Pennsylvania Real Estate Broker Exam — All Questions

Under RELRA, a Pennsylvania broker must maintain the brokerage's escrow (trust) funds by:

• a.Keeping them in the broker's personal savings account
• b.Holding them in cash at the office
• c.Loaning them to affiliated salespersons
• d.Depositing them into a separate escrow account and not commingling them with the broker's own funds✓

A Pennsylvania broker must deposit client money such as deposits and earnest money into a separate escrow account and may not commingle those funds with the broker's own money. Escrow handling and recordkeeping are broker-management responsibilities. Mishandling escrow is among the most serious RELRA violations.

Which of the following is a broker-only responsibility in Pennsylvania?

• a.Maintaining a fixed office that meets RELRA requirements and is subject to Commission inspection✓
• b.Passing the salesperson pre-license course
• c.Attending an open house as a guest
• d.Holding a Pennsylvania driver's license

Brokerage-management topics tested only on the broker exam include maintaining a fixed office that meets RELRA and Commission requirements, which may be inspected, along with supervising licensees and handling escrow. These operational duties distinguish the broker from a salesperson, who works under a broker.

A Pennsylvania broker's duty to supervise affiliated salespersons means the broker:

• a.Only supervises salespersons who have complaints filed against them
• b.May ignore salesperson advertising
• c.Is responsible for reasonably supervising the licensed activity of affiliated salespersons and the brokerage's compliance with RELRA✓
• d.Has no responsibility once a salesperson is licensed

The broker of record is responsible for reasonably supervising affiliated salespersons and for the brokerage's compliance with RELRA, including advertising, escrow, and disclosures. A broker can be disciplined for failing to supervise even when a salesperson committed the underlying violation.

Which real estate interests may involve special Pennsylvania rules that a broker should understand?

• a.Only single-family detached homes
• b.Time-shares, planned communities, and condominiums, which carry specific disclosure and registration requirements✓
• c.Only vacant agricultural land
• d.Only commercial office leases

Pennsylvania has specific requirements for time-shares, planned communities, and condominiums, including disclosure and, for some, registration obligations. A broker handling these interests must understand the applicable rules. The broker exam expects familiarity with these property forms beyond ordinary single-family sales.