Real Estate Salesperson Exam Law And Business Exam 2024 With 100% Correct Answers

ABC Remodeling, Inc. buys a new warehouse for its trucks and excess building materials. How will it take title? {Ans: tenancy in severalty}A seller has listed his property for $350,000, indicating he wishes to sell as quickly as possible. The seller's broker encourages a prospective buyer to place a low offer, as the seller wishes to sell the property quickly. The buyer offers $310,000, which is accepted by the seller. In this situation, the broker: {Ans: breached the agency relationship with the seller}Assemblage {Ans: the joining of several parcels of land}The rule that says a buyer is expected to reasonably inspect the property, instead of relying on what she was told, is the Doctrine of {Ans: Caveat Emptor}According to Pennsylvania License Law, a salesperson may be employed by: {Ans: The broker designated on the salesperson's current license}License Law {Ans: A real estate license is required to perform a broker price opinion for another for a fee. An auctioneer, investor, or attorney-at-law would be exempt from obtaining a real estate license, per Pennsylvania licensing law.}What document is evidence of the relationship between property owner and property manager? {Ans: Property management agreement}Roberta wishes to build