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COLIBRI REAL ESTATE 30 HOUR FINAL PA EXAM 2024/2025 | ACCURATE CURRENTLY TESTING REAL EXAM QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+$17.99
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COLIBRI REAL ESTATE 30 HOUR FINAL PA EXAM 2024/2025 | ACCURATE CURRENTLY TESTING REAL EXAM QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+
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COLIBRI REAL ESTATE 30 HOUR
Institution
COLIBRI REAL ESTATE 30 HOUR
COLIBRI REAL ESTATE 30 HOUR FINAL PA EXAM
2024/2025 | ACCURATE CURRENTLY TESTING REAL
EXAM QUESTIONS WITH DETAILED VERIFIED
ANSWERS (100% CORRECT ANSWERS) /ALREADY
GRADED A+
COLIBRI REAL ESTATE 30 HOUR FINAL PA EXAM
2024/2025 | ACCURATE CURRENTLY TESTING REAL
EXAM QUESTIONS WITH DETAILED VERIFIED
ANSWERS (100% CORRECT ANSWERS) /ALREADY
GRADED A+
Pete is a sole proprietor broker and has six salespeople who he employs. On June 9th,
Pete is killed in a car accident. Tom is one of the salespeople and his listing is set to
close on June 20th. What will happen to the proposed closing?
A). Nothing will happen. Business will go on as usual with the salespeople in charge
until a new broker is found.
B). The estate will notify the Commission within 15 days of death and tell the
Commission that a new termination broker has been found. The closing will continue.
C). The seller will have to cancel the listing and lose the sale since the broker died.
D). The buyer will have to wait for closing until a new listing of the property happens
when a new broker is found and the seller signs a new listing with the new broker. -
ANSWERB
What type of discipline can the Commission use for an unlicensed person acting as a
real estate licensee?
A). A suspension from real estate of six months.
B). Fines up to $2,000 to $5,000.
C). Revocation of the transaction
D). Nothing, the Complaint's office must handle these individuals - ANSWERB
The bank where Broker Bill has his escrow account calls for Bill to be the trustee and
sends him monthly reports so that he can reconcile the books. The bank requires a 48
hour notice for withdrawal of funds and no service charge. Is this bank acceptable to the
Commission?
A). Yes, because there is no service charge, the broker will not have to worry about
commingling of funds.
B). Yes, Bill is the trustee which is a requirement of the Commission for bank
depositories.
C). No, the Commission requires that Bill reconcile his books more often than once a
month.
D). No, the broker must have a bank which allows for withdrawal of funds without
previous notice. - ANSWERD
,Jack has committed several violations of the Act and has been found guilty. His license
has been suspended. What must Jack do?
A). Jack must pay a fine to the Real Estate Recovery Fund.
B). Jack must tell his salespeople of his actions.
C). Jack must return his license to the SREC.
D). Jack must wait 6 months before he can practice real estate again. - ANSWERC
The purpose of a comparative market analysis is?
A). To provide the bank a value on which to give a loan.
B). To provide the insurance company a value for a homeowner's policy
C). To provide the probable range of price to list the house
D). To provide the tax assessor with sale information - ANSWERC
Internet advertisement is an important part of the real estate business in the 21st
century. The broker must do all of the following to do internet advertising EXCEPT:
A). The advertisement must contain the name of the firm.
B). The advertisement must contain the city, state and country where the firm's main
office is located.
C). The advertisement must state the jurisdiction where the licensee is located.
D). The advertisement must contain the phone number including area code. -
ANSWERD
How long must a broker retain the acknowledgement portion of the consumer disclosure
if the transaction is not completed?
A). Six months
B). One year
C). Three years
D). Five years - ANSWERA
When a financing contingency clause is included in a sales contract all of the following
are included except:
A). The buyer's credit rating
B). The mortgage principal
C). The type of mortgage
D). The interest rate of the mortgage - ANSWERA
When a sole proprietor broker dies, his estate must notify the Commission within 15
days of the death to tell the Commission of another licensed broker who will serve as a
termination broker. Which of the following statements is NOT true?
A). No new listings are permitted.
,B). All unexpired listings will automatically expire after 90 days unless cancelled sooner
by the seller.
C). New licensees may be hired to help with the transition.
D). All pending agreements of sale are permitted to close. - ANSWERC
Justin is an unlicensed person and he has been appointed a trustee of a special needs
trust for his nephew. The trust will be funded by the sale of the property of his brother.
Justin lists and sells the property then puts the money into the trust. What best
describes the situation?
A). Justin is acting as a trustee and as such, does not need a real estate license
B). Justin needs a license since he is representing another in selling property.
C). Justin must register with the Commission and the court before selling his brother's
property.
D). Justin cannot sell his brother's property because they are related. - ANSWERA
A dual agency agreement most nearly means:
A). The broker and salesperson have a listing contract
B). The seller and the broker have an agreement.
C). The buyer and the salesperson have a written agreement.
D). The seller and buyer have both signed a written disclosure for equal representation.
- ANSWERD
When handling money as a cemetery broker, when is a transaction considered closed
on cemetery property?
A). When the buyer receives a copy of the agreement of sale.
B). When the buyer receives the consumer notice.
C). When the buyer pays his fees.
D). When the broker records the deed. - ANSWERA
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. -
ANSWERD
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. - ANSWERD
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. - ANSWERD
What is an acknowledgement?
A). It is a signing by a notary who witnessed a deed for a seller.
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. - ANSWERB
What is the maximum compensation that can be paid from the Real Estate Recovery
Fund per licensee that was found guilty?
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. - ANSWERB
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