PSI Real Estate Exam Prep 2024-2025
Questions and Answers 4.
Which bof bthe bseller bfinancing boption bis bmost bsimilar bto b"rent-to-own"? b- bANS b>>
bContract bfor bDeed
Concerning breal bestate, bwhat bis bthe bpurpose bof bpolice bpower? b- bANS b>> bTo bregulate
bhow bproperty bshould bbe bused
In bthe bcontext bof breal bestate, bwhat bis bsteering? b- bANS b>> bInfluencing ba bpotential bhome
bbuyer bor bresidential brenter bto bpurchase bor brent ba bcertain bproperty bbased bon bthe bbuyer
bor brenter's bstatus
Owen band bPaige bare bin ba blease bagreement. bThe bleased bpremises bonly bhas bone
bbathroom band bit brecently bquit bfunctioning. bPaige, bthe btenant, bcontacted bOwen band
brequested bthat bOwen bservice bthe bbathroom bso bthat bPaige bmay bbe bable bto buse bit.
bHowever, bOwen brefused bbecause bOwen bdoes bnot bwant bto bservice bthe bbathroom. bWhich
bof bthe bfollowing bwords bdescribes bwhat boccurred? b- bANS b>> bConstruction beviction
Under ba bunilateral bcontract, bwho bis bthe bobligator? b- bANS b>> bThe bperson bwho bhas ban
bobligation bfor bperformance
Rhys bis bbuying breal bproperty bfrom bTalia. bTalia's blisting bstates bthat bTalia's bkitchen btable bis
bpart bof bthe blisting band bRhys bwould blike bto bpurchase bthe btable bin bconjunction bwith bthe
bpurchase bof breal bproperty. bWhich bof bthe bfollowing blegal bdocuments bmust bbe bcompleted
bfor bthe baddition? b- bANS b>> bNo badditional bdocument bneeded
A bbuilding bthat bis bvalued bat b$120,000 bis bbeing bdepreciated bover b27.5 byears. bAfter b8
byears, bhow bmuch bwill bthe bbuilding bhave bdepreciated? b- bANS b>> b$34,909.12
How bmany bdays bof bnon-payment bby bthe bmortgagor bmust bthe bmortgagee ballow bbefore
binitiating bthe bforeclosure bprocess? b- bANS b>> b120
The bessential belements bof ba blisting bagreement bare ba bwritten, bexpress bagreement, ba
bnegotiable bcommission, ba bspecified bprice b- bANS b>> bA bspecific btermination bdate
What bis bthe bname bof bthe bjudicial bproceeding bthat bcompiles ba bdeceased bperson's bassets
band bliabilities? b- bANS b>> bProbate
Who bis bgenerally bpermitted bsell ba bcompany's bgoodwill? b- bANS b>> bA bbroker
, Greg bis bselling btheir bhome bto bhilda. bHilda bdoes bnot blike bthat bthere bis ba bpool bin bthe
bbackyard band bis bthinking bof bremoving bit. bGreg bdoes bnot bwant bthis bto bhappen bbecause
bducks bfrom bthe bnearby bpond bsometimes bswim bin bthe bpool. bWhat bcould bgreg bdo bto
bpreclude bHilda bfrom bremoving bthe bpool? b- bANS b>> bPut ba brestriction bin bthe bdeed
In ba bfinance btransaction, bwho bdoes bnot bdetermine bthe bconditions bof bclosing? b- bANS b>>
bA bprior bseller
Which bof bthe bfollowing bwould bbe ba bvalid breason bfor bthe bseller bto bterminate ba blisting?
b- bANS b>> bThe bBIC's blicense bwas brevoked
If bthe bsales bprice bfor ba bproperty bis b$100,000 band bthe bmonthly bgross brental bincome bfor
bthis bproperty bis b$1250, bwhat bis bthe bgross brent bmultiplier b(GRM)? b- bANS b>> b80
What bdo byou bcall ba bperson bfor ba bproperty bis b$100,000 band bthe bmonthly bgross brental
bincome bfor bthis bproperty bis b- bANS b>> bTransaction bbroker
A bgroup bof binvestors bseeks bto bestablish ba bhospital bin ba bnewly bexpanded bcommercial
barea bof bthe bcity. bWhich bof bthe bfollowing bmust bbe bobtained bfor ba bproperty bto bbe
bavailable bfor bits bintended buse? b- bANS b>> bA bspecial buse bpermit
What bmust ba blicensee bwho bdoes bnot bhave ba bbroker-in-charge blicense bdo? b- bANS b>>
bHang btheir blicense bunder ba bbroker-in-charge bbefore bconducting breal bestate bbusiness
Lily bowns bstock bin ba bcorporation band bleases bher bresidential bunit bfrom bthis bcorporation.
