PA - Licensure in Pennsylvania Exam
Questions and Answers
Real estate activities requiring licensure - Answer-For a fee or other consideration:
engaging in or advertising oneself as being in the real estate profession, negotiating or
aiding another in a real estate transaction, managing real estate, performing a CMA
Parties exempt from licensure requirements - Answer-- Trustees, executors,
administrators, etc. acting per a court order
- Auctioneers performing an auction
- POA-appointed parties
- Bank officers/directors transferring bank-owned property
- Utility employee/corporations negotiating for utility-related business
- Cemetery workers showing plots and accepting deposits
Broker vs. salesperson - Answer-A broker can practice independently or supervise other
licensees. Salespersons must work under a broker's supervision.
Reciprocal license - Answer-A license that allows Pennsylvania licensees to practice
real estate in other states (determined by the commission) and vice versa; subject to
Pennsylvania license law
Standard license - Answer-Any license that is not a reciprocal license (e.g.,
salesperson, associate broker, broker)
States with which Pennsylvania has established reciprocal licensing agreements -
Answer-Arkansas, Georgia, Louisiana, Maryland, Massachusetts, New York
Real estate business and affiliation rules - Answer-- Business must be conducted in
registered name
- Corporations must designate a licensed broker of record
- Brokers must have a fixed place of business
- Each branch office needs its own license and a licensed broker-in-charge
- If address changes, all licenses must be updated within 10 days
- Licensees may only affiliate with one broker at a time
Continuing education requirements - Answer-Complete 14 hours of commission-
approved coursework by May 31 of every even-numbered year (two-year licensing
period), pay a renewal fee
Parties exempt from continuing education requirements - Answer-- Reciprocal license
holders
- Cemetery brokers/salespersons
- Builder-owner salespersons
Questions and Answers
Real estate activities requiring licensure - Answer-For a fee or other consideration:
engaging in or advertising oneself as being in the real estate profession, negotiating or
aiding another in a real estate transaction, managing real estate, performing a CMA
Parties exempt from licensure requirements - Answer-- Trustees, executors,
administrators, etc. acting per a court order
- Auctioneers performing an auction
- POA-appointed parties
- Bank officers/directors transferring bank-owned property
- Utility employee/corporations negotiating for utility-related business
- Cemetery workers showing plots and accepting deposits
Broker vs. salesperson - Answer-A broker can practice independently or supervise other
licensees. Salespersons must work under a broker's supervision.
Reciprocal license - Answer-A license that allows Pennsylvania licensees to practice
real estate in other states (determined by the commission) and vice versa; subject to
Pennsylvania license law
Standard license - Answer-Any license that is not a reciprocal license (e.g.,
salesperson, associate broker, broker)
States with which Pennsylvania has established reciprocal licensing agreements -
Answer-Arkansas, Georgia, Louisiana, Maryland, Massachusetts, New York
Real estate business and affiliation rules - Answer-- Business must be conducted in
registered name
- Corporations must designate a licensed broker of record
- Brokers must have a fixed place of business
- Each branch office needs its own license and a licensed broker-in-charge
- If address changes, all licenses must be updated within 10 days
- Licensees may only affiliate with one broker at a time
Continuing education requirements - Answer-Complete 14 hours of commission-
approved coursework by May 31 of every even-numbered year (two-year licensing
period), pay a renewal fee
Parties exempt from continuing education requirements - Answer-- Reciprocal license
holders
- Cemetery brokers/salespersons
- Builder-owner salespersons
