PENNSYLVANIA REAL ESTATE EXAM –
PRACTICE EXAM WITH CORRECT
ACTUAL QUESTIONS AND CORRECTLY
WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+
Pennsylvania Real Estate State Exam – Practice Test
PART 1: Questions 1–25
1. A valid real estate contract must include all of the
following EXCEPT:
A. Legal purpose
B. Competent parties
C. Written notarization
D. Offer and acceptance
Answer: C
Explanation:
,A valid contract requires legal purpose, competent parties,
offer and acceptance, and consideration. Notarization is
NOT required for a real estate contract to be valid in
Pennsylvania, although it may be required for recording
certain documents.
2. Which type of ownership includes the right of
survivorship?
A. Tenancy in common
B. Joint tenancy
C. Severalty ownership
D. Tenancy in partnership
Answer: B
Explanation:
Joint tenancy includes the right of survivorship, meaning
when one owner dies, their share automatically passes to
the surviving owners.
3. Which document gives a lender the right to foreclose if a
borrower defaults?
,A. Deed
B. Mortgage
C. Lease
D. Title insurance policy
Answer: B
Explanation:
A mortgage (or deed of trust in some states) is a security
instrument that allows foreclosure if loan terms are not
met.
4. What is the primary purpose of a deed?
A. To provide financing
B. To transfer ownership
C. To record taxes
D. To establish zoning
Answer: B
, Explanation:
A deed is a legal document used to transfer ownership of
real property from one party to another.
5. Which appraisal approach is most commonly used for
residential properties?
A. Cost approach
B. Income approach
C. Sales comparison approach
D. Gross rent multiplier approach
Answer: C
Explanation:
The sales comparison approach compares similar recently
sold properties and is the most common method for
residential appraisals.
6. Which of the following is an example of a fixed expense?
PRACTICE EXAM WITH CORRECT
ACTUAL QUESTIONS AND CORRECTLY
WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+
Pennsylvania Real Estate State Exam – Practice Test
PART 1: Questions 1–25
1. A valid real estate contract must include all of the
following EXCEPT:
A. Legal purpose
B. Competent parties
C. Written notarization
D. Offer and acceptance
Answer: C
Explanation:
,A valid contract requires legal purpose, competent parties,
offer and acceptance, and consideration. Notarization is
NOT required for a real estate contract to be valid in
Pennsylvania, although it may be required for recording
certain documents.
2. Which type of ownership includes the right of
survivorship?
A. Tenancy in common
B. Joint tenancy
C. Severalty ownership
D. Tenancy in partnership
Answer: B
Explanation:
Joint tenancy includes the right of survivorship, meaning
when one owner dies, their share automatically passes to
the surviving owners.
3. Which document gives a lender the right to foreclose if a
borrower defaults?
,A. Deed
B. Mortgage
C. Lease
D. Title insurance policy
Answer: B
Explanation:
A mortgage (or deed of trust in some states) is a security
instrument that allows foreclosure if loan terms are not
met.
4. What is the primary purpose of a deed?
A. To provide financing
B. To transfer ownership
C. To record taxes
D. To establish zoning
Answer: B
, Explanation:
A deed is a legal document used to transfer ownership of
real property from one party to another.
5. Which appraisal approach is most commonly used for
residential properties?
A. Cost approach
B. Income approach
C. Sales comparison approach
D. Gross rent multiplier approach
Answer: C
Explanation:
The sales comparison approach compares similar recently
sold properties and is the most common method for
residential appraisals.
6. Which of the following is an example of a fixed expense?