bWhat bkind bof bproperty bdoes bLily blive bin? b- bANS b>> bA bcooperative
Recently, bGabriela brented ba bproperty bto bHailey. bHailey brequired binstillation bof ba bstructural
bmodification bto baccommodate ba bdisability, band bGabriela ballowed bthe binstillation bfor
bHailey's baccommodation. bWho bhas bthe bdirect bobligation bof bcovering bthe binstillation bcost?
b- bANS b>> bHailey
In bcontractual brelationship bbetween ba bproperty bowner band ba bproperty bmanager, bwhich
btype bof bagent bdoes bthe bproperty bmanager bagree bto bbe? b- bANS b>> bGeneral bagent
In ba bagreement, ba bbuyer bpledges ba bproperty bas bcollateral bwithout bgiving bup bownership
bor bpossession, bbut bthe bagreement balso bsays bthat bthe bbuyer ballows bthe blender bto bsell
bthe bproperty bif bthe bbuyer bdefaults bon bthe bloan. bWhat bis bthis bagreement bcalled? b- bANS
b>> bHypothecation
A brental bproperty bcompany battempts bto bplace ba bcertain bclass bof bpersons bin ba bcertain
bpart bof bthe brenting bcommunity bbecause bthey bbelieve bthat btype bof brenter bwill bbe bmore
bcomfortable bthere. bWhat bis bthe brenting bcompany bdoing? b- bANS b>> bSteering
What bdoes bamortization brefer bto? b- bANS b>> bThe bact bof breducing bthe bbalance bon ba
bloan bby bpaying binstallments bover ba bset bperiod bof btime
Questions and Answers 4.
Which bof bthe bseller bfinancing boption bis bmost bsimilar bto b"rent-to-own"? b- bANS b>>
bContract bfor bDeed
Concerning breal bestate, bwhat bis bthe bpurpose bof bpolice bpower? b- bANS b>> bTo bregulate
bhow bproperty bshould bbe bused
In bthe bcontext bof breal bestate, bwhat bis bsteering? b- bANS b>> bInfluencing ba bpotential bhome
bbuyer bor bresidential brenter bto bpurchase bor brent ba bcertain bproperty bbased bon bthe bbuyer
bor brenter's bstatus
Owen band bPaige bare bin ba blease bagreement. bThe bleased bpremises bonly bhas bone
bbathroom band bit brecently bquit bfunctioning. bPaige, bthe btenant, bcontacted bOwen band
brequested bthat bOwen bservice bthe bbathroom bso bthat bPaige bmay bbe bable bto buse bit.
bHowever, bOwen brefused bbecause bOwen bdoes bnot bwant bto bservice bthe bbathroom. bWhich
bof bthe bfollowing bwords bdescribes bwhat boccurred? b- bANS b>> bConstruction beviction
Under ba bunilateral bcontract, bwho bis bthe bobligator? b- bANS b>> bThe bperson bwho bhas ban
bobligation bfor bperformance
Rhys bis bbuying breal bproperty bfrom bTalia. bTalia's blisting bstates bthat bTalia's bkitchen btable bis
bpart bof bthe blisting band bRhys bwould blike bto bpurchase bthe btable bin bconjunction bwith bthe
bpurchase bof breal bproperty. bWhich bof bthe bfollowing blegal bdocuments bmust bbe bcompleted
bfor bthe baddition? b- bANS b>> bNo badditional bdocument bneeded
A bbuilding bthat bis bvalued bat b$120,000 bis bbeing bdepreciated bover b27.5 byears. bAfter b8
byears, bhow bmuch bwill bthe bbuilding bhave bdepreciated? b- bANS b>> b$34,909.12
How bmany bdays bof bnon-payment bby bthe bmortgagor bmust bthe bmortgagee ballow bbefore
binitiating bthe bforeclosure bprocess? b- bANS b>> b120
The bessential belements bof ba blisting bagreement bare ba bwritten, bexpress bagreement, ba
bnegotiable bcommission, ba bspecified bprice b- bANS b>> bA bspecific btermination bdate
What bis bthe bname bof bthe bjudicial bproceeding bthat bcompiles ba bdeceased bperson's bassets
band bliabilities? b- bANS b>> bProbate
Who bis bgenerally bpermitted bsell ba bcompany's bgoodwill? b- bANS b>> bA bbroker
, Greg bis bselling btheir bhome bto bhilda. bHilda bdoes bnot blike bthat bthere bis ba bpool bin bthe
bbackyard band bis bthinking bof bremoving bit. bGreg bdoes bnot bwant bthis bto bhappen bbecause
bducks bfrom bthe bnearby bpond bsometimes bswim bin bthe bpool. bWhat bcould bgreg bdo bto
bpreclude bHilda bfrom bremoving bthe bpool? b- bANS b>> bPut ba brestriction bin bthe bdeed
In ba bfinance btransaction, bwho bdoes bnot bdetermine bthe bconditions bof bclosing? b- bANS b>>
bA bprior bseller
Which bof bthe bfollowing bwould bbe ba bvalid breason bfor bthe bseller bto bterminate ba blisting?
b- bANS b>> bThe bBIC's blicense bwas brevoked
If bthe bsales bprice bfor ba bproperty bis b$100,000 band bthe bmonthly bgross brental bincome bfor
bthis bproperty bis b$1250, bwhat bis bthe bgross brent bmultiplier b(GRM)? b- bANS b>> b80
What bdo byou bcall ba bperson bfor ba bproperty bis b$100,000 band bthe bmonthly bgross brental
bincome bfor bthis bproperty bis b- bANS b>> bTransaction bbroker
A bgroup bof binvestors bseeks bto bestablish ba bhospital bin ba bnewly bexpanded bcommercial
barea bof bthe bcity. bWhich bof bthe bfollowing bmust bbe bobtained bfor ba bproperty bto bbe
bavailable bfor bits bintended buse? b- bANS b>> bA bspecial buse bpermit
What bmust ba blicensee bwho bdoes bnot bhave ba bbroker-in-charge blicense bdo? b- bANS b>>
bHang btheir blicense bunder ba bbroker-in-charge bbefore bconducting breal bestate bbusiness
Lily bowns bstock bin ba bcorporation band bleases bher bresidential bunit bfrom bthis bcorporation.
bWhat bkind bof bproperty bdoes bLily blive bin? b- bANS b>> bA bcooperative
Recently, bGabriela brented ba bproperty bto bHailey. bHailey brequired binstillation bof ba bstructural
bmodification bto baccommodate ba bdisability, band bGabriela ballowed bthe binstillation bfor
bHailey's baccommodation. bWho bhas bthe bdirect bobligation bof bcovering bthe binstillation bcost?
b- bANS b>> bHailey
In bcontractual brelationship bbetween ba bproperty bowner band ba bproperty bmanager, bwhich
btype bof bagent bdoes bthe bproperty bmanager bagree bto bbe? b- bANS b>> bGeneral bagent
In ba bagreement, ba bbuyer bpledges ba bproperty bas bcollateral bwithout bgiving bup bownership
bor bpossession, bbut bthe bagreement balso bsays bthat bthe bbuyer ballows bthe blender bto bsell
bthe bproperty bif bthe bbuyer bdefaults bon bthe bloan. bWhat bis bthis bagreement bcalled? b- bANS
b>> bHypothecation
A brental bproperty bcompany battempts bto bplace ba bcertain bclass bof bpersons bin ba bcertain
bpart bof bthe brenting bcommunity bbecause bthey bbelieve bthat btype bof brenter bwill bbe bmore
bcomfortable bthere. bWhat bis bthe brenting bcompany bdoing? b- bANS b>> bSteering
What bdoes bamortization brefer bto? b- bANS b>> bThe bact bof breducing bthe bbalance bon ba
bloan bby bpaying binstallments bover ba bset bperiod bof btime
