national real estate EXAM A+ GRADE ASSURED COMPLETE SOLUTIONS AND VERIFIED ANSWERS

ATI EXAM ms




Exam Solution ms




PSI National Exam for Real Estate 2026 A+ GRADE ASS
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URED COMPLETE SOLUTIONS AND VERIFIED ANSWERS ms ms ms ms ms




(11E14)
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QUESTION 1 ms




A written agreement in which a purchaser agrees to buy and a seller agrees to sell is
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called
ANSWER

a contract
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QUESTION 2 ms




Antitrust laws prohibit competing brokers from all of the following
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ANSWER

1. boycotting other brokers in the marketplace. 2. dividing the market to restrict competition. 3. agr
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eeing to set sales commissions and management rates.
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QUESTION 3 ms




When a sewer line is installed down a rural road, the cost will probably be shared by
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ANSWER

all current owners of real estate fronting on that road
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QUESTION 4 ms




State laws differ on whether a buyer is entitled to know about
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ANSWER

a suicide that occurred in the house last year.
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,QUESTION 5 ms




A lawsuit for inverse condemnation may be brought by
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ANSWER

a homeowner
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QUESTION 6 ms




When is racial discrimination in the rental of rooms or apartments permitted?
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ANSWER

Under no circumstancesms ms




QUESTION 7 ms




The real estate broker who is listing a house for sale should personally verify
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ANSWER

the number of square feet in the building
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QUESTION 8 ms




Real property can be converted to personal property by
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ANSWER

Severance



QUESTION 9 ms




Prospective buyers made an offer on a property. The seller did NOT accept, but made
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a counteroffer. The prospective buyers signed the counteroffer and the real estate age
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nt delivered their acceptance to the seller. In the interim, the same buyers had found
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another house that they liked better and made an offer on it, which was accepted. Wh
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ich of the following is TRUE?
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ANSWER

Both contracts are valid
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QUESTION 10 ms

,The purpose of requiring an earnest money deposit in a real estate sales contract is t
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o
ANSWER

provide evidence of the buyer's intention to carry out the contract.
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QUESTION 11 ms




A buyer is getting a fully amortized loan for $220,000. The bank will give the buyer th
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e loan for 15 years at 5 1/2% or for 30 years at 6 1/2%. To the nearest cent, what is
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the difference between the monthly payments for these two loans? (BE SURE TO USE
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THE AMORTIZATION TABLE.)
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ANSWER

$409.20.



QUESTION 12 ms




A borrower has defaulted on the mortgage. The mortgage contains an acceleration cla
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use. This permits the lender to
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ANSWER

demand immediate payment of the entire note
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QUESTION 13 ms




The FHA functions MOST like
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ANSWER

an insurance company
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QUESTION 14 ms




1. They are used to buy down interest rate. 2. They are a function of the marketplace.
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3. They are paid by either the buyer or the seller.
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ANSWER

discount points ms




QUESTION 15 ms




When land is conveyed to a trustee, the trustee may
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, ANSWER

do whatever is permitted under the trust agreement
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QUESTION 16 ms




A prospective buyer made an offer to purchase a property. The owner responded with
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a counteroffer. While the buyer was reviewing the counteroffer, the owner received a
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better offer. The owner can accept the second offer if
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ANSWER

the owner withdraws the counteroffer before it is accepted.
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QUESTION 17 ms




While an agent is showing a listed property, the seller and the buyer enter into an or
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al agreement for the purchase of the home. If a dispute over the terms arises later, th
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e agreement may be unenforceable because
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ANSWER

the agreement does not comply with the Statute of Frauds
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QUESTION 18 ms




Earnest money should be deposited into a trust account
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ANSWER

in a timely manner, according to state laws
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QUESTION 19 ms




A deed restriction is applicable to the activities of
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ANSWER

all owners, present and future
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QUESTION 20 ms




An easement can be terminated by
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ANSWER

prescription