Which of the following is NOT a requirement of a valid exclusive listing agreement?

A. it must be in writing

B. it must contain a specific duration

C. it must be on a state- approved listing agreement form

D. it must describe the services to be performed

A salesperson receives a deposit from a perspective buyer. According to Pennsylvania law, what is the salespersons responsibility?

A. Promptly deliver the check to the seller for deposit by the end of the next business day

B. hold the check until the offer is accepted

C. immediately deposit the funds into the office account

D. promptly deliver the check to the broker for deposit

A real estate licensee may be disciplined by the Pennsylvania real estate commission for which of the following reasons?

A. inability to obtain automobile liability insurance

B. habitual intoxication or drug addiction

C. nonpayment of federal income taxes

D. any felony conviction