The validity, reliability, and item characteristics of the Maine Real Estate Licensure Examination were investigated. Its validity was based on its construction; a task analysis was performed on real estate broker and salesperson jobs, items were written by trained personnel; and the test was reviewed by a panel of experts. Differences in scores were noted for respondents from different regions of the state, but no sex differences were noted. (Data on the standard error of measurement, item difficulty, and item discrimination are presented). (MH)