Pa Realtor Agent Exam (State Portion) Questions And Answers

ASSOCIATE BROKER {Ans: A broker employed by another broker.}BUYER AGENT {Ans: Any licensee who has entered into an agency relationship with a consumer buyer of real estate.}COMMERCIAL PROPERTY {Ans: (1) Any property, or portion thereof, which is used, occupied or is intended, arranged or designed to be used or occupied for the purpose of operating a business, an office, a manufacturing facility or any public accommodation. This paragraph does not include property which consists of less then five residential dwelling units. (2) Any vacant land offered for sale or lease, or held, for the purpose of constructing or locating thereon a building, structure or facility, or portion thereof, which is intended, arranged or designed to be used or occupied for the purpose of operating a business, an office, a manufacturing facility or any public accommodation. This paragraph does not include vacant land suitable only for construction or location of less than five residential dwelling units.}DISCLOSURE {Ans: Provision of all relevant facts, without reservation, ambiguity or distortion so as to enable a consumer to understand the options and weigh the risks and benefits in order to make a decision in his or her own best interest.}SELLER AGENT