PSI NJ Real Estate Actual Exam 2026
Questions and Verified Answers
100% Guarantee Pass
1. The terms "littoral," "riparian," and "appropriative" refer to...
Answer: water rights
2. A salesperson lists a property with a contract that allows for subagency and
dual agency. The salesperson is
Answer: an agent to the broker and a subagent to the principal.
3. Depreciation is calculated based on the
Answer: Cost of the building only.
4. When a property owner uses his home as collateral for a loan and creates a
lien in favor of the lender, title is held by the
Answer: mortgagor
5. A competitive market analysis is MOST often used for
Answer: setting a listing price
,6. A seller tells the listing agent that her home was treated for termites 10 years
ago, so there are no termites now. Before listing the property, the agent should
Answer: tell the seller not to disclose, because the statute of limitations has run out.
7. All of the following are methods to calculate the reproduction or replacement
cost of a building EXCEPT the
Answer: straight-line method
8. The buyer is assuming a mortgage presently on the property in the amount of
$110,000. What is the adjustment made at closing?
Answer: Credit buyer $110,000; debit seller
$110,000.
9. If conditions for purchase are included in a deed and these conditions are
violated, what is the penalty?
Answer: Return of the property to the original owner.
10. 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.
11. A judgment has been properly recorded. Any subsequent purchasers,
whether they have actually examined the record or not, have been given
, Answer: con- structive notice
12. What type of map is MOST useful for describing the terrain of a very hilly
lot?
Answer: contour map
13. The Department of Housing and Urban Development estimates that most
private homes built before 1978 contain potentially dangerous levels of lead.
Because of this, some Federal agencies, such as FHA,
Answer: Require the buyer to acknowledge disclosure of the presence of any known lead paint.
14. At the time of listing, the seller tells the listing agent they are moving because the
neighbor has loud parties every weekend. The agent should
Answer: tell potential buyers about the parties. (Any social information expressed to an agent can be
shared)
15. A major reason for buying and owning a condominium rather than a de-
tached single-family home is that
Answer: a condominium tends to be more attordable.
16. A buyer was negotiating the purchase of a house for himself. During a
conversation with the seller, the seller agreed to include all kitchen appliances in
the sale, and this fact was included in the sales contract. In this situation,
Questions and Verified Answers
100% Guarantee Pass
1. The terms "littoral," "riparian," and "appropriative" refer to...
Answer: water rights
2. A salesperson lists a property with a contract that allows for subagency and
dual agency. The salesperson is
Answer: an agent to the broker and a subagent to the principal.
3. Depreciation is calculated based on the
Answer: Cost of the building only.
4. When a property owner uses his home as collateral for a loan and creates a
lien in favor of the lender, title is held by the
Answer: mortgagor
5. A competitive market analysis is MOST often used for
Answer: setting a listing price
,6. A seller tells the listing agent that her home was treated for termites 10 years
ago, so there are no termites now. Before listing the property, the agent should
Answer: tell the seller not to disclose, because the statute of limitations has run out.
7. All of the following are methods to calculate the reproduction or replacement
cost of a building EXCEPT the
Answer: straight-line method
8. The buyer is assuming a mortgage presently on the property in the amount of
$110,000. What is the adjustment made at closing?
Answer: Credit buyer $110,000; debit seller
$110,000.
9. If conditions for purchase are included in a deed and these conditions are
violated, what is the penalty?
Answer: Return of the property to the original owner.
10. 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.
11. A judgment has been properly recorded. Any subsequent purchasers,
whether they have actually examined the record or not, have been given
, Answer: con- structive notice
12. What type of map is MOST useful for describing the terrain of a very hilly
lot?
Answer: contour map
13. The Department of Housing and Urban Development estimates that most
private homes built before 1978 contain potentially dangerous levels of lead.
Because of this, some Federal agencies, such as FHA,
Answer: Require the buyer to acknowledge disclosure of the presence of any known lead paint.
14. At the time of listing, the seller tells the listing agent they are moving because the
neighbor has loud parties every weekend. The agent should
Answer: tell potential buyers about the parties. (Any social information expressed to an agent can be
shared)
15. A major reason for buying and owning a condominium rather than a de-
tached single-family home is that
Answer: a condominium tends to be more attordable.
16. A buyer was negotiating the purchase of a house for himself. During a
conversation with the seller, the seller agreed to include all kitchen appliances in
the sale, and this fact was included in the sales contract. In this situation,
