8/26/25, 10:21 PM PSI NJ Real Estate Exam, PSI Practice Test, PSI Practice Test Exam Questions & Answers, Well Elaborated | Already Verified Tes…
PSI NJ Real Estate Exam, PSI Practice Test, PSI
Practice Test Exam Questions & Answers, Well
Elaborated | Already Verified Test |100% Verified
solutions | 2025\2026 Latest!!
Save
Terms in this set (136)
The terms "littoral," water rights
"riparian," and
"appropriative" refer to...
A salesperson lists a an agent to the broker and a subagent to the
property with a contract principal.
that allows for subagency
and dual agency. The
salesperson is
Depreciation is calculated Cost of the building only.
based on the
When a property owner mortgagor
uses his home as collateral
for a loan and creates a
lien in favor of the lender,
title is held by the
A competitive market setting a listing price
analysis is MOST often
used for
https://quizlet.com/1068684552/psi-nj-real-estate-exam-psi-practice-test-psi-practice-test-exam-questions-answers-well-elaborated-already-verified-te… 1/33
,8/26/25, 10:21 PM PSI NJ Real Estate Exam, PSI Practice Test, PSI Practice Test Exam Questions & Answers, Well Elaborated | Already Verified Tes…
A seller tells the listing tell the seller not to disclose, because the statute of
agent that her home was limitations has run out.
treated for termites 10
years ago, so there are no
termites now. Before
listing the property, the
agent should
All of the following are straight-line method
methods to calculate the
reproduction or
replacement cost of a
building EXCEPT the
The buyer is assuming a Credit buyer $110,000; debit seller $110,000.
mortgage presently on
the property in the
amount of $110,000. What
is the adjustment made at
closing?
If conditions for purchase Return of the property to the original owner.
are included in a deed
and these conditions are
violated, what is the
penalty?
The purpose of requiring provide evidence of the buyer's intention to carry out
an earnest money deposit the contract.
in a real estate sales
contract is to
A judgment has been constructive notice
properly recorded. Any
subsequent purchasers,
whether they have actually
examined the record or
not, have been given
https://quizlet.com/1068684552/psi-nj-real-estate-exam-psi-practice-test-psi-practice-test-exam-questions-answers-well-elaborated-already-verified-te… 2/33
,8/26/25, 10:21 PM PSI NJ Real Estate Exam, PSI Practice Test, PSI Practice Test Exam Questions & Answers, Well Elaborated | Already Verified Tes…
What type of map is MOST contour map
useful for describing the
terrain of a very hilly lot?
The Department of Require the buyer to acknowledge disclosure of the
Housing and Urban presence of any known lead paint.
Development estimates
that most private homes
built before 1978 contain
potentially dangerous
levels of lead. Because of
this, some Federal
agencies, such as FHA,
At the time of listing, the tell potential buyers about the parties. (Any social
seller tells the listing agent information expressed to an agent can be shared)
they are moving because
the neighbor has loud
parties every weekend.
The agent should
A major reason for buying a condominium tends to be more affordable.
and owning a
condominium rather than a
detached single-family
home is that
https://quizlet.com/1068684552/psi-nj-real-estate-exam-psi-practice-test-psi-practice-test-exam-questions-answers-well-elaborated-already-verified-te… 3/33
, 8/26/25, 10:21 PM PSI NJ Real Estate Exam, PSI Practice Test, PSI Practice Test Exam Questions & Answers, Well Elaborated | Already Verified Tes…
A buyer was negotiating The buyer may sue the seller for specific
the purchase of a house performance.
for himself. During a
conversation with the
seller, the seller agreed to
include all kitchen
appliances in the sale, and
this fact was included in
the sales contract. In this
situation, if the seller takes
the appliances with him,
what recourse does the
buyer have?
A loan which requires the straight (term) loan (AKA term loan)
borrower to pay interest
only until the maturity date
(or due date), and then to
pay the entire principal on
the maturity date, is called
a
The real estate contract Impossibility of performance. - - (Key word:
for a specific property for Unlicensed whiskey sales operation).
use as an unlicensed
whiskey sales operation
was forced to terminate.
The termination was the
result of
A broker lists a property, a subagent of the seller. — (Think - brokerage is the
with a listing contract AGENCY, salesperson is working under the agency)
allowing subagency and
dual agency. One of the
broker's salespersons
shows the property. The
salesperson would be
classified as
https://quizlet.com/1068684552/psi-nj-real-estate-exam-psi-practice-test-psi-practice-test-exam-questions-answers-well-elaborated-already-verified-te… 4/33
PSI NJ Real Estate Exam, PSI Practice Test, PSI
Practice Test Exam Questions & Answers, Well
Elaborated | Already Verified Test |100% Verified
solutions | 2025\2026 Latest!!
