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Pennsylvania Real Estate Commission PA Salesperson State Exam Sample Questions (Q43-Q48):

NEW QUESTION # 43
A salesperson who operates as an independent contractor for a broker is seldom in the office. Earnest money deposits received by this salesperson:

A. Should be transmitted promptly after receipt to the broker.
B. May be kept temporarily in an escrow account opened by the salesperson.
C. Should be returned to the buyer to transmit to the broker.
D. May be held by the salesperson for 3 business days.

Answer: A

Explanation:
Under49 Pa. Code § 35.324 (Handling of Deposits and Escrow Money), all earnest money deposits must be promptly transmitted to the employing broker for deposit into an escrow account.
* A salesperson cannot hold earnest money or maintain an escrow account on their own.
* Brokers are responsible for ensuring that all escrow funds are properly handled and protected from commingling.
Why the other answers are incorrect:
* Option A (Salesperson Holding Escrow Funds):Salespersons are prohibited from maintaining independent escrow accounts.
* Option C (Holding Funds for 3 Days):Earnest money must be turned over to the broker as soon as possible; salespersons cannot hold it for any period.
* Option D (Returning to Buyer for Transmission):Earnest money must go directly to the broker, not back to the buyer.

NEW QUESTION # 44
What are the permitted relationships between licensees and consumers as defined by the "Consumer Notice" and Pennsylvania regulations?

A. Buyer agent, seller agent, designated agent, dual agent, and rental agent.
B. Buyer agent, seller agent, designated agent, dual agent, and transaction licensee.
C. Buyer agent, seller agent, designated dual agent, and transaction licensee.
D. Buyer agent, buyer sub-agent, seller agent, seller sub-agent, and dual agent.

Answer: B

Explanation:
Under49 Pa. Code § 35.284 (Disclosures of Business Relationships),the Consumer Notice defines five types of permitted relationships between real estate licensees and consumers:
* Buyer's Agent- Represents the buyer and has a fiduciary duty to them.
* Seller's Agent (Listing Agent)- Represents the seller and has a fiduciary duty to them.
* Designated Agent- A brokerage firm designates different agents to represent buyers and sellers in the same firm without creating dual agency.
* Dual Agent- A licensee represents both the buyer and seller in the same transaction, with mutual consent.
* Transaction Licensee- A real estate licensee who provides services but does not represent either party as an agent.
Why the other answers are incorrect:
* Option A (Rental Agent):"Rental agent" is not a defined relationship in Pennsylvania law.
* Option B (Buyer & Seller Sub-Agent):Sub-agency is no longer common and is not a required disclosure.
* Option D (Designated Dual Agent):Dual agency and designated agency are separate concepts.

NEW QUESTION # 45
What MUST a licensee do before she can advertise, show, or offer a property?

A. Prepare a preliminary appraisal of the property.
B. Obtain authorization from the owner of the property.
C. Prepare a comparative market analysis for the property.
D. Provide a list of clients for whom she has successfully completed real estate transactions in the area.

Answer: B

Explanation:
Before advertising, showing, or offering any property, areal estate licensee must obtain written authorization from the property owner. This is a legal requirement to ensure that the licensee has the right to represent the property.
* 49 Pa. Code § 35.331 (Written Agreements Generally)states that a real estate licenseemusthave a written agreement with the property ownerbefore performing any real estate services, including advertising and showing the property.
* 49 Pa. Code § 35.332 (Exclusive Listing Agreements)further clarifies that exclusive agreementsmust be in writingand signed by both the owner and broker.
* Without the owner's written consent, a licensee could be subject to penalties or disciplinary action from the Pennsylvania Real Estate Commission.
Why the other answers are incorrect:
* Option A (Preliminary Appraisal):Licensees are not required to conduct appraisals unless they are certified appraisers.
* Option C (List of Clients):There is no requirement to provide a history of past transactions before listing or advertising a property.
* Option D (Comparative Market Analysis - CMA):A CMA is useful for pricing but isnot required before advertising or showing a property.

NEW QUESTION # 46
What MAXIMUM length of time may a salesperson's real estate license be inactive before reactivation ceases to be possible without retaking and passing the licensing examination?

A. 2 years
B. 3 years
C. 5 years
D. 4 years

Answer: C

Explanation:
If a real estate license is inactive formore than 5 years, the licenseemust retake and pass the licensing exam to reinstate their license.
* 49 Pa. Code § 35.251 (Relicensure Following Revocation or Inactive Status)states that alicensee who has been inactive for over 5 years must complete all initial licensing requirements again, including the exam.
* A licensee can keep their license in inactive status indefinitely, but after 5 years, it requires reexamination.
Why the other answers are incorrect:
* Option A (2 Years) & Option B (3 Years):Licenseesmay reactivate their license within this period without retaking the exam.
* Option C (4 Years):Thelimit is 5 years, not 4.

NEW QUESTION # 47
If a salesperson representing a buyer gets information from the seller's agent as to the status of the real estate transaction, what is the buyer's agent REQUIRED to do?

A. Advise the seller as to the status of the transaction.
B. Advise the listing broker as to the status of the transaction.
C. Advise the loan officer as to the status of the transaction.
D. Advise the buyer as to the status of the transaction.

Answer: D

Explanation:
Under49 Pa. Code § 35.284(Disclosures of Business Relationships), abuyer's agenthas afiduciary dutyto their client. This means the agent mustact in the buyer's best interestandcommunicate all material informationregarding the transactionto the buyer.
* The buyer's agent's primary responsibility is to the buyer (Option B - Correct).
* The buyer's agent does not have any fiduciary duty to the seller (Option A - Incorrect).
* The buyer's agent is not required to inform the listing broker (Option C - Incorrect).
* The loan officer does not have the same level of involvement in fiduciary duties as the buyer (Option D - Incorrect).

NEW QUESTION # 48
......

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Pennsylvania Real Estate Commission PA Salesperson State Exam Sample Questions (Q43-Q48):

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