Maine Real Estate License Practice Exam

If Iris Clover has been an active Associate Broker licensee in Maine for nine years, what may she do?

1. Open her own real estate brokerage company

2. Serve on the Maine Real Estate Commission as an industry member

3. Not apply for the broker license for 1 more year

4. Not provide a broker price opinion for a bank

The correct answer is: Serve on the Maine Real Estate Commission as an industry member

The correct choice, serving on the Maine Real Estate Commission as an industry member, is valid because it reflects the qualifications needed to participate effectively in regulatory and governance roles within the real estate industry. In Maine, individuals with experience like Iris Clover’s, who has been an active Associate Broker for nine years, are typically eligible to serve on the Commission. Their practical experience and knowledge of the industry contribute valuable insights into the Commission’s work, which includes overseeing real estate practices, ensuring compliance with regulations, and protecting consumer interests. The other options present certain limitations. While opening her own real estate brokerage company may seem plausible, an Associate Broker would need to upgrade to a full Broker license to do so in Maine. Therefore, the option stating she may not apply for the broker license for one more year is misleading; with her experience, she is likely eligible to apply for a Broker license now. Lastly, the statement about her not being able to provide a broker price opinion for a bank does not align with her qualifications, as licensed brokers, particularly with her extensive experience, generally have the authority to perform such evaluations.