State Portion Practice Exam For Pa Real Estate Salesperson

What should be provided to the client at first substantive contact? {Ans: PA Consumer Notice}What does the State Real Estate Commission function under? {Ans: The Bureau of Professional and Occupational Affairs, which is part of the Pennsylvania Department of State}What happens if the Recovery Fund drops below the minimum it can be? {Ans: The Commission is able to levy a $10 assessment fee on all license holders until the fund reaches $500,000}How many days does broker's attorney have to notify the Commission of a temporary broker due to illness of broker? {Ans: Within 15 days}When will the Commission send you a reminder to renew your license? {Ans: 90 days before your license expires}Fees for Broker License {Ans: $75 application fee $94.50 registration fee TOTAL: $169.50}What happens if a licensee is found guilty of a violation of RELRA? {Ans: The Commission can suspend/revoke their license Have them pay a fine up to $1,000 Both of the above options}How long is each term one must serve being part of the Commission? {Ans: 5 years}How long does a purchaser of a campground membership or timeshare have to cancel? {Ans: Midnight of the 5th day}First