PSI Real Estate Salesperson Comprehensive Resource To Help You Ace 2026-2027 Exams Includes
Frequently Tested Questions With ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
The Real Estate Recovery Fund was established to provide
a means for consumers who have obtained a final judg-
Real Estate Recovery Fund
ment in the court, but are unable to collect, a means to col-
lect compensation through the Real Estate Commission.
The Real Estate Commission has the authority to conduct
a hearing in response to an alleged complaint. As a result Maintain records, even if no disciplinary actions were tak-
of a hearing, the Commission may do all of the following en against a licensee
except:
Administer and enforce the laws that govern the conduct
An authorized power of the Real Estate Commission is to:
of licensees
The Real Estate Commission has the statutory authority
to administer and enforce the laws governing the con-
duct of all licensees. The Department of State contracts
the services of a third party testing service to create and
Real Estate Commission administer the examination. The Real Estate Commission
has not been granted any statutory authority to interview
members of the public. It is the Department of State that
issues all real estate licenses not the Real Estate Commis-
sion.
A real estate license is required to perform a broker price
opinion for another for a fee. An auctioneer, investor, or
License Law
attorney-at-law would be exempt from obtaining a real
estate license, per Pennsylvania licensing law.
The real estate license of a salesperson must be: Maintained in the employing broker's oflce
According to Pennsylvania License Law, a salesperson may The broker designated on the salesperson's current li-
be employed by: cense
If, after changing employing brokers, the salesperson
accept the responsibility to notify the Commission that he
does not receive his new license within 30 days, the sales-
has not received the license
person should:
1/9
, Licensed salespersons may receive compensation, bonus
Their employing broker
or commission from which of the following people?
The Pennsylvania Human Relations Commission allows a
person to file a complaint of discrimination with HUD up 1 year
to a maximum of how much time from the alleged act?
If the earnest money deposit is tendered by a buyer di-
rectly to the listing broker instead of the selling broker, The listing broker shall assume the escrow duty
which of the following is a correct statement?
A broker acting as a transaction licensee would violate the Disclosing that the buyer will agree to financing terms
license law by doing which of the following? other than those ottered
The purpose of disclosing the Real Estate Recovery Fund provide an injured party a way to collect a judgment
is to awarded by the court
When a broker enters into an exclusive right-to-sell listing
agreement with a seller client, the agreement binds the Provide full fiduciary duties to the seller
broker to do which of the following?
When a salesperson is working with a buyer client who
enters into a contract to purchase a time-share interest in He/she has the right to cancel the contract within five days
real estate, the salesperson should inform the buyer client from the date the buyer and seller signed the contract
that:
After many months on the market, a salesperson suc-
cessfully closes a listing. In appreciation for all that was
done, the seller gives the salesperson a $1,500 bonus Ask the seller to pay the bonus to the salesperson's broker
over the previously negotiated commission amount. The
salesperson should:
In a co-brokerage transaction, a salesperson receives an
earnest money deposit check from a purchaser along with Submit the check to the appropriate broker in accordance
an otter to purchase on a listed property. The salesperson with the terms of the agreement of sale
is required to:
2/9
Frequently Tested Questions With ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
The Real Estate Recovery Fund was established to provide
a means for consumers who have obtained a final judg-
Real Estate Recovery Fund
ment in the court, but are unable to collect, a means to col-
lect compensation through the Real Estate Commission.
The Real Estate Commission has the authority to conduct
a hearing in response to an alleged complaint. As a result Maintain records, even if no disciplinary actions were tak-
of a hearing, the Commission may do all of the following en against a licensee
except:
Administer and enforce the laws that govern the conduct
An authorized power of the Real Estate Commission is to:
of licensees
The Real Estate Commission has the statutory authority
to administer and enforce the laws governing the con-
duct of all licensees. The Department of State contracts
the services of a third party testing service to create and
Real Estate Commission administer the examination. The Real Estate Commission
has not been granted any statutory authority to interview
members of the public. It is the Department of State that
issues all real estate licenses not the Real Estate Commis-
sion.
A real estate license is required to perform a broker price
opinion for another for a fee. An auctioneer, investor, or
License Law
attorney-at-law would be exempt from obtaining a real
estate license, per Pennsylvania licensing law.
The real estate license of a salesperson must be: Maintained in the employing broker's oflce
According to Pennsylvania License Law, a salesperson may The broker designated on the salesperson's current li-
be employed by: cense
If, after changing employing brokers, the salesperson
accept the responsibility to notify the Commission that he
does not receive his new license within 30 days, the sales-
has not received the license
person should:
1/9
, Licensed salespersons may receive compensation, bonus
Their employing broker
or commission from which of the following people?
The Pennsylvania Human Relations Commission allows a
person to file a complaint of discrimination with HUD up 1 year
to a maximum of how much time from the alleged act?
If the earnest money deposit is tendered by a buyer di-
rectly to the listing broker instead of the selling broker, The listing broker shall assume the escrow duty
which of the following is a correct statement?
A broker acting as a transaction licensee would violate the Disclosing that the buyer will agree to financing terms
license law by doing which of the following? other than those ottered
The purpose of disclosing the Real Estate Recovery Fund provide an injured party a way to collect a judgment
is to awarded by the court
When a broker enters into an exclusive right-to-sell listing
agreement with a seller client, the agreement binds the Provide full fiduciary duties to the seller
broker to do which of the following?
When a salesperson is working with a buyer client who
enters into a contract to purchase a time-share interest in He/she has the right to cancel the contract within five days
real estate, the salesperson should inform the buyer client from the date the buyer and seller signed the contract
that:
After many months on the market, a salesperson suc-
cessfully closes a listing. In appreciation for all that was
done, the seller gives the salesperson a $1,500 bonus Ask the seller to pay the bonus to the salesperson's broker
over the previously negotiated commission amount. The
salesperson should:
In a co-brokerage transaction, a salesperson receives an
earnest money deposit check from a purchaser along with Submit the check to the appropriate broker in accordance
an otter to purchase on a listed property. The salesperson with the terms of the agreement of sale
is required to:
2/9
