at 6 years or more, only the designated examination will do. Cite: 32 M.R.S. sec. 13196(2).

While a Maine license is on inactive status, the licensee:

• a.need not renew until the license is returned to active status
• b.must still renew biennially but need not meet the education requirement✓
• c.must renew biennially and must still complete 21 clock hours each cycle
• d.keeps the license indefinitely without renewal or continuing education

During inactive status the licensee is required to renew the license biennially, but is not required to maintain a place of business or to meet the continuing education provisions of section 13197. Cite: 32 M.R.S. sec. 13196(1).

Under the Maine Commission's rules, how early may an associate broker file the application for a broker license?

• a.No sooner than 30 days before the initial license term expires✓
• b.No sooner than 90 days before the initial license term expires
• c.At any time after the required course has been completed
• d.Only during the 10 business days following the license expiration

The rule bars an applicant from submitting the broker application any sooner than thirty (30) days before the expiration date of the initial associate broker license term, and the course completion certificate is valid for one year from the completion date. Cite: 02-039 C.M.R. ch. 390, sec. 1(1)(B) and (C) (rules adopted Oct. 26, 2025).

A Maine brokerage agency is providing services to a buyer but has signed no brokerage agreement. Under Maine law that agency is presumed to be acting as:

• a.a subagent of the seller's brokerage agency
• b.a buyer agent, since it is performing buyer services
• c.a transaction broker✓
• d.a disclosed dual agent once an offer is written

Maine presumes a real estate brokerage agency is acting as a transaction broker unless it has agreed in a written brokerage agreement to represent a party as a client; client representation may not be created orally, by implication, or by assumption. Cite: 32 M.R.S. sec. 13282.

Which set of duties does Maine statute impose on a brokerage agency that serves a client under a brokerage agreement?

• a.Honesty, fair dealing and accounting only
• b.Loyalty, confidentiality and reasonable care only
• c.Obedience, disclosure and diligence only
• d.Loyalty, obedience, disclosure, confidentiality, reasonable care, diligence and accounting✓

An agency providing services through a brokerage agreement for a client is bound by the duties of loyalty, obedience, disclosure, confidentiality, reasonable care, diligence and accounting, and may be a seller agent, buyer agent, subagent or disclosed dual agent. Cite: 32 M.R.S. sec. 13272.

A Maine transaction broker learns of a cracked foundation sill while walking the property. The transaction broker:

• a.must disclose it to the buyer in a timely manner✓
• b.may keep it confidential absent a client relationship
• c.must disclose it only if the buyer asks a direct question
• d.must first obtain the seller's written permission to disclose it

A transaction broker represents no one as a client and is not bound by the section 13272 duties, but must still disclose in a timely manner to a buyer all material defects pertaining to the physical condition of the property of which it has actual notice or knowledge. Cite: 32 M.R.S. sec. 13283(2)(B).

Maine permits an agency to act as a disclosed dual agent only:

• a.when the designated broker files a notice with the Commission
• b.with the informed written consent of all parties✓
• c.when separate appointed agents are assigned to each client
• d.if the agency's written company policy allows it, whether or not the clients consent

A real estate brokerage agency may act as a disclosed dual agent only with the informed written consent of all parties, and consent is presumed informed if the party signs an agreement containing the five statements the statute lists. Cite: 32 M.R.S. sec. 13275(1).

A Maine disclosed dual agent may pass relevant information between the two clients EXCEPT:

• a.the condition of the roof as reported by the seller
• b.the identity of the lender the buyer has chosen to use
• c.the seller's willingness to accept less than the asking price✓
• d.the date on which the seller expects to be able to vacate the property

The consent agreement states the dual agent may disclose relevant information gained from one party to the other, except the seller's willingness or ability to take less, the buyer's willingness or ability to pay more, confidential negotiating strategy not in the offer, and each party's motivation. Cite: 32 M.R.S. sec. 13275(1)(C).

