PORTION EXAM PREP WITH CORRECT
SOLUTIONS
1. BUILDER-OWNER SALESPERSON - ANS☑☑---Any person who is a full-time
employee of a builder-owner of single and multifamily dwellings located within the
Commonwealth and as such employee shall be authorized and empowered to list
for sale, sell or offer for sale, or to negotiate the sale or exchange of real estate, or
to lease or rent, or offer to lease, rent or place for rent, any real estate owned by his
builder-owner employer, or collect or offer, or attempt to collect, rent for the use of
real estate owned by his builder-owner employer, for and on behalf of such builder-
owner employer.
2. BUYER AGENT - ANS☑☑---Any licensee who has entered into an agency
relationship with a consumer buyer of real estate.
3. CAMPGROUND MEMBERSHIP - ANS☑☑---An interest, other than in fee simple
or by lease, which gives the purchaser the right to use a unit of real property for
the purpose of locating a recreational vehicle, trailer, tent, tent trailer, pickup
camper or other similar device on a periodic basis pursuant to a membership
contract allocating use and occupancy rights between other similar users.
4. CAMPGROUND MEMBERSHIP SALESPERSON - ANS☑☑---A person who either
as an employee or an independent contractor sells or offers to sell campground
memberships. Such person shall sell campground memberships under the active
supervision of a broker. A person licensed as a broker, as a salesperson or as a
time-share salesperson shall not be required to be licensed as a campground
membership salesperson as a condition for selling or offering to sell campground
memberships.
, 5. CEMETERY - ANS☑☑--- AGENCY RELATIONSHIP - ANS☑☑---A relationship
whereby the broker or licensees in the employ of the broker act as fiduciaries for a
consumer of real estate services by the express authority of the consumer of real
estate services.
6. ASSOCIATE BROKER - ANS☑☑---A broker employed by another broker.
7. BROKER - ANS☑☑---Any person who, for another and for a fee, commission or
other valuable consideration:
(1) negotiates with or aids any person in locating or obtaining for
purchase, lease or an acquisition of interest in any real estate;
(2) negotiates the listing, sale, purchase, exchange, lease, time share and
similarly designated interests, financing or option for any real estate;
(3) manages any real estate;
(4) represents himself to be a real estate consultant, counselor, agent or
finder;
(5) undertakes to promote the sale, exchange, purchase or rental of real
estate: Provided, however, That this provision shall not include any
person whose main business is that of advertising, promotion or public
relations;