Maine License Law
A Maine real estate broker who deposits client funds into their personal account has committed:
AA minor procedural violation
BCommingling, which is a serious license law violation✓ Correct
CAn accounting error requiring correction only
DA violation subject to a written warning only
Explanation
Commingling is the illegal act of mixing client funds with a licensee's personal or business funds. It is a serious violation that can result in license revocation.
Related Maine Maine License Law Questions
- Maine license law requires a broker to supervise affiliated salespersons through which of the following?
- Maine license law requires that a 'team name' used by real estate agents within a brokerage:
- The Maine Real Estate Commission's authority to regulate licensees derives from:
- When a Maine licensee participates in a transaction where they have an undisclosed financial interest, they may face:
- How many hours of pre-license education must a broker candidate complete in Maine?
- Under Maine license law, a broker who allows their license to lapse but continues to practice real estate is:
- A Maine broker who advertises on a website must ensure the website:
- Maine license law requires a licensee to disclose their license status when:
Practice More Maine Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maine Quiz →