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A comprehensive overview of the pa state salesperson test exam for 2025, covering key aspects of real estate licensing and regulations in pennsylvania. It includes multiple-choice questions with verified correct answers, offering valuable insights into the exam's content and format. Particularly useful for individuals preparing for the pa real estate salesperson exam, providing a practical guide to understanding the licensing requirements and regulations.
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of the PA real estate commission are appointed by the Governor." "How many members of the PA real estate commission are required to be licensed real estate
estate commission must be licensed brokers." "A couple signed a purchase agreement for a timeshare. Under what circumstances may they
midnight of the fifth day following the purchase of timeshare, and they may keep gifts received from looking at timeshare."
estate consultant or counselor but appraisal activities are regulated by the State Board of certified real estate appraisers."
share intersts." "If a licensed salesperson or associate broker desires to change employment from one licensed broker to another, what is required in order for the licensee to conduct activities on behalf of the
the commission in writing no later than 10 days after the intended date of change, pay the required fee, and return the current license." "When a claim is settled by a title insurance company, the company acquires all rights and claims
"A real estate salesperson is representing only a buyer in a transaction. Which is a violation of
willing to pay."
"A broker has brought a ready, willing and able buyer buyer to a seller. In most listing contracts,
"A listing contract under which the owner appoints a real estate broker as her exclusive agent for a designated period of time to sell the property , on the owner's stated terms, for a commission is
- CORRECT ANSWER exclusive agency listing. The owner reserves the right to sell without paying anyone a commission if the sale is to a prospect who has not been introduced or claimed by the broker."
agreement of sale must contain disclosure language advising parties of the existence of the real estate recovery fund with a phone number to call for complete details." "What is the maximum penalty that may be imposed on an individual found guilty for the second
$5,000 and imprisonment for a period of 2 years."
"The maximum compensation that will be paid from the real estate recovery fund to satisfy
manages a business which collects rental information for the purpose of referring prospective tenants to rental units or locations of rental units. This does not include employee of public housing authority."
the rules by which all real estate licensees must abide." "The PA Real Estate Commission may undertake an investigation of a licensee based on all of the
The commission may not investigate a random selection of licensees. The real estate commission
"A real estate broker has signed an agency agreement with a tenant who is looking for an apartment to rent. The broker does not charge a fee to prospective tenants but, rather, receives compensation from the landlords. The broker tells a landlord that the prospective tenant could
"An agreement between a broker and a consumer in which the consumer is committed to pay a fee must be in writing, signed by the consumer, and contain all of the following information
employed by the broker to act as sole and exclusive agent of the consumer. WRITTEN AGREEMENTS BETWEEN BROKERS AND CONSUMERS THAT OBLIGATE A CONSUMER TO PAY A FEE, COMMISSION OR OTHER VALUABLE CONSIDERATION MUST CONTAIN INFORMATION AS REQUIRED BY THE THE REAL ESTATE LICENSING AND REGISTRATION ACT. A BROKER, WITH WRITTEN CONSENT OF THE PRINCIPAL, MAY DESIGNATE A LICENSEE TO ACT EXCLUSIVELY AS AN AGENT OF THE SELLER-LANDLORD AND ANOTHER LICENSEE TO ACT EXCLUSIVELY AS AN AGENT OF THE BUYER-TENANT IN THE CASE WHERE A BEROKER SERVES AS DUAL AGENT."
commission. THE REAL ESTATE COMMISSION HAS THE POWER AND AUTHORITY TO ADMINISTER AND ENFORCE THE LICENSE LAW. THE PA ASSOCIATION OF REALTORS IS A TRADE ASSOCIATION WHOSE MEMBERS ARE LICENSEES. THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT GENERALLY HANDLES FAIR HOUSING, NOT LICENSING ISSUES." "If the real estate commission receives a copy of a complaint filed with the PA Human Relations Commission alleging that a licensee has violated a provision of the PA Human Relations Act, what is the waiting period before the real estate commission may proceed with itsown disciplinary
licensee. IN THE EVENT THE PA HUMAN REALTIONS COMMISSION DOES NOT ACT ON A DISCRIMINATION COMPLAINT WITHIN 90 DAYS AFTER IT IS FILED WITH THE PA HUMAN RELATIONS COMMISSION, THE STATE REAL ESTATE COMMISSION MAY PROCEED WITH ACTION AGAINST THE LICENSEE. THE 90-DAY WAITING PERIOD APPLIES ONLY IN INITIAL COMPLAINTS AGAINST THE LICENSEE." "An associate broker is not satisfied with her present real estate company and has decided to change employing brokers. Before the associate broker may begin actively selling for the new
10 days after the intended date of change, pay the required fee, and return her current license to
the commission. WHEN LICENSEES CHANGE EMPLOYING BROKERS, THEY ARE REQUIRED TO NOTIFY THE COMMISSION IN WRITING NO LATER THAN 10 DAYS AFTER THE INTENDED DATE OF CHANGE, PAY THE REQUIRED FEE, AND RETURN THEIR CURRENT LICENSE. THE ASSOCIATE BROKER MAINTAINS A COPY OF THE NOTIFICATION SENT TO THE COMMISSION AS A TEMPORARY LICENSE PENDING RECEIPT OF THE NEW CURRENT LICENSE."
salespersons. BUILDING-OWNER SALESPERSONS ARE LICENSED UNDER REGISTERED BUILDERS. THE OTHER CHOICES, SALESPERSONS, CAMPGROUND MEMBERSHIP SALESPERSONS, AND TIME- SHARE SALESPERSONS MUST BE LICENSED WITH AND SUPERVISED BY A BROKER." "Which ty pe of listing agreement would be required to contain a statement in boldfaced type stating that the broker earns a commission on the sale of property during the listing period even if
right-to-sell. COMMISSION RULES REQUIRE THAT AN EXCLUSIVE RIGHT-TO-SELL LISTING MUST INCLUDE SPECIFIC LANGUAGE IN BOLDFACED TYPE THAT THE OWNER WILL BE OBLIGATED TO PAY THE BROKERAGE FEE EVEN IF THE OWNER SELLS THE PROPERTY WITHOUT THE AID OF THE BROKER. Remember by exclusive (owner) right to sell, owner stills pays commission." "A buyer is interested in seeing a house listed with XYZ realty but does not want to enter into an
is given a consumer notice and disclosure stating that LM realty represents the seller. THE SELLER MUST CONSENT IN WRITING IN ORDER FOR THE LISTING BROKER TO EXTEND AN OFFER OF SUBAGENCY. THE COOPERATING BROKER ACTING AS A SUBAGENT MUST PROVIDE THE CONSUMER NOTICE AND APPROPRIATE DOCUMENTATION TO THE BUYER PROSPECT. THE BUYER IS NOT THE ONE TO AGREE TO SUBAGENCY."
commission rate. A BROKER'S COMPENSATION IS NEGOTIATED BETWEEN THE PARTIES. MISLEADING ADVERTISING IS PROHIBITED AND BEING CONVICTED OF A FELONY COULD RESULT IN REVOCATION OF THE BROKER'S LICENSE."
rules by which all real estate licensees must abide. THE PA REAL ESTATE COMMISSION ADMINISTERS AND ENFORCES LAWS GOVERNING THE CONDUCT OF LICENSEES. THE STAT6E
language giving the broker authority to execute an agreement of sale. The broker may not require a cancellation notice to terminate the listing at the end of a 6-month period."
payments of money received by the broker on account of a sale shall be held by the broker in escrow pending consummation or termination of the transaction. ALL LISTINGS MUST CONTAIN INFORMATION ABOUT THE EXISTENCE OF THE REAL ESTATE RECOVERY FUND. THERE IS NO REQUIREMENT THAT COMMERCIAL LISTINGS BE AN EXCLUSIVE RIGHT-TO-SELL CONTRACT. THE BROKER MAY NOT REQUIRE NOTIFICATION TO TERMINATE THE LISTING. REQUIREMENTS GOVERNING INCLUSIONS AND EXCLUSIONS IN LISTING AGREEMENTS COVER BOTH RESIDENTIAL AND COMMERCIAL PROPERTY LISTINGS WITHOUT DISTINCTION."
location and rent. THE ONLY FUNCTION OF THE RENTAL LISTING REFERRAL AGENT IS TO FURNISH THE PROSPECTIVE TENANT WITH LISTS OF AVAILABLE RENTAL UNITS." "A property owner wants to list his property for sale with a broker but does not want to sign an
terms of the agreement. COMMISSION RULES PROVIDE FOR ORAL OPEN LISTINGS WITH SELLERS, PROVIDED CERTAIN CONDITIONS ARE MET. OPEN ORAL LISTINGS MAY BE USED TO CREATE AGENCY RELATIONSHIP. THE STATUTE OF FRAUDS DOES NOT APPLY TO LISTING CONTRACTS." "How accurate are statements of estimated cost and return provided by licensee required to be?
- CORRECT ANSWER As accurate as may be reasonably expected of a person having knowledge of and experience in real estate sales. RULES OF THE COMMISSION REQUIRE THAT THE ESTIMATE OF COSTS REQUIRED TO BE PROVIDED TO THE PARTIES BE AS ACCURATE AS REASONABLY BE EXPECTED OF A PERSON HAVING KNOWLEDGE OF AND EXPERIENCE IN REAL ESTATE." "A written summary of the history of all conveyances and legal proceedings affecting a specific
and welfare of the community." "A licensee has an agency representation agreement with a buyer. When showing another company's listing, what obligation does the licensee have to the seller and the agent at the other
and disclose material information about the buyer if presenting an offer." "The Department of housing and urban development estimate that most houses built before
paint."
on the property." "Under the terms of their listing contract, the owners may sell the house themselves and pay no commission. If their agent sells it, a commission will be due. What kind of listing contract do the
"According to the Truth in Lending Act, If any "trigger terms" are used in an ad, all of the following
rebates." "Which Federal law regulates the advertisement of a lender's credit terms (rates, payments, etc)?
- CORRECT ANSWER Reg Z"
the title search."
“A broker is found guilty and ordered to pay monetary damages to a consumer. What timeframe
of proceedings in connection to judgement awarded consumer."
real estate practice in PA." "A builder-owner salesperson is an individual holding a standard or reciprocal license, who is a full-time employee of builder-owner, and authorized on behalf of builder owner to do one or
builder-owner, 2-negotiate the sale or exchange of real estate of the builder-owner 3-lease or rent, or offer to lease, rent or place for rent, real estate of the builder-owner, 4-collect or offer, or attempt to collect, rent for real estate of the builder-owner." "The PA real estate commission may undertake an investigation of a licensee based on all of the
"An individual is found guilty of engaging in business as a broker or salesperson without being
$500, imprisonment for a maximum of 3 months, or both." "The maximum compensation that will be paid from the real estate recovery fund to satisfy
"While negotiating terms of a listing contract with a seller, the seller suggests a listing price significantly below what the salesperson believes the property would sell for in the open market.
salesperson's professional opinion of value and recommend that the property be listed at market value." "The salesperson represents the seller in a transaction. When prospective buyers ask to look at
represents the seller's interest and maintain appropriate documentation of the Disclosure. THE CONSUMER MUST BE PROVIDED WITH THE CONSUMER NOTICE AT THE INITIAL INTERVIEW. THE BEST EVIDENCE IS THE BUYER'S SIGNATURE ON THE FORM, BUT A LICENSEE MAY PROVIDE A SERVICE WITHOUT THE BUYER'S ACTUALLY SIGNING THE DOCUMENT. THE LICENSEE MUST RETAIN APPROPRIATE DOCUMENTATION THAT THE CONSUMER NOTICE WAS PROVIDED."
"The PA Real Estate Commission may take disciplinary action against a licensee when the licensee
"If a licensed salesperson, without the knowledge or consent of the employing broker, violates requirements regarding delivery of a Consumer Notice at the initial interview, what are the
revoked. THE SALESPERSON'S FAILURE TO PROVIDE THE CONSUMER NOTICE AT THE INITIAL INTERVIEW IS A VIOLA;TION OF THE LICENSE LAW. LICENSEES ARE SUBJECT TO DISCIPLINARY ACTION BY THE COMMISSION, INCLUDING POSSIBLE SUSPENSION OR LICENSE REVOCATION."
high school graduate or passed the high school equivalency exam. THERE IS NO RESIDENCY REQUIREMENT, AND CANDIDATES MAY POSSESS EDUCATION OR ECPERIENCE THAT THE COMMISSION CONSIDERS EQUIVALENT TO 3 YEARS EXPERIENCE AS A LICENSED SALESPERSON."