PROPERTY SHARE INVESTIMENT ( PSI ) REAL
ESTATE FINAL EXAM QUESTIONS AND ANSWERS
2024-2025
Which of the seller financing option is most similar to "rent-to-own"?
Contract for Deed
Concerning real estate, what is the purpose of police power?
To regulate how property should be used
In the context of real estate, what is steering?
Influencing a potential home buyer or residential renter to purchase or rent a certain property based
on the buyer or renter's status
Owen and Paige are in a lease agreement. The leased premises only has one bathroom and it recently
quit functioning. Paige, the tenant, contacted Owen and requested that Owen service the bathroom so
that Paige may be able to use it. However, Owen refused because Owen does not want to service the
bathroom. Which of the following words describes what occurred?
Construction eviction
Under a unilateral contract, who is the obligator?
The person who has an obligation for performance
, Rhys is buying real property from Talia. Talia's listing states that Talia's kitchen table is part of the listing
and Rhys would like to purchase the table in conjunction with the purchase of real property. Which of
the following legal documents must be completed for the addition?
No additional document needed
A building that is valued at $120,000 is being depreciated over 27.5 years. After 8 years, how much will
the building have depreciated?
$34,909.12
How many days of non-payment by the mortgagor must the mortgagee allow before initiating the
foreclosure process?
120
The essential elements of a listing agreement are a written, express agreement, a negotiable
commission, a specified price
A specific termination date
What is the name of the judicial proceeding that compiles a deceased person's assets and liabilities?
Probate
Who is generally permitted sell a company's goodwill?
A broker
ESTATE FINAL EXAM QUESTIONS AND ANSWERS
2024-2025
Which of the seller financing option is most similar to "rent-to-own"?
Contract for Deed
Concerning real estate, what is the purpose of police power?
To regulate how property should be used
In the context of real estate, what is steering?
Influencing a potential home buyer or residential renter to purchase or rent a certain property based
on the buyer or renter's status
Owen and Paige are in a lease agreement. The leased premises only has one bathroom and it recently
quit functioning. Paige, the tenant, contacted Owen and requested that Owen service the bathroom so
that Paige may be able to use it. However, Owen refused because Owen does not want to service the
bathroom. Which of the following words describes what occurred?
Construction eviction
Under a unilateral contract, who is the obligator?
The person who has an obligation for performance
, Rhys is buying real property from Talia. Talia's listing states that Talia's kitchen table is part of the listing
and Rhys would like to purchase the table in conjunction with the purchase of real property. Which of
the following legal documents must be completed for the addition?
No additional document needed
A building that is valued at $120,000 is being depreciated over 27.5 years. After 8 years, how much will
the building have depreciated?
$34,909.12
How many days of non-payment by the mortgagor must the mortgagee allow before initiating the
foreclosure process?
120
The essential elements of a listing agreement are a written, express agreement, a negotiable
commission, a specified price
A specific termination date
What is the name of the judicial proceeding that compiles a deceased person's assets and liabilities?
Probate
Who is generally permitted sell a company's goodwill?
A broker
