PSI NATIONAL REAL ESTATE ACTUAL EXAM
QUESTIONS AND ANSWERS (VERIFIED AND WELL
DETAILED ANSWERS GRADED A+) LATEST UPDATE
2025/2026
Martha was able to go to the closing and sign the paperwork to sell her mother's
property while her mother was in the hospital. How could this be possible?
1. Martha may have been named an executor of her mother's will.
2. Her mother may have had a power of attorney drawn up making Martha her
attorney in fact.
3. Martha and her mother may own the property as joint tenants, so that Martha
may sign as owner
4. Martha's mother's surgeon recommended that this be permitted to alleviate
her mother's stress and regarding this pending transaction - (ANSWER)2. Her
mother may have had a power of attorney drawn up making Martha her attorney
in fact.
Janet is the property for a 20 unit building. What steps would she take when
asked to prorate the rent if a new tenant wants to move in on the 8th day of the
month in June?
1. subtract 8 days from 365 to come up with the prorated rent per day
2. Divide the monthly rent by 30 days and multiply that number by 22
3. calculate the 22 day rental amount and add a prorated utility fee
4. advise the tenant that the first available move-in date is July 1 - (ANSWER)2.
Divide the monthly rent by 30 days and multiply that number by 22
,In a jurisdiction where the common law of agency governs real estate activities, a
broker has entered a single agency relationship with the buyer. The broker has
put together a list of properties but it was based off how much commission he
can make on this sale. What fiduciary duty did the broker violate?
1. confidentiality
2. loyalty
3. disclosure
4. caution - (ANSWER)2. loyalty
Why was asbestos often used as a construction material?
1. waterproof
2. fireproof
3. indestructible
4. cheap - (ANSWER)2. fireproof
An owner signed a contract to sell an apartment building. Just before closing, the
owner informed the buyers that she had changed her mind and would NOT sell
the property. A lawsuit filed by the buyers would be for:
1. specific performance
2. lis pendens
3. quiet title action
4. a deficiency judgement - (ANSWER)1. specific performance
, The broker has noticed that a great number of people who are buying in the
neighborhood where his listing is located speak Russian. He also noticed a Russian
grocery store right by the neighborhood that was attractive. He decides to stop
the advertising the property and started adverting the property on two different
Russian internet sites. This is:
1. Acceptable because it is not print media
2. Unacceptable due to its discriminatory nature
3. Acceptable if the advertisement includes no preferential language
4. The only appropriate way to market property in this neighborhood -
(ANSWER)3. Acceptable if the advertisement includes no preferential language
Market price is:
1. What the property sells for
2. The most probable price
3. The same as market value
4. The same as cost when used - (ANSWER)1. What the property sells for
The most listing contracts, a broker who has brought a ready, willing, and able
buyer to a seller who agrees to the terms of a sales contract:
1. earns a commission at that point
2. earns a commission even if the contingencies in the contract have not been
met.
3. does not earn commission unless the sale closes
QUESTIONS AND ANSWERS (VERIFIED AND WELL
DETAILED ANSWERS GRADED A+) LATEST UPDATE
2025/2026
Martha was able to go to the closing and sign the paperwork to sell her mother's
property while her mother was in the hospital. How could this be possible?
1. Martha may have been named an executor of her mother's will.
2. Her mother may have had a power of attorney drawn up making Martha her
attorney in fact.
3. Martha and her mother may own the property as joint tenants, so that Martha
may sign as owner
4. Martha's mother's surgeon recommended that this be permitted to alleviate
her mother's stress and regarding this pending transaction - (ANSWER)2. Her
mother may have had a power of attorney drawn up making Martha her attorney
in fact.
Janet is the property for a 20 unit building. What steps would she take when
asked to prorate the rent if a new tenant wants to move in on the 8th day of the
month in June?
1. subtract 8 days from 365 to come up with the prorated rent per day
2. Divide the monthly rent by 30 days and multiply that number by 22
3. calculate the 22 day rental amount and add a prorated utility fee
4. advise the tenant that the first available move-in date is July 1 - (ANSWER)2.
Divide the monthly rent by 30 days and multiply that number by 22
,In a jurisdiction where the common law of agency governs real estate activities, a
broker has entered a single agency relationship with the buyer. The broker has
put together a list of properties but it was based off how much commission he
can make on this sale. What fiduciary duty did the broker violate?
1. confidentiality
2. loyalty
3. disclosure
4. caution - (ANSWER)2. loyalty
Why was asbestos often used as a construction material?
1. waterproof
2. fireproof
3. indestructible
4. cheap - (ANSWER)2. fireproof
An owner signed a contract to sell an apartment building. Just before closing, the
owner informed the buyers that she had changed her mind and would NOT sell
the property. A lawsuit filed by the buyers would be for:
1. specific performance
2. lis pendens
3. quiet title action
4. a deficiency judgement - (ANSWER)1. specific performance
, The broker has noticed that a great number of people who are buying in the
neighborhood where his listing is located speak Russian. He also noticed a Russian
grocery store right by the neighborhood that was attractive. He decides to stop
the advertising the property and started adverting the property on two different
Russian internet sites. This is:
1. Acceptable because it is not print media
2. Unacceptable due to its discriminatory nature
3. Acceptable if the advertisement includes no preferential language
4. The only appropriate way to market property in this neighborhood -
(ANSWER)3. Acceptable if the advertisement includes no preferential language
Market price is:
1. What the property sells for
2. The most probable price
3. The same as market value
4. The same as cost when used - (ANSWER)1. What the property sells for
The most listing contracts, a broker who has brought a ready, willing, and able
buyer to a seller who agrees to the terms of a sales contract:
1. earns a commission at that point
2. earns a commission even if the contingencies in the contract have not been
met.
3. does not earn commission unless the sale closes
