NATIONAL PSI EXAM PRACTICE TEST
|QUESTIONS & EXPERTLY VERIFIED ANSWERS.
Save
Terms in this set (50)
Real Estate law governing A. In-house notes for showing are not seen by
advertising applies to all of these consumers an so do not have to follow state or
EXCEPT: federal laws.
A. In house notes for showing
B. Multiple listing service (MLS)
C. communications with consumers
D. Social Media
A couple accompanies a property B. A patent defect is easily visible when
inspector during an inspection of a inspecting a property. (another) term for material)
house on which they have a
contract. The inspector points to a
six-inch crack at the corner of a
dining room window. The crack is an
example of :
A. A structural defect
B. A patent Defect
C. a latent defect
D. an environmental defect
,An eligible veteran made an offer C. When the purchase price of a property is
of $225,000 to purchase a home greater than the VA-issued (CRV), the veteran
contingent upon obtaining a no- may pay the difference in cash to purchase the
down payment U.S department of property because secondary financing is
Veterans Affairs (VA) guaranteed somewhat restricted under VA regulations.
loan. Three weeks after the offer
was accepted, the VA issued a
certificate of reasonable value
(CRV) for the $222,000 for the
property. In this case, the veteran
may:
A. withdraw from the sale with a
three-point penalty
B. withdraw from the sale on
payment of a commission to the
seller's broker
C. purchase the property by making
a $3,000 cash payment
D. seek secondary funding for the
$3,0000
General real estate property taxes B.
levied for the operation of the
government are called:
A. special taxes
B. ad valorem taxes
C. improvement taxes
D. special assessment taxes
, Under current Regulations, a U.S. A.
department of Veteran Affairs (VA) for VA loans made after March 1, 1988 the VA must
loan is assumable if: approve both the buyer and the assumption
agreement before the loan may be assumed.
A. The VA approves both the buyer
and the assumption agreement
B. the veteran agrees not to request
a releases of liability for repayment
C. the VA approves the buyer only
D. the VA approves the assumption
of the agreement only
During the period of time after a A.
real estate sales contract is signed, A contract is in executory status when its terms of
but before title actually passes, the agreement have not yet been carried out.
status of the contract is:
A. executory
B. voidable
C. executed
D. unilateral
If there is a discrepancy between a B.
residential lot size quoted in a
listing contract and the actual lot
size, the actual lot size that will
prevail in a sales transaction will be
found in :
A. the MLS
B. the survey
C. the listing contract
D. the deed
|QUESTIONS & EXPERTLY VERIFIED ANSWERS.
Save
Terms in this set (50)
Real Estate law governing A. In-house notes for showing are not seen by
advertising applies to all of these consumers an so do not have to follow state or
EXCEPT: federal laws.
A. In house notes for showing
B. Multiple listing service (MLS)
C. communications with consumers
D. Social Media
A couple accompanies a property B. A patent defect is easily visible when
inspector during an inspection of a inspecting a property. (another) term for material)
house on which they have a
contract. The inspector points to a
six-inch crack at the corner of a
dining room window. The crack is an
example of :
A. A structural defect
B. A patent Defect
C. a latent defect
D. an environmental defect
,An eligible veteran made an offer C. When the purchase price of a property is
of $225,000 to purchase a home greater than the VA-issued (CRV), the veteran
contingent upon obtaining a no- may pay the difference in cash to purchase the
down payment U.S department of property because secondary financing is
Veterans Affairs (VA) guaranteed somewhat restricted under VA regulations.
loan. Three weeks after the offer
was accepted, the VA issued a
certificate of reasonable value
(CRV) for the $222,000 for the
property. In this case, the veteran
may:
A. withdraw from the sale with a
three-point penalty
B. withdraw from the sale on
payment of a commission to the
seller's broker
C. purchase the property by making
a $3,000 cash payment
D. seek secondary funding for the
$3,0000
General real estate property taxes B.
levied for the operation of the
government are called:
A. special taxes
B. ad valorem taxes
C. improvement taxes
D. special assessment taxes
, Under current Regulations, a U.S. A.
department of Veteran Affairs (VA) for VA loans made after March 1, 1988 the VA must
loan is assumable if: approve both the buyer and the assumption
agreement before the loan may be assumed.
A. The VA approves both the buyer
and the assumption agreement
B. the veteran agrees not to request
a releases of liability for repayment
C. the VA approves the buyer only
D. the VA approves the assumption
of the agreement only
During the period of time after a A.
real estate sales contract is signed, A contract is in executory status when its terms of
but before title actually passes, the agreement have not yet been carried out.
status of the contract is:
A. executory
B. voidable
C. executed
D. unilateral
If there is a discrepancy between a B.
residential lot size quoted in a
listing contract and the actual lot
size, the actual lot size that will
prevail in a sales transaction will be
found in :
A. the MLS
B. the survey
C. the listing contract
D. the deed
