Pa real estate 3 - Study guides, Class notes & Summaries

PA Real Estate State Portion Latest Update 100% Solved RELRA Real estate licensing and registration act - the commission is responsible for administrating and enforcing rules found in RELRA as well as supervising all activities RELRA comission members: appointed by the Governor for 5 year terms. meet on regular basis as needed, but conduct at least one public meeting in 3 cities Corporeal right of ownership in material things, something tangible such as a building Incorporeal rights to proper...

PA Exam 3 with 100% Correct Answers 2024 Which of the following are NOT grounds in Pennsylvania for revoking a broker's license? A Being convicted of a felony B Agreeing with the seller to accept a commission that is more than the standard rate C Depositing an earnest money check into the broker's personal account D Advertising as a member of the Pennsylvania Association of Real Estate Professionals when the broker is not really a member - answerB It is perfectly legal to agree to accept...

When was RELRA originally passed in Pennsylvania? - May of 1929 When was RELRA changed to a different name? - 1980 What is one of the most important thing RELRA does? - grant ruling- making and enforcement authority to the State Real Estate Commission What does the State Real Estate Commission function under? - The Bureau of Professional and Occupational Affairs, which is part of the Pennsylvania Department of State Who amends RELRA? - State Legislature Who creates rules and regul...

PA Real Estate State Portion Questions and Answers 100% Pass Real Estate Commission has how many members 11 Who are the members of the Comission (1) Commissioner of Professional and Occupational Affairs (1) Director of Bureau of Consumer Protection (5) Brokers of 10+ yrs experience (3) Public at Large Members (1) Broker 5+ years selling cemetery for at least 10+ years How long are terms for Commission members 5 years, MAX 5.5 years If Commission member dies how long does successor with same q...

PA Exam 3 (Actual) Questions and Correct Solutions 2024 Which of the following are NOT grounds in Pennsylvania for revoking a broker's license? A Being convicted of a felony B Agreeing with the seller to accept a commission that is more than the standard rate C Depositing an earnest money check into the broker's personal account D Advertising as a member of the Pennsylvania Association of Real Estate Professionals when the broker is not really a member - Answer -B It is perfectly legal ...

Maryland Real Estate Test Questions and Answers A license may be placed on inactive status for up to - Answer-3 years The requirements for a broker's license include - Answer-three years of experience as a salesperson An unlicensed employee may - Answer-have keys made for company listings to be licensed, applicants must - Answer-be professionally competent and of good character and reputation licensees must give copies of listing agreements to all parties - Answer-in a timely mann...

PA Real Estate Salesperson Exam - State Portion Exam Prep Latest 2023 Graded A AGENCY RELATIONSHIP 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 A broker employed by another broker. BROKER Any person who, for another and for a fee, commission or other valuable consideration: (1) negotiates with or aids any person in locating ...

PA REAL ESTATE #3 WITH COMPLETE SOLUTIONS 100% 2023/2024

PSI REAL ESTATE PRACTICE QUESTIONS AND ANSWERS (100% PASS) The ability of the government to acquire real property against the owner for the benefit of the public. - Answer️️ -Eminent Domain When real property is conveyed to a party through a will. the real property is referred by what term? - Answer️️ -Devise What is the most complete estate in real property? - Answer️️ -Fee Simple What is an exaggerated term from a real estate agent,that would be considered not true? - Answe...

A broker is found guilty and ordered to pay monetary damages to a consumer. What timeframe must the injured party file a claim for payment from the real estate recovery fund? - Answer-Injured parties must file claim to real estate recovery fund one year after termination of proceedings in connection to judgement awarded consumer. What statement is TRUE regarding the real estate recovery fund? - Answer-An agreement of sale must contain disclosure language advising parties of the existence of t...