What does Maine require of every real estate brokerage agency regarding the relationships it will offer?

• a.A written company policy identifying the relationships it may engage in✓
• b.A relationship election filed with the Commission each license period
• c.A vote of the affiliated licensees at least once every two years
• d.Nothing; the relationship is chosen transaction by transaction

Every real estate brokerage agency must adopt a written company policy that identifies and describes the types of real estate brokerage relationships in which the designated broker and affiliated licensees may engage. Cite: 32 M.R.S. sec. 13277.

A Maine agency appoints one affiliated licensee to the seller and a different one to the buyer in the same sale. The agency and its designated broker are:

• a.dual agents by operation of law once both appointments are made
• b.transaction brokers as to both clients for the rest of the sale
• c.required to withdraw from representing one of the two clients
• d.not dual agents solely because of the appointments✓

An agency and designated broker are not considered dual agents solely because of an appointment; however, an affiliated licensee who personally represents both seller and buyer as clients in a transaction is a dual agent and must follow the disclosed dual agency rules. Cite: 32 M.R.S. sec. 13278(1) and (2).

When appointed agents are used in a Maine agency, knowledge held by one appointed agent is:

• a.imputed to the designated broker but not to the other client
• b.not imputed by operation of law to the other appointed agent✓
• c.imputed to every affiliated licensee in the agency
• d.imputed to the agency, which must then disclose it to both clients

When agents are appointed, each client, the agency and its appointed licensees are considered to possess only actual knowledge and information; there is no imputation of knowledge or information by operation of law among them. Cite: 32 M.R.S. sec. 13278(3).

When must a Maine licensee furnish the Real Estate Brokerage Relationships Form?

• a.At the signing of a written brokerage agreement with the consumer
• b.Before any offer is delivered to the other party in the transaction
• c.At substantive communication by meeting, writing or electronic message✓
• d.Within three business days after the first showing of any property

The licensee must furnish the form when there is substantive communication about a real estate transaction by face-to-face meeting, written communication or electronic communication, discuss its content, ascertain the consumer's intent as to representation, and complete the acknowledgement. Cite: 02-039 C.M.R. ch. 410, sec. 9(2) (rules adopted Oct. 26, 2025).

Which situation does NOT require a Maine licensee to provide the Real Estate Brokerage Relationships Form?

• a.A first meeting with a buyer who is touring a two-unit building
• b.An email exchange with a seller about listing a single-family home
• c.A meeting with a buyer about a condominium unit in a four-unit building
• d.A listing of vacant land that has no residential dwelling unit on it✓

The rule excuses the form where the real estate is land without a residential dwelling unit, land with more than four residential dwelling units, the licensee is acting solely as a principal, the written communication is a solicitation of business, or another licensee has already given the form. Cite: 02-039 C.M.R. ch. 410, sec. 9(3) (rules adopted Oct. 26, 2025).

After a Maine brokerage agreement expires, what does the agency still owe its former client?

• a.Timely accounting and continued confidentiality✓
• b.Loyalty and obedience until the property is sold
• c.Reasonable care and diligence for one full year
• d.Nothing further of any kind once the agreement has expired

After termination, expiration, completion or performance of the brokerage agreement the only surviving duties are accounting in a timely manner for money and property received during the relationship and treating damaging client information as confidential, subject to four listed exceptions. Cite: 32 M.R.S. sec. 13281(2).

Unless the purchase and sale agreement says otherwise, a Maine designated broker must deposit an earnest money deposit received as part of an offer:

• a.within three business days of receiving the deposit
• b.within five business days of acceptance of the offer✓
• c.on or before the next banking day after receiving it
• d.within ten calendar days of the buyer's written offer

An earnest money deposit provided to a designated broker as trustee as part of an offer must be deposited within five (5) business days of acceptance of the offer unless the purchase and sale agreement specifies otherwise; other deposits go in within five business days of receipt. Cite: 02-039 C.M.R. ch. 400, sec. 3(4) (rules adopted Oct. 26, 2025).

