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28 Cards in this Set
- Front
- Back
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How many members is Pennsylvania Real Estate Commission a. 11 b. 9 c. 5 d. 7 |
a. 11 |
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Which of the following are required by law to be licensed or registered in PA? 1. brokers 2. real estate salesperson 3. Cemetery brokers 4. Cemetery salesperson 5. Campground membership salesperson 6. Timeshare sales person 7. Builder owner sales person |
All 7 listed |
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Any person in the Commonwealth of Pennsylvania who engages in the selling of real estate without a license or registration certificate, or after the suspension or revocation of any such license or registration certificate, shall be guilty of: A. a misdemeanor with fines not to exceed 200 for the first offense B. a summary offense with fines not to exceed $500, plus imprisonment, not exceeding 3 months C. a felony offense with fines not exceed $1000, plus imprisonment, not exceeding 12 months D. no penalty if the accused has had Real Estate Fundamentals and Practice |
B. a summary offense with fines not exceed $500, plus imprisonment, not exceeding three months. |
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Who does not need a real estate license to sell real estate in PA? |
The employees of public utilities acting in the ordinary course of utility - related business, with respect to negotiating the purchase, sale or lease of property and person acting as trustee under the authority or a will, do not need a real estate license to sell real estate in PA |
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In order for a person to serve as a member of the Pennsylvania Real Estate Commission, he/she must be. A. elected by the registered voters of the Commonwealth B. elected by the Pennsylvania State Legislature C. appointed by the Governor of Pennsylvania D. appointed by the President of the Penn. Association of Realtors |
C. - All members of the PA Real Estate Commission are appointed by the Governor of Pennsylvania |
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Applicants for a Pennsylvania Real Estate Salesperson license must meet the following requirements;
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must be 18 years of age and shall have completed 60 hours in real estate instruction |
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The application for a Pennsylvania Real Estate license must be recieved by the PA Real Estate Commission within what period of time after the date upon which the applicant passed the examination? a. three years b. three months c. six months d. one year |
a. - An applicant must apply for the PA Real Estate license within three years of passing the PA state examination |
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Applicants for a Broker's license in Pennsylvania must must meet the following requirements prior to taking the state exam. |
Must be 18 years of age , high school graduate , 240 hours completed in real estate instructions.
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Any licensee whose license remains inactive for a period of ______ years without renewing his license shall, prior to having a license reissued to him, submit to and pass the examination pertinent to the license for which the person is reapplying |
5 years If the license remains inactive for more than five years without renewal, the licensee must take the state exam again and reapply for license
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All of the following must take and pass the PA real State Exam except: a. builder-owner salesperson, cemetery slaesperson, and campground memebership salesperson b. cemetery salesperson and campground membership salesperson c. cemetery broker and PA real estate broker d. PA salesperson, PA real estate broker and cemetery salesperson |
b. cemetery salesperson and campground membership salesperson |
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All of the following MUST be actively supervised and trained by a licensed broker : A. R.Est. salesperson, cemetery salesperson and rental referral agent B. R. Est. salesperson, campground membership sales person and rental listing referral agent. C. campground membership salesperson, time share salesperson and builder owner salesperson D. time- share salesperson, campground membership salesperson, cemetery salesperson and real estate salesperson. |
D- |
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Which of the following statements concerning office requirements for brokers and cemetery brokers is true? A. - license are issued by the PA Department of Labor and Industry B - they may have only one office per county C - the business name must br promenntly displayed in a permanent fashion outside the office D - if the office located in a private residence, the entrance to the office may be accessed from the residence
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C - The business name for brokers and cemetery brokers offices must be prominently displayed in a permanent fashion outside the office |
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True or False
A license for the branch office must be obtained from the Estate Commission |
True |
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True or False
A license for the branch office need not be in the same name as that listed at the main office |
False |
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True or False
Applicable fees for the branch office must be paid in order to receive a branch office license |
True
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True or False
If the license of the broker is suspended or revoked , the branch office license is also teminated |
True |
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The main or branch office of a broker shall be under the direction and supervision of a/an : A - Qualified person B - licensed Salesperson who has passed the PA State Exam C - Broker or Associate Broker Licesed Attorney |
C - Broker or Associate Broker |
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Which of the following must display their current license in a conspicuous place at the main office; A - Broker B - cemetery broker C- both A & B D Neither A nor B |
C - Both Broker and Cemetery Broker
The current license of a broker, cemetery broker of rental listing referral agent shall be displayed in a conspicuous place at the main office |
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The PA Real Estate Commission or its authorized representatives may conduct a routine inspection of the main office or branch office of a broker, cemetery broker or rental listing referral agent no more than how many times a year A - One B - Two C- Three D - Four |
D - Four
No more than four times a year during business hours
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The PA Real Estate Comm. will not authorize relicensure of an individual whose license has been revoked for at least how many years following the revocation begins? A- Two B- Three C-Four D-Five |
D - Five
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Which of the following practices may not take place after the death of a broker with sole proprietorship? A - New licensees may be hired to help expedite the listing agreements B- New listings may not be entered into C- Unexpired listing agreements may be promoted unless the seller of lessor elects to cancel the agreement D- Another licensed broker may take over the deceased brokers business for 90 days
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A - New licensees may NOT be hired to help expedite the listing agreements |
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Which one of the following is NOT correct for an individual who wants to take the brokers examination for PA brokers license? A - Be 21 years of age or older B - High school graduate or have passed a high school general education equivalency examination C - Have worked at least 2 years as a licensed salesperson D - Submit official transcripts evidencing the acquisition of sufficient course credits |
C - Have worked at least 3 years as a licensed salesperson |
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True or False
Before one can sit for the brokers examination for a PA brokers license one must have acquired 24 credits of classroom instructions |
False
Its not 24 credits It is 16 credit |
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True or False
Before one can sit for the brokers examination for PA brokers license one must have acquired 240 hours of classroom instruction |
True |
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True or False
Contracts, commitments and agreements by PA licensees must be in writing |
True |
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True or False
A licensee may not give assurances or advise concerning an aspect or real estate transaction that he knows, or reasonably should be expected to know, is incorrect, inaccurate or improbable |
True |
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True or False
A licensee may participate in a real estate transaction involving property in which he has an ownership interest without disclosing his interest to other parties concerned. |
False
A licensee may not participate in a real estate transaction involving property in which he has an ownership interest unless he first discloses his interest in writing to all parties concened |
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True or False
It is not necessary for a licensee to disclose to a prospective client what the brokers commission will be until the client has signed the agreement of sale |
False
The A licensee shall disclose the following information to a prospective client - seller at the initial interview before the seller enters into a listing agreement ... The brokers commission and the duration of the listing period are negotiable |
