Real Estate PSI Practice
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Updated 2026
,a.
When a property owner uses his home as collateral for a loan and creates a lien in favor of
the lender, title is held by the:
a. mortgagor
b. lender
c. mortgagee
d. beneficiary
b.
A buyer is getting a fully amortized loan for $220,000. The bank will give the buyer the
loan for 15 years at 5 1/2% or for 30 years at 6 1/2%. To the nearest cent, what is the
difference between the monthly payments for these two loans? (BE SURE TO USE THE
AMORTIZATION TABLE.)
a. $309.20
b. $409.20
c. $550.80
d. None of the above
d.
The FHA functions MOST like:
a. bank or savings and loan association
b. mortgage company
c. an investment group
d. an insurance company
, d.
Usury laws were enacted to protect the:
a. lender
b. broker
c. seller
d. borrower
c.
A judgment has been properly recorded. Any subsequent purchasers, whether they have
actually examined the record or not, have been given:
a.actual notice
b. prescriptive notice
c. constructive notice
d. exculpatory notice
c.
A salesperson qualified a minority couple with two children and defined their price range
as between $110,000 and $120,000 for the three-bedroom house they wanted. They asked to
look at two listings in a nonminority neighborhood. The salesperson did not show them
the properties because they were priced under $90,000 and had only two small
bedrooms. Did the salesperson act appropriately and why or why not?
a.Yes, because they were overqualified for the homes they had requested to see
b.Yes, because it is the salesperson's job to tailor the properties shown to the needs
of the buyer
c. No, because it is appropriate to show any property for which the buyer is qualified
d. No, because the presence of children requires granting occupancy if they desire it
Exam Questions Verified
and Provided with A+
Graded Answers| Latest
Updated 2026
,a.
When a property owner uses his home as collateral for a loan and creates a lien in favor of
the lender, title is held by the:
a. mortgagor
b. lender
c. mortgagee
d. beneficiary
b.
A buyer is getting a fully amortized loan for $220,000. The bank will give the buyer the
loan for 15 years at 5 1/2% or for 30 years at 6 1/2%. To the nearest cent, what is the
difference between the monthly payments for these two loans? (BE SURE TO USE THE
AMORTIZATION TABLE.)
a. $309.20
b. $409.20
c. $550.80
d. None of the above
d.
The FHA functions MOST like:
a. bank or savings and loan association
b. mortgage company
c. an investment group
d. an insurance company
, d.
Usury laws were enacted to protect the:
a. lender
b. broker
c. seller
d. borrower
c.
A judgment has been properly recorded. Any subsequent purchasers, whether they have
actually examined the record or not, have been given:
a.actual notice
b. prescriptive notice
c. constructive notice
d. exculpatory notice
c.
A salesperson qualified a minority couple with two children and defined their price range
as between $110,000 and $120,000 for the three-bedroom house they wanted. They asked to
look at two listings in a nonminority neighborhood. The salesperson did not show them
the properties because they were priced under $90,000 and had only two small
bedrooms. Did the salesperson act appropriately and why or why not?
a.Yes, because they were overqualified for the homes they had requested to see
b.Yes, because it is the salesperson's job to tailor the properties shown to the needs
of the buyer
c. No, because it is appropriate to show any property for which the buyer is qualified
d. No, because the presence of children requires granting occupancy if they desire it
