What MUST a salesperson licensee convicted of a felony do?
Answer(s): C
According to 49 Pa. Code § 35.288 under "Reporting of Crimes and Disciplinary Actions", all licensees in Pennsylvania are required to notify the Pennsylvania Real Estate Commission in writing within 30 days of any felony or misdemeanor conviction.A licensee does not automatically lose their license upon conviction, but the Commission will review the case and may take disciplinary action such as suspension or revocation of the license.Failing to report the conviction within the required time may result in additional penalties.Immediate license surrender (Option A) is not required.Discussing with the broker (Option B) is not a sufficient step since the official duty is to inform the Commission.Terminating all activities (Option D) is not an automatic requirement unless the Commission suspends or revokes the license.
49 Pa. Code § 35.288 Reporting of Crimes and Disciplinary ActionsReal Estate Licensing and Registration Act (RELRA) 63 P.S. § 455.303 (Criminal Background)
If a salesperson representing a buyer gets information from the seller's agent as to the status of the real estate transaction, what is the buyer's agent REQUIRED to do?
Answer(s): B
Under 49 Pa. Code § 35.284 (Disclosures of Business Relationships), a buyer's agent has a fiduciary duty to their client. This means the agent must act in the buyer's best interest and communicate all material information regarding the transaction to the buyer.The buyer's agent's primary responsibility is to the buyer (Option B - Correct).The buyer's agent does not have any fiduciary duty to the seller (Option A - Incorrect).The buyer's agent is not required to inform the listing broker (Option C - Incorrect).The loan officer does not have the same level of involvement in fiduciary duties as the buyer (Option D - Incorrect).
49 Pa. Code § 35.284 Disclosure of Business Relationships
Why is the following advertisement placed by a salesperson employed by ABC Realty, in violation of Pennsylvania Rules?"Harrisburg $200,000 SUPER BUY Cozy 3br, 2 1/2 bath Cottage, near bus. For info call 555-9234 (home) or 675-6330 (office). Ask for JOHN DOE."
According to 49 Pa. Code § 35.305 (Business Name on Advertisements), all advertisements placed by a salesperson must include the broker's name.The broker's name is missing, which violates Pennsylvania advertising requirements (Option C - Correct).The property address does not need to be in the ad (Option A - Incorrect).Salesperson names are allowed but must be accompanied by the broker's name (Option B - Incorrect).MLS numbers are not a requirement in all advertisements (Option D - Incorrect).
49 Pa. Code § 35.305 Business Name on Advertisements
A real estate licensee may be disciplined by the Pennsylvania Real Estate Commission for which of the following reasons?
Under 49 Pa. Code § 35.291 (Reporting of Crimes and Disciplinary Actions), a real estate licensee may face disciplinary action for engaging in unethical conduct, fraud, or incompetence. One of the reasons listed is habitual intoxication or drug addiction, as this impairs the licensee's ability to properly conduct real estate activities.A felony conviction (Option D - Incorrect) does not automatically result in discipline but is reviewed by the Commission.Failure to pay taxes (Option C - Incorrect) is a federal issue, not a licensing violation.Car insurance (Option A - Incorrect) is unrelated to a real estate license.
49 Pa. Code § 35.291 Reporting of Crimes and Disciplinary Actions
An owner sells a house through a salesperson who works as an independent contractor for a broker. Before the closing, the owner fires the broker. However, the owner agrees to pay the salesperson a $1,000 fee for services. Which of the following is TRUE?
Answer(s): A
According to 49 Pa. Code § 35.283 (Compensation and Commission), a salesperson may not accept compensation from anyone other than their employing broker.A salesperson cannot accept direct payments from an owner or buyer (Option A - Correct).The owner cannot cancel the sales contract unilaterally (Option B - Incorrect).The salesperson may only be compensated through the broker, even if the owner agrees to direct payment (Option C & D - Incorrect).
49 Pa. Code § 35.283 Compensation and Commission
Post your Comments and Discuss Real Estate Licensing RePA_Sales_S exam prep with other Community members: