Pennsylvania Real Estate Law (Unit 7 quiz) Exam Questions and Answers Latest Update
4 views 0 purchase
Course
Pennsylvania Real Estate
Institution
Pennsylvania Real Estate
XTRLARGE Realty is very proud of its sales staff. They send out a press release that says that the staff is the best in the area and that the firm holds the largest market share in the entire area. What, if anything, is illegal about this ad?
a. Nothing is legally wrong, as anyone can claim to b...
Pennsylvania Real Estate Law (Unit 7 quiz) Exam Questions and Answers Latest Update
XTRLARGE Realty is very proud of its sales staff. They send out a press release that says that the staff is the best in the area and that the firm holds the largest market share
in the entire area. What, if anything, is illegal about this ad?
a. Nothing is legally wrong, as anyone can claim to be the best.
b. Nothing is legally wrong, though the release contains exaggerations.
c. The ad will be considered deceptive advertisement by the Commission, since it does not define the market area.
d. The ad is illegal to make the claim of largest market share. - Answer-c. The ad will be
considered deceptive advertisement by the Commission, since it does not define the market area.
Susan, a salesperson, placed the following ad in yesterday's paper: "Susan White of XYZ Realty has ten new listings to show you. Call Susan at 123-4567." Is this advertising acceptable?
a. Yes. Susan is allowed to advertise using the company name and Susan's phone number as the contact number.
b. No. The business name and telephone number of the brokerage must be included.
c. No. Salespersons are not allowed to advertise property.
d. No. The broker should limit the number of listings advertised to avoid unfair advertising. - Answer-b. No. The business name and telephone number of the brokerage must be included.
A licensee who sells or leases his own property must disclose that he is a real estate licensee in advertisements for the property. However, this does not apply IF
a. the licensee is a broker of record.
b. the property is owned with non-licensees.
c. the property is listed with a real estate company.
d. the owner only owns one piece of property. - Answer-c. the property is listed with a real estate company.
When a brokerage advertises its "Sales Volume," it is allowed to count
a. transactions by reference.
b. transactions in escrow.
c. closed transactions only.
d. transactions that are pending closure. - Answer-c. closed transactions only. A licensee who sells or leases his own property_______ disclose that he is a real estate
licensee in advertisements for the property.
a. is not required to
b. may optionally
c. must
d. cannot legally - Answer-c. must
A licensed firm advertising on the internet must include which of the following information on each page?
a. The licensee's name
b. The Commission's Notice of Approval for Internet Advertising (NAIA)
c. The company's name as registered with the Real Estate Commission
d. The posted regulatory jurisdiction of the licensee - Answer-c. The company's name as registered with the Real Estate Commission
A licensee who by personal contact, telephone, mail or advertising attempts to sell or dispose of real estate with such frequency as to interfere with the owner or other person
who controls the sale or disposition of the property may be guilty of
a. harassment
b. commingling
c. breach of seisin
d. consensual misconduct - Answer-a. harassment
Academy of Real Estate is a real estate education provider. Can it be owned and operated by ABC Realty?
a. Yes, if the Commission approved the application and received the appropriate fees
b. Yes, if the provider and the brokerage company make the relationship clear on all promotions, endorsements and advertisements
c. No, because a brokerage company is never allowed to own a real estate education provider
d. No, because a real estate education provider must be owned by a broker of record - Answer-b. Yes, if the provider and the brokerage company make the relationship clear on all promotions, endorsements and advertisements
The statement by a licensee to a seller that "someone is moving in, and you had better get out before your house value drops", is an example of which of the following illegal activities?
a. profile peddling
b. block commingling c. panic peddling
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller lectknancy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