How much of the agency's own money may a Maine designated broker keep in the real estate trust account?

• a.None at all; any agency money in the account is commingling
• b.Up to one month of the account's average service charges
• c.Enough to maintain the account, not to exceed $500✓
• d.Enough to maintain the account, not to exceed $1,000

The rule bars commingling but allows deposits by the agency of an amount sufficient to maintain the account, which may not exceed $500. Cite: 02-039 C.M.R. ch. 400, sec. 3(5)(A) (rules adopted Oct. 26, 2025).

After a Maine real estate transaction concludes, remittance of money held by the agency must be made within a reasonable time, but in no event more than:

• a.10 days after the conclusion of the transaction
• b.60 days after the conclusion of the transaction
• c.90 days after the conclusion of the transaction
• d.30 days after the conclusion of the transaction✓

There must be a proper accounting for all money held by the agency, and any remittance must be made within a reasonable time, but not more than thirty (30) days, after the conclusion of the real estate transaction. Cite: 02-039 C.M.R. ch. 400, sec. 3(5) (rules adopted Oct. 26, 2025).

Maine real estate trust account records and supporting documents must be kept for at least:

• a.3 years after the date all funds are disbursed✓
• b.2 years after all funds are disbursed
• c.5 years after the date all funds are disbursed
• d.7 years after the closing of the calendar year involved

The designated broker is responsible for records and supporting documents sufficient to verify the adequacy and proper use of the trust account, maintained at least three (3) years after the date all funds are disbursed. Cite: 02-039 C.M.R. ch. 400, sec. 3(6) (rules adopted Oct. 26, 2025).

Under 32 M.R.S. section 13178, when may a Maine designated broker withdraw the agency's fees from the trust account?

• a.At any point after the purchase and sale contract is signed
• b.Within 30 days after, but not until, consummation or termination✓
• c.Only after the Commission approves the closing statement
• d.At closing, but only if the buyer and seller both sign a release

The designated broker, except for the amount needed to maintain the account, must withdraw all fees due within 30 days after but not until consummation or termination of the transaction, when the broker makes or causes a full accounting to the principal. Cite: 32 M.R.S. sec. 13178.

A Maine agency's real estate trust account checks and bank statements must:

• a.show the designated broker's individual license number
• b.be stamped with the Commission's account approval number
• c.carry the agency's licensed trade name and the words "real estate trust account"✓
• d.be countersigned by a second affiliated licensee of the agency

Trust account checks and bank statements must contain the agency's trade name as licensed by the Commission and must be imprinted with the words "real estate trust account." Cite: 02-039 C.M.R. ch. 400, sec. 3(3) (rules adopted Oct. 26, 2025); see also 32 M.R.S. sec. 13178.

A Maine seller offers to let the agency keep everything above $300,000 as its fee. Under Commission rules this arrangement is:

• a.allowed if the seller signs a written acknowledgement of the terms
• b.allowed only when the agency is acting as a transaction broker
• c.allowed if disclosed at closing
• d.a net listing, which is prohibited✓

A net listing, in which the agency receives as commission all money above a minimum sale price set by the seller, is prohibited by the Commission's minimum standards of practice. Cite: 02-039 C.M.R. ch. 410, sec. 4 (rules adopted Oct. 26, 2025).

When a Maine buyer signs an offer to purchase, the licensee must furnish a copy:

• a.at the time of signature✓
• b.within 24 hours of the signature
• c.when the seller responds to the offer
• d.within five calendar days of signature

A licensee must furnish copies of brokerage agreements, offers, counteroffers and contracts to the person signing at the time of signature, and after written acceptance must deliver legible signed copies of the purchase and sale contract to both parties within a reasonable time. Cite: 02-039 C.M.R. ch. 410, sec. 5 (rules adopted Oct. 26, 2025).

