COLORADO PSI REAL ESTATE ACTUAL TEST
200 EXAM SCRIPT 2026 TEST PAPER
QUESTIONS AND SOLUTIONS GRADED A+
◉ Abstract of title.
Answer: A history of the ownership of parcel of land which lists
transfers of title, rights, and liabilities.
◉ Acceleration Clause.
Answer: Upon default, all the principal installments come due to
immediately
◉ Accesion.
Answer: owner of land is entitled to all the soil produces or all that is
added to the land either intentionally or by mistake. Trade fixtures
not removed are "assessed" by the owner of the property.
◉ Accretion.
Answer: Refers to land which is accumulated by the gradual washing
or motion of water
◉ Accrued.
,Answer: An accumulation
◉ Acknowledgement.
Answer: A formal declaration made by the grantor conveying the
property to the grantee - a necessary element for validity of a deed.
◉ Acre.
Answer: A measure of land equal to 43,560 square feet
◉ Action to quiet Title.
Answer: The lawsuit filed by a person to remove or clear the claims
against property.
◉ Actual Notice.
Answer: The actual knowledge that a person has about the existence
of a particular fact.
◉ Ad Valorem.
Answer: A prefix meaning "based on value". Most local governments
levy this type of tax on property.
◉ Adverse Possession.
,Answer: A method of acquiring original title to property by open,
notorious, and hostile possession for a statutory period of time; also
referred to as prescription. POACH
◉ Agency.
Answer: A relationship in which one party (the principle) authorizes
another party (the agent) the act as the principle's representative in
dealing with third parties
◉ Agent.
Answer: One who acts for and in place of a principle for the purpose
of affecting the principle's legal relations with third persons.
◉ Air rights.
Answer: The eight to use, control and occupy the space above a
particular parcel of land
◉ Alienation Clause.
Answer: A provision in a mortgage requiring full payment of the
debt upon the transfer of the title to the property, due on sale.
Prevents loan assumptions.
◉ Allodial.
, Answer: The free and full ownership of rights in land by individuals,
which is the basis of real property in the united states
◉ Amortization.
Answer: The repayment of a financial obligation over a period of
time in a series of periodic installments. In a level-payment
mortgage, this is the portion of the debt service that reduces the
principle.
◉ Amortized Loan.
Answer: A financial debt that is paid off over a period of time by a
series of periodic payments. A loan can be fully amortized of
partially amortized requiring a balloon payment to satisfy the debt
at the end of the term.
◉ Annual Percentage Rate (APR).
Answer: The yearly cost of credit. interest rate plus finance charge.
◉ Appraisal.
Answer: An opinion or estimate of value performed by a person
licensed to do so.
◉ Appreciation.
Answer: An increase in Value
200 EXAM SCRIPT 2026 TEST PAPER
QUESTIONS AND SOLUTIONS GRADED A+
◉ Abstract of title.
Answer: A history of the ownership of parcel of land which lists
transfers of title, rights, and liabilities.
◉ Acceleration Clause.
Answer: Upon default, all the principal installments come due to
immediately
◉ Accesion.
Answer: owner of land is entitled to all the soil produces or all that is
added to the land either intentionally or by mistake. Trade fixtures
not removed are "assessed" by the owner of the property.
◉ Accretion.
Answer: Refers to land which is accumulated by the gradual washing
or motion of water
◉ Accrued.
,Answer: An accumulation
◉ Acknowledgement.
Answer: A formal declaration made by the grantor conveying the
property to the grantee - a necessary element for validity of a deed.
◉ Acre.
Answer: A measure of land equal to 43,560 square feet
◉ Action to quiet Title.
Answer: The lawsuit filed by a person to remove or clear the claims
against property.
◉ Actual Notice.
Answer: The actual knowledge that a person has about the existence
of a particular fact.
◉ Ad Valorem.
Answer: A prefix meaning "based on value". Most local governments
levy this type of tax on property.
◉ Adverse Possession.
,Answer: A method of acquiring original title to property by open,
notorious, and hostile possession for a statutory period of time; also
referred to as prescription. POACH
◉ Agency.
Answer: A relationship in which one party (the principle) authorizes
another party (the agent) the act as the principle's representative in
dealing with third parties
◉ Agent.
Answer: One who acts for and in place of a principle for the purpose
of affecting the principle's legal relations with third persons.
◉ Air rights.
Answer: The eight to use, control and occupy the space above a
particular parcel of land
◉ Alienation Clause.
Answer: A provision in a mortgage requiring full payment of the
debt upon the transfer of the title to the property, due on sale.
Prevents loan assumptions.
◉ Allodial.
, Answer: The free and full ownership of rights in land by individuals,
which is the basis of real property in the united states
◉ Amortization.
Answer: The repayment of a financial obligation over a period of
time in a series of periodic installments. In a level-payment
mortgage, this is the portion of the debt service that reduces the
principle.
◉ Amortized Loan.
Answer: A financial debt that is paid off over a period of time by a
series of periodic payments. A loan can be fully amortized of
partially amortized requiring a balloon payment to satisfy the debt
at the end of the term.
◉ Annual Percentage Rate (APR).
Answer: The yearly cost of credit. interest rate plus finance charge.
◉ Appraisal.
Answer: An opinion or estimate of value performed by a person
licensed to do so.
◉ Appreciation.
Answer: An increase in Value
