PRES Pennsylvania Real Estate Salesperson Examination - Set 3 - Part 3

Test your knowledge of technical writing concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.

Question 41: Under Pennsylvania law, when must a licensee provide the Consumer Notice explaining the available agency relationships?

At the initial interview

At the closing table

After an offer is accepted

Only if the consumer asks

Question 42: The Pennsylvania Consumer Notice prominently states a key fact about its own legal effect. What does it declare itself to be?

A binding listing agreement

Not a contract

An offer to purchase

A dual-agency consent

Question 43: In Pennsylvania, even a transaction licensee who represents no one still owes certain duties to every consumer. Which duty is among them?

Loyalty to the buyer

Confidentiality of the seller's price

Disclosure of known material defects

Advancing one party's interests

Question 44: A buyer's agent in Pennsylvania is paid out of the transaction proceeds rather than directly by the buyer. Does the source of payment determine whom the agent represents?

Yes, payment fixes representation

Yes, the payer is always the client

Only in dual-agency deals

No, the agreement sets representation

Question 45: A Pennsylvania salesperson closes a deal and wants to collect part of the fee. From whom may the salesperson lawfully accept that compensation?

From the employing broker

Directly from the buyer

From the cooperating firm

From the seller in cash

Question 46: A sixteen-year-old signs a contract to buy a condominium. What is the legal effect of that agreement?

It is void

It is voidable by the minor

It is fully binding on the minor

It is unenforceable by the seller only

Question 47: A licensee acts like an agent and a consumer reasonably relies on that representation, even without a written agreement. What kind of agency may arise?

Express agency

Universal agency

Implied agency

A net listing

Question 48: A seller lists property as is to avoid paying for repairs. Does the as-is clause remove the duty to disclose known material defects?

Yes, as is waives all disclosure

Yes, the buyer assumes all risk

Only latent defects are waived

No, known defects must still be disclosed

Question 49: A tenant pays consideration for a six-month right to buy a building at a set price, then exercises it within the period. Must the owner sell?

Yes, the owner is bound to sell

No, the owner may refuse

Only if a new price is agreed

Only with the broker's approval

Question 50: A latent defect is a serious problem hidden behind drywall that a reasonable inspection would not reveal. How does the duty to disclose treat such a defect?

It need not be disclosed

It must be disclosed

It is the buyer's responsibility to find

It is disclosed only on request

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