US Real Estate Pennsylvania Test 7

Real Estate » Category

Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

Prepared with up-to-date content

Real Estate — Pennsylvania Professional (Real Estate, USA) USA — Pennsylvania State Real Estate License — USA

What is this test? for Real Estate Salesperson/Broker prep, USA (national + state law) — Professional (Real Estate, USA) level, USA — Pennsylvania.
For adults preparing for Real Estate license in the USA
Section: Real Estate — Pennsylvania · Education: Professional (Adult) · Part: Real Estate — Pennsylvania · Country: USA · Region: USA — Pennsylvania

Finance and real estate acumen covers markets, valuation, contracts, and budget management.

This test is designed to reinforce core concepts and help you succeed on your exams.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

What is a warranty deed?

A) lease

B) quitclaim

C) option

D) guarantees clear title

Question 2

Which agency licenses agents in Pennsylvania?

A) IRS

B) State Bar

C) Medical Board

D) Pennsylvania Real Estate Commission

Question 3

What is a listing agreement?

A) contract to sell a property

B) deed

C) purchase offer

D) lease

Question 4

What is earnest money?

A) commission

B) tax

C) fee

D) buyer good-faith deposit

Question 5

What is a fiduciary duty?

A) loyalty, obedience, care to client

B) dual profit

C) profit first

D) secrecy from client

Question 6

What is dual agency?

A) no representation

B) buyer only

C) two brokers

D) one broker representing both sides

Question 7

What is a quitclaim deed?

A) full warranty

B) transfers whatever interest exists

C) lease

D) loan

Question 8

What is the Fair Housing Act?

A) bans housing discrimination

B) tax law

C) zoning code

D) building code

Question 9

What classes are protected in housing?

A) age only

B) race, color, religion, sex, handicap, family, national origin

C) politics

D) income

Question 10

What is redlining?

A) surveying

B) appraising

C) illegal denial by neighborhood

D) mapping

Question 11

What is steering?

A) advertising

B) guiding buyers by race (illegal)

C) negotiating

D) showing homes

Question 12

What is a CMA?

A) comparative market analysis

B) inspection

C) appraisal

D) survey

Question 13

What is an appraisal?

A) offer

B) listing

C) inspection

D) professional value opinion

Question 14

What is title insurance?

A) flood policy

B) protects against title defects

C) home warranty

D) life insurance

Question 15

What are the three appraisal approaches?

A) sales comparison, cost, income

B) show, stage, sell

C) list, sell, close

D) offer, accept, record

Question 16

What is PITI?

A) principal, interest, taxes, insurance

B) a loan type

C) a tax

D) a deed

Question 17

What is LTV?

A) loan-to-value ratio

B) listing traffic volume

C) land title verification

D) lease term value

Question 18

What is PMI?

A) insurance for low down payments

B) flood insurance

C) title insurance

D) property tax

Question 19

What is escrow?

A) neutral third-party holding

B) down payment

C) tax

D) commission

Question 20

What is a deed?

A) lease

B) offer

C) loan paper

D) ownership transfer document

US Real Estate Pennsylvania Test 7

Test Complete

About This Test