PA Real Estate Salesperson Exam 2026 -
State Portion Exam Prep Questions and
Answers Latest () (Verified
Answers) Updated And A+ Graded
DISCLOSURE - Correct Answer -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 - Correct Answer -A licensee who acts as an agent for the buyer and
seller, or lessee and landlord, in the same transaction.
PRINCIPAL - Correct Answer -A consumer of real estate services who has entered
into an agency relationship with a broker.
QUALIFIED ASSOCIATION - Correct Answer -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 - Correct Answer -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 - Correct Answer -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 - Correct Answer -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. A subagent is deemed to have an agency relationship with the
seller. "TIME SHARE." The right, however evidenced or documented, to use or
occupy one or more units on a periodic basis according to an arrangement
allocating use and occupancy rights of that unit or those units between other
similar users. As used in this definition, the term "unit" is a building or portion
State Portion Exam Prep Questions and
Answers Latest () (Verified
Answers) Updated And A+ Graded
DISCLOSURE - Correct Answer -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 - Correct Answer -A licensee who acts as an agent for the buyer and
seller, or lessee and landlord, in the same transaction.
PRINCIPAL - Correct Answer -A consumer of real estate services who has entered
into an agency relationship with a broker.
QUALIFIED ASSOCIATION - Correct Answer -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 - Correct Answer -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 - Correct Answer -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 - Correct Answer -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. A subagent is deemed to have an agency relationship with the
seller. "TIME SHARE." The right, however evidenced or documented, to use or
occupy one or more units on a periodic basis according to an arrangement
allocating use and occupancy rights of that unit or those units between other
similar users. As used in this definition, the term "unit" is a building or portion
