Maine Real Estate Salesperson Exam — All Questions

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.

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.

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).