PSI REAL ESTATE EXAM PREP 2025/2026|QUESTIONS AND 100% CORRECT ANSWERS|LATEST UPDATE |GRADED A+

PSI REAL ESTATE EXAM PREP



Which of the seller financing option is most similar to "rent-to-own"? -
B B B B B B B B B B B



B ANSWER Contract for Deed B B




Concerning real estate, what is the purpose of police power? -
B B B B B B B B B B



B ANSWER To regulate how property should be used
B B B B B B




In the context of real estate, what is steering? -
B B B B B B B B B



ANSWER
B Influencing a potential home buyer or residential renter to purchase or rent a B B B B B B B B B B B B B



certain property based on the buyer or renter's status
B B B B B B B B




Owen and Paige are in a lease agreement. The leased premises only has one bathroom and it r
B B B B B B B B B B B B B B B B B



ecently quit functioning. Paige, the tenant, contacted Owen and requested that Owen service
B B B B B B B B B B B B B



the bathroom so that Paige may be able to use it. However, Owen refused because Owen does
B B B B B B B B B B B B B B B B



Bnot want to service the bathroom. Which of the following words describes what occurred? -
B B B B B B B B B B B B B B



B ANSWER Construction eviction B




Under a unilateral contract, who is the obligator? -
B B B B B B B B



B ANSWER The person who has an obligation for performance
B B B B B B B




Rhys is buying real property from Talia. Talia's listing states that Talia's kitchen table is part of t
B B B B B B B B B B B B B B B B B



he listing and Rhys would like to purchase the table in conjunction with the purchase of real pr
B B B B B B B B B B B B B B B B B



operty. Which of the following legal documents must be completed for the addition? -
B B B B B B B B B B B B B



B ANSWER No additional document needed
B B B




A building that is valued at $120,000 is being depreciated over 27.5 years. After 8 years, how
B B B B B B B B B B B B B B B B B



much will the building have depreciated? - ANSWER
B B B B B B B $34,909.12




1
Wicky

, How many days of non-
B B B B



payment by the mortgagor must the mortgagee allow before initiating the foreclosure process
B B B B B B B B B B B B



? - ANSWER
B B 120



The essential elements of a listing agreement are a written, express agreement, a negotiable c
B B B B B B B B B B B B B B



ommission, a specified price - ANSWER B B B B B A specific termination date
B B B




What is the name of the judicial proceeding that compiles a deceased person's assets and liabi
B B B B B B B B B B B B B B B



lities? - ANSWER B B Probate



Who is generally permitted sell a company's goodwill? - ANSWER
B B B B B B B B B A broker
B




Greg is selling their home to hilda. Hilda does not like that there is a pool in the backyard and i
B B B B B B B B B B B B B B B B B B B B



s thinking of removing it. Greg does not want this to happen because ducks from the nearby p
B B B B B B B B B B B B B B B B B



ond sometimes swim in the pool. What could greg do to preclude Hilda from removing the po
B B B B B B B B B B B B B B B B



ol? - ANSWERB B Put a restriction in the deed
B B B B B




In a finance transaction, who does not determine the conditions of closing? -
B B B B B B B B B B B B



B ANSWER A prior seller
B B




Which of the following would be a valid reason for the seller to terminate a listing? -
B B B B B B B B B B B B B B B B



B ANSWER The BIC's license was revoked
B B B B




If the sales price for a property is $100,000 and the monthly gross rental income for this prope
B B B B B B B B B B B B B B B B B



rty is $1250, what is the gross rent multiplier (GRM)? - ANSWER
B B B B B B B B B B B 80



What do you call a person for a property is $100,000 and the monthly gross rental income for t
B B B B B B B B B B B B B B B B B B



his property is - ANSWER
B B B B Transaction broker B




2
Wicky