PSI Services LLC Real Estate Salesperson — National
2026/2027 | Real Estate Salesperson National Exam
Study Guide & Practice Questions | PSI License Exam
Prep, Property Ownership, Valuation, Financing,
Agency, Contracts & Real Estate Math
Question 1: Which of the following best describes the legal concept
of "real property"?
A. Land and all permanently attached improvements, plus the bundle of
rights associated with ownership.
B. Movable items such as furniture and appliances that are not attached to
the structure.
C. Only the physical land surface, excluding any buildings or fixtures.
D. Personal property that has been severed from the land for sale.
CORRECT ANSWER: A. Land and all permanently attached
improvements, plus the bundle of rights associated with ownership.
Rationale: Real property encompasses the land, anything permanently
attached to it (such as buildings and fixtures), and the legal rights of
ownership, including the right to use, sell, lease, and exclude others.
Question 2: A property owner sells the mineral rights to a mining
company while retaining ownership of the surface land. What has
the owner created?
A. A lien
B. A subdivision
C. A severance
D. An easement
CORRECT ANSWER: C. A severance.
Rationale: Severance occurs when a portion of the bundle of rights is
separated from the whole. Selling mineral rights while retaining surface
rights creates a severed estate where different parties own different
interests in the same physical area.
Question 3: Which of the following is considered a fixture?
A. A portable space heater
B. A built-in dishwasher
C. A decorative throw rug
D. A tenant's television
,CORRECT ANSWER: B. A built-in dishwasher.
Rationale: A fixture is personal property that has been permanently
attached to real property in a way that indicates it is intended to remain. A
built-in dishwasher is attached to the cabinetry and plumbing, making it
part of the real property.
Question 4: A buyer purchases a home and later discovers that the
previous owner removed the custom chandelier that was attached
to the dining room ceiling. What legal principle supports the
buyer's claim to the chandelier?
A. Emblements
B. Trade fixtures
C. Fixtures
D. Personal property
CORRECT ANSWER: C. Fixtures.
Rationale: A chandelier that is hardwired and attached to the ceiling is
generally considered a fixture. Fixtures are included in the sale of real
property unless specifically excluded in the contract.
Question 5: Which method of legal description uses a starting point
and follows compass directions and distances to define property
boundaries?
A. Lot and block
B. Metes and bounds
C. Rectangular survey
D. Assessor's parcel number
CORRECT ANSWER: B. Metes and bounds.
Rationale: The metes and bounds system begins at a point of beginning
(POB) and describes the property's boundaries using compass bearings,
distances, and natural or artificial monuments.
Question 6: In the rectangular survey system, a township is divided
into how many sections?
A. 16
B. 24
,C. 36
D. 64
CORRECT ANSWER: C. 36.
Rationale: A township in the rectangular survey system is a square parcel of
land measuring six miles by six miles, containing 36 square miles, each of
which is called a section.
Question 7: A property description reads "Lot 12, Block 4,
according to the plat of Sunny Acres Subdivision as recorded in
Book 5, Page 22." What type of legal description is this?
A. Metes and bounds
B. Rectangular survey
C. Lot and block
D. Monuments and courses
CORRECT ANSWER: C. Lot and block.
Rationale: The lot and block system references a recorded plat map that
identifies lots and blocks within a subdivision, providing a concise and
precise legal description.
Question 8: Which of the following is NOT a test used by courts to
determine whether an item is a fixture?
A. Method of attachment
B. Adaptation to the property
C. Purchase price of the item
D. Intention of the parties
CORRECT ANSWER: C. Purchase price of the item.
Rationale: Courts generally consider the method of attachment, the
adaptation of the item to the property's use, and the intention of the parties.
The cost of the item is not a primary legal test for fixture status.
Question 9: A farmer plants corn in a field and sells the property
before harvest. The new owner refuses to let the farmer harvest the
corn. What legal doctrine supports the farmer's right to the crop?
A. Emblements
B. Severance
, C. Accession
D. Avulsion
CORRECT ANSWER: A. Emblements.
Rationale: Emblements are crops produced by annual cultivation that are
considered personal property of the tenant farmer. When a tenancy ends
through no fault of the tenant, the tenant may re-enter to harvest the crops.
Question 10: Which government power allows a municipality to
enact zoning ordinances that restrict how property may be used?
A. Eminent domain
B. Taxation
C. Police power
D. Escheat
CORRECT ANSWER: C. Police power.
Rationale: Police power is the government's authority to regulate property
use to protect public health, safety, and welfare. Zoning ordinances are a
primary exercise of police power.
Question 11: A developer is required to dedicate a strip of land
along the front of a new subdivision for a public sidewalk. This is
an example of what?
A. An easement by prescription
B. A dedication
C. An encroachment
D. A lien
CORRECT ANSWER: B. A dedication.
Rationale: Dedication is the voluntary transfer of private land to the public
for a public purpose, such as streets, sidewalks, or parks. It often occurs as
a condition of subdivision approval.
Question 12: A property owner has allowed a neighbor to cross her
land for ten years without objection. The neighbor now claims a
legal right to continue crossing. What type of easement might the
neighbor claim?
