62. According to the exam requirements, you must master multiple subjects to successfully pass the Cosmetology exam. The clause in a listing contract that protects the broker's commission entitlement beyond the listing term in the event of a sale of the property by the owner to a prospect who was shown the property by the listing firm or it's agents is called. The Department of State, not the Pennsylvania Real Estate Commission, issues real estate licenses (401). No endorsement from any professional organization is required nor is there any requirement regarding posting a surety bond. 172. 2. red wing mens dress shoes; A trainer or handler of guide dogs for persons with disabilities wants to rent an apartment from the landlord and requests that guide dogs be permitted in the apartment. The Pennsylvania Human Relations Commission does not have the power to suspend or revoke licenses. 202. 181. The purpose of South Carolina license law is to: a. determine the amount of commission an agent can charge a seller. When do real estate salespersons' licenses expire in Pennsylvania? 172. B) The standard commission on rentals is 10% of the lease. 111. Call centers today play an important role in managing day-to-day business communications with customers. 2. Upon obtaining an exclusive listing, a broker or licensed salesperson is obligated to. 1. Which of the following could be construed as the unauthorized practice of law? 200. 83. Exclusive-right-to-sell listing contracts are required to contain a statement in bold type that the broker earns a commission on the sale of the property during the listing period no matter who made the sale, including the owner (35.332 (b)). The purpose of laws, including licensing laws, is to provide for the good, safety, and welfare of the public. License law provides that an aggrieved person who has been awarded a judgment by a court of competent jurisdiction must make application to the recovery fund no more than one year after the termination of the proceedings, including reviews and appeals (803 (b)(4)). 1. 49. 907386858087907884717288, Mark686558947691628175838574\begin{array}{lllllllllllll}\text { Mark } & 68 & 65 & 58 & 94 & 76 & 91 & 62 & 81 & 75 & 83 & 85 & 74\end{array} 182. Only the broker has the authority by the license law to hire or employ salespersons or associate brokers. Which is true concerning the Commission Chairperson? An unlicensed salesperson negotiated the sale of real estate in return for the promise of compensation. A buyer has just entered into a contract to buy a time-share interest in a unit from the developer. 170. In this case all of the following requirements would apply EXCEPT the. A qualified expert's report covering property condition is not required when a seller lists property for sale with a broker. 2. In terms of communication, the Commission must. 12 members who are appointed by the governor and serve a 4-year term. Anyone over the age of 40 constitutes a protected class in Pennsylvania. 19. 2. In this position, the on-site manager. If the commission pays an amount in settlement of a claim against a licensee, the license of that person is automatically suspended upon the effective date of payment and will not be reinstated until the licensee has repaid the amount in full plus interest at the rate of 10% per year (803 (f)). When does a real estate license in Washington expire? b. define disclosure requirements concerning material defects in property. A lease for a term of more than three years must be written in order to be enforceable. Some people and situations are exempt from the provisions of the Pennsylvania Real Estate License Act. In Pennsylvania all of the following would be grounds for revoking a broker's license EXCEPT. 4. D) Rents are not deposited into an escrow account. 87 percent D) 154. In this situation, will the broker receive approval for the branch office? A licensed salesperson may hold an active license with more than one Pennsylvania broker under which of the following circumstances? 131. 6. 129. 55. B) Recommendations are required for licensure as a broker, rather than a condition of taking the examination. Any violation of the Pennsylvania Human Relations Act also constitutes a violation of the license law (604 (a)(22)). The broker hires an unlicensed individual for the purpose of managing and maintaining the property. 12. 24. 2. The original listing agent. The current statute does not require disclosure of situations such as suicide of the former seller. The file Service Level contains the following data for time, in seconds, to answer 50 incoming calls to a financial services call center: 16141619614155161817226181015126191616151325917121051523111214249101314261920132428152181612\begin{array}{rrrrrrrrrrrrrrr}16 & 14 & 16 & 19 & 6 & 14 & 15 & 5 & 16 & 18 & 17 & 22 & 6 & 18 & 10 \\ 15 & 12 & 6 & 19 & 16 & 16 & 15 & 13 & 25 & 9 & 17 & 12 & 10 & 5 & 15 \\ 23 & 11 & 12 & 14 & 24 & 9 & 10 & 13 & 14 & 26 & 19 & 20 & 13 & 24 & 28 \\ 15 & 21 & 8 & 16 & 12 & & & & & & & & & & \end{array} 165. 1. Salesperson licensees are not qualified to serve on the commission. Brokers may not engage in discriminatory conduct (604(a)(22)). 43. Fees are not determined by law, the real estate commission, or local brokers. 80 terms. To remain in active practice, the affiliates are required to find new employing brokers. b) establishing fees and issuing licenses. A licensed salesperson negotiates an offer to purchase on a property listed for sale with a different company. 53. 136. License law requires the broker to immediately deposit earnest money deposits in a separate custodial or trust fund account maintained by a bank or recognized depository until the transaction is consummated or terminated (604 (a)(5)(iv)). Understanding Cultural Diversity Throughout The United States, Changing Business Landscape : Organizational Change, Analysis Of George Orwell 's ' Animal Farm ', Afghanistan Is A Country With A Deep History. One year of active licensure A broker who discriminates against a prospect in either commercial or residential property transactions is in violation of both the Pennsylvania Human Relations Act and the license law. 25. 