Save
Terms in this set (136)
The terms "littoral," water rights
"riparian," and
"appropriative" refer to...
A salesperson lists a an agent to the broker and a subagent to the
property with a contract principal.
that allows for subagency
and dual agency. The
salesperson is
Depreciation is calculated Cost of the building only.
based on the
When a property owner mortgagor
uses his home as collateral
for a loan and creates a
lien in favor of the lender,
title is held by the
A competitive market setting a listing price
analysis is MOST often
used for
https://quizlet.com/1068684552/psi-nj-real-estate-exam-psi-practice-test-psi-practice-test-exam-questions-answers-well-elaborated-already-verified-te… 1/33
,8/26/25, 10:21 PM PSI NJ Real Estate Exam, PSI Practice Test, PSI Practice Test Exam Questions & Answers, Well Elaborated | Already Verified Tes…
A seller tells the listing tell the seller not to disclose, because the statute of
agent that her home was limitations has run out.
treated for termites 10
years ago, so there are no
termites now. Before
listing the property, the
agent should
All of the following are straight-line method
methods to calculate the
reproduction or
replacement cost of a
building EXCEPT the
The buyer is assuming a Credit buyer $110,000; debit seller $110,000.
mortgage presently on
the property in the
amount of $110,000. What
is the adjustment made at
closing?
If conditions for purchase Return of the property to the original owner.
are included in a deed
and these conditions are
violated, what is the
penalty?
The purpose of requiring provide evidence of the buyer's intention to carry out
an earnest money deposit the contract.
in a real estate sales
contract is to
A judgment has been constructive notice
properly recorded. Any
subsequent purchasers,
whether they have actually
examined the record or
not, have been given
https://quizlet.com/1068684552/psi-nj-real-estate-exam-psi-practice-test-psi-practice-test-exam-questions-answers-well-elaborated-already-verified-te… 2/33
,8/26/25, 10:21 PM PSI NJ Real Estate Exam, PSI Practice Test, PSI Practice Test Exam Questions & Answers, Well Elaborated | Already Verified Tes…
What type of map is MOST contour map
useful for describing the
terrain of a very hilly lot?
The Department of Require the buyer to acknowledge disclosure of the
Housing and Urban presence of any known lead paint.
Development estimates
that most private homes
built before 1978 contain
potentially dangerous
levels of lead. Because of
this, some Federal
agencies, such as FHA,
At the time of listing, the tell potential buyers about the parties. (Any social
seller tells the listing agent information expressed to an agent can be shared)
they are moving because
the neighbor has loud
parties every weekend.
The agent should
A major reason for buying a condominium tends to be more affordable.
and owning a
condominium rather than a
detached single-family
home is that
https://quizlet.com/1068684552/psi-nj-real-estate-exam-psi-practice-test-psi-practice-test-exam-questions-answers-well-elaborated-already-verified-te… 3/33
, 8/26/25, 10:21 PM PSI NJ Real Estate Exam, PSI Practice Test, PSI Practice Test Exam Questions & Answers, Well Elaborated | Already Verified Tes…
A buyer was negotiating The buyer may sue the seller for specific
the purchase of a house performance.
for himself. During a
conversation with the
seller, the seller agreed to
include all kitchen
appliances in the sale, and
this fact was included in
the sales contract. In this
situation, if the seller takes
the appliances with him,
what recourse does the
buyer have?
A loan which requires the straight (term) loan (AKA term loan)
borrower to pay interest
only until the maturity date
(or due date), and then to
pay the entire principal on
the maturity date, is called
a
The real estate contract Impossibility of performance. - - (Key word:
for a specific property for Unlicensed whiskey sales operation).
use as an unlicensed
whiskey sales operation
was forced to terminate.
The termination was the
result of
A broker lists a property, a subagent of the seller. — (Think - brokerage is the
with a listing contract AGENCY, salesperson is working under the agency)
allowing subagency and
dual agency. One of the
broker's salespersons
shows the property. The
salesperson would be
classified as
https://quizlet.com/1068684552/psi-nj-real-estate-exam-psi-practice-test-psi-practice-test-exam-questions-answers-well-elaborated-already-verified-te… 4/33
