303NC POST LICENSING EXAM UPDATED 2024 WITH VERIFIED QUESTIONS AND DETAILED ANSWERS (GRADED A+)

303NC POST LICENSING EXAM UPDATED
2024 WITH VERIFIED QUESTIONS AND
DETAILED ANSWERS (GRADED A+)
If a Pennsylvania licensee turns in a current license when moving
to a new employer, what enables the licensee to continue
practicing real estate until the new license arrives?
A copy of the notification that was sent to the commission serves
as the licensee's temporary license.
The licensee should hang on to the existing license until the new
one is issued.
The licensee should make a copy of the existing license to display
before submitting it to the commission.
The licensee should print a temporary license from the
commission's website. - ANSWER-A-A copy of the notification that
was sent to the commission serves as the licensee's temporary
license.
Wally is a Pennsylvania licensee. He's planning to purchase a
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house with several acres of land from seller Seth. Based on Wally's
expertise, he believes the property is being underutilized and plans
to divide the land into several separate lots to sell off individually.
What does Wally need to disclose to Seth? - ANSWER-Wally must
disclose his true intention related to the property.Licensees must
disclose in writing their true intention regarding a property if they
have an interest in the property, and any conflicts
of interest they may have. Licensees must disclose their license
status when selling their own property.
A Pennsylvania licensee was found guilty of defrauding several of
his real estate clients. A court issued final judgments ranging from
$1,000 to $30,000 dollars for each victim, for a total of $150,000. If
the victims seek recovery from the Real Estate Recovery Fund,
what's the most that will be paid out? - ANSWER-$100,000
Which of the following facts would disqualify Tina from obtaining a
timeshare salesperson's license in Pennsylvania? - ANSWERShe's completed 15 days of on-site training.Qualifications for a
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timeshare salesperson's license include: 18+ years of age,
completion of 30 hours of approved coursework, and 30 days of
on-site training.
Summer is a real estate salesperson in Pennsylvania who works
for ABC Brokerage. The main office is in Philadelphia, but Summer
works out of the King of Prussia branch office. Which of these
statements is correct? - ANSWER-Summer's license will be
maintained at the Philadelphia office, and the King of Prussia office
will include Summer's name on the list of licensees working out of
that office.The broker's current license and any affiliated licensees'
licenses must be maintained at the main office.
Brokers must keep a list of all licensees at the branch office where
they work.
To legally perform real estate activities in Pennsylvania, you must
have a real estate license, pass the written exam, keep your
license current by completing continuing education courses, and .
Be an employee of a Pennsylvania-based brokerage firm
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Become a member of the Pennsylvania Association of Realtors®
(PAR)
Follow the standards of conduct
Join the National Association of Realtors® (NAR) - ANSWER-CFollow the standards of conduct.To legally perform real estate
activities in Pennsylvania, you must have a real estate license,
pass the written exam, keep your license current by completing
continuing education courses, and follow the standards of conduct