PSI NATIONAL REAL ESTATE
SALESPERSON PRACTICE FINAL SCRIPT
2026 QUESTIONS WITH ANSWERS
GRADED A+
>> Martha was able to go to the closing and sign the paperwork to sell her
mother's property while her mother was in the hospital. How could this be
possible?
1. Martha may have been named an executor of her mother's will.
2. Her mother may have had a power of attorney drawn up making Martha her
attorney in fact.
3. Martha and her mother may own the property as joint tenants, so that Martha
may sign as owner
4. Martha's mother's surgeon recommended that this be permitted to alleviate her
mother's stress and regarding this pending transaction
Answer: 2. Her mother may have had a power of attorney drawn up making
Martha her attorney in fact.
>> Janet is the property for a 20 unit building. What steps would she take when
asked to prorate the rent if a new tenant wants to move in on the 8th day of the
month in June?
1. subtract 8 days from 365 to come up with the prorated rent per day
2. Divide the monthly rent by 30 days and multiply that number by 22
3. calculate the 22 day rental amount and add a prorated utility fee
4. advise the tenant that the first available move-in date is July 1
Answer: 2. Divide the monthly rent by 30 days and multiply that number by
22
>> In a jurisdiction where the common law of agency governs real estate
activities, a broker has entered a single agency relationship with the buyer. The
broker has put together a list of properties but it was based off how much
,commission he can make on this sale. What fiduciary duty did the broker violate?
1. confidentiality
2. loyalty
3. disclosure
4. caution
Answer: 2. loyalty
>> Why was asbestos often used as a construction material?
1. waterproof
2. fireproof
3. indestructible
4. cheap
Answer: 2. fireproof
>> An owner signed a contract to sell an apartment building. Just before closing,
the owner informed the buyers that she had changed her mind and would NOT
sell the property. A lawsuit filed by the buyers would be for:
1. specific performance
2. lis pendens
3. quiet title action
4. a deficiency judgement
Answer: 1. specific performance
>> The broker has noticed that a great number of people who are buying in the
neighborhood where his listing is located speak Russian. He also noticed a
Russian grocery store right by the neighborhood that was attractive. He decides
to stop the advertising the property and started adverting the property on two
different Russian internet sites. This is:
1. Acceptable because it is not print media
2. Unacceptable due to its discriminatory nature
3. Acceptable if the advertisement includes no preferential language
4. The only appropriate way to market property in this neighborhood
Answer: 3. Acceptable if the advertisement includes no preferential
language
, >> Market price is:
1. What the property sells for
2. The most probable price
3. The same as market value
4. The same as cost when used
Answer: 1. What the property sells for
>> The most listing contracts, a broker who has brought a ready, willing, and
able buyer to a seller who agrees to the terms of a sales contract:
1. earns a commission at that point
2. earns a commission even if the contingencies in the contract have not been
met.
3. does not earn commission unless the sale closes
4. does not earn commission if the buyer and seller agree to rescind the contract
Answer: 3. does not earn commission unless the sale closes
>> A building was purchased for $350,000 with a 20% down payment, If the
lender charged the buyer three discount points, how much will the buyer need to
cover these two:
1. $61,600
2. $78,400
3. $80,500
4.$360,500
Answer: 2. $78,400
>> A developer intends to subdivide a large parcel of land and is in the process of
land planning. He has determined the geographic boundaries of the individual
lots and how the streets as the development will be signed to give access to each
lot, when can he begin to list this property?
1. after he records prescriptive easements for lots that have no street frontage
2. When local authorities grant him a conditional use permit allowing residential
construction
3. When he has submitted his plat map to local authorities, received approval,
and recorded it
SALESPERSON PRACTICE FINAL SCRIPT
2026 QUESTIONS WITH ANSWERS
GRADED A+
>> Martha was able to go to the closing and sign the paperwork to sell her
mother's property while her mother was in the hospital. How could this be
possible?
1. Martha may have been named an executor of her mother's will.
2. Her mother may have had a power of attorney drawn up making Martha her
attorney in fact.
3. Martha and her mother may own the property as joint tenants, so that Martha
may sign as owner
4. Martha's mother's surgeon recommended that this be permitted to alleviate her
mother's stress and regarding this pending transaction
Answer: 2. Her mother may have had a power of attorney drawn up making
Martha her attorney in fact.
>> Janet is the property for a 20 unit building. What steps would she take when
asked to prorate the rent if a new tenant wants to move in on the 8th day of the
month in June?
1. subtract 8 days from 365 to come up with the prorated rent per day
2. Divide the monthly rent by 30 days and multiply that number by 22
3. calculate the 22 day rental amount and add a prorated utility fee
4. advise the tenant that the first available move-in date is July 1
Answer: 2. Divide the monthly rent by 30 days and multiply that number by
22
>> In a jurisdiction where the common law of agency governs real estate
activities, a broker has entered a single agency relationship with the buyer. The
broker has put together a list of properties but it was based off how much
,commission he can make on this sale. What fiduciary duty did the broker violate?
1. confidentiality
2. loyalty
3. disclosure
4. caution
Answer: 2. loyalty
>> Why was asbestos often used as a construction material?
1. waterproof
2. fireproof
3. indestructible
4. cheap
Answer: 2. fireproof
>> An owner signed a contract to sell an apartment building. Just before closing,
the owner informed the buyers that she had changed her mind and would NOT
sell the property. A lawsuit filed by the buyers would be for:
1. specific performance
2. lis pendens
3. quiet title action
4. a deficiency judgement
Answer: 1. specific performance
>> The broker has noticed that a great number of people who are buying in the
neighborhood where his listing is located speak Russian. He also noticed a
Russian grocery store right by the neighborhood that was attractive. He decides
to stop the advertising the property and started adverting the property on two
different Russian internet sites. This is:
1. Acceptable because it is not print media
2. Unacceptable due to its discriminatory nature
3. Acceptable if the advertisement includes no preferential language
4. The only appropriate way to market property in this neighborhood
Answer: 3. Acceptable if the advertisement includes no preferential
language
, >> Market price is:
1. What the property sells for
2. The most probable price
3. The same as market value
4. The same as cost when used
Answer: 1. What the property sells for
>> The most listing contracts, a broker who has brought a ready, willing, and
able buyer to a seller who agrees to the terms of a sales contract:
1. earns a commission at that point
2. earns a commission even if the contingencies in the contract have not been
met.
3. does not earn commission unless the sale closes
4. does not earn commission if the buyer and seller agree to rescind the contract
Answer: 3. does not earn commission unless the sale closes
>> A building was purchased for $350,000 with a 20% down payment, If the
lender charged the buyer three discount points, how much will the buyer need to
cover these two:
1. $61,600
2. $78,400
3. $80,500
4.$360,500
Answer: 2. $78,400
>> A developer intends to subdivide a large parcel of land and is in the process of
land planning. He has determined the geographic boundaries of the individual
lots and how the streets as the development will be signed to give access to each
lot, when can he begin to list this property?
1. after he records prescriptive easements for lots that have no street frontage
2. When local authorities grant him a conditional use permit allowing residential
construction
3. When he has submitted his plat map to local authorities, received approval,
and recorded it
