Pa real estate 1 - Study guides, Class notes & Summaries

90 days if it is an initial complaint against the licensee. If the real estate commission receives a copy of a complaint files with the PA Human Relations Commission alleging that a licensee has violated a provision of the PA Human Relations Act, what is the waiting period before the real estate commission may proceed with its own disciplinary action against the licensee? the associate broker must notify the Commission no later than 10 days after the intended date of change, pay the...

How many people are on the Commission? correct answers Eleven How do people get on the Commission? correct answers Chosen by the governor for staggered five-year terms Are people elected or appointed? correct answers Appointed by governor What does the Commission need to do business? correct answers A Quorum (MAJORITY) of at least six people Where does the Commission meet? correct answers Harrisburg, Philly, Pittsburgh Specific powers and duties of Commission: correct answers 1. I...

PSI Real Estate Practice Exam - Michigan (Chapter 1)Designated Agent - correct answer A person authorized by the broker to act as the agent of a specific principal - common in dual agency relationships, two salespersons from the same company can represent opposite sides of the sale. Income Approach - correct answer What approach does an appraiser take primarily for an investment property? 1.) "Personal Assistant" (Answer) 2.) "Agent-Assistant" 3.) "Proxy-Agent" 4.) "Broker-Assign...

ARELLO - Answer-Association of Real Estate License Law Officials - Uniform policies and standards for administering and enforcing state license laws are promoted by them License Laws - Answer-are to regulate the real estate industry. Their main objective is to ensure that the rights of purchasers, sellers, tenants and landlords are protected from unscrupulous or sloppy practices. Laws can make the marketplace more honest. PA's first real estate license law was adopted - Answer-May 1 1929 ...

PA Real Estate State Portion Questions and Answers 100% Pass Real Estate Commission has how many members 11 Who are the members of the Comission (1) Commissioner of Professional and Occupational Affairs (1) Director of Bureau of Consumer Protection (5) Brokers of 10+ yrs experience (3) Public at Large Members (1) Broker 5+ years selling cemetery for at least 10+ years How long are terms for Commission members 5 years, MAX 5.5 years If Commission member dies how long does successor with same q...

PA Real Estate Salesperson Exam - State Portion Exam Prep Latest 2023 Graded A AGENCY RELATIONSHIP A relationship whereby the broker or licensees in the employ of the broker act as fiduciaries for a consumer of real estate services by the express authority of the consumer of real estate services. ASSOCIATE BROKER A broker employed by another broker. BROKER Any person who, for another and for a fee, commission or other valuable consideration: (1) negotiates with or aids any person in locating ...