PSI PA REAL ESTATE STUDY EXAMS GUIDE ALL
QUESTIONS AND ANSWERS SURE A+
✔✔50. What is an example of external depreciation? - ✔✔Nearby property that suffers
from lack of maintenance and is negatively affecting the sellers property.
✔✔52. Who does a selling salesperson represent under buyer agency? - ✔✔Buyer
✔✔54. What is not an example of a real estate business violation of the antitrust laws? -
✔✔opening offices in new locations
✔✔56. Equity definition... - ✔✔the value of real estate above any debt on that property.
✔✔57. Who are the parties in a listing agreement? - ✔✔owner and listing broker.
✔✔58. All are examples of fiduciary responsibilities under a single agency listing
agreement except.. . - ✔✔negotiate lowest price.
✔✔60. Reconciliation definition... - ✔✔the process of comparing the property values
derived from different approaches to value, selecting the most suitable approach for the
particular property being appraised and coming to a final conclusion of value.
, ✔✔62. The following are typical property management operation expenses except... -
✔✔ceiling replacement
✔✔65. The following are examples of agricultural property except... - ✔✔government
owned rural land
✔✔66. Physical deterioration... - ✔✔associated with normal wear and tear.
✔✔68. Proper listing price of the property... - ✔✔based on seller
✔✔69. Exclusive Right to Sell Listing definition... - ✔✔A type of listing to list and sell real
estate property in which the seller employs one broker but that broker earns a
commission "no matter who sells the property including the owner"
✔✔70. What type of property would be most appropriate to use the cost approach
method? - ✔✔25 year old church
✔✔71. Definition of appraisal... - ✔✔supportable estimate of value
✔✔73. What is the PA law that prohibits discrimination in housing? - ✔✔PA Human
Relations Act
✔✔75. Is special price setting allowed for certain categories of people? - ✔✔No it's
illegal
✔✔77. When is the consumer notice given? - ✔✔At the first discussion of needs and
motivation.
✔✔78. What are the conditions to when an agreement of sale becomes a binding
contract? - ✔✔When the buyer accepts the offer and the seller is notified.
✔✔80. What does the C stand for in the fiduciary dities - ✔✔Care and confidentiality
✔✔81. Characteristics of sale and leaseback... - ✔✔buyer becomes lessor
✔✔83. What is a broker's obligation to a buyer without buyer agency? - ✔✔Give the
agreement of sale
✔✔84. Redlining definition... - ✔✔the unlawful practice of refusing real estate related
business services based on location of a person's real property. ie: lending institutions
or insurance companies
✔✔85. What is a way of termination a listing agreement? - ✔✔Bankruptcy Court
QUESTIONS AND ANSWERS SURE A+
✔✔50. What is an example of external depreciation? - ✔✔Nearby property that suffers
from lack of maintenance and is negatively affecting the sellers property.
✔✔52. Who does a selling salesperson represent under buyer agency? - ✔✔Buyer
✔✔54. What is not an example of a real estate business violation of the antitrust laws? -
✔✔opening offices in new locations
✔✔56. Equity definition... - ✔✔the value of real estate above any debt on that property.
✔✔57. Who are the parties in a listing agreement? - ✔✔owner and listing broker.
✔✔58. All are examples of fiduciary responsibilities under a single agency listing
agreement except.. . - ✔✔negotiate lowest price.
✔✔60. Reconciliation definition... - ✔✔the process of comparing the property values
derived from different approaches to value, selecting the most suitable approach for the
particular property being appraised and coming to a final conclusion of value.
, ✔✔62. The following are typical property management operation expenses except... -
✔✔ceiling replacement
✔✔65. The following are examples of agricultural property except... - ✔✔government
owned rural land
✔✔66. Physical deterioration... - ✔✔associated with normal wear and tear.
✔✔68. Proper listing price of the property... - ✔✔based on seller
✔✔69. Exclusive Right to Sell Listing definition... - ✔✔A type of listing to list and sell real
estate property in which the seller employs one broker but that broker earns a
commission "no matter who sells the property including the owner"
✔✔70. What type of property would be most appropriate to use the cost approach
method? - ✔✔25 year old church
✔✔71. Definition of appraisal... - ✔✔supportable estimate of value
✔✔73. What is the PA law that prohibits discrimination in housing? - ✔✔PA Human
Relations Act
✔✔75. Is special price setting allowed for certain categories of people? - ✔✔No it's
illegal
✔✔77. When is the consumer notice given? - ✔✔At the first discussion of needs and
motivation.
✔✔78. What are the conditions to when an agreement of sale becomes a binding
contract? - ✔✔When the buyer accepts the offer and the seller is notified.
✔✔80. What does the C stand for in the fiduciary dities - ✔✔Care and confidentiality
✔✔81. Characteristics of sale and leaseback... - ✔✔buyer becomes lessor
✔✔83. What is a broker's obligation to a buyer without buyer agency? - ✔✔Give the
agreement of sale
✔✔84. Redlining definition... - ✔✔the unlawful practice of refusing real estate related
business services based on location of a person's real property. ie: lending institutions
or insurance companies
✔✔85. What is a way of termination a listing agreement? - ✔✔Bankruptcy Court
