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Pennsylvania Real Estate Commission PA Salesperson State Sample Questions:

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

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

2. An exclusive listing MUST be in writing and it MUST:

A) contain a provision allowing the owner to cancel all exclusive features within 24 hours' notice
B) specify the duration of the listing
C) contain provisions regarding acceptable financing arrangements
D) be signed by the cooperating broker

3. Interest earned on an escrow account is:

A) Equally divided between the listing and selling brokers.
B) Equally divided between the buyer and seller.
C) Payable to the broker holding the deposit.
D) Payable subject to an agreement between the parties.

4. What MUST a salesperson licensee convicted of a felony do?

A) Immediately turn in the real estate license to the Real Estate Commission
B) Discuss the matter with the employing broker to decide what to do
C) Provide the Real Estate Commission with information about the conviction
D) Terminate all real estate activities

5. Licensing law in the Commonwealth of Pennsylvania requires that a real estate salesperson be supervised by a licensed real estate broker or a broker-assigned:

A) Team leader.
B) Associate broker.
C) Salesperson.
D) Transaction coordinator.

Solutions: