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Pennsylvania Real Estate Commission — Printable Practice Pack
Pennsylvania state portion · RELRA, the Consumer Notice and the Real Estate Recovery Fund · 20 questions · Answer key on the last page · agentexamcoach.com
1.Who is eligible to receive reimbursement from the Real Estate Recovery Fund?
(A)A consumer with an unsatisfied court judgment against a licensee for fraud or misrepresentation
(B)A licensee who has been fined by the Commission
(C)A broker who has suffered a loss due to a licensee's negligence
(D)A seller who has been sued by a buyer for breach of contract
2.A consumer has a court judgment against a real estate licensee for fraud, but the judgment remains unsatisfied. What may the consumer apply for to receive reimbursement?
(A)A loan from the state
(B)A grant from a non-profit organization
(C)A tax credit
(D)The Real Estate Recovery Fund
3.What is the primary purpose of the Real Estate Recovery Fund?
(A)To reimburse consumers for ordinary contract disputes
(B)To provide training for real estate licensees
(C)To promote the real estate industry in Pennsylvania
(D)To reimburse consumers who have unsatisfied court judgments against licensees for fraud or misrepresentation
4.How often must a real estate salesperson's license be renewed in Pennsylvania?
(A)Annually
(B)Every 10 years
(C)Every 5 years
(D)Biennially
5.What type of complaints does the PA State Real Estate Commission investigate?
(A)Complaints about property values
(B)Complaints about government policies
(C)Complaints about market trends
(D)Complaints about licensee conduct
6.What happens to a licensee's license if they receive payment from the Real Estate Recovery Fund?
(A)It is revoked permanently
(B)It is renewed automatically
(C)It is placed on probation
(D)It is suspended until the payment is repaid with interest
7.What is the role of the Bureau of Professional and Occupational Affairs in relation to the Pennsylvania State Real Estate Commission?
(A)It provides education to licensees
(B)It investigates complaints against licensees
(C)It sets real estate prices
(D)It is the department under which the Commission is located
8.The Pennsylvania State Real Estate Commission has the authority to
(A)Make rules and regulations governing the practice of real estate
(B)Set the fees for real estate services
(C)Conduct Background checks on real estate licensees
(D)All of the above
9.What is the first step in the process of handling a complaint against a real estate licensee?
(A)Investigation
(B)Hearing
(C)Mediation
(D)Filing a complaint with the Commission
10.What is the role of the PA State Real Estate Commission in regulating real estate licensees?
(A)To make laws governing real estate transactions
(B)To promote the real estate industry
(C)To provide education and training to real estate licensees
(D)To enforce laws and regulations governing real estate transactions
11.What is the rulemaking power of the Pennsylvania State Real Estate Commission?
(A)It can make rules that contradict state law
(B)It can make rules that apply to all businesses
(C)It has no rulemaking power
(D)It can make rules that are consistent with state law
12.A real estate licensee has been found to have committed fraud in a transaction and a consumer has obtained an unsatisfied court judgment against them. What will happen to the licensee's license?
(A)It will be suspended until the judgment is repaid
(B)It will be revoked permanently
(C)It will be placed on probation
(D)It will not be affected
13.A real estate salesperson has a complaint filed against them with the Pennsylvania State Real Estate Commission. What is the next step in the process?
(A)The salesperson's license is immediately revoked
(B)The salesperson is required to take a continuing education course
(C)The salesperson is fined
(D)The commission conducts an investigation
14.What is the result if a real estate licensee is found to have committed fraud, misrepresentation, or deceit in a transaction and the Real Estate Recovery Fund pays the resulting court judgment?
(A)The licensee's license is suspended until the payment is repaid with interest
(B)The licensee's license is automatically revoked
(C)The licensee's broker is also liable
(D)The consumer must refund the payment to the Fund
15.A consumer obtains a court judgment against a real estate licensee for fraud, but the judgment remains unsatisfied. What may the consumer do next?
(A)File a complaint with the Pennsylvania State Real Estate Commission
(B)Negotiate a settlement with the licensee
(C)Appeal the court's judgment
(D)Apply to the Real Estate Recovery Fund for reimbursement
16.What is the result of a finding of misconduct by the Pennsylvania State Real Estate Commission?
(A)The Commission may impose disciplinary action, including suspension or revocation of the license
(B)The licensee's license is automatically revoked
(C)The licensee is automatically reimbursed by the Real Estate Recovery Fund
(D)The complaint is dismissed
17.What is the purpose of the disciplinary process for real estate licensees in Pennsylvania?
(A)To punish licensees for minor infractions
(B)To reduce the number of real estate transactions
(C)To increase the number of real estate licensees
(D)To protect the public interest in real estate transactions
18.What is the purpose of the PA State Real Estate Commission's rulemaking powers?
(A)To protect the public by regulating the real estate industry
(B)To promote the interests of real estate licensees
(C)To generate revenue for the state
(D)To oversee the construction of new buildings
19.A complaint is filed against a real estate licensee with the Pennsylvania State Real Estate Commission. What is the next step in the process?
(A)The complaint is automatically forwarded to the court system
(B)The complaint is sent to the licensee's broker for resolution
(C)The complaint is dismissed without review
(D)The complaint is investigated by the Commission
20.How often must a real estate salesperson in Pennsylvania renew their license?
(A)Annually
(B)Every 10 years
(C)Every 5 years
(D)Biennially
Answer key & explanations
1. A — The Real Estate Recovery Fund reimburses a consumer who has an unsatisfied court judgment against a licensee for fraud, misrepresentation, or deceit in a real estate transaction.
2. D — The Real Estate Recovery Fund reimburses consumers who have unsatisfied court judgments against real estate licensees for fraud, misrepresentation, or deceit in a transaction.
3. D — The Fund's main purpose is to reimburse consumers who have unsatisfied court judgments against licensees for fraud, misrepresentation, or deceit in a real estate transaction.
4. D — Real estate salesperson licenses in Pennsylvania must be renewed every 2 years.
5. D — The PA State Real Estate Commission investigates complaints about licensee conduct, including allegations of fraud, misrepresentation, and deceit.
6. D — If a licensee receives payment from the Real Estate Recovery Fund, their license is automatically suspended until the payment is repaid with interest.
7. D — The Pennsylvania State Real Estate Commission is located within the Department of State, specifically under the Bureau of Professional and Occupational Affairs, which oversees the Commission's activities.
8. A — The Pennsylvania State Real Estate Commission has the authority to make rules and regulations governing the practice of real estate, which includes setting standards for licensure, education, and professional conduct.
9. D — The first step in the process of handling a complaint against a real estate licensee is filing a complaint with the Pennsylvania State Real Estate Commission.
10. D — The PA State Real Estate Commission enforces laws and regulations governing real estate transactions, including investigating complaints and taking disciplinary action.
11. D — The Pennsylvania State Real Estate Commission has the power to make rules that are consistent with state law.
12. A — If a real estate licensee is found to have committed fraud in a transaction and a consumer obtains an unsatisfied court judgment against them, the licensee's license will be suspended until the judgment is repaid.
13. D — If a complaint is filed against a real estate salesperson, the Pennsylvania State Real Estate Commission will conduct an investigation to determine if there is sufficient evidence to support the complaint.
14. A — If the Real Estate Recovery Fund pays a court judgment against a real estate licensee for fraud, misrepresentation, or deceit in a transaction, the licensee's license is automatically suspended until the payment is repaid with interest.
15. D — The consumer can apply to the Real Estate Recovery Fund for reimbursement of the unsatisfied judgment.
16. A — If the Pennsylvania State Real Estate Commission finds misconduct, the Commission may impose disciplinary action, including suspension or revocation of the license.
17. D — The purpose of the disciplinary process for real estate licensees in Pennsylvania is to protect the public interest in real estate transactions.
18. A — The PA State Real Estate Commission's rulemaking powers are used to create regulations that safeguard the public interest in real estate transactions and ensure that licensees operate honestly and competently.
19. D — When a complaint is filed against a real estate licensee, the Pennsylvania State Real Estate Commission investigates the complaint to determine if there is sufficient evidence to support disciplinary action.
20. D — In Pennsylvania, real estate salesperson licenses must be renewed biennially.
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