PA REAL ESTATE ACTUAL PRACTEICE EXAM 2026-2027\Test Bank Exam
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In order to work as a property manager for compensation, an individual must
A. complete a certification for property management
B. pass a separate examination in principles of a property management
C. complete at least one course in property management every two years
D. hold a real estate license and, if not a broker, be supervised by a broker
A. complete a certification for property management
An Affiliate broker who operates as an independent contractor for a broker is
seldom in the office. Earnest money deposit received by this affiliate broker
A - may Be kept temporarily in an escrow account opened by the Affiliate Broker.
B - Should be transmitted to the principal broker immediately after receipt.
C - May be held by the affiliate broker for 3 business days.
D - Should be returned to the buyer to transmit to the broker.
A - may Be kept temporarily in an escrow account opened by the Affiliate Broker.
If the broker has a property management division, property owners' funds are
to be kept in an account labeled
A - escrow account
B - property account
C - reserve emergency account
D - operating account
B - property account
,A licensed real estate affiliate broker may not
A - Accept compensation for acts requiring a real estate license from any party
except her licensed real estate broker.
B - wrote an offer for a lease-option
C - operate under an open listing.
D - take an exclusive agency listing.
A - Accept compensation for acts requiring a real estate license from any party
except her licensed real estate broker.
You are representing the seller and have just obtained the signature of the
seller on an offer to purchase. What is your next step?
A - Record and file the signed copy at the office.
B - deliver a signed copy to the buyer.
C - Call the buyer to notify her of the offer's acceptance.
D - leave a signed copy with the seller.
A - Record and file the signed copy at the office.
In leasing a residential or commercial property, the consumer notice only needs
to
A. be signed by the landlord
B. be provided if the property is over 1000 square feet
C. show the property address, date and the name of the client
D. be provided orally if the contact with the customer is by phone
A. be signed by the landlord
, Which of the following is TRUE with respect to designated agency?
A. The designation must occur at the time the parties enter into a written
agreement
B. regardless of who is the designated agent, all agents in the company owe a
fiduciary duty to the client
C. once an agent is designated to act for a client, the broker is no longer
responsible for protecting confidentiality information
D. the employing broker is always a dual agent in an in an in-house transaction,
and has the responsibility for maintaining confidentiality
B. regardless of who is the designated agent, all agents in the company owe a
fiduciary duty to the client
An owner sells a house through a salesperson who works as an independent
contractor for a broker. Before the closing the owner fires the broker. However,
the owner agrees to pay the salesperson a $1000 fee for his services which of
the following is TRUE?
A. The salesperson cannot legally accept $1000
B. the owner can cancel any part of the sales contract at anytime
C. the salesperson may legally accept the $1000
D. the salesperson may only accept the $1000 with the broker's consent
C. the salesperson may legally accept the $1000
When using the services of a real estate licensee to find a residence to lease, a PA
consumer must be provided with?
a. consumer notice
b. rental application
c. plain language residential lease
d. landlords led-based disclosure
a. consumer notice
||Most Recent Exam Actual Complete Real Exam Questions And Correct
Answers (Verified Answers) Already Graded A+ | Guaranteed Success!!
Newest Exam | Just Released!!
In order to work as a property manager for compensation, an individual must
A. complete a certification for property management
B. pass a separate examination in principles of a property management
C. complete at least one course in property management every two years
D. hold a real estate license and, if not a broker, be supervised by a broker
A. complete a certification for property management
An Affiliate broker who operates as an independent contractor for a broker is
seldom in the office. Earnest money deposit received by this affiliate broker
A - may Be kept temporarily in an escrow account opened by the Affiliate Broker.
B - Should be transmitted to the principal broker immediately after receipt.
C - May be held by the affiliate broker for 3 business days.
D - Should be returned to the buyer to transmit to the broker.
A - may Be kept temporarily in an escrow account opened by the Affiliate Broker.
If the broker has a property management division, property owners' funds are
to be kept in an account labeled
A - escrow account
B - property account
C - reserve emergency account
D - operating account
B - property account
,A licensed real estate affiliate broker may not
A - Accept compensation for acts requiring a real estate license from any party
except her licensed real estate broker.
B - wrote an offer for a lease-option
C - operate under an open listing.
D - take an exclusive agency listing.
A - Accept compensation for acts requiring a real estate license from any party
except her licensed real estate broker.
You are representing the seller and have just obtained the signature of the
seller on an offer to purchase. What is your next step?
A - Record and file the signed copy at the office.
B - deliver a signed copy to the buyer.
C - Call the buyer to notify her of the offer's acceptance.
D - leave a signed copy with the seller.
A - Record and file the signed copy at the office.
In leasing a residential or commercial property, the consumer notice only needs
to
A. be signed by the landlord
B. be provided if the property is over 1000 square feet
C. show the property address, date and the name of the client
D. be provided orally if the contact with the customer is by phone
A. be signed by the landlord
, Which of the following is TRUE with respect to designated agency?
A. The designation must occur at the time the parties enter into a written
agreement
B. regardless of who is the designated agent, all agents in the company owe a
fiduciary duty to the client
C. once an agent is designated to act for a client, the broker is no longer
responsible for protecting confidentiality information
D. the employing broker is always a dual agent in an in an in-house transaction,
and has the responsibility for maintaining confidentiality
B. regardless of who is the designated agent, all agents in the company owe a
fiduciary duty to the client
An owner sells a house through a salesperson who works as an independent
contractor for a broker. Before the closing the owner fires the broker. However,
the owner agrees to pay the salesperson a $1000 fee for his services which of
the following is TRUE?
A. The salesperson cannot legally accept $1000
B. the owner can cancel any part of the sales contract at anytime
C. the salesperson may legally accept the $1000
D. the salesperson may only accept the $1000 with the broker's consent
C. the salesperson may legally accept the $1000
When using the services of a real estate licensee to find a residence to lease, a PA
consumer must be provided with?
a. consumer notice
b. rental application
c. plain language residential lease
d. landlords led-based disclosure
a. consumer notice
