Colibri Real Estate 30 Hour Final Pa Exam 2024-2025
Exam With Questions And Correct
Answers
What is the obligation of a broker when he is representing a seller in selling the seller's
property in terms of the Seller Disclosure Act?
A). The broker is not obligated to tell the seller anything. It is up to the seller to
learn about the disclosure act.
B). The disclosure by the seller is optional so the broker is not obligated to require it
of the seller.
C). The disclosure only applies to commercial property so this would not apply in this
case.
D). The broker has the obligation to advise the seller about the Seller
Disclosure Act. D
A new salesperson wants to make an impression on the neighborhood so he
places lots of for sale signs on homeowner's yards. When he does this, it causes
the homeowner and prospective buyers to call the new agent for information. Is
this a legitimate business practice?
A). Yes, this is understated advertising, good for getting new listings and new buyers.
B). Yes, the seller will be pleased if the buyer want to buy the house without
the seller even thinking about it.
C). No, the brokerage company does not like the salesperson advertising
without the broker and seller knowing about it.
D). No, every "for sale" sign must first have a written consent of the owner
of the property. D
Pennsylvania law requires that the seller must disclose material facts to the
buyer. When must this be done?
A). At the first showing of the property to the buyer
B). At the time of initial contact of the buyer
C). At the time of the closing for both parties
D). Prior to the time a sales contract is
written. D
What is an acknowledgement?
A). It is a signing by a notary who witnessed a deed for a seller.
,Colibri Real Estate 30 Hour Final Pa Exam 2024-2025
Exam With Questions And Correct
Answers
B). It is a signature by a consumer who is recognizing the importance of a
written disclosure notice.
C). It is the signature of a broker on a sale contract.
D). It is the signature of the buyer on a listing
contract. B
What is the maximum compensation that can be paid from the Real Estate
Recovery Fund per licensee that was found guilty?
A). $10,000
B). $20,000
C). $50,000
D).
$100,000 D
The Pennsylvania State Real Estate Commission is composed of eleven
members who are appointed by the governor and approved by the Senate. What
is its primary purpose?
A). The primary purpose of the SREC is to provide licensing requirements for
brokers and sales persons.
B). The primary purpose of the SREC is to protect the public
C). The primary purpose of the SREC is to make real estate laws.
D). The primary purpose of the SREC is to collect real
estate fees. B
The Low Country Cemetery Company sells its own property and other property as
burial plots to customers in Pennsylvania. The company actively advertises in the
newspaper and holds public information meetings. This is a for-profit company. What
does this describe?
A). This is a cemetery company selling land to the public for compensation. The
company should have a real estate license.
B). This is a company selling mostly its own property and does not need a
license to sell property.
C). his is a cemetery company selling burial plots to the public. It should be
registered with the Commission.
D). This is a cemetery company but it does not need a license or registration
since the land it sells is sold in small plots.
C
The SREC is investigating a claim by a buyer that he had not been given the
proper disclosure before purchasing a home. The broker has paperwork dating
back three years after the closing of the transaction, Is the broker protected?
,Colibri Real Estate 30 Hour Final Pa Exam 2024-2025
Exam With Questions And Correct
Answers
A). Yes, because the broker had the records dating three years after the close of the
transaction.
B). Yes, because the transaction is closed, no action can be taken.
C). No, because the broker should have keep the records for five years after
the closing of the transaction.
D). No, because the broker cannot prove his case with
records alone. A
Ken represented John in the sale of a home. The sale went well and it closed on
time. Later, John discovered that Ken had told the buyer that John was willing to
take a lower price than was specified on the listing agreement. Ken had also told
the buyer a specific price, lower than the listed price, make an offer to John.
Does John have probable grounds for a lawsuit?
A). Ken, the agent, had poor judgment in dealing with the buyer and seller,
but John has no grounds for suit.
B). Ken, the agent, violated the law of agency.
C). Ken, the agent, was simply trying to help the seller make the sale.
D). Ken is not liable for any problems: the sale closed and both the buyer and
seller signed the closing papers.
B
A time-share salesperson is required to complete 30 hours of instruction in a
Time Shares Sales class before he can be licensed. Which of the following is not
an area of study for a time share salesperson's license?
A). Sales Financing
B). Sales Ethics
C). Sales Practices and Procedures
D). Basic Contract
Law A
Ted is a broker who is a property management broker. He receives the
monthly rent from the tenant and puts the monthly rent money in his escrow
account along with the security deposit money. The Commission charges
Ted with a license law violation. What is the problem?
A). A property management broker must have an operating account.
B). A property management broker must have a rental management
account where rent is deposited.
C). A property management broker must have an escrow account, two
operating accounts and a security deposit account.
D). A property management broker must have a security deposit account
and an operating account.
