A salesperson owns a residence and wishes to sell it without listing it. Under Pennsylvania license law, the salesperson MUST:

• A.list the property with their firm
• B.disclose in all advertising that the owner of the property is a real estate licensee
• C.offer a sales commission or fee to cooperating brokers
• D.have an active license

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If known, the listing broker MUST disclose which of the following to a prospective buyer?

• A.That the seller's mortgage is assumable
• B.That the seller has accepted a position in another state
• C.That the seller has filed for divorce
• D.That the seller's water system is contaminated

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If a salesperson representing a buyer gets information from the seller's agent as to the status of the real estate transaction, what is the buyer's agent REQUIRED to do?

• A.Advise the seller as to the status of the transaction.
• B.Advise the buyer as to the status of the transaction.
• C.Advise the listing broker as to the status of the transaction.
• D.Advise the loan officer as to the status of the transaction.

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What MAXIMUM length of time may a salesperson's real estate license be inactive before reactivation ceases to be possible without retaking and passing the licensing examination?

• A.2 years
• B.3 years
• C.4 years
• D.5 years

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A salesperson has just obtained the seller's signature on an offer to purchase. When MUST the buyer receive a copy?

• A.Within 24 hours of the offer's acceptance
• B.Within 1 business day of the offer's acceptance
• C.At the closing
• D.In a reasonably practicable period of time

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