3. 2. Chapter 1: Unit 2 - Georgia Licensing Law (Qu, Chapter 1: Unit 1- Georgia License Law (Quiz), Fundamentals of Financial Management, Concise Edition, Case Problem Analysis 20.1: Identifying the F. 174. By law, which must the broker disclose to a prospective buyer? 1. Which of the following is a requirement that the salesperson must comply with when advertising on the internet? Based on these facts, which of the following is true? 3. Written consent to act as a dual agent must include a statement of the terms of compensation (606.4). 4. One of the broker's duties is to collect rent due from the tenants. The commission does not arbitrate such disputes. If the broker's license is suspended or revoked, licenses of the associate brokers and salespersons are terminated. 64. 39. Study with Quizlet and memorize flashcards containing terms like Moral principles that govern a person's or group's behavior, Official permission to do a particular thing that the law does not allow everyone to do. The Statute of Frauds in Pennsylvania applies to leases for more than three years' duration. Students also viewed. 2 citizen members, residents, not a broker, appointed to represent the public. During the first year of tenancy, the maximum is an amount equal to two months' rent. 66. All of the following statements regarding the Pennsylvania Real Estate Commission are true EXCEPT. 41. Builder-owner salespersons (551), rental listing referral agents (561), and cemetery brokers (531) are all required to pass a written exam prior to licensure. Advertisements regarding prizes must state the pre-requisites for receiving the prize or gift (35.306 (a)(2)). "If money is expected to be held in escrow for more than 6 months, the broker is encouraged to deposit the money into an interest bearing escrow account. 26. c) The person is a not a member of the Real Estate Commission. The education requirement for a salesperson is completion of 60 hours of real estate instruction in areas of study prescribed by the commission (521). So long as the owner retains the authority to make decisions, the employee may show apartments and provide information on rentals. 3. The broker's commission is not an issue in an agreement of sale between a buyer and seller. 2. A licensee who sells or leases his or her own real estate must disclose this licensure in advertisements for the property. 69. Language addressing the seller's responsibility for defects, zoning classification of single family property, and mortgage financing language are not mandatory inclusions (35.333). 4. 102. The business name as designated on the license must be included in all advertising (35.305). 77. Upcoming Clemency Hearings. Under Pennsylvania law, the salesperson may. 82. Please upgrade to Cram Premium to create hundreds of folders! Statements of estimated costs and returns must. The salesperson's failure to provide the Consumer Notice at the initial interview is a violation of the license law (604(a)(15.1)). 133. When must a licensee provide statements of estimated costs to parties involved in a purchase of real estate? The unlicensed individual. 87. 12 members. Find out how you can intelligently organize your Flashcards. Mandatory requirements and disclosures are addressed in the law (608.2 (1)), requirements regarding estimates of cost and return are addressed in (35.334), and records must be maintained for 3 years (604 (a)(6)). 179. The Real Estate Commission consists of This type of project requires a great deal of experience 166. Certain topics must be included in exclusive listing agreements or the licensee may face disciplinary action. 164. #1. 137. 15. Three weeks before N begins his real estate prelicense class, he offers to help his neighbor sell her house. 4. Should Juveniles Be Prosecuted As Adults? The Commission's disciplinary authority includes. This requirement does not apply if the property is listed for sale with a real estate company (35.304). A commercial listing must state that money received by the broker will be held by the broker in escrow pending consummation or termination of the transaction (35.331). 3. Campground membership salesperson and cemetery salesperson applicants have no examination requirement. If a dispute arises, the broker retains the escrow until the dispute is resolved (35.327). Getting the books module 8 everfi quiz answers now is not type of challenging means. The listing must state the broker's fees, be in writing, and signed by the seller who must receive a copy of the listing after signing it. It is possible to hold active licenses in more than one state simultaneously, and residency is not a requirement for licensure (35.223(b)). Introduction to Modern Real Estate Practice. Call: 1 669 254 5252 or +1 669 216 1590 . Which of the following duties is not included under the authority of the Pennsylvania Real Estate Commission? A recorded stipulation against liens, a release of liens document, and mechanic's lien insurance can all be used as a means of protecting the property against claims of subcontractors of suppliers. Real estate licensees are not permitted to practice law unless they are licensed attorneys at law. The term "broker" includes in its definition all of the following activities EXCEPT. 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A foreign corporation that owns a building in Pennsylvania decides to sell without listing it for sale. 189. A licensee is expected to exercise reasonable professional skill and care when dealing with the public and to deal honestly and in good faith (606.1 (a)). 