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45 HOUR REAL ESTATE PA EXAM LATEST 2025/2026
TEST BANK ACTUAL EXAM QUESTIONS AND VERIFIED
ANSWERS (100% CORRECT ANSWERS) GRADED A+
(NEWEST!!)
What type of agents specialize in working with buyers only?
a) Listing agents
b) Buyer's agents
c) Dual agents
d) Transaction coordinators - Correct Answer - Buyer's agents
REO real estate agents specialize in handling:
- short sales.
- rehab properties.
- bank-owned properties.
- multi-dwelling properties. - Correct Answer - bank-owned properties.
The competition for the resort home real estate buyer, and even many sellers, begins:
- with an agent.
- on the internet.
- with an attorney.
- with a broker. - Correct Answer - on the internet.
Creating real properties from raw land involves capital formation, financing, construction
contracting, and:
- performance.
- regulatory approvals.
- management.
- maintenance. - Correct Answer - regulatory approvals.
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pg. 2 In a real estate auction if the property is sold to the highest bidder regardless of the
price, this is a(n):
- absolute auction.
- reserve price auction.
- minimum bid auction.
- resolute auction. - Correct Answer - absolute auction.
Agent selection, declaration and proof of hardship, property valuation, agreement,
application, finding a buyer, negotiating, and closing are steps in a:
- normal real estate transaction.
- commercial real estate transaction.
- land sales contract.
- short sale real estate transaction - Correct Answer - short sale real estate
transaction
Most newly licensed practitioners choose to begin their real estate careers in:
- residential brokerage.
- land brokerage.
- commercial brokerage.
- investment brokerage - Correct Answer - residential brokerage.
A property manager acts in the best interests of:
- the public.
- the owner.
- him or herself.
- the tenants. - Correct Answer - the owner.
What refers to property that is owned and used for habitation?
a) Investment property
b) Residential property
c) Industrial property
d) Commercial property - Correct Answer - Residential property
Who is a direct agent of the principal (buyer or seller) who is hired for compensation to perform a stated service, such as negotiating the sale of property? 2 / 4
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a) A broker
b) A property manager
c) An agent
d) A lender - Correct Answer - broker
What is an area of landscape, including various structures, for the practice of raising grazing livestock such as cattle or sheep, for meat or wool?
a) An estate
b) A farm
c) A grange
d) A ranch - Correct Answer - ranch
Who services mortgage loans?
a) Mortgage brokers
b) Surveyors
c) Mortgage bankers
d) Attorneys - Correct Answer - Mortgage bankers
Who holds money or documents until certain terms and conditions of the escrow are met?
a) An insurance company
b) A property manager
c) An escrow company
d) An agent - Correct Answer - An escrow company
The principal areas of government regulation of real estate are usage, taxation, and:
- goal conflict.
- technology.
- housing administration.
- maintenance. - Correct Answer - housing administration.
Who can offer prospective buyers information about the various aspects of purchasing, using, or investing in property?
a) Attorneys
b) Mortgage brokers 3 / 4
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c) Appraisers
d) Real estate counselors - Correct Answer - Real estate counselors
When a buyer can afford a significant expense to purchase and maintain a vacation
property, he or she is generally:
- an uneducated buyer.
- a naïve buyer.
- a ready buyer.
- an intelligent buyer. - Correct Answer - an intelligent buyer.
Who generally pays the expenses of a real estate employee?
a) The buyer
b) The Commission
c) The seller
d) The broker - Correct Answer - The broker
How much does a broker withhold from the commission when paying an independent contractor?
- 0%
- 7%
- 10%
- 23% - Correct Answer - 0
If a licensee lists and sells a property, what side will he or she receive commission from?
a) The selling side
b) Neither side
c) The listing side
d) The listing and selling side - Correct Answer - The listing and selling side
Commission can be calculated through a percentage of the transaction, a flat fee, a fee
for service or:
- earned income.
- a salary.
- renumeration.
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