, Colibri Real Estate 30 Hour Final Pa Exam 2024-2025
Exam With Questions And Correct
Answers
B
Exam With Questions And Correct
Answers
What is the obligation of a broker when he is representing a seller in selling the seller's
property in terms of the Seller Disclosure Act?
A). The broker is not obligated to tell the seller anything. It is up to the seller to
learn about the disclosure act.
B). The disclosure by the seller is optional so the broker is not obligated to require it
of the seller.
C). The disclosure only applies to commercial property so this would not apply in this
case.
D). The broker has the obligation to advise the seller about the Seller
Disclosure Act. D
A new salesperson wants to make an impression on the neighborhood so he
places lots of for sale signs on homeowner's yards. When he does this, it causes
the homeowner and prospective buyers to call the new agent for information. Is
this a legitimate business practice?
A). Yes, this is understated advertising, good for getting new listings and new buyers.
B). Yes, the seller will be pleased if the buyer want to buy the house without
the seller even thinking about it.
C). No, the brokerage company does not like the salesperson advertising
without the broker and seller knowing about it.
D). No, every "for sale" sign must first have a written consent of the owner
of the property. D
Pennsylvania law requires that the seller must disclose material facts to the
buyer. When must this be done?
A). At the first showing of the property to the buyer
B). At the time of initial contact of the buyer
C). At the time of the closing for both parties
D). Prior to the time a sales contract is
written. D
What is an acknowledgement?
A). It is a signing by a notary who witnessed a deed for a seller.
,Colibri Real Estate 30 Hour Final Pa Exam 2024-2025
Exam With Questions And Correct
Answers
B). It is a signature by a consumer who is recognizing the importance of a
written disclosure notice.
C). It is the signature of a broker on a sale contract.
D). It is the signature of the buyer on a listing
contract. B
What is the maximum compensation that can be paid from the Real Estate
Recovery Fund per licensee that was found guilty?
A). $10,000
B). $20,000
C). $50,000
D).
$100,000 D
The Pennsylvania State Real Estate Commission is composed of eleven
members who are appointed by the governor and approved by the Senate. What
is its primary purpose?
A). The primary purpose of the SREC is to provide licensing requirements for
brokers and sales persons.
B). The primary purpose of the SREC is to protect the public
C). The primary purpose of the SREC is to make real estate laws.
D). The primary purpose of the SREC is to collect real
estate fees. B
The Low Country Cemetery Company sells its own property and other property as
burial plots to customers in Pennsylvania. The company actively advertises in the
newspaper and holds public information meetings. This is a for-profit company. What
does this describe?
A). This is a cemetery company selling land to the public for compensation. The
company should have a real estate license.
B). This is a company selling mostly its own property and does not need a
license to sell property.
C). his is a cemetery company selling burial plots to the public. It should be
registered with the Commission.
D). This is a cemetery company but it does not need a license or registration
since the land it sells is sold in small plots.
C
The SREC is investigating a claim by a buyer that he had not been given the
proper disclosure before purchasing a home. The broker has paperwork dating
back three years after the closing of the transaction, Is the broker protected?
,Colibri Real Estate 30 Hour Final Pa Exam 2024-2025
Exam With Questions And Correct
Answers
A). Yes, because the broker had the records dating three years after the close of the
transaction.
B). Yes, because the transaction is closed, no action can be taken.
C). No, because the broker should have keep the records for five years after
the closing of the transaction.
D). No, because the broker cannot prove his case with
records alone. A
Ken represented John in the sale of a home. The sale went well and it closed on
time. Later, John discovered that Ken had told the buyer that John was willing to
take a lower price than was specified on the listing agreement. Ken had also told
the buyer a specific price, lower than the listed price, make an offer to John.
Does John have probable grounds for a lawsuit?
A). Ken, the agent, had poor judgment in dealing with the buyer and seller,
but John has no grounds for suit.
B). Ken, the agent, violated the law of agency.
C). Ken, the agent, was simply trying to help the seller make the sale.
D). Ken is not liable for any problems: the sale closed and both the buyer and
seller signed the closing papers.
B
A time-share salesperson is required to complete 30 hours of instruction in a
Time Shares Sales class before he can be licensed. Which of the following is not
an area of study for a time share salesperson's license?
A). Sales Financing
B). Sales Ethics
C). Sales Practices and Procedures
D). Basic Contract
Law A
Ted is a broker who is a property management broker. He receives the
monthly rent from the tenant and puts the monthly rent money in his escrow
account along with the security deposit money. The Commission charges
Ted with a license law violation. What is the problem?
A). A property management broker must have an operating account.
B). A property management broker must have a rental management
account where rent is deposited.
C). A property management broker must have an escrow account, two
operating accounts and a security deposit account.
D). A property management broker must have a security deposit account
and an operating account.
, Colibri Real Estate 30 Hour Final Pa Exam 2024-2025
Exam With Questions And Correct
Answers
B
