Maine Real Estate License Practice Exam

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Prepare for the Maine Real Estate License Exam with comprehensive quizzes featuring multiple choice questions, flashcards, hints, and detailed explanations. Be exam-ready!

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What can result from a breach of fiduciary duty?

Nothing significant
License revocation only
Legal action may occur
Increased responsibilities

The correct answer is: Legal action may occur

Breach of fiduciary duty can lead to serious consequences, one of which is the potential for legal action. A fiduciary duty is a legal obligation to act in the best interest of another party. In real estate, agents must uphold this duty to their clients, ensuring transparency, honesty, and loyalty. When this duty is violated, clients may feel misled or harmed and may seek legal remedy to address any damages or breaches of trust. This could involve lawsuits for damages or claims against the real estate professional for unethical conduct. The other options do not encapsulate the potential ramifications adequately. The assertion that nothing significant can result overlooks the serious implications and damages that clients can suffer due to a breach. Saying that license revocation is the only outcome fails to acknowledge the possibility of civil lawsuits or financial consequences. Lastly, claiming that a breach leads to increased responsibilities contradicts the nature of fiduciary duty, where trust is compromised rather than expanded. Thus, the best choice correctly identifies the likelihood of legal action as a consequence of a breach of fiduciary duty.