Pennsylvania License Law
Pennsylvania's Real Estate Recovery Fund is designed to:
AFund the State Real Estate Commission's operations
BReimburse consumers who suffer financial losses caused by licensee misconduct✓ Correct
CProvide loans to new licensees to start their careers
DCover errors and omissions insurance for licensees
Explanation
The Real Estate Recovery Fund reimburses consumers who have suffered financial losses due to fraud, misrepresentation, or deceit by a licensed real estate professional when the licensee cannot satisfy the judgment. Maximum recovery is $20,000 per transaction.
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