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Pennsylvania Real Estate Commission RePA_Sales_S Exam Syllabus Topics:

Topic
Details

Topic 1

Real Estate Commission: This section of the exam measures skills of Real Estate Salespersons and covers the fundamental duties and powers of the Real Estate Commission. It includes understanding how complaints are handled, how investigations and hearings are conducted, and the processes for appeals. Candidates are also expected to be familiar with the Real Estate Recovery Fund, which provides protection for consumers in certain cases.

Topic 2

Regulations Governing the Activities of Licensees: This section of the exam measures the skills of Real Estate Brokers and centers on the professional standards and regulations that govern daily practice. It reviews rules regarding advertising, the working relationship between brokers and salespersons, and the proper handling of client funds and accounts. It also highlights prohibited conduct, as well as the conditions that can lead to suspension or revocation of a license.

Topic 3

Miscellaneous: This section of the exam measures the skills of Real Estate Salespersons and includes several additional knowledge areas important for practice. Candidates are expected to understand property disclosures, the preparation and handling of contracts and forms, and the Pennsylvania Human Relations Act. It also covers the regulations relating to time-shares, as well as leasing and rental practices that are part of everyday real estate transactions.

Topic 4

Licensure: This section of the exam measures skills of Real Estate Brokers and focuses on licensure requirements. It emphasizes qualifications necessary for obtaining a license, the activities that legally require licensure, and the processes for license renewal or reactivation. Additionally, it includes the rules for changing employment as a licensee and outlines specific exemptions from licensure under Pennsylvania law.

Topic 5

Agency and Disclosure: This section of the exam measures the skills of Real Estate Salespersons and addresses the importance of proper agency and disclosure. It evaluates knowledge of agency disclosures, the duties of licensees, and how different agency relationships function in practice. It also covers compensation rules and the responsibilities that come with working under different types of agency agreements.

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Pennsylvania Real Estate Commission PA Salesperson State Exam Sample Questions (Q37-Q42):

NEW QUESTION # 37
When representing a seller, which of the following is a TRUE statement regarding the duties a licensee owes to the principal?

A. A licensee's obligation of confidentiality ends at the conclusion of the listing contract.
B. A licensee is required to keep confidential the price the seller would accept if lower than the list price.
C. A licensee is not obligated to disclose the existence of another offer during negotiations on a purchase contract.
D. A licensee is obligated to disclose to a consumer the minimum commission split between the licensee and the broker.

Answer: B

Explanation:
Alicensee has a fiduciary duty to keep the seller's pricing strategy confidential.
* 49 Pa. Code § 35.292 (Duties of Licensees Generally)states thata licensee must maintain confidentiality of information that could harm their client's negotiating position, including the minimum price the seller would accept.
* Confidentiality extends beyond the duration of the listing agreementunless the seller gives explicit permission to disclose information.
Why the other answers are incorrect:
* Option A (Confidentiality Ends After Listing):Confidentiality continueseven after the contract ends
.
* Option B (Not Disclosing Another Offer):In multiple-offer situations, disclosure may be required based on seller instructions.
* Option D (Commission Disclosure):The broker's commission arrangement isnot requiredto be disclosed to the public.

NEW QUESTION # 38
Which entities are authorized to investigate charges against real estate licensees concerning illegal discrimination in the sale or rental of housing?

A. The Pennsylvania Real Estate Commission and the Pennsylvania Human Relations Commission
B. The Pennsylvania Real Estate Commission and the Better Business Bureau
C. The Pennsylvania State Legislature and the Pennsylvania Real Estate Commission
D. The Pennsylvania Human Relations Commission and the Pennsylvania State Legislature

Answer: A

Explanation:
Both thePennsylvania Real Estate Commission (PREC)and thePennsylvania Human Relations Commission (PHRC)haveauthority to investigate illegal discriminationin real estate transactions.
* The Pennsylvania Human Relations Commission (PHRC)is responsible for enforcingthe Pennsylvania Human Relations Act (PHRA), which prohibits discrimination in housing based on race, color, religion, ancestry, age, sex, national origin, disability, and familial status.
* The Pennsylvania Real Estate Commission (PREC)investigates complaints againstlicensed real estate professionalswho violate fair housing laws, including violations of theReal Estate Licensing and Registration Act (RELRA).
Why the other answers are incorrect:
* Option A (Pennsylvania State Legislature and PREC):The Legislaturemakes lawsbutdoes not enforcethem or conduct investigations.
* Option B (PREC and Better Business Bureau):TheBetter Business Bureau (BBB) is a private organizationand doesnot have legal enforcement authority.
* Option C (PHRC and Legislature):The Legislature doesnot investigate complaints, but the PHRC does.
References:
Pennsylvania Human Relations Act (PHRA) - 43 P.S. § 951(PHRC Enforcement) Real Estate Licensing and Registration Act (RELRA) - 63 P.S. § 455.101(PREC Enforcement)

NEW QUESTION # 39
Interest earned on an escrow account is:

A. Payable subject to an agreement between the parties.
B. Equally divided between the listing and selling brokers.
C. Payable to the broker holding the deposit.
D. Equally divided between the buyer and seller.

Answer: A

Explanation:
Under49 Pa. Code § 35.326 (Escrow Accounts and Interest),interest earned on escrow accounts belongs to the party or parties as determined by the terms of the contract or agreement.
* A broker cannot personally benefit from interest earned on escrow funds unless the contract explicitly allows it.
* The purchase agreement must specify how the interest is handled, whether it is payable to the buyer, seller, or split between parties.
Why the other answers are incorrect:
* Option A (Payable to the Broker):A broker cannot keep interest from an escrow account unless agreed upon in writing.
* Option B (Equally Divided Between Buyer and Seller):Interest division is not automatic; it must be outlined in the contract.
* Option C (Equally Divided Between Brokers):Brokers do not have rights to escrow interest unless explicitly agreed upon.

NEW QUESTION # 40
Interest earned on an escrow account is:

A. Payable subject to an agreement between the parties.
B. Equally divided between the listing and selling brokers.
C. Payable to the broker holding the deposit.
D. Equally divided between the buyer and seller.

Answer: A

NEW QUESTION # 41
According to Pennsylvania license law, the buyer has the right to cancel purchase of which of the following?

A. Apartment with outstanding mortgage
B. House owned by the salesperson
C. Timeshare
D. Office space

Answer: C

NEW QUESTION # 42
......

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