Pennsylvania Real Estate Salesperson Practice Test

Answer choices

1. A. A BPO can be prepared only by a county tax assessor.
2. B. A BPO is a deed that transfers title after foreclosure.
3. C. A BPO is a broker-prepared estimate of probable selling price and is not automatically the same as a USPAP appraisal.
4. D. A BPO is the required valuation for every mortgage origination because broker market knowledge replaces the need for an appraisal whenever a licensed broker supplies a price opinion.

Wrong-answer review

• A. A BPO can be prepared only by a county tax assessor.: Incorrect. BPOs are associated with licensed real estate professionals under applicable state law.
• B. A BPO is a deed that transfers title after foreclosure.: Incorrect. A BPO is a valuation product, not a conveyance instrument.
• D. A BPO is the required valuation for every mortgage origination because broker market knowledge replaces the need for an appraisal whenever a licensed broker supplies a price opinion.: Incorrect. Federal and state rules govern mortgage valuations; a BPO is not automatically the required or exclusive valuation.

Answer choices

1. A. Yes. Any active salesperson may prepare a BPO on the first day of licensure.
2. B. Yes, if the client waives the experience requirement in writing.
3. C. No. A salesperson must have held an active license for the three years immediately preceding the BPO’s effective date and meet the education requirements.
4. D. No. Salespersons are permanently prohibited from preparing BPOs.

Answer choices

1. A. The county zoning hearing board.
2. B. The broker’s advertising account.
3. C. The Real Estate Recovery Fund.
4. D. The federal flood insurance program.

Answer choices

1. A. Only after the buyer submits an offer.
2. B. At that initial interview.
3. C. Only at settlement.
4. D. Only after an exclusive buyer-agency contract is signed.

Answer choices

1. A. Nothing about licensure because owners are always exempt from advertising rules.
2. B. Only the owner’s continuing-education transcript.
3. C. That the owner is a real estate licensee.
4. D. The owner must falsely advertise the property as broker-owned.

Answer choices

1. A. Refuse to publish the discriminatory preference and explain that housing advertising may not express a protected-class preference.
2. B. Publish it because the owner controls all advertising language.
3. C. Replace the religious language with a neutral phrase such as “quiet tenants preferred” while continuing to screen applicants according to the landlord’s stated religious preference.
4. D. Publish it only on a social-media account rather than the MLS.

Answer choices

1. A. A quitclaim deed.
2. B. A special warranty deed.
3. C. A bargain-and-sale deed without covenants.
4. D. A general warranty deed.

Answer choices

1. A. A patent defect.
2. B. A latent defect.
3. C. An easement in gross.
4. D. A capitalization rate.

Answer choices

1. A. Directly to the salesperson’s personal checking account.
2. B. To the county tax assessor.
3. C. Directly to the salesperson’s employing broker.
4. D. To the property owner regardless of who requested the BPO.

Answer choices

1. A. Guarantee the seller must make every requested repair.
2. B. Tell the buyer the inspection report automatically cancels the contract because an inspection contingency terminates the agreement whenever the inspector identifies a material defect.
3. C. Conceal the report until after closing to preserve the transaction.
4. D. Explain the contractual options and deadlines and promptly deliver the buyer’s written election as authorized by the buyer.