Name: Homework 2

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Instructions:  

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Question 1   Multiple Answer (1.0000 points)
  Question: In Pennsylvania, which of the following real estate business activities would require a real estate sales or broker's license unless the activity met the exemption criteria?
(Check all that apply)

 
    selling
listing
leasing
appraisal
property management
 

 
Question 2   Multiple Answer (1.0000 points)
  Question: Which of the following are Pennsylvania exemptions from licensure requirements for regulated real estate brokerage activities?
(Check all that apply)

 
    selling acreage owned by you
employee selling company-owned coal rights
managing your own apartment building
. power company employee selling dock privileges along the Clarion River power lake
an attorney listing your house for sale
 

 
Question 3   Multiple Choice (1.0000 points)
  Question: A broker of record :
 
    is employed by another broker.
is the officer in charge of a corporate, partnership, or sole proprietorship real estate agency.
is a broker who is only permitted to sell dwelling units for a builder-owner.
none of the above
 

 
Question 4   Multiple Choice (1.0000 points)
  Question: A broker's office must, by law, prominently display which of the following?
 
    the broker's license
licenses of salespeople working on behalf of the broker
licenses of associate brokers working on behalf of the broker
all of the above
 

 
Question 5   Multiple Choice (1.0000 points)
  Question: A recovery fund
 
    is used to pay the seller when a buyer defaults on a contract.
is used to pay brokers when sellers refuse to pay a commission due.
is used to reimburse the seller when a property sells for substantially less than its listed price.
is used to pay judgments against licensees
is used to pay buyers for the damage caused to the property by sellers before the buyers occupy the property.