PSI PA State Real Estate Practice Exam Questions and Answers 100 Pass
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Course
NU1426
Institution
NU1426
PSI PA State Real Estate Practice Exam Questions and Answers 100% Pass
Requires the seller to provide notice to a purchaser about whether a structure on the land is entitled to support from the underlying coal.
Three conditions that must be met for a mobile home to be considered real estate
The ...
PSI PA State Real Estate Practice Exam
Questions and Answers 100% Pass
1). Requires the seller to provide notice to a purchaser about whether a structure on the land is
entitled to support from the underlying coal.
Ans: Coal Notice
2). Three conditions that must be met for a mobile home to be considered real estate
Ans: 1. Mobile home is transferred in conjunction with and as a part of an assignment
of a land lease or the transfer of an interest in land on which the mobile home is situated;
or
2. Mobile home is permanently attached to a foundation, and
3. Registration of the mobile home is canceled by the owner with the Pennsylvania Bureau
of Motor Vehicles
3). The governing body of a municipality is responsible for enacting the comprehensive plan,
zoning, and subdivision ordinances in accordance with procedures in the pennsylvania
municipalities planning code. they may appoint a planning commission to be responsible
for formulating the recommended plans and ordinances. public hearings must be held prior
to their enactment by the governing body.
Ans: Zoning
4). Charges permitted by the pennsylvania municipalities planning code to help defray the cost
of streets to keep up with development
Ans: Impact Fees
5). Went into effect in july 2004, as prescribed by the pennsylvania construction code act that
was passed in 1999. *in addition to satisfying the purpose of construction codes, the act
encourages the use of state-of-the-art construction methods and systems and eliminates
existing codes that are obsolete, overly restrictive, or conflicting.
Ans: Uniform Construction Code (UCC)
6). Oversee's pa's environmental laws
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, Ans: Department of Environmental Protection
7). Passed by the department of environmental protection *gives notice to prospective buyers
that if a property is not serviced by a public sewage system and no community sewage
system is available, a permit for an individual system must be obtained
Ans: Pennsylvania Sewage Facilities Act in 1994
8). Provides for the rehabilitation or recycling of brownfields by providing a mechanism to
enforce hazard mitigation controls and ease concerns about the future liability associated
with contaminated properties
Ans: Uniform Environmental Covenants Act (UEAC), which took effect in February 2008
9). Burdensome disclosure requirements are readily satisfied -mitigation controls can be
enforced regardless of ownership
Ans: Benefits of the UEAC
10). True or false pennsylvania, has abolished the common law concepts of dower and curtesy.
Ans: True
11). Created when the person claiming the easement has made use of another's land for 21
years in pa. the claimant's use must have been continuous, exclusive, and without the
owner's approval. through the principle of tacking (discussed in unit 5), successive periods
of adverse possession by different adverse possessors can be combined so that a person
who is not in possession for the entire statutory time may establish a claim.the use must be
visible, open, and notorious, that is, the owner must have been able to learn of it. the
claimant is entitled to assert a right to use the property and cannot claim ownership.
prescriptive easements cannot usually be acquired on public land.
Ans: Easement by Prescription
12). The pennsylvania landlord/tenant act also specifies the time period that is required for
notice in a variety of circumstances
Ans: Normally, one week's notice is required to terminate an estate from week to week;
one month's notice is required to terminate an estate from month to month; and three
months' notice is required to terminate an estate from year to year.
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, 13). True or false the statute of frauds in pennsylvania requires contracts for more than two
years duration to be in writing.
Ans: False, contracts for more than three years duration are required to be in writing.
However a written agreement can be used for any period of time.
14). In pennsylvania, the law requires payment of transfer taxes on leases that run for more than
a total of ____ years.
Ans: 30
15). Limits on security deposits
Ans: 1st Year-the maximum amount of the security deposit cannot exceed a sum
equivalent to two months' rent 2nd Year-the amount drops to a sum equivalent to one
month's rent During years 2-5-the landlord may increase the amount of security deposit,
following the same monthly equivalency formula, to keep pace with increasing rents After
5 years- the landlord cannot increase the amount of security deposit.
16). Pennsylvania law permits a landlord to purchase a guarantee, or surety, bond to guarantee
the return of a security deposit to the tenant. the landlord may exercise this option in lieu of
escrowing a security deposit in a financial institution. the landlord must return the amount
of the bond (including any interest) less the cost of any necessary repairs to the tenant at
the end of the lease term.
Ans: Bond in lieu of escrowing
17). Tenants in certain situations must be given an explanation of rights informing them of the
consequence of confession of judgment when they sign a lease that contains this clause.
Ans: Confession of Judgement
18). In pennsylvania, only a memorandum of lease is filed. a memorandum of lease gives notice
of the interest but does not disclose the terms of the lease to the public. only the names of
the parties and a description of the property are included.
Ans: Recording a lease
19). The theory of this warranty is that the lessor who leases residential premises warrants that
the premises shall be fit for habitation. if the tenant proves that the premises are not fit for
habitation, the court can order a reduction or cessation of rental payment.
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