A. Easement by necessity
B. Easement by prescription
2026/2027 | Real Estate Salesperson National Exam
Study Guide & Practice Questions | PSI License Exam
Prep, Property Ownership, Valuation, Financing,
Agency, Contracts & Real Estate Math
Question 1: Which of the following best describes the legal concept
of "real property"?
A. Land and all permanently attached improvements, plus the bundle of
rights associated with ownership.
B. Movable items such as furniture and appliances that are not attached to
the structure.
C. Only the physical land surface, excluding any buildings or fixtures.
D. Personal property that has been severed from the land for sale.
CORRECT ANSWER: A. Land and all permanently attached
improvements, plus the bundle of rights associated with ownership.
Rationale: Real property encompasses the land, anything permanently
attached to it (such as buildings and fixtures), and the legal rights of
ownership, including the right to use, sell, lease, and exclude others.
Question 2: A property owner sells the mineral rights to a mining
company while retaining ownership of the surface land. What has
the owner created?
A. A lien
B. A subdivision
C. A severance
D. An easement
CORRECT ANSWER: C. A severance.
Rationale: Severance occurs when a portion of the bundle of rights is
separated from the whole. Selling mineral rights while retaining surface
rights creates a severed estate where different parties own different
interests in the same physical area.
Question 3: Which of the following is considered a fixture?
A. A portable space heater
B. A built-in dishwasher
C. A decorative throw rug
D. A tenant's television
,CORRECT ANSWER: B. A built-in dishwasher.
Rationale: A fixture is personal property that has been permanently
attached to real property in a way that indicates it is intended to remain. A
built-in dishwasher is attached to the cabinetry and plumbing, making it
part of the real property.
Question 4: A buyer purchases a home and later discovers that the
previous owner removed the custom chandelier that was attached
to the dining room ceiling. What legal principle supports the
buyer's claim to the chandelier?
A. Emblements
B. Trade fixtures
C. Fixtures
D. Personal property
CORRECT ANSWER: C. Fixtures.
Rationale: A chandelier that is hardwired and attached to the ceiling is
generally considered a fixture. Fixtures are included in the sale of real
property unless specifically excluded in the contract.
Question 5: Which method of legal description uses a starting point
and follows compass directions and distances to define property
boundaries?
A. Lot and block
B. Metes and bounds
C. Rectangular survey
D. Assessor's parcel number
CORRECT ANSWER: B. Metes and bounds.
Rationale: The metes and bounds system begins at a point of beginning
(POB) and describes the property's boundaries using compass bearings,
distances, and natural or artificial monuments.
Question 6: In the rectangular survey system, a township is divided
into how many sections?
A. 16
B. 24
,C. 36
D. 64
CORRECT ANSWER: C. 36.
Rationale: A township in the rectangular survey system is a square parcel of
land measuring six miles by six miles, containing 36 square miles, each of
which is called a section.
Question 7: A property description reads "Lot 12, Block 4,
according to the plat of Sunny Acres Subdivision as recorded in
Book 5, Page 22." What type of legal description is this?
A. Metes and bounds
B. Rectangular survey
C. Lot and block
D. Monuments and courses
CORRECT ANSWER: C. Lot and block.
Rationale: The lot and block system references a recorded plat map that
identifies lots and blocks within a subdivision, providing a concise and
precise legal description.
Question 8: Which of the following is NOT a test used by courts to
determine whether an item is a fixture?
A. Method of attachment
B. Adaptation to the property
C. Purchase price of the item
D. Intention of the parties
CORRECT ANSWER: C. Purchase price of the item.
Rationale: Courts generally consider the method of attachment, the
adaptation of the item to the property's use, and the intention of the parties.
The cost of the item is not a primary legal test for fixture status.
Question 9: A farmer plants corn in a field and sells the property
before harvest. The new owner refuses to let the farmer harvest the
corn. What legal doctrine supports the farmer's right to the crop?
A. Emblements
B. Severance
, C. Accession
D. Avulsion
CORRECT ANSWER: A. Emblements.
Rationale: Emblements are crops produced by annual cultivation that are
considered personal property of the tenant farmer. When a tenancy ends
through no fault of the tenant, the tenant may re-enter to harvest the crops.
Question 10: Which government power allows a municipality to
enact zoning ordinances that restrict how property may be used?
A. Eminent domain
B. Taxation
C. Police power
D. Escheat
CORRECT ANSWER: C. Police power.
Rationale: Police power is the government's authority to regulate property
use to protect public health, safety, and welfare. Zoning ordinances are a
primary exercise of police power.
Question 11: A developer is required to dedicate a strip of land
along the front of a new subdivision for a public sidewalk. This is
an example of what?
A. An easement by prescription
B. A dedication
C. An encroachment
D. A lien
CORRECT ANSWER: B. A dedication.
Rationale: Dedication is the voluntary transfer of private land to the public
for a public purpose, such as streets, sidewalks, or parks. It often occurs as
a condition of subdivision approval.
Question 12: A property owner has allowed a neighbor to cross her
land for ten years without objection. The neighbor now claims a
legal right to continue crossing. What type of easement might the
neighbor claim?
A. Easement by necessity
B. Easement by prescription
