PSI Real Estate

Real Estate brokerage is govern by: - Answer 1. Satutory Law - Brokers Act "Title 17" 2. Administrative Law - Code of Maryland Regulations (COMAR) Regulation is enacted and enforced by MD Real Estate Commission (MREC) Brokerage Services: - Answer For consideration: - *Selling, buying, exchanging, or leasing* any real estate or collecting rent - Assisting to *locate/obtain* for purchase/lease any residential real estate - Serving as a consultant Engage regularly in a business of.....

PSI REAL ESTATE EXAM PREP | LATEST

(Answered) PSI Real Estate Exam - Contracts Acceptance 1. Agreeing to the terms of an offer to enter into a contract, thereby creating a binding contract. 2. Taking delivery of a deed. Consideration Anything of value, such as money, services, goods, or promises, given to induce another to enter into a contract. Sometimes called valuable _________ Contingency Clause A provision in a contract or deed that makes the parties’ rights and obligations depend on the occurrence (or nonocc...

PSI Real Estate Exam Prep

PSI Real Estate Exam: Transfer of Title

PSI Real Estate Exam (MD State Portion) Latest 2024 Graded A+ Real Estate brokerage is govern by: 1. Satutory Law - Brokers Act "Title 17" 2. Administrative Law - Code of Maryland Regulations (COMAR) Regulation is enacted and enforced by MD Real Estate Commission (MREC) Brokerage Services: For consideration: - Selling, buying, exchanging, or leasing any real estate or collecting rent - Assisting to locate/obtain for purchase/lease any residential real estate - Serving as a consultant...

Broker - Answer- Individual licensed to charge the public for real estate services Broker-Salesperson - Answer- Fully qualified broker who remains under another broker's services Bureau of Subdivided Land Sales Control - Answer- State agency that approves and registers some out-of- state property Continuing education - Answer- Classes required for license renewal Guaranty Fund - Answer- Reimburses people defrauded or badly served by licensees in real estate transactions New Jerse...

PSI Real Estate Salesperson Exam 1 With Correct Answers Which of the following would NOT be considered Real Property? 1. Mineral Rights 2. A Leasehold Estate 3. Fixtures 4. Air -answer 2. A Leasehold Estate The servient estate in an easement appurtenant is the property 1. owned by the landlord 2. on which the easement is placed 3. owned by the tenant 4. that benefits from the easement -answer 2. on which the easement is placed Which of the following statements concerning encumbrances...

Bilateral - correct answer What is a type of contract in which two parties are legally bound to act? Functional Obsolence - correct answer What is one kind of real property depreciation caused by poor design? Grantee - correct answer What is the name of the party who aquires the title to real property in a deed? Biennial - correct answer What is one word that indicates how often a PA salesperson's license is required to be renewed? Testate - correct answer What is the cond...