Practice Test PSI NJ REAL Estate Exam, psi
pdf questions Actual Exam 2026-2027\Latest
Update with Verified Answers Graded A+\Actual
final prep Exam
Antitrust laws prohibit competing brokers from all of the following
EXCEPT
receiving compensation from both the buyer and the seller.
Without checking the facts, a broker who is the seller's agent tells a
buyer that the property taxes in a particular neighborhood are
among the lowest in the
area. The buyer relies on the broker's statement and makes an offer on a
house in the neighborhood. Before closing, it is determined that the
taxes are actually
among the highest in the area. The buyer could seek to rescind the
contract on the basis of
misrepresentation
The sellers have agreed to give the buyers an allowance of $16.95
per square yard to retile the kitchen. If the kitchen is 10 feet x 14 feet,
how much will it cost the sellers (to the nearest dollar)?
$264
,Three identical homes in a neighborhood were listed at the same
time in a market where demand was constant. According to the
law of supply and demand, which would have sold for the lowest
price?
the first sold
Which of the following is the first action to take when mold problems
are found?
Identify and remedy the cause of the problems.
A borrower has defaulted on the mortgage. The mortgage contains
an acceleration clause. This permits the lender to
demand immediate payment of the entire note.
A buyer is getting a fully amortized loan for $220,000. The bank will
give the buyer the loan for 15 years at 5 1/2% or for 30 years at 6 1/2%.
To the nearest cent, what is the difference between the monthly
payments for these two loans? (BE SURE TO USE THE
AMORTIZATION TABLE.)
$409.20
,A property management plan may serve different purposes for
different owners, and generally has to strike a balance between
preservation of the property's
value and generation of income. Which of the following owners
would MOST likely prefer a property manager who emphasizes
maintenance of value over profitability?
An individual entrepreneur who owns several apartment buildings.
A written agreement in which a purchaser agrees to buy and a seller
agrees to sell is called
a contract
Errors and Omissions insurance covers the broker for
Unintentional misrepresentation
An example of a contract terminated due to inability to perform would
be one in which the
seller had contracted for sale of the entire property without the
knowledge or consent of the other joint tenant.
According to the Truth-in-Lending Act, if any "trigger terms" are used
in an ad, all of the following disclosures MUST appear in the...
cash price or amount of the loan, amount of down payment
required and number, amount, and frequency of payments. DO NOT
NEED TO INCLUDE PREPAYMENT PENALTIES AND REBATES.
, A deed restriction is applicable to the activities of
present and future owners.
In MOST states, foreclosed property is sold through
Public Auction
A tenant rented an apartment, signing a 15-month lease. After the
lease expired, the tenant paid 1 month's rent and got a receipt. What
kind of leasehold does the tenant have?
tenancy at will
When preparing a market data estimate of value, which of the
following categories of adjustment is NOT essential?
The original cost of the building.
Which of these Federal laws regulates the advertisement of a
lender's credit terms (rates, payment, etc.)?
Regulation Z
pdf questions Actual Exam 2026-2027\Latest
Update with Verified Answers Graded A+\Actual
final prep Exam
Antitrust laws prohibit competing brokers from all of the following
EXCEPT
receiving compensation from both the buyer and the seller.
Without checking the facts, a broker who is the seller's agent tells a
buyer that the property taxes in a particular neighborhood are
among the lowest in the
area. The buyer relies on the broker's statement and makes an offer on a
house in the neighborhood. Before closing, it is determined that the
taxes are actually
among the highest in the area. The buyer could seek to rescind the
contract on the basis of
misrepresentation
The sellers have agreed to give the buyers an allowance of $16.95
per square yard to retile the kitchen. If the kitchen is 10 feet x 14 feet,
how much will it cost the sellers (to the nearest dollar)?
$264
,Three identical homes in a neighborhood were listed at the same
time in a market where demand was constant. According to the
law of supply and demand, which would have sold for the lowest
price?
the first sold
Which of the following is the first action to take when mold problems
are found?
Identify and remedy the cause of the problems.
A borrower has defaulted on the mortgage. The mortgage contains
an acceleration clause. This permits the lender to
demand immediate payment of the entire note.
A buyer is getting a fully amortized loan for $220,000. The bank will
give the buyer the loan for 15 years at 5 1/2% or for 30 years at 6 1/2%.
To the nearest cent, what is the difference between the monthly
payments for these two loans? (BE SURE TO USE THE
AMORTIZATION TABLE.)
$409.20
,A property management plan may serve different purposes for
different owners, and generally has to strike a balance between
preservation of the property's
value and generation of income. Which of the following owners
would MOST likely prefer a property manager who emphasizes
maintenance of value over profitability?
An individual entrepreneur who owns several apartment buildings.
A written agreement in which a purchaser agrees to buy and a seller
agrees to sell is called
a contract
Errors and Omissions insurance covers the broker for
Unintentional misrepresentation
An example of a contract terminated due to inability to perform would
be one in which the
seller had contracted for sale of the entire property without the
knowledge or consent of the other joint tenant.
According to the Truth-in-Lending Act, if any "trigger terms" are used
in an ad, all of the following disclosures MUST appear in the...
cash price or amount of the loan, amount of down payment
required and number, amount, and frequency of payments. DO NOT
NEED TO INCLUDE PREPAYMENT PENALTIES AND REBATES.
, A deed restriction is applicable to the activities of
present and future owners.
In MOST states, foreclosed property is sold through
Public Auction
A tenant rented an apartment, signing a 15-month lease. After the
lease expired, the tenant paid 1 month's rent and got a receipt. What
kind of leasehold does the tenant have?
tenancy at will
When preparing a market data estimate of value, which of the
following categories of adjustment is NOT essential?
The original cost of the building.
Which of these Federal laws regulates the advertisement of a
lender's credit terms (rates, payment, etc.)?
Regulation Z
