PSI NATIONAL REAL ESTATE
SALESPERSON PRACTICE ACTUAL TEST
2026 QUESTIONS WITH ANSWERS
GRADED A+
>> A written agreement in which a purchaser agrees to buy and a seller agrees to
sell is called
Answer: a contract
>> Antitrust laws prohibit competing brokers from all of the following
2. dividing the market to restrict competition.
3. agreeing to set sales commissions and management rates.
Answer: 1. boycotting other brokers in the marketplace.
>> When a sewer line is installed down a rural road, the cost will probably be
shared by
Answer: all current owners of real estate fronting on that road
>> State laws differ on whether a buyer is entitled to know about
Answer: a suicide that occurred in the house last year.
>> A lawsuit for inverse condemnation may be brought by
Answer: a homeowner
>> When is racial discrimination in the rental of rooms or apartments permitted?
Answer: Under no circumstances
>> The real estate broker who is listing a house for sale should personally verify
, Answer: the number of square feet in the building
>> Real property can be converted to personal property by
Answer: Severance
>> Prospective buyers made an offer on a property. The seller did NOT accept,
but made a counteroffer. The
prospective buyers signed the counteroffer and the real estate agent delivered
their acceptance to the seller.
In the interim, the same buyers had found another house that they liked better and
made an offer on it, which was accepted. Which of the following is TRUE?
Answer: Both contracts are valid
>> Although states make specific laws governing water rights and the rights in
land that borders water, most states
generally follow one of two basic doctrines regarding water rights. In many
states, the common law doctrine of riparian and littoral rights dictates that water
rights are automatically conveyed with property. In others, all water rights are
controlled by the state under the doctrine of
Answer: prior appropriation
>> The purpose of requiring an earnest money deposit in a real estate sales
contract is to
Answer: provide evidence of the buyer's intention to carry out the contract.
>> 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.)
Answer: $409.20.
SALESPERSON PRACTICE ACTUAL TEST
2026 QUESTIONS WITH ANSWERS
GRADED A+
>> A written agreement in which a purchaser agrees to buy and a seller agrees to
sell is called
Answer: a contract
>> Antitrust laws prohibit competing brokers from all of the following
2. dividing the market to restrict competition.
3. agreeing to set sales commissions and management rates.
Answer: 1. boycotting other brokers in the marketplace.
>> When a sewer line is installed down a rural road, the cost will probably be
shared by
Answer: all current owners of real estate fronting on that road
>> State laws differ on whether a buyer is entitled to know about
Answer: a suicide that occurred in the house last year.
>> A lawsuit for inverse condemnation may be brought by
Answer: a homeowner
>> When is racial discrimination in the rental of rooms or apartments permitted?
Answer: Under no circumstances
>> The real estate broker who is listing a house for sale should personally verify
, Answer: the number of square feet in the building
>> Real property can be converted to personal property by
Answer: Severance
>> Prospective buyers made an offer on a property. The seller did NOT accept,
but made a counteroffer. The
prospective buyers signed the counteroffer and the real estate agent delivered
their acceptance to the seller.
In the interim, the same buyers had found another house that they liked better and
made an offer on it, which was accepted. Which of the following is TRUE?
Answer: Both contracts are valid
>> Although states make specific laws governing water rights and the rights in
land that borders water, most states
generally follow one of two basic doctrines regarding water rights. In many
states, the common law doctrine of riparian and littoral rights dictates that water
rights are automatically conveyed with property. In others, all water rights are
controlled by the state under the doctrine of
Answer: prior appropriation
>> The purpose of requiring an earnest money deposit in a real estate sales
contract is to
Answer: provide evidence of the buyer's intention to carry out the contract.
>> 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.)
Answer: $409.20.