Maine requires that a written brokerage agreement include a statement of:

• a.the agency's average days on market for the previous year
• b.the licensee's commission split with the designated broker
• c.the agency's policy on cooperating with and compensating other agencies✓
• d.the range of commissions charged by other agencies in the same market

Written brokerage agreements must disclose the agency's policy on cooperating with and compensating other agencies, including any policy of not compensating them or not compensating them all in the same manner; an in-house sale incentive for affiliated licensees must also be disclosed. Cite: 02-039 C.M.R. ch. 410, sec. 6 (rules adopted Oct. 26, 2025).

Under Maine's minimum standards of practice, a licensee holding a live offer may tell another prospective buyer:

• a.the price and closing date named in the pending offer
• b.nothing about its terms without the parties' prior written permission✓
• c.the terms of the offer, provided the buyer's name is withheld
• d.the terms, once the seller has verbally indicated an intent to accept

An agency and its affiliated licensees may not disclose any terms of an offer or counteroffer to anyone other than the parties without prior written permission, before withdrawal, expiration or written rejection; buyer names and addresses are not terms of an offer and may not be disclosed. Cite: 02-039 C.M.R. ch. 410, sec. 12(1) (rules adopted Oct. 26, 2025).

How quickly must a Maine affiliated licensee give the designated broker originals or true copies of transaction documents?

• a.Within 24 hours after the document is executed by the parties
• b.Within three business days
• c.By the end of the month in which the document is executed
• d.Within five calendar days after execution of the document✓

An affiliated licensee must provide originals or true copies of all brokerage documents and records prepared in a transaction to the designated broker within five (5) calendar days after execution of the document or record. Cite: 02-039 C.M.R. ch. 410, sec. 13(2) (rules adopted Oct. 26, 2025).

A Maine title company offers a licensee $100 for each buyer the licensee sends to it for title services. The licensee:

• a.may not receive it✓
• b.may receive it after written disclosure to the buyer
• c.may receive it if the designated broker approves the arrangement
• d.may receive it if the buyer is told the fee before the closing date

A licensee may not receive compensation or other valuable consideration from a title company, lender or closing company, or any affiliated employee, for directing a buyer or seller to a company or individual for financing, title or closing services. Cite: 02-039 C.M.R. ch. 410, sec. 21(1) (rules adopted Oct. 26, 2025).

A Maine sales agent wants to affiliate with a second agency while keeping the first affiliation. Maine law provides that:

• a.two licenses may be held if both designated brokers consent in writing
• b.no more than one license may be issued to a person for the same period✓
• c.a second license may be issued for a different county of the State
• d.two licenses may be held if the agencies are under common ownership

No more than one license may be issued to any person for the same period of time, and on a change of employer another license may not issue until the current license is returned or satisfactorily accounted for. Cite: 32 M.R.S. sec. 13191(7).

Maine individual real estate licenses expire:

• a.on the licensee's birthday in each odd-numbered year
• b.two years from the date the license was issued
• c.on December 31st of the biennial period for which they were issued✓
• d.on June 30th of the biennial period for which they were issued

Licenses expire on December 31st, or at such other time as the Commissioner of Professional and Financial Regulation designates, of each biennial period for which the license was issued, except sales agent licenses issued under section 13200. Cite: 32 M.R.S. sec. 13194.

A Maine licensee lets a license lapse for four months and then applies to renew. The director must:

• a.deny the renewal unless the applicant passes the license examination✓
• b.grant the renewal on payment of the fee plus a late penalty
• c.grant the renewal if the applicant shows 21 clock hours of education
• d.place the license on inactive status for the rest of the biennium

The director must deny a renewal license to any applicant whose license has lapsed for more than 90 days unless the applicant passes the license examination designated by Commission rule for that purpose. Cite: 32 M.R.S. sec. 13194.