PARE Exam Modules Review
Questions and Complete
Solutions Graded A+
When a judgment is entered against a licensee and a claim is paid from the Real Estate Recovery Fund,
which of the following statements is true? - Answer: The license is automatically suspended
Monies are paid into the Real Estate Recovery Fund by which of the following means: - Answer: Every
licensee pays $10 into the fund at time of initial license
Before suspending a license, the Real Estate Commission will first: - Answer: Give the licensee the
opportunity to have a hearing regarding the suspension
Subsequent to a Real Estate Commission hearing of a licensee, the Commission may do all of the
following actions except: - Answer: Sentence a licensee to prison
Which of the following disciplinary actions is the Pennsylvania Real Estate Commission authorized to
take? - Answer: Levying fines up to $1K, suspending a RE license, revoking a license
Which of the following duties is not included under the authority of the Pennsylvania Real Estate
Commission? - Answer: Authority to write and administer the state licensing examination
The Real Estate Recovery Fund is funded by the: - Answer: fees paid by licensees at initial licensure and
at renewal
Investigations may be initiated by the Pennsylvania Real Estate Commission in each of the following
circumstances except: - Answer: to investigate complaints regarding the state testing service
procedures.
Which of the following is a duty of the State Real Estate Commission? - Answer: Approve education
providers that offer or conduct courses of RE
,Which of the following is true regarding the composition of the State Real Estate Commission? - Answer:
Each member is appointed by the governor
The Commission has the authority to: - Answer: Enact the rules and regulations to implement the license
law
If the Commission pays any amount from the Real Estate Recovery Fund in settlement of a claim against
a licensee, the license of the person is - Answer: Automatically suspended upon the effective date of
payment by the commission
The Real Estate Commission may take all of the following actions except: - Answer: Set RE commission
rates
The Pennsylvania Real Estate Commission may enforce its power to issue disciplinary action upon which
of the following? - Answer: A vacation timeshare salesperson
Which of the following situations would be unlikely to result in the disciplinary action by the
Commission? - Answer: A broker acting as a duel agent for a transaction and receiving compensation
from both parties when both parties have provided written consent
Upon obtaining a final court judgment against a licensee, what is the time frame in which an injured
party must make a completed application if seeking payment from the Real Estate Recovery Fund? -
Answer: No more than one year following the termination of the proceedings, including appeals
An individual responsible for all the real estate transactions of a real estate brokerage company is
known as the: - Answer: Broker of record
A licensee who does not lease or show property, but sells lists of available rentals is a/an: - Answer:
Rental listing referral agent
To be eligible to obtain a broker's license which of the following requirements best applies? - Answer:
The applicant would have been engaged as a salesperson for 3 years and be at least 21 years old
, To be eligible for an associate broker's license, which of the following apply? - Answer: All the above
All of the requirements apply to a rental listing referral agent except: - Answer: requires a broker's
license
How often are licensed brokers and salespersons required to complete continuing education
requirements and renew their licenses? - Answer: Every 2 years
The real estate commission requires the completion of continuing education in order to renew real
estate licenses. The purpose of this requirement is to: - Answer: help to ensure that the public is
protected from incompetent licensees and applies only to brokers and salespersons
When a license is not renewed and becomes inactive, the license may be reactivated by submitting the
proper forms and required fees up to a maximum of how many years? - Answer: Five years
Upon the death of the broker operating as a sole proprietor, a second broker may begin the necessary
requirements for termination of the deceased broker's business. Having an active license, this broker
may: - Answer: Continue advertising all current listings
A broker's main office is moving to a more modern facility 2 miles away. The salespersons working for
this broker are required by license law to: - Answer: Contact the real estate commission designating the
new location
When a salesperson changes her employment to a new broker, which of the following is true regarding
her license? - Answer: The change of employment notification to the Commission serves as a temporary
license
All of the following activities require a Pennsylvania Real Estate license except: - Answer: Selling real
estate at a bona fide auction by a licensed auctioneer
All of the following are excluded from obtaining a real estate license except: - Answer: An individual
referring tenants to rental units by selling lists of available rentals
Questions and Complete
Solutions Graded A+
When a judgment is entered against a licensee and a claim is paid from the Real Estate Recovery Fund,
which of the following statements is true? - Answer: The license is automatically suspended
Monies are paid into the Real Estate Recovery Fund by which of the following means: - Answer: Every
licensee pays $10 into the fund at time of initial license
Before suspending a license, the Real Estate Commission will first: - Answer: Give the licensee the
opportunity to have a hearing regarding the suspension
Subsequent to a Real Estate Commission hearing of a licensee, the Commission may do all of the
following actions except: - Answer: Sentence a licensee to prison
Which of the following disciplinary actions is the Pennsylvania Real Estate Commission authorized to
take? - Answer: Levying fines up to $1K, suspending a RE license, revoking a license
Which of the following duties is not included under the authority of the Pennsylvania Real Estate
Commission? - Answer: Authority to write and administer the state licensing examination
The Real Estate Recovery Fund is funded by the: - Answer: fees paid by licensees at initial licensure and
at renewal
Investigations may be initiated by the Pennsylvania Real Estate Commission in each of the following
circumstances except: - Answer: to investigate complaints regarding the state testing service
procedures.
