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Free PDF First-grade Pennsylvania Real Estate Commission RePA_Sales_S - PA Salesperson State Exam Vce Format
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Pennsylvania Real Estate Commission PA Salesperson State Exam Sample Questions (Q14-Q19):
NEW QUESTION # 14
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?
Answer: B
Explanation:
Under63 P.S. § 455.803 (Real Estate Recovery Fund), if the Pennsylvania Real Estate Commissionpays out money from the Real Estate Recovery Fund due to a licensee's misconduct, the license is automatically suspended.
* A suspended license means the person cannot legally practice real estate until they reimburse the Recovery Fund for the full amount paid, plus interest.
* This is a consumer protection measure to ensure that licensees who cause financial harm cannot continue practicing until restitution is made.
* Once repayment is made, the licensee must apply for reinstatement, which is not automatic and may require a hearing.
Why the other answers are incorrect:
* Option A (Active):The license does not remain active after a payout from the fund.
* Option B (Inactive):"Inactive" means the licensee voluntarily stopped practicing, which is not the case here.
* Option C (Reinstated):Reinstatement does not occur automatically; the licensee must repay the fund and petition for reinstatement.
NEW QUESTION # 15
According to Pennsylvania license law, the buyer has the right to cancel purchase of which of the following?
Answer: C
NEW QUESTION # 16
A broker has been hired by a buyer to find an investment property. Upon locating a suitable property listed by another firm, the broker MUST:
Answer: B
Explanation:
Under49 Pa. Code § 35.311 (Duties of Buyer's Agent),a buyer's agent must disclose their relationship to the listing broker or seller before providing substantive services.
* This ensures that all parties understand who represents whom in the transaction.
* Failure to disclose agency relationships could result in ethical violations and penalties from the Pennsylvania Real Estate Commission.
Why the other answers are incorrect:
* Option A (Initiate a Title Search):This is typically done by the buyer's attorney or title company,not the real estate broker.
* Option B (Recommend an Inspection):While good practice,it is not legally required under agency law.
* Option C (Disclose Dual Representation):This is incorrect because the broker is not acting as a dual agent in this case.
NEW QUESTION # 17
A salesperson has just obtained the seller's signature on an offer to purchase. When MUST the buyer receive a copy?
Answer: C
Explanation:
Under49 Pa. Code § 35.331 (Written Agreements Generally),all parties must receive a copy of a signed offer within 1 business day of acceptance.
* This ensures that buyers and sellers have full documentation of the transaction.
* Delaying delivery of signed contracts can lead to disputes and potential violations of real estate regulations.
Why the other answers are incorrect:
* Option A (24 Hours):While fast delivery is preferred, thelaw specifically states "1 business day."
* Option C (At Closing):Buyers must receive a copywell before closing.
* Option D (Reasonably Practicable Time):This istoo vagueand does not meet thespecific 1-business- day requirement.
NEW QUESTION # 18
When representing a seller, which of the following is a TRUE statement regarding the duties a licensee owes to the principal?
Answer: C
Explanation:
Alicensee has a fiduciary duty to keep the seller's pricing strategy confidential.
* 49 Pa. Code § 35.292 (Duties of Licensees Generally)states thata licensee must maintain confidentiality of information that could harm their client's negotiating position, including the minimum price the seller would accept.
* Confidentiality extends beyond the duration of the listing agreementunless the seller gives explicit permission to disclose information.
Why the other answers are incorrect:
* Option A (Confidentiality Ends After Listing):Confidentiality continueseven after the contract ends
.
* Option B (Not Disclosing Another Offer):In multiple-offer situations, disclosure may be required based on seller instructions.
* Option D (Commission Disclosure):The broker's commission arrangement isnot requiredto be disclosed to the public.
NEW QUESTION # 19
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