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問題一覧
1
Who may assume that the real estate licensee is representing them?
Only consumers who have entered a written agreement with the broker
2
A licensee was convicted of fraud in a real estate transaction. Of the following, who is entitled to collect from the Real Estate Recovery Fund?
Person who lost money because of the licensee’s fraudulent actions
3
A broker lost his license as a result of mishandling trust account funds. When, if at all, may the broker apply for another real estate license?
After 5 years
4
When is a real estate broker permitted to place a For Sale sign on a listed property?
When the seller agrees in writing
5
After the first renewal how many hours of continuing education are required to subsequently renew?
14 hours every two years
6
When does the license period for real estate licensees begin?
June 1 of even years
7
Who issues licenses and registration certificates to individuals who meet specified requirements?
Pennsylvania Department of State
8
What is the maximum penalty for a person who has been cited three times for performing real estate activities without first obtaining a real estate license?
Felony offense and payment of a fine not to exceed $5,000 and/or imprisonment of one to two years.
9
Of the following, who is required to hold a real estate license?
Person listing her mother's home
10
A salesperson has hired an unlicensed assistant. Which of the following is the assistant permitted to perform in Pennsylvania?
Hold an open house for other licensees
11
A buyer makes an offer on a house that is listed by another brokerage company. With the offer the buyer gives a hand-money check that is made payable to the selling company. What should be done with the earnest money check according to the Rules and Regulations?
The real estate company to whom the check is made payable is responsible for depositing it in its escrow account
12
On Thursday evening, a buyer makes an offer to purchase a property and gives the salesperson a check for $3,000 earnest money. The offer is presented to the seller, and then the seller makes a counteroffer. The buyer finally accepts the counteroffer and the acceptance is communicated to the seller on Monday evening. How is the check to be handled between Thursday and Monday evenings?
The broker is responsible for depositing the check by the end of business on Friday.
13
The purpose of the Recovery Fund is to enable
People to get payment of uncollected judgments against licenses.
14
To obtain a salesperson license, a person must
pass an examination
15
The broker wants to hire someone to handle the daily management of the sales office so that the broker can concentrate on other activities. A very competent licensed salesperson who currently works for the broker has been selling for 15 years. The broker wants to hire this person to manage the office. Which of the following is TRUE?
The broker is the manager of the office unless someone else with a broker license is hired as the manager.
16
The broker's license will expire at the end of May. Which of the following is TRUE as of June 1?
The license will be inactive and the broker must cease practice on June 1 if the broker fails to renew it.
17
When a salesperson changes employing brokers, the salesperson should:
Notify the Real Estate Commission in writing
18
A salesperson had an offer from a buyer-customer to purchase a property that was listed exclusively with another real estate company. The salesperson asked the seller to cancel the listing and sign a new listing with the salesperson's company before presenting the offer. This way, the salesperson would earn more money by selling the company's own listing. Which of the following is TRUE?
The salesperson should not attempt to disrupt the exclusive relationship the seller has with the listing broker.
19
You have passed the salesperson's exam and selected a broker with whom you are going to work, but your license hasn't been issued yet. Now your neighbor tells you he needs to list his home and get it sold quickly. How can you help him?
Suggest your neighbor contact the broker you've selected to work for to list his property.
20
The purpose of the real estate license law is to
Ensure that the public interest in protected
21
A buyer is concerned about how much a property will appreciate over the next five years. The salesperson assures the buyer that its value will double in eight years. Which of the following is TRUE?
The salesperson should not have made such a comment
22
An exclusive right-to-lease agreement must include certain information. Which of the following is NOT a requirement?
An automatic renewal clause
23
The landlord has sold his rental home to the state so that a freeway can be built. Although the current tenant's lease has expired, the landlord is allowing the tenant to remain until the building is torn down. The tenant continues to pay the same rent as prescribed in the lease. What kind of tenancy does he tenant have?
Tenancy at Sufferance
24
Under the concept of riparian rights, the owners of property adjacent to navigable rivers or streams have the right to use the water and
May erect a dam across the waterway if the owners on both sides agree
25
What action is legal under the antitrust laws?
A broker's affiliate salespersons allocation market based on the location of homes
26
A property owner enters into a listing agreement with a broker. Another broker obtains a buyer for the house, and the first broker does not receive a commission. The listing agreement between the first broker and the property owner was probably
An open listing
27
What is the cost of constructing a fence 6 ½ feet high around a lot measuring 90 feet by 175 feet, if the cost of erecting the fence is $1.25 per linear foot and the cost of materials is $0.825 per square foot of fence?
$2084
28
Which statement is false regarding the concept of adverse possession?
The person taking possession of the property must compensate the owner at the end of the adverse possession period.
29
A real estate loan that uses both real estate and personal property as collateral is known as a
Growing-equity loan
30
A man believes that he has been the victim of an unfair discriminatory practice committed by a local real estate broker. In accordance with federal regulations, how long does the man have to file his complaint against the broker?
1 year after the alleged discrimination
31
A salesperson is discussing the possibility of listing a seller's home. What information should the salesperson give to the seller before the listing agreement is signed?
Existence of the Real Estate Recovery Fund.
32
A mortgage contingency must include all of the following information EXCEPT
Mortgage payment amount
33
When a buyer and a seller enter into an agreement of sale, the broker is responsible for all of the following EXCEPT
Giving a copy to the mortgage lender
34
When a property is advertised for sale by a salesperson, what information must be included in the ad?
Business name of the broker
35
When a buyer gives the salesperson a check for escrow money, which of the following is TRUE?
The check must be deposited in the broker's escrow account by the end of the next business day after receipt.
36
A broker can be subject to disciplinary action if a salesperson is found guilty of misconduct.
If the broker directed the illegal course of action
37
Estimated statements of closing costs must meet which requirement?
They must be presented to a buyer and seller prior to their signing an agreement of sale
38
Which of the following is TRUE about a salesperson’s license?
The license is issued to the salesperson and can be taken to any broker of the salesperson’s choice
39
A seller offers a $500 bonus to a salesperson who sells the house within 30 days. Which of the following is TRUE?
The salesperson who produces a buyer cannot accept this bonus directly from the seller
40
A broker decides to open a branch office. Which of the following is TRUE?
The broker could open the branch office in her home if there is a separate entrance to the office.
41
If a salesperson is unable to collect from the employing broker a commission that the salesperson has earned, what recourse does the salesperson have to collect his money?
Sue the broker
42
When a salesperson owns the house that she is selling, which of the following is TRUE?
The salesperson must disclose to a prospective purchaser that the salesperson is licensed
43
To be eligible for a broker license, an individual must do all of the following EXCEPT
Be a citizen of the United State
44
A broker is responsible for which of the following activities?
Business that is conducted in branch offices
45
Applicants for licensure must satisfy an education requirement in all of the following areas EXCEPT:
A builder-owner salesperson license
46
An individual has applied for a salesperson license. This person can do which of the following?
Attend the broker’s sales training program
47
The Commission can take which action if a salesperson advertises a property for sale without the owner’s permission?
Suspend the salesperson’s license
48
The Commission has authority to take disciplinary action against:
Campground membership salespersons
49
The Commission has the authority to:
Promulgate Rules and Regulations
50
The Real Estate Commission conducts its activities to:
Protect the public interest