Maine Real Estate License Practice Exam

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Study for the Maine Real Estate License Exam. Get ready with flashcards and multiple choice questions, each offering hints and explanations. Achieve your real estate career goals.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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How long has Appointed Agency been in effect in Maine?

Since 1990
Since 1980
Since 1975
Since 1985

The correct answer is: Since 1975

Appointed Agency has been in effect in Maine since 1975. This model allows designated agents within a brokerage to represent clients while still maintaining their fiduciary duties and responsibilities to that client. It is designed to provide a more personalized level of service, as the designated agents can work with clients more closely and independently, aligning with their interests. Understanding the historical context is crucial, as it delineates how real estate practice and agency relationships have evolved in the state. The establishment of Appointed Agency marked a significant shift from traditional agency relationships, allowing for better alignment of interests during transactions while still adhering to the legal obligations that agents owe their clients. The other options provide dates that precede the inception of Appointed Agency in Maine, which is why they are not applicable.