Pa real estate 1 - Study guides, Class notes & Summaries

PSI PA State Real Estate Practice Exam/ 90+ Qs and Ans/ . Terms like: Burdensome disclosure requirements are readily satisfied -Mitigation controls can be enforced regardless of ownership - Answer: Benefits of the UEAC True or False Pennsylvania, has abolished the common law concepts of dower and curtesy. - Answer: True Requires the seller to provide notice to a purchaser about whether a structure on the land is entitled to support from the underlying coal. - Answer: Coal Notice T...

1. Which of the following entries satisfies the requirement that an advertisement show that the broker is in the real estate brokerage business? A. J. Jones Realty B. J. Jones, Real Properties C. J. Jones, Real Estate Agency D. J. Jones, Real estate Ventures Answer: C All ads must indicate the name of the brokerage company followed by a term such as REALTOR, Realtist, real estate broker, or real estate agency. 2. A manager rents a unit to a tenant who later has a car accident and is conf...

90 days if it is an initial complaint against the licensee. If the real estate commission receives a copy of a complaint files with the PA Human Relations Commission alleging that a licensee has violated a provision of the PA Human Relations Act, what is the waiting period before the real estate commission may proceed with its own disciplinary action against the licensee? the associate broker must notify the Commission no later than 10 days after the intended date of change, pay the...

How many people are on the Commission? correct answers Eleven How do people get on the Commission? correct answers Chosen by the governor for staggered five-year terms Are people elected or appointed? correct answers Appointed by governor What does the Commission need to do business? correct answers A Quorum (MAJORITY) of at least six people Where does the Commission meet? correct answers Harrisburg, Philly, Pittsburgh Specific powers and duties of Commission: correct answers 1. I...

PSI Real Estate Practice Exam - Michigan (Chapter 1)Designated Agent - correct answer A person authorized by the broker to act as the agent of a specific principal - common in dual agency relationships, two salespersons from the same company can represent opposite sides of the sale. Income Approach - correct answer What approach does an appraiser take primarily for an investment property? 1.) "Personal Assistant" (Answer) 2.) "Agent-Assistant" 3.) "Proxy-Agent" 4.) "Broker-Assign...

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 - ️️Uniform Environmental Covenants Act (UEAC), which took effect in February 2008 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. Th...

ARELLO - Answer-Association of Real Estate License Law Officials - Uniform policies and standards for administering and enforcing state license laws are promoted by them License Laws - Answer-are to regulate the real estate industry. Their main objective is to ensure that the rights of purchasers, sellers, tenants and landlords are protected from unscrupulous or sloppy practices. Laws can make the marketplace more honest. PA's first real estate license law was adopted - Answer-May 1 1929 ...