Question 1

A broker has been hired by a buyer to find an investment property. Upon locating a suitable property listed by another firm, the broker MUST:

Options :

A : Initiate a title search of the property.

B : Recommend a professional inspection of the property.

C : Disclose their dual representation, in writing, to both buyer and seller.

D : Disclose to the listing broker or the seller that they represent the buyer.

Answer: D

Question 2

According to the Pennsylvania Landlord-Tenant Act, a tenant must be notified of the final disposition of their security deposit within what time period following the end of the lease?

Options :

A : Within 5 days

B : Within 30 days

C : Within 60 days

D : Immediately upon completion of the landlord-s final inspection of the premises

Answer: B

Question 3

The Pennsylvania Real Estate Commission has received a written complaint that a licensee is engaging in an activity prohibited by the Real Estate Licensing and Registration Act. What action is the Commission empowered to take?

Options :

A : Suspend the licensee-s license for a period not to exceed 6 months.

B : Ascertain the facts and, if warranted, hold a hearing.

C : Serve the licensee with a cease and desist order.

D : Transfer the matter to civil authorities in the county in which the alleged activity occurred.

Answer: B

Question 4

What MUST a salesperson licensee convicted of a felony do?

Options :

A : Immediately turn in the real estate license to the Real Estate Commission

B : Discuss the matter with the employing broker to decide what to do

C : Provide the Real Estate Commission with information about the conviction

D : Terminate all real estate activities

Answer: C

Question 5

If a licensee advertises prizes as part of a promotion for the sale of real estate, which of the following must be disclosed in the advertisement?

Options :

A : The fair market value of the prize.

B : Where the prize was manufactured.

C : How many others have won similar prizes.

D : The names of any stores that will exchange the prize.

Answer: A

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