US Real Estate Maine Test 8

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Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

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Real Estate — Maine Professional (Real Estate, USA) USA — Maine State Real Estate License — USA

What is this test? for Real Estate Salesperson/Broker prep, USA (national + state law) — Professional (Real Estate, USA) level, USA — Maine.
For adults preparing for Real Estate license in the USA
Section: Real Estate — Maine · Education: Professional (Adult) · Part: Real Estate — Maine · Country: USA · Region: USA — Maine

Finance and real estate acumen covers markets, valuation, contracts, and budget management.

This test is designed to reinforce core concepts and help you succeed on your exams.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

What is a lien?

A) claim against property for debt

B) lease

C) deed

D) offer

Question 2

Agents in Maine answer to which agency?

A) Maine Real Estate Commission

B) FBI

C) State Senate

D) City Council

Question 3

What is a listing agreement?

A) contract to sell a property

B) purchase offer

C) lease

D) deed

Question 4

What is earnest money?

A) commission

B) buyer good-faith deposit

C) tax

D) fee

Question 5

What is a fiduciary duty?

A) loyalty, obedience, care to client

B) dual profit

C) secrecy from client

D) profit first

Question 6

What is dual agency?

A) two brokers

B) no representation

C) buyer only

D) one broker representing both sides

Question 7

What is the Fair Housing Act?

A) tax law

B) zoning code

C) building code

D) bans housing discrimination

Question 8

What is a mortgage?

A) loan secured by property

B) deed

C) lease

D) rent deal

Question 9

What classes are protected in housing?

A) politics

B) age only

C) race, color, religion, sex, handicap, family, national origin

D) income

Question 10

What is redlining?

A) surveying

B) illegal denial by neighborhood

C) appraising

D) mapping

Question 11

What is steering?

A) guiding buyers by race (illegal)

B) showing homes

C) advertising

D) negotiating

Question 12

What is a CMA?

A) survey

B) appraisal

C) inspection

D) comparative market analysis

Question 13

What is an appraisal?

A) listing

B) professional value opinion

C) offer

D) inspection

Question 14

What are the three appraisal approaches?

A) offer, accept, record

B) sales comparison, cost, income

C) list, sell, close

D) show, stage, sell

Question 15

What is a fixed-rate mortgage?

A) short term

B) no interest

C) same rate whole term

D) changing rate

Question 16

What is PITI?

A) a deed

B) a loan type

C) a tax

D) principal, interest, taxes, insurance

Question 17

What is LTV?

A) loan-to-value ratio

B) lease term value

C) listing traffic volume

D) land title verification

Question 18

What is PMI?

A) property tax

B) flood insurance

C) title insurance

D) insurance for low down payments

Question 19

What is escrow?

A) commission

B) neutral third-party holding

C) tax

D) down payment

Question 20

What is a deed?

A) offer

B) lease

C) ownership transfer document

D) loan paper

US Real Estate Maine Test 8

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