Free Maine Real Estate Broker Exam Practice Test

Sample Maine Broker practice questions

Try a few representative questions below. Each includes the correct answer and a short explanation — the same style you'll see in the full practice test.

1. Question 1Commission Disputes and Rescission

   A seller lists their property with Broker A for $500,000. Broker B, a cooperating broker, brings an offer of $490,000 which the seller accepts. The agreed-upon commission is 6%. Broker A is to receive 60% of the commission, and Broker B is to receive 40%. However, the buyer later discovers a significant undisclosed foundation issue, leading to a successful rescission of the contract. What is the most accurate statement regarding the commission earned, assuming the contract was fully executed and then rescinded due to the seller's misrepresentation?

   • A.Broker A and Broker B are entitled to their respective shares of the full 6% commission as the contract was initially accepted.
   • B.No commission is earned by either broker because the sale was rescinded.
   • C.Only Broker B, who brought the offer, is entitled to their share of the commission as they fulfilled their primary duty.
   • D.Broker A and Broker B may be entitled to a pro-rata commission based on the services rendered up to the point of rescission, subject to brokerage policy and broker-agent agreements.(Correct)

   Explanation

   When a contract is rescinded due to seller misrepresentation or a defect that voids the sale, the earning of a commission becomes complex. Generally, a broker earns a commission when they produce a ready, willing, and able buyer on the seller's terms. However, if the sale fails to close due to the seller's fault or a defect that allows the buyer to legally withdraw, the commission may not be fully earned or payable. In cases of rescission, the brokers might be entitled to a commission for services performed, but it's often subject to negotiation, brokerage policy, and the specific terms of the listing agreement, rather than the full amount.

2. Question 2Zoning and Land Use

   A property owner in Maine is seeking to develop a new multi-unit residential building. The property is currently zoned for single-family homes, with a density limit of 4 units per acre. The owner wishes to build a 10-unit building on a 2-acre parcel. What is the most likely outcome if the owner applies for a variance?

   • A.The variance will be granted if the owner agrees to a reduced building height.
   • B.The variance will be automatically granted because the owner proposes to build on two acres.
   • C.The variance will likely be denied as it seeks to increase density beyond the permitted zoning without demonstrating unique hardship.(Correct)
   • D.The variance will be approved if the owner pays a significant impact fee to the municipality.

   Explanation

   A variance is typically granted only when a property owner can demonstrate a unique hardship or practical difficulty that prevents them from using their property in accordance with the zoning ordinance, and that granting the variance will not alter the essential character of the neighborhood. Simply wanting to build more units than zoning allows, even on a larger parcel, does not usually constitute a hardship. The proposed density of 5 units per acre (10 units / 2 acres) exceeds the 4 units per acre limit, making a variance unlikely without a compelling justification.

3. Question 3Agent Duties and Ethics

   A licensed real estate broker in Maine is representing a buyer. The buyer is interested in a property listed by another brokerage. During negotiations, the seller's agent informs the buyer's broker that the seller is extremely motivated and will accept an offer significantly below the asking price if it can close quickly. The buyer's broker, wanting to secure the deal for their client, advises the buyer to submit an offer at 15% below asking price, emphasizing the seller's urgency. The offer is accepted. Later, it's discovered the seller's agent fabricated the seller's motivation to elicit a lower offer. What ethical and legal implications does this situation present for the buyer's broker?

   • A.The buyer's broker has a duty to disclose material facts to their client and should have independently verified the seller's motivation or advised the buyer that the information was provided by the listing agent.(Correct)
   • B.The buyer's broker acted ethically by securing the best possible price for their client, and the seller's agent's misrepresentation is solely their responsibility.
   • C.The buyer's broker should inform their client of the seller's agent's misrepresentation and advise the client to withdraw their offer, absolving themselves of all responsibility.
   • D.The buyer's broker has no ethical or legal obligation, as their duty is only to their client, and they relied on information provided by another agent.

   Explanation

   While the seller's agent engaged in unethical and potentially illegal conduct, the buyer's broker has a fiduciary duty to their client. This includes exercising reasonable care and diligence, which involves not blindly accepting information from other agents, especially when it pertains to a material fact like seller motivation influencing price. The buyer's broker should have advised the buyer that the information came from the listing agent and that its accuracy was not independently verified, or conducted their own due diligence. Failing to do so could be seen as a breach of duty.

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