RePA_Sales_S Exam Dumps - PA Salesperson State Exam

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.

Under49 Pa. Code § 35.201 (Definitions), property management activities that include leasing, collecting rent, and negotiating lease terms require a real estate license unless the individual is directly employed by the property owner.

If a property manager is conducting leasing or rental activities for multiple property owners, they must be licensed and supervised by a broker.

The law ensures that individuals managing properties for others operate under proper ethical and legal guidelines.

Why the other answers are incorrect:

Option A (Certification for Property Management):No separate property management certification is required under Pennsylvania law.

Option B (Separate Exam for Property Management):A separate exam for property management is not required.

Option C (Ongoing Property Management Courses):Continuing education is required for license renewal, but specific property management courses are not mandatory.

Under49 Pa. Code § 35.291(Reporting of Crimes and Disciplinary Actions), a real estate licensee may face disciplinary action for engaging inunethical conduct, fraud, or incompetence. One of the reasons listed ishabitual intoxication or drug addiction, as thisimpairsthe licensee’s ability toproperly conduct real estate activities.

A felony conviction (Option D - Incorrect) does not automatically result in disciplinebut 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.

Under49 Pa. Code § 35.382 (Continuing Education Requirements),a Pennsylvania real estate licensee must complete at least 14 hours of continuing education (CE) during each two-year renewal cycle.

These courses must be taken through an approved real estate education provider.

Certain renewal periods may have specific course requirements mandated by the Commission.

Why the other answers are incorrect:

Option A (10 Hours):Too low; Pennsylvania law requires 14 hours.

Option B (12 Hours):Falls short of the required minimum.

Option D (16 Hours):Exceeds the required minimum.

Under49 Pa. Code § 35.241 (Supervision and Operation of Offices),a licensed real estate salesperson must be supervised by a broker or an associate broker designated by the broker.

A broker may assign an associate broker (who has passed the broker exam but does not own the brokerage) to oversee salespersons.

Salespersons cannot work independently; they must work under the direction of a licensed broker or an assigned associate broker.

Why the other answers are incorrect:

Option A (Team Leader):A team leader is not a formal supervisory position under Pennsylvania law unless they are an associate broker or broker.

Option B (Salesperson):A salesperson cannot supervise other salespersons.

Option D (Transaction Coordinator):A transaction coordinator handles paperwork but does not supervise licensees.

Under49 Pa. Code § 35.314 (Duties of Dual Agents),a dual agent represents both the buyer and seller in the same transaction and must maintain neutrality by not disclosing confidential information unless required by law.

If the salesperson has knowledge that the sellers are getting divorced, this is considered confidential information that could harm their negotiating position.

Dual agents cannot disclose confidential facts that would disadvantage either party unless both parties agree in writing.

Disclosure of confidential details in a dual agency scenario would be a violation of Pennsylvania real estate law.

Why the other answers are incorrect:

Option B (Sub-Agent of Buyer):Asub-agent of the buyer has a fiduciary duty to the buyer and may disclose information that benefits them.

Option C (Transaction Licensee):Atransaction licensee does not represent either party and may disclose non-confidential information.

Option D (Designated Buyer Agent):Adesignated agent works solely for the buyer and is free to disclose information that benefits them.

Under49 Pa. Code § 35.283 (Compensation and Commission),a salesperson can only receive payment through their employing broker. This means thatif the flat fee is paid to the broker (not directly to the salesperson), then the arrangement is legal.

Commission does not have to be paid at closing; payment terms can be negotiated, including split payments.

For Sale by Owner (FSBO) properties are not required to be listed with a brokerage, so compensation can still be earned if a licensee brings a buyer.

Why the other answers are incorrect:

Option B (Commission Rate Limitations):There areno “prevailing” commission ratessince commissions are always negotiable.

Option C (Compensation Must Be at Closing):Commission can bestructured differently(e.g., partial upfront payment).

Option D (Only Listed Properties Qualify for Commission):Agents can earn commission on FSBOsas long as the broker is involved.