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

PA Appraisers License Exam Questions with Verified Answers 2025 1: What is the primary purpose of the Pennsylvania Appraisers License Exam?--- correct answer ---The primary purpose of the Pennsylvania Appraisers License Exam is to assess the candidates knowledge and competence in real estate appraisal practices and to ensure they meet the states regulatory standards for licensed appraisers. 2: What is USPAP and why is it important for appraisers?--- correct answer --- USPAP stands for the...

PSI PA State Real Estate License Exam – With All Verified Solutions (Expert Rated A+) PSI PA State Real Estate License Exam – With All Verified Solutions (Expert Rated A+) Which of the following is not a requirement of the Real Estate Settlement Procedures Act? - ANSWER-A limit is placed on the fees a lender can charge a borrower. According to the Real Estate Settlement Procedures Act, which of the following is not true? - ANSWER-Deposit money. Which of the following is in the corr...

AGENCY RELATIONSHIP - ANSWER A relationship whereby the broker or licensees in the employ of the broker act as fiduciaries for a consumer of real estate services by the express authority of the consumer of real estate services. ASSOCIATE BROKER - ANSWER A broker employed by another broker. BROKER - ANSWER Any person who, for another and for a fee, commission or other valuable consideration: (1) negotiates with or aids any person in locating or obtaining for purchase, lease or an acqui...

PA Real Estate 1

Real Estate Practice Exam Questions and Answers 100% Pass 1. Brokerage definition... the business practice of bringing together the parties in a practice. 2. What are two examples of special use property? schools and cemetary 3. What is an example of functional obsolescence? bathroom 4. Principal definition... a consumer of real estate services who has entered into an agency relationship with a broker or another licensee employed by a broker. 5. Capitalization definition... th...

PSI PA State Real Estate License Exam – With 100% Verified Solutions (Rated A+) PSI PA State Real Estate License Exam – With 100% Verified Solutions (Rated A+) 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 Three conditions that must be met for a mobile home to be considered real estate - ANSWER-1. Mobile home is transferred in conjunction with and as a part of an assignme...

You decide to help negotiate the sales price of a buddy's place even though you don't yet have a license. After the sale he pays you $50 in appreciation of your efforts. Why would this be considered an illegal activity? Bc you can't accept any amount of compensation for negotiating the sales price of a home that isn't your own if you don't have a license. Linda is a real estate licensee in PA. She's selling her condo and will be buying a house. What is she required t...

PSI Real Estate Practice Exam - Michigan (Chapter 1) Graded A+ Designated Agent ️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 ️What approach does an appraiser take primarily for an investment property? 1.) "Personal Assistant" (Answer) 2.) "Agent-Assistant" 3.) "Proxy-Agent" 4.) "Broker-Assignee" ️Ch...

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...