Agency and License Law Practice Question
Question
A license applicant is reviewing a practice scenario for the Pennsylvania Real Estate Salesperson Exam involving accounting and Pennsylvania Real Estate Commission. Which answer best reduces risk? (Item 169)
Answer choices
- A. Properly handle and account for money, documents, and property entrusted to the licensee in a way that fits Pennsylvania exam practice.
- B. The client’s preference eliminates the need to disclose known material facts.
- C. The party who complains first automatically receives the remedy requested.
- D. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
Correct Answer
A. Properly handle and account for money, documents, and property entrusted to the licensee in a way that fits Pennsylvania exam practice.
Explanation
The correct answer is A because accounting requires candidates to properly handle and account for money, documents, and property entrusted to the licensee. The Pennsylvania reference keeps the scenario tied to state licensing practice, while the other options rely on unsafe assumptions about oral custom, escrow, client preference, independent licensee authority, or ignoring written duties.
Question details
- Difficulty: easy
- Domain: Agency and License Law
- Objective: accounting