The Pearson Vue State Exam - The Real Estate School of LCAR
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The document provides an overview of the Pennsylvania real estate salesperson exam, which consists of 120 multiple-choice questions split between national and state portions. It outlines the exam content, required topics such as property characteristics, real estate contracts, and appraisals, and registration instructions. Additionally, it offers test-taking strategies and advice for candidates to prepare effectively and manage their time during the exam.
The Pearson Vue State Exam - The Real Estate School of LCAR
- 1. The Real Estate School P E N N S Y LVA N I A THE PEARSON VUE STATE EXAM
- 2. AN OVERVIEW OF THE EXAM Salesperson Exam 120 multiple choice questions (3遜 hours) National Portion 80 questions (2遜 hours) 60 questions right = 75% Pre-test Questions 5-10
- 3. AN OVERVIEW OF THE EXAM Salesperson Exam 120 multiple choice questions (3遜 hours) State Portion 40 questions (1 hour) 30 questions right = 75% Pre-test Questions 5-10
- 4. WHATS ON THE EXAM? CONTENT OUTLINE Real Property Characteristics, Legal Descriptions, and Property Use Real property vs. personal property; characteristics of real property, legal descriptions, public and private land-use controls - encumbrances Forms of Ownership, Transfer, and Recording of Title Ownership, estates, rights, and interests; deed, title, transfer of title, and recording of title Property Value and Appraisal Concept of value; appraisal process, Methods of estimating value and broker price opinions (BPO) Real Estate Contracts and Agency Types of contracts; required elements of a valid contract; contract performance; sales contract; types of agency and licensee-client relationships; creation and termination of agency; licensee obligations to parties of a transaction NAT ION AL 9 8 11 16 QUESTIONS
- 5. WHATS ON THE EXAM? CONTENT OUTLINE Real Estate Practice Responsibilities of broker; brokerage agreements between the broker and principal; fair housing; risk management Property Disclosures and Environmental Issues Property conditions and environmental issues; disclosure obligations and liability Financing and Settlement Financing concepts and components; lender requirements; federal financing regulations and regulatory bodies; settlement and closing the transaction Real Estate Math Calculations Property area calculations; property valuation; commission/compensation; loan financing costs; settlement and closing costs; investment; property management calculations NAT ION AL 14 8 7 7 QUESTIONS
- 6. WHATS ON THE EXAM? Real Estate Commission (4 questions) Duties and powers, complaints, investigations, hearings, appeals, real estate recovery fund Licensure (8 questions) Activities requiring licensure, types of licenses, eligibility for license, license renewal and reactivation, change of employment, exclusions from licensure, suspension and revocation Regulation of Conduct of Licensees (28 questions) Advertising, agency relationships, compensation, duties of licensees, prohibited conduct, disclosures, documents, contracts, funds and accounts, PA Human Relations Act STA TE
- 7. HOW DO I REGISTER FOR THE EXAM? Use the instructions in the Pearson Vue exam booklet (copy will be provided) Register at https://pare.useclarus.com/ Exam fee is $49 Multiple test sites are located around the state. The closest test site to LCAR is: 205 Granite Run Drive Lancaster, PA 17601
- 8. ARRIVING AT THE EXAM SITE Two separate pieces of ID one of them government issued with a photo
- 9. ARRIVING AT THE EXAM SITE There is secure storage at the site but you may want to leave personal items in your vehicle Computers Cell phones Watches Recording devices Bulky/loose clothing Coats/jackets/vests Headgear not worn for religious purposes Firearms/weapons Purses/wallets Writing devices Food/drink Good Luck items
- 10. ARRIVING AT THE EXAM SITE People accompanying test taker must wait outside Clothing may be checked for concealed items Scratch paper is given must be signed and dated and turned in after the test
- 11. AN OVERVIEW OF THE EXAM Exam is taken on a computer Unlimited number of retakes If you PASS one portion and FAIL the other portion, you only have to retake the portion you didnt pass Results received when you submit your exam
- 12. THERE IS NO SUCH THING AS A MAGIC PILL FOR THE STATE EXAM
- 13. SCHEDULING THE TEST The monster in your head Schedule the test; it is an obstacle Once that is finished you can concentrate on studying Refrain from thinking you will study for the next two months YOU WONT
- 14. ATTITUDE IS KEY What is the worst that will happen? A manager will never ask you how many times you failed the exam A customer will never ask you how many times you took the exam
- 15. THE DAY BEFORE THE TEST Get a good nights rest resist pulling an all- nighter Show up early - you will be stressed out if you are running late
- 16. TEST TAKING STRATEGIES Dont watch the clock Slow down, pace yourself you will have plenty of time
- 17. TEST TAKING STRATEGIES Swim in the shallow end of the pool answer the easy questions first Eliminate answer(s) you know are wrong
- 18. TEST TAKING STRATEGIES Now, go back and look at the questions you skipped You will probably find clues in some questions that relate to other questions The test measures judgement, reasoning and factual knowledge
- 19. TEST TAKING STRATEGIES Read each question twice - Dont add anything to the question, dont make any assumptions There are no trick questions just questions that arent read