National PSI Exam Post Test & PSI National Real ...
Estate: Designed for Success with Top-Tier
Questions & Expert Solutions from Esteemed
Scholars Worldwide
As part of the ethical obligations of a broker listing a property for sale and to help the seller
complete all necessary paperwork, the broker is obligated to provide the seller with a
A)
lead-based paint disclosure.
B)
seller property disclosure, completed by the broker.
C)
evaluation of highest and best use.
D)
competitive market analysis (CMA). - CORRECT ANS- -d
A broker gets a call from her past clients who tell her in confidence that they are about to go
into foreclosure and would like her to list the property and bring any offers. The broker
should
A)
tell all the brokers at her sales meeting that the sellers need to sell so they should bring any
offers.
B)
tell a buyer to bring the best offer possible and that she will try to get it accepted.
Page 1 of 25 2025/2026
,C)
tell the buyer's broker to bring in an offer under the listing price because the sellers are
motivated.
D)
advertise the property as "seller motivated, bring all offers." - CORRECT ANS- -b
A seller's agent would be obligated to share with an unrepresented customer that
A)
all information the customer shares with the agent will also become knowledge of the
agent's principal.
B)
the seller is getting a divorce and is very motivated.
C)
the property is overpriced and the buyer should offer less than the listing price.
D)
the property was the site of a murder two years ago. - CORRECT ANS- -a
Which of the following duties would NOT apply to a broker who is not an agent but is
facilitating a transaction?
A)
Submitting all offers to the seller up until closing
B)
Disclosing all material facts about the transaction to the parties
C)
Requesting the buyer attach a prequalification letter with the offer
Page 2 of 25 2025/2026
, D)
Acting as an advocate for the parties to the transaction - CORRECT ANS- -d
A seller listed her property with ABC Realty and told the listing broker she will be out of the
country for a month but has authorized her brother to sign all documents for her. In this
case
A)
the listing broker will be a special agent while the brother will be a universal agent to the
seller.
B)
the listing broker may accept offers that are equal or greater than the asking price and
match the seller's terms. The brother may accept any offer.
C)
the brother will be acting as a special agent while the listing broker will be a general agent
of the seller.
D)
both the listing broker and the brother will need to be authorized to sign documents for any
contracts to be valid. - CORRECT ANS- -a
The seller is renovating the family room but still wants the property shown. On some days,
the work creates fumes, so the seller instructs the listing broker to make sure that anyone
showing the property speaks with the seller first. The listing broker includes the following
statement in the property information: "Call before showing." A buyer's broker calls to
schedule a showing and leaves a message on the seller's phone. Upon arriving at the
property, the buyer is overcome with fumes from the project. Is the listing broker liable?
A)
Yes, because the buyer's broker did not call the listing broker
Page 3 of 25 2025/2026
Estate: Designed for Success with Top-Tier
Questions & Expert Solutions from Esteemed
Scholars Worldwide
As part of the ethical obligations of a broker listing a property for sale and to help the seller
complete all necessary paperwork, the broker is obligated to provide the seller with a
A)
lead-based paint disclosure.
B)
seller property disclosure, completed by the broker.
C)
evaluation of highest and best use.
D)
competitive market analysis (CMA). - CORRECT ANS- -d
A broker gets a call from her past clients who tell her in confidence that they are about to go
into foreclosure and would like her to list the property and bring any offers. The broker
should
A)
tell all the brokers at her sales meeting that the sellers need to sell so they should bring any
offers.
B)
tell a buyer to bring the best offer possible and that she will try to get it accepted.
Page 1 of 25 2025/2026
,C)
tell the buyer's broker to bring in an offer under the listing price because the sellers are
motivated.
D)
advertise the property as "seller motivated, bring all offers." - CORRECT ANS- -b
A seller's agent would be obligated to share with an unrepresented customer that
A)
all information the customer shares with the agent will also become knowledge of the
agent's principal.
B)
the seller is getting a divorce and is very motivated.
C)
the property is overpriced and the buyer should offer less than the listing price.
D)
the property was the site of a murder two years ago. - CORRECT ANS- -a
Which of the following duties would NOT apply to a broker who is not an agent but is
facilitating a transaction?
A)
Submitting all offers to the seller up until closing
B)
Disclosing all material facts about the transaction to the parties
C)
Requesting the buyer attach a prequalification letter with the offer
Page 2 of 25 2025/2026
, D)
Acting as an advocate for the parties to the transaction - CORRECT ANS- -d
A seller listed her property with ABC Realty and told the listing broker she will be out of the
country for a month but has authorized her brother to sign all documents for her. In this
case
A)
the listing broker will be a special agent while the brother will be a universal agent to the
seller.
B)
the listing broker may accept offers that are equal or greater than the asking price and
match the seller's terms. The brother may accept any offer.
C)
the brother will be acting as a special agent while the listing broker will be a general agent
of the seller.
D)
both the listing broker and the brother will need to be authorized to sign documents for any
contracts to be valid. - CORRECT ANS- -a
The seller is renovating the family room but still wants the property shown. On some days,
the work creates fumes, so the seller instructs the listing broker to make sure that anyone
showing the property speaks with the seller first. The listing broker includes the following
statement in the property information: "Call before showing." A buyer's broker calls to
schedule a showing and leaves a message on the seller's phone. Upon arriving at the
property, the buyer is overcome with fumes from the project. Is the listing broker liable?
A)
Yes, because the buyer's broker did not call the listing broker
Page 3 of 25 2025/2026
