Under RELA, the Pennsylvania State Real Estate Commission is composed of members appointed by the Governor. The SREC includes which combination of members?
Correct Answer
C) A mix of licensed brokers, a salesperson, a builder, and consumer members as designated by statute
Under RELA, the SREC is composed of a mix of professional and public members appointed by the Governor with Senate confirmation, including licensed brokers, a salesperson, a builder, and consumer members.
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Related Concepts
Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
More Pa Rela License Law Questions
Under RELA, Pennsylvania's 14-hour CE requirement includes specific mandatory topics. All of the following may satisfy CE requirements EXCEPT:
Under RELA, where can a Pennsylvania licensee verify whether a CE course is SREC-approved before enrolling?
Patricia, a Pennsylvania salesperson, is asked by her broker to manage a branch office location. Under RELA, which requirement must be met for Patricia to manage a branch office?
Under RELA, a newly licensed Pennsylvania salesperson asks whether the 14-hour CE requirement applies to both salespersons and brokers. Which of the following is correct?
Under RELA, how often must Pennsylvania real estate licensees renew their licenses?
- → Under RELA, a Pennsylvania licensee who held an active license for 25 years is approaching retirement and wonders about the status of their license after retirement. If the licensee stops renewing, what is the ultimate status of the license?
- → Under RELA, the SREC discovers that a CE course provider has been issuing completion certificates to students who did not actually attend or complete the course. What action may the SREC take against the provider?
- → Laura, a Pennsylvania salesperson, completed 10 hours of CE before her renewal deadline but needs 14 hours. She realizes she is 4 hours short on the day before the renewal deadline. Under RELA, what happens if Laura fails to complete the required CE before renewal?
- → Under RELA, a Pennsylvania salesperson, Marcus, learns that the SREC has opened an investigation into his conduct. Marcus wants to know if he can continue working during the investigation. Which statement is correct?
- → Under RELA, a Pennsylvania broker of record, Alan, voluntarily surrenders his license to the SREC while facing disciplinary charges for trust account violations. What effect does the voluntary surrender have?
- → Under RELA, after the SREC issues a final disciplinary order, a Pennsylvania licensee disagrees with the decision. What is the licensee's avenue of appeal?
- → Under RELA, a Pennsylvania broker, Diane, is charged by the SREC with failing to supervise a salesperson who committed fraud. Diane claims she had no knowledge of the salesperson's actions. Which statement is MOST accurate regarding Diane's liability?
- → Under RELA, the Pennsylvania licensing examination for real estate salespersons is administered by which entity?
- → Under RELA, a Pennsylvania real estate salesperson must meet which of the following education prerequisites before applying for a license?
- → Under RELA, a salesperson in Pennsylvania may work for only one broker at a time. If salesperson Alice wants to refer a client to an agent in a different brokerage, what is the proper procedure?
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A Pennsylvania salesperson, Mark, receives an offer on a listing that includes an earnest money deposit. The seller rejects the offer. Under RELA, what must happen to the earnest money deposit?
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Alex, a Pennsylvania real estate salesperson, decides to transfer from Broker Smith to Broker Jones. Under RELA, what must happen for this transfer to be valid?