Under RELA, a PA broker must perform a reconciliation of their escrow account. How frequently must this reconciliation be performed?
Correct Answer
B) Monthly
Under RELA and SREC regulations, brokers must perform monthly reconciliations of their escrow accounts. This ensures that the account balance matches the total of all client funds that should be held in escrow.
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- → The SREC publishes a consent agreement with a licensee who committed RELA violations. What is a consent agreement?
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- → How many hours of pre-license education must a candidate complete to qualify for a Pennsylvania real estate salesperson license?
- → Karen is a PA-licensed salesperson who has been inactive for several years. She wants to reactivate her license. Under SREC rules, what must Karen do?
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A PA licensee receives notification from the SREC that they did not complete sufficient CE for their last renewal. What is the typical consequence?
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