PSI REAL ESTATE SALESPERSON Comprehensive Resource To Help You Ace 2026-2027 Exams Includes
Frequently Tested Questions With ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
A couple listed their home with a broker. After 2 months,
the seller found a buyer, and the sale closed. The seller
was not obligated to pay a commission to the broker. This
listing was MOST likely
an exclusive agency listing
1. an exclusive agency listing.
2. an exclusive right to sell listing.
3. a net listing.
4. an advance fee listing.
What critical aspect of the property inspection process
MUST licensees convey to prospective buyers?
1. Diflculty of finding competent inspectors.
2. Appropriate fee splitting between inspectors and bro-
Need for inspections to be completed within the time
kers.
stated in the contract.
3. Need for inspections to be completed within the time
stated in the contract.
4. Likelihood that the inspection will generate a list of
items sellers must repair.
An exception to title insurance coverage is
1. forged documents.
defects that clearly appear in the title search.
2. defects found in public newspapers.
3. incorrect records of marital status.
4. defects that clearly appear in the title search.
If a borrower can attord to make monthly principal and
interest payments of $1,000 and the lender will make a
30-year loan at 5-1/2%, or a 20-year loan at 4-1/2%, what
is the largest loan (rounded to the nearest $100) this $176,100
buyer can attord? (BE SURE TO USE THE AMORTIZATION
TABLE.)
1. $158,100
, PSI REAL ESTATE SALESPERSON Comprehensive Resource To Help You Ace 2026-2027 Exams Includes
Frequently Tested Questions With ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
2. $158,300
3. $175,900
4. $176,100
State laws ditter on whether a buyer is entitled to know
about
1. a suicide that occurred in the house last year.
a suicide that occurred in the house last year.
2. possible lead paint in the property.
3. the flooding of the basement every spring.
4. the fact that the sellers are getting a divorce.
Three identical homes in a neighborhood were listed at
the same time in a market where demand was constant.
According to the law of supply and demand, which would
have sold for the lowest price?
The first sold.
1. The first sold.
2. The second sold.
3. The last sold.
4. Cannot tell from the information given
A property management plan may serve ditterent pur-
poses for ditterent owners, and generally has to strike
a balance between preservation of the property's value
and generation of income. Which of the following owners
would MOST likely prefer a property manager who em-
phasizes maintenance of value over profitability? The Department of Housing and Urban Development.
1. An individual entrepreneur who owns several apart-
ment buildings.
2. The Department of Housing and Urban Development.
3. The investment division of a bank.
4. A corporate Real Estate Investment Trust.
, PSI REAL ESTATE SALESPERSON Comprehensive Resource To Help You Ace 2026-2027 Exams Includes
Frequently Tested Questions With ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
Federal Truth-in-Lending laws are also known as
1. the Freedom of Information Act.
2. the Equal Credit Opportunity Act. Regulation Z.
3. Regulation Z.
4. Title VIII.
The FHA functions MOST like
1. a bank or savings and loan association.
an insurance company.
2. a mortgage company.
3. an investment group.
4. an insurance company.
In the sale of property, there is often confusion over
whether an item is a fixture or personal property. What is
the best way to avoid this confusion?
1. Apply the legal tests of a fixture. Specify questionable items of property in the written sales
2. Apply local court decisions dealing with similar items. contract.
3. Specify questionable items of property in the written
sales contract.
4. Use the legal definition of a fixture as any permanently
attached item.
A salesperson in a branch oflce is sued for damages by
a buyer after the salesperson misrepresents a property.
Who has the ultimate responsibility for the salesperson's
actions?
the supervising broker
1. the owner of the property
2. the supervising broker
3. the branch manager
4. the salesperson
Frequently Tested Questions With ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
A couple listed their home with a broker. After 2 months,
the seller found a buyer, and the sale closed. The seller
was not obligated to pay a commission to the broker. This
listing was MOST likely
an exclusive agency listing
1. an exclusive agency listing.
2. an exclusive right to sell listing.
3. a net listing.
4. an advance fee listing.
What critical aspect of the property inspection process
MUST licensees convey to prospective buyers?
1. Diflculty of finding competent inspectors.
2. Appropriate fee splitting between inspectors and bro-
Need for inspections to be completed within the time
kers.
stated in the contract.
3. Need for inspections to be completed within the time
stated in the contract.
4. Likelihood that the inspection will generate a list of
items sellers must repair.
An exception to title insurance coverage is
1. forged documents.
defects that clearly appear in the title search.
2. defects found in public newspapers.
3. incorrect records of marital status.
4. defects that clearly appear in the title search.
If a borrower can attord to make monthly principal and
interest payments of $1,000 and the lender will make a
30-year loan at 5-1/2%, or a 20-year loan at 4-1/2%, what
is the largest loan (rounded to the nearest $100) this $176,100
buyer can attord? (BE SURE TO USE THE AMORTIZATION
TABLE.)
1. $158,100
, PSI REAL ESTATE SALESPERSON Comprehensive Resource To Help You Ace 2026-2027 Exams Includes
Frequently Tested Questions With ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
2. $158,300
3. $175,900
4. $176,100
State laws ditter on whether a buyer is entitled to know
about
1. a suicide that occurred in the house last year.
a suicide that occurred in the house last year.
2. possible lead paint in the property.
3. the flooding of the basement every spring.
4. the fact that the sellers are getting a divorce.
Three identical homes in a neighborhood were listed at
the same time in a market where demand was constant.
According to the law of supply and demand, which would
have sold for the lowest price?
The first sold.
1. The first sold.
2. The second sold.
3. The last sold.
4. Cannot tell from the information given
A property management plan may serve ditterent pur-
poses for ditterent owners, and generally has to strike
a balance between preservation of the property's value
and generation of income. Which of the following owners
would MOST likely prefer a property manager who em-
phasizes maintenance of value over profitability? The Department of Housing and Urban Development.
1. An individual entrepreneur who owns several apart-
ment buildings.
2. The Department of Housing and Urban Development.
3. The investment division of a bank.
4. A corporate Real Estate Investment Trust.
, PSI REAL ESTATE SALESPERSON Comprehensive Resource To Help You Ace 2026-2027 Exams Includes
Frequently Tested Questions With ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
Federal Truth-in-Lending laws are also known as
1. the Freedom of Information Act.
2. the Equal Credit Opportunity Act. Regulation Z.
3. Regulation Z.
4. Title VIII.
The FHA functions MOST like
1. a bank or savings and loan association.
an insurance company.
2. a mortgage company.
3. an investment group.
4. an insurance company.
In the sale of property, there is often confusion over
whether an item is a fixture or personal property. What is
the best way to avoid this confusion?
1. Apply the legal tests of a fixture. Specify questionable items of property in the written sales
2. Apply local court decisions dealing with similar items. contract.
3. Specify questionable items of property in the written
sales contract.
4. Use the legal definition of a fixture as any permanently
attached item.
A salesperson in a branch oflce is sued for damages by
a buyer after the salesperson misrepresents a property.
Who has the ultimate responsibility for the salesperson's
actions?
the supervising broker
1. the owner of the property
2. the supervising broker
3. the branch manager
4. the salesperson
