PSI PA STATE REAL ESTATE 2026 COMPREHENSIVE
ALL QUESTIONS AND ANSWERS SURE A+
✔✔CEMETERY COMPANY - ✔✔Any person who offers or sells to the public the
ownership, or the right to use, any cemetery lot.
✔✔CEMETERY SALESPERSON - ✔✔Any person employed by a broker or cemetery
broker to perform duties as defined herein under "cemetery broker."
✔✔COMMERCIAL PROPERTY - ✔✔(1) Any property, or portion thereof, which is used,
occupied or is intended, arranged or designed to be used or occupied for the purpose of
operating a business, an office, a manufacturing facility or any public accommodation.
This paragraph does not include property which consists of less then five residential
dwelling units.
(2) Any vacant land offered for sale or lease, or held, for the purpose of constructing or
locating thereon a building, structure or facility, or portion thereof, which is intended,
arranged or designed to be used or occupied for the purpose of operating a business,
an office, a manufacturing facility or any public accommodation. This paragraph does
not include vacant land suitable only for construction or location of less than five
residential dwelling units.
, ✔✔COMPARATIVE MARKET ANALYSIS - ✔✔A written analysis, opinion or conclusion
by a contracted buyer's agent, transactional licensee, or an actual or potential seller's
agent relating to the probable sale price of a specified piece of real estate in an
identified real estate market at a specified time, offered either for the purpose of
determining the asking/offering price for the property by a specific actual or potential
consumer or for the purpose of securing a listing agreement with a seller.
✔✔DESIGNATED AGENT - ✔✔One or more licensees designated by the employing
broker, with the consent of the principal, to act exclusively as an agent or as agents on
behalf of the principal to the exclusion of all other licensees within the broker's employ.
✔✔DISCLOSURE - ✔✔Provision of all relevant facts, without reservation, ambiguity or
distortion so as to enable a consumer to understand the options and weigh the risks and
benefits in order to make a decision in his or her own best interest.
✔✔DUAL AGENT - ✔✔A licensee who acts as an agent for the buyer and seller, or
lessee and landlord, in the same transaction.
✔✔PRINCIPAL - ✔✔A consumer of real estate services who has entered into an
agency relationship with a broker.
✔✔QUALIFIED ASSOCIATION - ✔✔A corporation, limited liability partnership, limited
partnership or limited liability company that:
(1) is incorporated or otherwise organized under the laws of this Commonwealth or
another jurisdiction;
(2) does not hold a license under this act;
(3) does not hold itself out to the public as providing real estate services or real estate-
related services; and
(4) is solely owned by licensees who are all affiliated with the same broker.
In case of the death of an owner of a qualified association, ownership may continue
through the licensees' estate for a period not to exceed 18 months.
✔✔TIME-SHARE SALESPERSON - ✔✔A person who either as an employee or
independent contractor sells or offers to sell time shares. Such person shall sell time
shares under the active supervision of a broker. A person licensed as a broker or as a
salesperson shall not be required to be licensed as a time-share salesperson as a
condition for selling or offering to sell time shares.
✔✔TRANSACTION LICENSEE - ✔✔A licensed broker or salesperson who provides
communication or document preparation services or performs acts described under the
definition of "broker" or "salesperson" for which a license is required, without being an
agent or advocate of the consumer.
✔✔SUBAGENT - ✔✔A broker, not in the employ of the listing broker, who is engaged to
act for, or cooperate with, the listing broker in selling property as an agent of the seller.
ALL QUESTIONS AND ANSWERS SURE A+
✔✔CEMETERY COMPANY - ✔✔Any person who offers or sells to the public the
ownership, or the right to use, any cemetery lot.
✔✔CEMETERY SALESPERSON - ✔✔Any person employed by a broker or cemetery
broker to perform duties as defined herein under "cemetery broker."
✔✔COMMERCIAL PROPERTY - ✔✔(1) Any property, or portion thereof, which is used,
occupied or is intended, arranged or designed to be used or occupied for the purpose of
operating a business, an office, a manufacturing facility or any public accommodation.
This paragraph does not include property which consists of less then five residential
dwelling units.
(2) Any vacant land offered for sale or lease, or held, for the purpose of constructing or
locating thereon a building, structure or facility, or portion thereof, which is intended,
arranged or designed to be used or occupied for the purpose of operating a business,
an office, a manufacturing facility or any public accommodation. This paragraph does
not include vacant land suitable only for construction or location of less than five
residential dwelling units.
, ✔✔COMPARATIVE MARKET ANALYSIS - ✔✔A written analysis, opinion or conclusion
by a contracted buyer's agent, transactional licensee, or an actual or potential seller's
agent relating to the probable sale price of a specified piece of real estate in an
identified real estate market at a specified time, offered either for the purpose of
determining the asking/offering price for the property by a specific actual or potential
consumer or for the purpose of securing a listing agreement with a seller.
✔✔DESIGNATED AGENT - ✔✔One or more licensees designated by the employing
broker, with the consent of the principal, to act exclusively as an agent or as agents on
behalf of the principal to the exclusion of all other licensees within the broker's employ.
✔✔DISCLOSURE - ✔✔Provision of all relevant facts, without reservation, ambiguity or
distortion so as to enable a consumer to understand the options and weigh the risks and
benefits in order to make a decision in his or her own best interest.
✔✔DUAL AGENT - ✔✔A licensee who acts as an agent for the buyer and seller, or
lessee and landlord, in the same transaction.
✔✔PRINCIPAL - ✔✔A consumer of real estate services who has entered into an
agency relationship with a broker.
✔✔QUALIFIED ASSOCIATION - ✔✔A corporation, limited liability partnership, limited
partnership or limited liability company that:
(1) is incorporated or otherwise organized under the laws of this Commonwealth or
another jurisdiction;
(2) does not hold a license under this act;
(3) does not hold itself out to the public as providing real estate services or real estate-
related services; and
(4) is solely owned by licensees who are all affiliated with the same broker.
In case of the death of an owner of a qualified association, ownership may continue
through the licensees' estate for a period not to exceed 18 months.
✔✔TIME-SHARE SALESPERSON - ✔✔A person who either as an employee or
independent contractor sells or offers to sell time shares. Such person shall sell time
shares under the active supervision of a broker. A person licensed as a broker or as a
salesperson shall not be required to be licensed as a time-share salesperson as a
condition for selling or offering to sell time shares.
✔✔TRANSACTION LICENSEE - ✔✔A licensed broker or salesperson who provides
communication or document preparation services or performs acts described under the
definition of "broker" or "salesperson" for which a license is required, without being an
agent or advocate of the consumer.
✔✔SUBAGENT - ✔✔A broker, not in the employ of the listing broker, who is engaged to
act for, or cooperate with, the listing broker in selling property as an agent of the seller.
