PA REAL ESTATE EVALUATION SET ANSWERS AND
QUESTIONS SET A+
✔✔A listing broker receives an offer secured by another firm. The offer is poorly written
and is on an outdated form. The listing broker
A. Can refuse to present the offer to the seller
B. can demand that the offer be rewritten
C. must present the offer to the seller
D. can reject the offer - ✔✔B. can demand that the offer be rewritten
✔✔In order to work as a property manager for compensation, an individual must
A. complete a certification for property management
B. pass a separate examination in principles of a property management
C. complete at least one course in property management every two years
D. hold a real estate license and, if not a broker, be supervised by a broker - ✔✔A.
complete a certification for property management
✔✔A licensee representing a buyer MUST inform the listing broker or the seller of the
brokerage relationship
A. at the first contract
B. when an offer is written
C. by addendum to the offer
D. in conjunction with discussing the offer - ✔✔D. in conjunction with discussing the
offer
✔✔Which of the following types of housing discrimination is NOT covered by the state
law?
A. age
B. gender
C. mental disability
D. income level - ✔✔D. income level
✔✔A licensee representing a seller secured a signed contract with no contingencies.
Shortly before the scheduled closing, another offer well above the asking price but with
, major contingencies was presented. Unless directed otherwise in writing by the seller,
the licensee with the original contract should
a. inform the cooperating broker that the property is under contract and not open to
further offers, especially those with major contingencies
b. promptly present the new offer to the seller, explain to them their obligations, and
recommend legal counsel
c. ignore the offer but attempt to interest the cooperating broker in a comparable
property listed by the firm
d. explain to the new offer or that the property is sold and that cooperating broker
should have read more carefully the listing firms.. - ✔✔d. explain to the new offer or that
the property is sold and that cooperating broker should have read more carefully the
listing firms..
✔✔A broker advertised that during the year, his company had $92,000,000 of volume.
Upon investigation, his records indicated that he listed $92,000,000 of real estate but
closed only $27,000,000. This is an example of
a. untruthful or misleading statements in advertising
b. puffing
c. a valid advertisement if the municipality that compares the "market" is specified
d. a felony related to the profession - ✔✔b. puffing
✔✔The promotion of a time-share project includes the offer of a prize. Such a promotion
MUST
A. require attendance at a sales presentation
B. limit the number of prizes to be awarded
C. disclose that the purpose is to solicit timeshare purchasers
D. deliver the exact prize offered in any advertisement without substitution - ✔✔D.
deliver the exact prize offered in any advertisement without substitution
✔✔if a licensee advertises prizes as part of a promotion for the sale of real estate,
which of the following MUST be included in the advertisement?
a. the fair market value of the prize
b. where the prize was manufactured
c. how many others have won similar prizes
d. the dames of any stores that will exchange the prize - ✔✔a. the fair market value of
the prize
✔✔The PA human relations act places limits on factors that may be considered when
marketing property. It is permissible to advertise that the property is located
a. within walking distance to a jewish synagogue
b. in a popular catholic parish
c. in an integrated neighborhood
d. near shopping center and transportation - ✔✔d. near shopping center and
transportation
QUESTIONS SET A+
✔✔A listing broker receives an offer secured by another firm. The offer is poorly written
and is on an outdated form. The listing broker
A. Can refuse to present the offer to the seller
B. can demand that the offer be rewritten
C. must present the offer to the seller
D. can reject the offer - ✔✔B. can demand that the offer be rewritten
✔✔In order to work as a property manager for compensation, an individual must
A. complete a certification for property management
B. pass a separate examination in principles of a property management
C. complete at least one course in property management every two years
D. hold a real estate license and, if not a broker, be supervised by a broker - ✔✔A.
complete a certification for property management
✔✔A licensee representing a buyer MUST inform the listing broker or the seller of the
brokerage relationship
A. at the first contract
B. when an offer is written
C. by addendum to the offer
D. in conjunction with discussing the offer - ✔✔D. in conjunction with discussing the
offer
✔✔Which of the following types of housing discrimination is NOT covered by the state
law?
A. age
B. gender
C. mental disability
D. income level - ✔✔D. income level
✔✔A licensee representing a seller secured a signed contract with no contingencies.
Shortly before the scheduled closing, another offer well above the asking price but with
, major contingencies was presented. Unless directed otherwise in writing by the seller,
the licensee with the original contract should
a. inform the cooperating broker that the property is under contract and not open to
further offers, especially those with major contingencies
b. promptly present the new offer to the seller, explain to them their obligations, and
recommend legal counsel
c. ignore the offer but attempt to interest the cooperating broker in a comparable
property listed by the firm
d. explain to the new offer or that the property is sold and that cooperating broker
should have read more carefully the listing firms.. - ✔✔d. explain to the new offer or that
the property is sold and that cooperating broker should have read more carefully the
listing firms..
✔✔A broker advertised that during the year, his company had $92,000,000 of volume.
Upon investigation, his records indicated that he listed $92,000,000 of real estate but
closed only $27,000,000. This is an example of
a. untruthful or misleading statements in advertising
b. puffing
c. a valid advertisement if the municipality that compares the "market" is specified
d. a felony related to the profession - ✔✔b. puffing
✔✔The promotion of a time-share project includes the offer of a prize. Such a promotion
MUST
A. require attendance at a sales presentation
B. limit the number of prizes to be awarded
C. disclose that the purpose is to solicit timeshare purchasers
D. deliver the exact prize offered in any advertisement without substitution - ✔✔D.
deliver the exact prize offered in any advertisement without substitution
✔✔if a licensee advertises prizes as part of a promotion for the sale of real estate,
which of the following MUST be included in the advertisement?
a. the fair market value of the prize
b. where the prize was manufactured
c. how many others have won similar prizes
d. the dames of any stores that will exchange the prize - ✔✔a. the fair market value of
the prize
✔✔The PA human relations act places limits on factors that may be considered when
marketing property. It is permissible to advertise that the property is located
a. within walking distance to a jewish synagogue
b. in a popular catholic parish
c. in an integrated neighborhood
d. near shopping center and transportation - ✔✔d. near shopping center and
transportation
