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Pennsylvania Real Estate Commission PA Salesperson State Sample Questions:

1. Which of the following conditions MUST be met before a licensee participates in the sale of real property in which the licensee has an ownership interest?

A) The licensee must provide written disclosure of the ownership interest to all parties.
B) The Pennsylvania Real Estate Commission must be notified of the transaction.
C) The listing agreement must identify the licensee's name and status as a licensee.
D) The percentage of the licensee's ownership interest must be stated on the sales contract.

2. Why is the following advertisement placed by a salesperson employed by ABC Realty, in violation of Pennsylvania Rules?
"Harrisburg $200,000 SUPER BUY Cozy 3br, 2 1/2 bath Cottage, near bus. For info call 555-9234 (home) or
675-6330 (office). Ask for JOHN DOE."

A) The MLS number is not included in the ad.
B) The salesperson's name appears in the ad.
C) No address is given.
D) The broker's name does not appear in the ad.

3. What is the status of a person's real estate license after a claim has been paid from the Real Estate Recovery Fund to settle a claim against that licensee?

A) Reinstated
B) Inactive
C) Active
D) Suspended

4. A "For Sale by Owner" property owner has offered a flat fee to any licensee who procures a buyer. The owner's terms specify that 50% of the fee is payable upon contract acceptance, with the other 50% payable upon transfer of title. A CORRECT statement about this arrangement is that it is:

A) acceptable if the fee does not exceed the prevailing commission rate.
B) in violation of license law since all compensation must be paid at closing.
C) acceptable if the fee is paid to the employing broker.
D) in violation of license law since compensation for real estate sales can come only from listed properties.

5. According to the Real Estate Commission, which of the following is REQUIRED to hold a real estate license in Pennsylvania?

A) An individual selling five unimproved lots that she owns
B) A home builder selling his brand new houses
C) A bank selling its foreclosed properties
D) An attorney who holds himself out as a provider of brokerage services

Solutions: