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PSI NATIONAL EXAM FOR REAL ESTATE TEST
EXAM|| 2025 ACTUAL EXAM ALL QUESTIONS
AND 100% CORRECT ANSWERS ALREADY
GRADED A+|| LATEST AND COMPLETE UPDATE
2025 WITH VERIFIED SOLUTIONS|| ASSURED
PASS!!!
A statement saying that a person signing the document has done so of his own free
will and that he is the person whose signature appears on the document is a/an -
ANSWER: acknowledgment
True or False
Information about a property that is hand delivered to an interested party would be
considered as giving actual notice. - ANSWER: True
An insurance policy which protects the lender for the amount of the loan as to
problems with the title to the property is called a - ANSWER: mortgagee's policy
A form of ownership involving several owners holding fee simple title to
individual units in a property and common ownership in the property's common
grounds is called - ANSWER: condominium
A development where different land uses are combined in one area, for example,
housing,
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recreation and businesses in one development is called a - ANSWER: Planned
Unit Development (PUD)
A business which is held by one person and is not incorporated is a - ANSWER:
sole proprietorship
True or False
A corporation is considered a legal entity. - ANSWER: True
Which type of business ownership has the disadvantage of being subject to double
taxation? - ANSWER: Corporation
A type of ownership in which the owner owns shares of stock rather than real
property is called
- ANSWER: co-operative
In which type of partnership is each partner responsible for the debts up to the
limits of his own private resources? - ANSWER: general partnership
True or False
In community property, any property acquired outside the marriage, such as an
inheritance, is called separate property. - ANSWER: True
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True or False
A corporation is managed by a board of directors. - ANSWER: True
Ownership by a husband and wife in which the husband and wife each have
separate, equal ownership in anything acquired by the marriage is called -
ANSWER: community property
Three owners own a property as joint tenants. One of the owners sells his interest
to a fourth party.
The fourth party is a - ANSWER: tenant in common
Two investors buy a building as joint tenants. One of the investors dies. Which of
the following is true as to ownership of the building? - ANSWER: The remaining
investor owns the building in severalty
A determinable fee estate is ownership with - ANSWER: conditions
Two investors own an apartment building as joint tenants. One man dies leaving
his entire estate to his two children.
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Which of the following best describes what will happen as to ownership of the
apartment building? - ANSWER: The children do not inherit the apartment
building.
Ownership along non-navigable riparian waterways is - ANSWER: to the
midpoint
A free-standing china cabinet built to fit into a corner of a dining room would be
considered - ANSWER: personal property
Ownership along navigable riparian waterways is - ANSWER: to the water's edge
A property owner owns land near a waterway with no access to the water. He
obtains permission
from the state to use the waterway under the doctrine of prior appropriation. How
does he obtain
access to the waterway? - ANSWER: he must negotiate an easement with the
owner of the waterfront property.
Mr. Baker and Mr. Adams are partners in a business which sells golf balls. Mr.
Baker owns 60% of the business and Mr. Adams holds 40%. Who must sign in
order to sell the business?
- ANSWER: both
PSI NATIONAL EXAM FOR REAL ESTATE TEST
EXAM|| 2025 ACTUAL EXAM ALL QUESTIONS
AND 100% CORRECT ANSWERS ALREADY
GRADED A+|| LATEST AND COMPLETE UPDATE
2025 WITH VERIFIED SOLUTIONS|| ASSURED
PASS!!!
A statement saying that a person signing the document has done so of his own free
will and that he is the person whose signature appears on the document is a/an -
ANSWER: acknowledgment
True or False
Information about a property that is hand delivered to an interested party would be
considered as giving actual notice. - ANSWER: True
An insurance policy which protects the lender for the amount of the loan as to
problems with the title to the property is called a - ANSWER: mortgagee's policy
A form of ownership involving several owners holding fee simple title to
individual units in a property and common ownership in the property's common
grounds is called - ANSWER: condominium
A development where different land uses are combined in one area, for example,
housing,
,2|Page
recreation and businesses in one development is called a - ANSWER: Planned
Unit Development (PUD)
A business which is held by one person and is not incorporated is a - ANSWER:
sole proprietorship
True or False
A corporation is considered a legal entity. - ANSWER: True
Which type of business ownership has the disadvantage of being subject to double
taxation? - ANSWER: Corporation
A type of ownership in which the owner owns shares of stock rather than real
property is called
- ANSWER: co-operative
In which type of partnership is each partner responsible for the debts up to the
limits of his own private resources? - ANSWER: general partnership
True or False
In community property, any property acquired outside the marriage, such as an
inheritance, is called separate property. - ANSWER: True
,3|Page
True or False
A corporation is managed by a board of directors. - ANSWER: True
Ownership by a husband and wife in which the husband and wife each have
separate, equal ownership in anything acquired by the marriage is called -
ANSWER: community property
Three owners own a property as joint tenants. One of the owners sells his interest
to a fourth party.
The fourth party is a - ANSWER: tenant in common
Two investors buy a building as joint tenants. One of the investors dies. Which of
the following is true as to ownership of the building? - ANSWER: The remaining
investor owns the building in severalty
A determinable fee estate is ownership with - ANSWER: conditions
Two investors own an apartment building as joint tenants. One man dies leaving
his entire estate to his two children.
, 4|Page
Which of the following best describes what will happen as to ownership of the
apartment building? - ANSWER: The children do not inherit the apartment
building.
Ownership along non-navigable riparian waterways is - ANSWER: to the
midpoint
A free-standing china cabinet built to fit into a corner of a dining room would be
considered - ANSWER: personal property
Ownership along navigable riparian waterways is - ANSWER: to the water's edge
A property owner owns land near a waterway with no access to the water. He
obtains permission
from the state to use the waterway under the doctrine of prior appropriation. How
does he obtain
access to the waterway? - ANSWER: he must negotiate an easement with the
owner of the waterfront property.
Mr. Baker and Mr. Adams are partners in a business which sells golf balls. Mr.
Baker owns 60% of the business and Mr. Adams holds 40%. Who must sign in
order to sell the business?
- ANSWER: both
