Pennsylvania Property Agent Exam

Housing for Older Persons Act (HOPA) {Ans: Two types of housing can be restricted: if all units are occupied by persons of 62 and older or if 80% of the units are occupied by at least one person 55+}Sherman Antitrust laws {Ans: prohibits contracts or conspiracies that create monoploies}Brokerage {Ans: business of bringing parties together}Broker of record is responsible for.. {Ans: all activities performed by an affiliated licensees}must need (blank) to advertise a property in print or online {Ans: written authority of owner/seller}How much capital gain need to be taxable for single persons, married couple {Ans: 250k, 500k}How many days must an app for credit be accepted/rejected {Ans: within 30 days of completion; if denied, creditor must provide the specific reason for rejection}when is a broker entitled to commission {Ans: when seller accepts an offer from a ready,willing, able buyer}FHA 1974 {Ans: added sex}Sales comparison approach {Ans: estimate of value is obtained by comparing the subject property w recently sold comparable properties}