35. Investigations may be initiated by the Pennsylvania Real Estate Commission in each of the following circumstances except: upon a written complaint regarding state testing services procedures. D) Mandatory provisions of exclusive listing contracts are established by real estate commission regulation (35.332). Monies are paid into the Real Estate Recovery Fund by which of the following means: Every Licensee pays $10 into the fund at the time of initial license application. The building owner and the broker agree that the building air conditioning system needs to be replaced, and the broker is authorized to contract for the work to be done. The salesperson wants to pay the assistant a percentage of the commission, "because the assistant has really earned it." 2. Brokers must maintain records of transactions for three years following consummation of the transaction. The members are not selected by REALTORS or elected by the public or real estate licensees. . What are the symptoms of anorexia nervosa? When licensees change employing brokers, they are required to notify the commission in writing no later than 10 days after the intended date of change, pay the required fee, and return their current license. (The Commission will not intervene in issues that result from disputes involving real estate sales commissions or broker cooperation.). As the agent for the woman's estate, what are your disclosure responsibilities to prospective purchasers of unit 5B in this situation? Construct a boxplot and describe its shape. The first offense is a summary offense punishable by a fine not exceeding $500, imprisonment not exceeding three months, or both (303). 163. Which of the following candidates for licensure is required to take the standard real estate salesperson's license examination and score a passing grade but is not required to complete any mandatory education requirement prior to taking the exam? A personal assistant working under the direct instructions and supervision of a licensee must be licensed if he or she performs which of the following tasks and duties? All of the following will provide protection against the possibility of mechanic's liens being filed against property by subcontractors EXCEPT. 1. In the case of a corporation or partnership, this exclusion shall not extend to more than five of its partners or officers (304 (1)). 191. Statements of cost and return must be presented prior to entering into an agreement of sale. 135. Real estate licensees are not authorized to engage in appraisal activities. 3. While representing a seller under a listing contract, the broker learned confidential information about the seller's urgency to sell and minimum acceptable selling price. 79. 27. No such license will be reinstated until the licensee has repaid the money in full plus interest at the rate of 10% per year (803(f)). The real estate commission policy regarding internet advertising requires that the broker' s name as it appears on the license must be included on each page of the site on which the firm's advertisement occurs. 61. Is this permitted? 3. The broker must maintain the earnest money deposit until the transaction is consummated or terminated. There is no requirement that the money MUST be repaid, it must be repaid in order to reinstate a license. D) 2. Conviction for a felony offense does not preclude the applicant from being issued a license. Violations of the license law include placing a "For Sale" sign without written consent of the seller, failing to specify a definite termination date, and failing to exercise adequate supervision of a licensee's activities (604(a)(8)). A broker who maintains multiple branch offices wants to give an associate broker managing a branch office authority to directly hire salespersons or other associate brokers. Opinions regarding condition of title to the property being sold could constitute the practice of law and should be avoided. 94. 68. 4. Which of the following is a minimum requirement for a firm to receive a license? While the change of employment forms are being processed by the commission, the associate broker may. They are not authorized to show rental units, collect fees or security deposits, or engage in property management activities. The salesperson's employing broker was unaware of all of these activities. Performed service for Green Pro, receiving a 90-day, 6% note for$6,000. 3. 139. In Pennsylvania, this clause is. and more. However, a tax will have to be paid on a transfer. failing to pay child support 164. A buyer contacts a real estate office and indicates an interest in purchasing a home in the area. Commission rules provide that if the broker receives money belonging to another under an installment land purchase agreement, the transaction will be considered consummated when the buyer has been afforded the opportunity to record the agreement, unless the contract provides otherwise. The broker may not require notification to terminate the listing. 9. A broker is required to advertise under the business name designated on the license (35.305). Which of the following statements is true regarding the corporate officer handling the sale of real estate owned by the corporation? 4. B) administering/enforcing the provisions of the Indiana real estate codes. 6. The Life Of A Birmingham Jail By Martin Luther King Jr. An airline pilot told a broker about some friends who were looking for a new home. Yes, but it is not really necessary because federal law already protects them. What fines may be imposed by the Commission for rules violations? 42. The broker has not operated in a manner consistent with the best interest of his client. 2. A real estate firm may operate and/or advertise under a name other than the one under which the license is issued with the written consent of the Director of the Department of Licensing. 2. 30. 36. The rules do provide that the office must have a separate entrance, that the business name be displayed, and that the office allow for business to be conducted privately (35.342). What is the impact on the employing broker's license when the salesperson's violations are brought to the attention of the Pennsylvania Real Estate Commission? 178. Which of the following is true? The assistant's extra work included making several phone calls to the prospective buyers, encouraging them to accept the seller's counteroffer. T or F A broker is found guilty of fraud or misrepresentation and ordered to pay monetary damages to a consumer. 201.
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