Which of the following is a duty of the State Real Estate Commission? - Answer: Approve education
providers that offer or conduct courses of RE
,Which of the following is true regarding the composition of the State Real Estate Commission? - Answer:
Each member is appointed by the governor
The Commission has the authority to: - Answer: Enact the rules and regulations to implement the license
law
If the Commission pays any amount from the Real Estate Recovery Fund in settlement of a claim against
a licensee, the license of the person is - Answer: Automatically suspended upon the effective date of
payment by the commission
The Real Estate Commission may take all of the following actions except: - Answer: Set RE commission
rates
The Pennsylvania Real Estate Commission may enforce its power to issue disciplinary action upon which
of the following? - Answer: A vacation timeshare salesperson
Which of the following situations would be unlikely to result in the disciplinary action by the
Commission? - Answer: A broker acting as a duel agent for a transaction and receiving compensation
from both parties when both parties have provided written consent
Upon obtaining a final court judgment against a licensee, what is the time frame in which an injured
party must make a completed application if seeking payment from the Real Estate Recovery Fund? -
Answer: No more than one year following the termination of the proceedings, including appeals
An individual responsible for all the real estate transactions of a real estate brokerage company is
known as the: - Answer: Broker of record
A licensee who does not lease or show property, but sells lists of available rentals is a/an: - Answer:
Rental listing referral agent
To be eligible to obtain a broker's license which of the following requirements best applies? - Answer:
The applicant would have been engaged as a salesperson for 3 years and be at least 21 years old
, To be eligible for an associate broker's license, which of the following apply? - Answer: All the above
All of the requirements apply to a rental listing referral agent except: - Answer: requires a broker's
license
How often are licensed brokers and salespersons required to complete continuing education
requirements and renew their licenses? - Answer: Every 2 years
The real estate commission requires the completion of continuing education in order to renew real
estate licenses. The purpose of this requirement is to: - Answer: help to ensure that the public is
protected from incompetent licensees and applies only to brokers and salespersons
When a license is not renewed and becomes inactive, the license may be reactivated by submitting the
proper forms and required fees up to a maximum of how many years? - Answer: Five years
Upon the death of the broker operating as a sole proprietor, a second broker may begin the necessary
requirements for termination of the deceased broker's business. Having an active license, this broker
may: - Answer: Continue advertising all current listings
A broker's main office is moving to a more modern facility 2 miles away. The salespersons working for
this broker are required by license law to: - Answer: Contact the real estate commission designating the
new location
When a salesperson changes her employment to a new broker, which of the following is true regarding
her license? - Answer: The change of employment notification to the Commission serves as a temporary
license
All of the following activities require a Pennsylvania Real Estate license except: - Answer: Selling real
estate at a bona fide auction by a licensed auctioneer
All of the following are excluded from obtaining a real estate license except: - Answer: An individual
referring tenants to rental units by selling lists of available rentals
