PSI PA REAL ESTATE EXAM QUESTIONS AND 100% CORRECT ANSWERS|LATEST 2025/2026|GUARANTEED A+|VERIFIED

100% CORRECT ANSWERS|LATEST

Severance - ANSWER B B the performance of turning real property into personal property
B B B B B B B B




What is the main difference between tendency in common and joint tendency is that with ten
B B B B B B B B B B B B B B B



dency in common, when a co-owner dies? -
B B B B B B B



B ANSWER the undivided interest passes to his heirs
B B B B B B




A tenant rented an apartment signing a 15 month lease. After the lease expired, the tenant pai
B B B B B B B B B B B B B B B B



d 1 month's rent and got a receipt. What kind of leasehold does this tenant have? -
B B B B B B B B B B B B B B B B



B ANSWER Tenancy at will B B




Although states make specific laws governing water rights and the rights in land that borders
B B B B B B B B B B B B B B B



water, most states generally follow one of two basic doctrines regarding water rights. Either ri
B B B B B B B B B B B B B B



parian and littoral rights are automatically conveyed with property, or all water rights are cont
B B B B B B B B B B B B B B



rolled by the state under the doctrine of? - ANSWER
B B B B B B B B B prior appropriation B




Legal description using the government survey system are not generally used in? -
B B B B B B B B B B B B



B ANSWER the original 13 states B B B




An owner hired a construction company to build a swimming pool at a new home. The owner f
B B B B B B B B B B B B B B B B B



ailed to pay the bill once the work was completed and the construction company filed a lien to
B B B B B B B B B B B B B B B B B



obtain payment of the debt. The encumbrance created is called? -
B B B B B B B B B B B



B ANSWER a mechanic's lien
B B




Building codes are? - ANSWER B B B B ordinances that specify construction standards B B B B




An environmental impact statement (IES) -
B B B B B



B ANSWER projects the impact on environment or proposed project
B B B B B B B




A lawsuit for inverse condemnation may be brought by - ANSWER
B B B B B B B B B B the homeowner
B




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, A deed restriction is applicable to the activities of? -
B B B B B B B B B



B ANSWER all owners present and future
B B B B




A land owner wishes to build a neighborhood grocery store on a busy street in an area zoned f
B B B B B B B B B B B B B B B B B B



or residential use. What would most likely be used to obtain permission for this store? -
B B B B B B B B B B B B B B B



B ANSWER Conditional use permit or zoning variance B B B B B




When preparing a market data estimate of value, what category of adjustment is NOT essentia
B B B B B B B B B B B B B B



l? - ANSWER
B B the original cost of the building
B B B B B




Depreciation is calculated based on the? - ANSWER B B B B B B B cost of the building only
B B B B




A competitive market analysis is MOST often used for? - ANSWER
B B B B B B B B B B setting a listing price B B B




A prospective seller asks a salesperson to recommend a listing price for a property. The salesp
B B B B B B B B B B B B B B B



erson should suggest? -
B B B



B ANSWER a competitive market analysis to determine the property's value
B B B B B B B B




A couple owns an older home in a neighborhood that is becoming a commercial area. Because
B B B B B B B B B B B B B B B



of the change in the use of the land, the couple can expect the value of their parcel to increas
B B B B B B B B B B B B B B B B B B B B



e at some future time. This is an example of the principle of - ANSWER
B B B B B B B B B B B B B B anticipation



A formal appraisal will ALWAYS be REQUIRED when the -
B B B B B B B B B



B ANSWER lender wants to sell the mortgage to the secondary market
B B B B B B B B B




If all other factors are equal, in which location is a parking lot likely to bring the highest sales pr
B B B B B B B B B B B B B B B B B B B



ice? - ANSWER B B Business district zoned for a six-story office building
B B B B B B B




Federal Truth-in-lending laws are also known as? - ANSWER
B B B B B B B B regulation z. B




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