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Pennsylvania Real Estate Commission PA Salesperson State Sample Questions:

1. If a licensee advertises prizes as part of a promotion for the sale of real estate, which of the following must be disclosed in the advertisement?

A) The fair market value of the prize.
B) The names of any stores that will exchange the prize.
C) Where the prize was manufactured.
D) How many others have won similar prizes.

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

3. If known, the listing broker MUST disclose which of the following to a prospective buyer?

A) That the seller has accepted a position in another state
B) That the seller's water system is contaminated
C) That the seller's mortgage is assumable
D) That the seller has filed for divorce

4. What MAXIMUM length of time may a salesperson's real estate license be inactive before reactivation ceases to be possible without retaking and passing the licensing examination?

A) 4 years
B) 5 years
C) 3 years
D) 2 years

5. The provisions of the Real Estate Licensing and Registration Act apply to:

A) A trustee who participates in real estate transactions under the authority of a court order.
B) A licensed auctioneer who is auctioning property.
C) An attorney-at-law who participates in real estate transactions on behalf of a client.
D) A real estate licensee selling real estate they own.

Solutions: