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PA PRACTICE EXAM QUESTIONS AND
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ANSWERS
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SUCCESS.
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What iare ithe iconsequences iwhen ia ireal iestate isalesperson iis ifound iguilty iof iviolating
iany iprovision iof ithe iPennsylvania iHuman iRelations iAct? i

iThe iemploying ibroker iis iliable ifor ithe iconduct iof ithe isalesperson, iso ithe iemploying

ibroker iwill ialso ibe iguilty iof ithe iviolation. i

iThe iPennsylvania iHuman iRelations iCommission iwill inotify ithe istate ireal iestate

icommission iof ifindings iof iviolations iagainst ilicensees iunder ithe iPennsylvania iHuman

iRelations iAct. i i

The iPennsylvania iHuman iRelations iCommission ican isuspend ior irevoke ithe
isalesperson's ilicense. i i

The iPennsylvania iHuman iRelations iCommission imust irefer ithe icase ito iHUD ifor
iprosecution iunder iappropriate ifederal ilaw. i- i icorrect ianswer. i iThe iPennsylvania

iHuman iRelations iCommission iwill inotify ithe istate ireal iestate icommission iof ifindings iof

iviolations iagainst ilicensees iunder ithe iPennsylvania iHuman iRelations iAct. i
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Who iis iin icharge iof ithe iperpetual icare ifund ifor icemeteries? i
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The
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igovernment.
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iThe iowner iof ithe icemetery.
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The iFederal igovernment.
iThe istate igovernment. i- i icorrect ianswer. i iThe iowner iof ithe icemetery.
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In iPennsylvania, iwhich iof ithe ifollowing ioptions iis ilegal iand iwill inot iresult iin ia ibroker
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facing isuspension ior irevocation iof ithe ibroker's ilicense?
iSelling ithe ilicensee's iown ihome ias i"For iSale iby iOwner" iwithout idisclosing itheir

ilicense istatus iin iadvertisements. i i

Not idepositing irents iin iescrow ireceived ias ia iproperty imanager ifor ia ilessor. i i
Displaying ia i"For iSale" isign ion ia iproperty iwithout ithe iowner's iwritten iconsent. i
iAdvising itheir iseller ithat isome iknown imaterial idefects ido inot ineed ito ibe iincluded ion

ithe iproperty idisclosure istatement. i- i icorrect ianswer. i iNot idepositing irents iin iescrow

ireceived ias ia iproperty imanager ifor ia ilessor. i
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What iis ithe iReal iEstate iRecovery iFund? i

,i Fund ito iprovide ireimbursement ito ivictims iof ifraud icommitted iby ireal iestate ilicensees.
i i iFund ito iprovide ireimbursement ito ipersons iwho ilost itheir iproperty idue ito inatural

icauses i

iAll iof ithe iother ioptions iare icorrect i

iFund ito iprovide ireimbursement ito ivictims iof istolen iproperty. i- i icorrect ianswer. i iFund

ito iprovide ireimbursement ito ivictims iof ifraud icommitted iby ireal iestate ilicensees. i
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Under ithe iterms iof ia isales icontract, ithe iseller iis irequired ito ipay ifor iand iprovide ia
itermite icertificate. iThe iseller irequests ithat iNelson, ithe isalesperson iorder ione. iNelson

idoes iso, iknowing ihe iwill ireceive ia ireferral ifee idirectly ifrom ithe ipest icontrol icompany.

iThe ireferral ifee iis inot idiscussed iwith ithe iseller. iIs ithis ia iviolation iof ithe ilicense ilaw? i
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iNo, iif ithe ifee iis iless ithan i$25. i i

No, iif ithe ifee iis isplit iwith ithe ibroker. i i
Yes, ibecause iNelson idid inot idisclose ithe icompensation ito ithe iconsumer. i
iYes, ibecause ifees imay ibe ipaid ito iNelson ionly iby ithe iseller. i- i icorrect ianswer. i iYes,

ibecause iNelson idid inot idisclose ithe icompensation ito ithe iconsumer. i
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Every ilicensed ibroker iis irequired ito: i
ikeep itransaction irecords ifor ithree iyears. i ibecome ia

imember iof ithe ilocal iAssociation iof iREALTORS®. i iemploy

iat ileast ione isalesperson. i i

maintain iescrow iaccount irecords ifor ifive iyears. i- i icorrect ianswer. i ikeep itransaction
irecords ifor ithree iyears. i
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While irepresenting ia iseller iunder ia ilisting icontract, iJones, ithe ibroker ilearned
iconfidential iinformation iabout ithe iseller's iurgency ito isell iand iminimum iacceptable

iselling iprice. iThe ilisting iexpired, iand ithe iproperty iwas ilisted iwith ia idifferent ibroker.

iJones inow irepresents ia ibuyer iclient iwho iis iinterested iin imaking ian ioffer ion ithe

iproperty. iAt ithis itime, iJones: i
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must irefer ithe ibuyer iprospect ito ithe inew ilisting ibroker ito iwrite ithe ioffer ito ipurchase. i
ias ibuyer's iagent imust idisclose ito ithe ibuyer iany iinformation ithe ibroker iknows iabout

ithe iseller's imotivation iand iminimum iacceptable iprice. i imust irenounce ihis iagency

irelationship iwith ithe ibuyer iand iact ias ithe isubagent iof ithe iseller. i i

may inot ireveal iconfidential iinformation iof ithe iseller ior iuse iit ito ithe iadvantage iof ithe
ibuyer iclient. i- i icorrect ianswer. i imay inot ireveal iconfidential iinformation iof ithe iseller ior

iuse iit ito ithe iadvantage iof ithe ibuyer iclient. i
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Sarah, ia ibroker iis ifound iguilty iof ifraud iand iordered ito ipay imonetary idamages ito ia
ibuyer. iWhat iis ithe itime iframe iwithin iwhich ithe iinjured iparty imay ifile ia iclaim ifor

ipayment ifrom ithe iReal iEstate iRecovery iFund? i
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Three iyears iafter ithe ialleged iviolation ioccurred. i
iOne iyear iafter itermination iof ithe iproceedings iin iconnection iwith ithe ijudgment

iawarded ito ithe iconsumer. i

iOne iyear iafter ithe ialleged iviolation ioccurred. i i

, Three iyears iafter ithe idate ion iwhich ia iprofessional irelationship iof itrust iand
iaccountability icommenced ibetween ithe ibroker iand ithe iconsumer. i- i icorrect ianswer. i

iOne iyear iafter itermination iof ithe iproceedings iin iconnection iwith ithe ijudgment

iawarded ito ithe iconsumer. i
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The imaximum icompensation ithat iwill ibe ipaid ifrom ithe iReal iEstate iRecovery iFund ito
isatisfy iclaims iagainst ia ilicensee iis: i

i$20,000. i i

$100,000. i i
$200,000. i
i$10,000. i- i icorrect ianswer. i i$100,000. i
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With irespect ito ireal iestate ipurchases, iRegulation iZ irequires ilending iinstitutions
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inform iborrowers iof ithe:
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appraised ivalue iof ithe iproperty.
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itotal iamount iof iclosing

icosts.
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exact iamount iof imonthly ipayments.
itrue icost iof iobtaining icredit. i- i icorrect ianswer. i itrue icost iof iobtaining icredit.
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The iConsumer iNotice, iwhich iadvises iconsumers iof ithe ibusiness irelationships iallowed
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by ithe iReal iEstate iLicensing iand iRegistration iAct, imust ibe ipresented:
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At iany iface-to-face imeeting iwith ia ibuyer ior iseller. i
To ibuyers ionly, iat ithe ifirst isubstantive icontact. i
To iany ibuyer ior iseller, iprior ito iwriting ia isales icontract. i
To iany ibuyer ior iseller, iat ithe ifirst icontact, iwhere ia isubstantive idiscussion iabout ireal
iestate ioccurs. i- i icorrect ianswer. i iTo iany ibuyer ior iseller, iat ithe ifirst icontact, iwhere ia

isubstantive idiscussion iabout ireal iestate ioccurs. i
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Immediately iupon ipassing ithe isalesperson ilicensing iexamination, iwhich iof ithe ifollowing
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activities imay ian iindividual ilegally iengage iin?
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Prepare iand ipresent ia icomparative imarket ianalysis ito ia iprospective iseller. i
Hold iopen ihouses ifor ithe ipublic iunder ithe idirect isupervision iof ia ibroker. i
Negotiate ia iloan ion ireal iestate ion ibehalf iof ia ibroker. i
Sale iof ibusiness iopportunities ito ithe ipublic. i- i icorrect ianswer. i iSale iof ibusiness
iopportunities ito ithe ipublic. i
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A iconsumer icontacts iBauer, ia ilicensee ito idiscuss ithe ipossibility iof iBauer ihandling ithe
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sale iof ia iproperty iowned iby ithe iconsumer. iBauers' iresponsibility iis ito:
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advise ithe iconsumer ithat iafter ilisting ithe iproperty ifor isale, iany icooperating ibroker
iwho ishows ithe iproperty iwill ibe iacting ias ia ibuyers iagent. iprovide ithe iconsumer iwith