PENNSYLVANIA REAL ESTATE
FUNDAMENTALS FINAL EXAM 2024-2025
ACTUAL EXAM COMPLETE 300
QUESTIONS WITH DETAILED VERIFIED
ANSWERS (100% CORRECT ANSWERS)
/ALREADY GRADED A+
A title search revealed several outstanding liens against
property . Which lien has highest priority ? -
....ANSWER...A real estate tax lien for the current year
The sellers decided that they did not wish to sell after they
entered into a contract with buyers , who really want this
particular home . What option is available to the buyers ? -
....ANSWER...Suit for specific performance contract
Real estate licensees are prohibited from providing legal
advice unless properly licensed to do so . If they are
convicted of the unauthorized practice of law , they can be
punished by - ....ANSWER...imprisonment and / or a $
2,500 fine .
,. Which statement is TRUE about offer and acceptance ? -
....ANSWER...An offer can be rejected by a counteroffer
After closing , the lender places a document in the public
records as security for money loaned to buy the property .
What is that document ? - ....ANSWER...A mortgage
In Pennsylvania , homeowners who fall behind on their
mortgage payments are given an opportunity to bring the
missed payments up to date . If the payments are not made
, the lender follows procedures to have the property -
....ANSWER...sold at a sheriff's sale .
What type of mortgage loan requires equal payments for
30 years , at which time both the principal and the interest
will be fully satisfied ? - ....ANSWER...Fully amortized
loan
The Pennsylvania Real Estate Commission is charged with
- ....ANSWER...restraining protecting the public from
unscrupulous or sloppy practices
45 . How many years of active licensure , if any , are
required for salesperson licensee to qualify for a broker's
license ? - ....ANSWER...At least three years of active
licensure
,Land is considered - ....ANSWER...indestructible
. What action can the Commission take if a sales- person
advertises a property for sale without the owner's
permission ? - ....ANSWER...Suspend the salesperson's
license
A cooperating broker would be a - ....ANSWER...subagent
Which deed provides the greatest protection from the seller
to the purchaser of a property ? - ....ANSWER...General
warranty deed
After a borrower defaults on mortgage payments , a court
orders real estate sold to satisfy the unpaid lien . This
action is an example of - ....ANSWER...a foreclosure
Who may file a lien against real property for payment of
services rendered ? - ....ANSWER...Commercial broker for
payment of services rendered
A broker is responsible for which activity ? -
....ANSWER...Business that is conducted in branch offices
, Where is it most likely for state laws to differ ? -
....ANSWER...Pre licensing education requirements
Sam discovers by reading his condominium documents
that he cannot add an addition to his unit . He is being
affected by what ? - ....ANSWER...A restrictive covenant
Under an existing ordinance , no signs that extend more
three feet above the highest point of a roof may be placed
on any building . An own wants to erect a nine - foot - high
revolving sign on the roof of his store . In order to do this
legally , the owner must get a - ....ANSWER...variance
The acquisition of title to land by its addition to real estate
already owned, through human
actions or natural processes - ....ANSWER...Accession
A gradual addition to dry land by the forces of nature, as
when the tide deposits water-borne
sediment on shoreline property - ....ANSWER...Accretion
A measure of land area that is equal to 43,560 square feet.
One square mile contains 640
FUNDAMENTALS FINAL EXAM 2024-2025
ACTUAL EXAM COMPLETE 300
QUESTIONS WITH DETAILED VERIFIED
ANSWERS (100% CORRECT ANSWERS)
/ALREADY GRADED A+
A title search revealed several outstanding liens against
property . Which lien has highest priority ? -
....ANSWER...A real estate tax lien for the current year
The sellers decided that they did not wish to sell after they
entered into a contract with buyers , who really want this
particular home . What option is available to the buyers ? -
....ANSWER...Suit for specific performance contract
Real estate licensees are prohibited from providing legal
advice unless properly licensed to do so . If they are
convicted of the unauthorized practice of law , they can be
punished by - ....ANSWER...imprisonment and / or a $
2,500 fine .
,. Which statement is TRUE about offer and acceptance ? -
....ANSWER...An offer can be rejected by a counteroffer
After closing , the lender places a document in the public
records as security for money loaned to buy the property .
What is that document ? - ....ANSWER...A mortgage
In Pennsylvania , homeowners who fall behind on their
mortgage payments are given an opportunity to bring the
missed payments up to date . If the payments are not made
, the lender follows procedures to have the property -
....ANSWER...sold at a sheriff's sale .
What type of mortgage loan requires equal payments for
30 years , at which time both the principal and the interest
will be fully satisfied ? - ....ANSWER...Fully amortized
loan
The Pennsylvania Real Estate Commission is charged with
- ....ANSWER...restraining protecting the public from
unscrupulous or sloppy practices
45 . How many years of active licensure , if any , are
required for salesperson licensee to qualify for a broker's
license ? - ....ANSWER...At least three years of active
licensure
,Land is considered - ....ANSWER...indestructible
. What action can the Commission take if a sales- person
advertises a property for sale without the owner's
permission ? - ....ANSWER...Suspend the salesperson's
license
A cooperating broker would be a - ....ANSWER...subagent
Which deed provides the greatest protection from the seller
to the purchaser of a property ? - ....ANSWER...General
warranty deed
After a borrower defaults on mortgage payments , a court
orders real estate sold to satisfy the unpaid lien . This
action is an example of - ....ANSWER...a foreclosure
Who may file a lien against real property for payment of
services rendered ? - ....ANSWER...Commercial broker for
payment of services rendered
A broker is responsible for which activity ? -
....ANSWER...Business that is conducted in branch offices
, Where is it most likely for state laws to differ ? -
....ANSWER...Pre licensing education requirements
Sam discovers by reading his condominium documents
that he cannot add an addition to his unit . He is being
affected by what ? - ....ANSWER...A restrictive covenant
Under an existing ordinance , no signs that extend more
three feet above the highest point of a roof may be placed
on any building . An own wants to erect a nine - foot - high
revolving sign on the roof of his store . In order to do this
legally , the owner must get a - ....ANSWER...variance
The acquisition of title to land by its addition to real estate
already owned, through human
actions or natural processes - ....ANSWER...Accession
A gradual addition to dry land by the forces of nature, as
when the tide deposits water-borne
sediment on shoreline property - ....ANSWER...Accretion
A measure of land area that is equal to 43,560 square feet.
One square mile contains 640
