NATIONAL EXAM PSI PRACTICE EXAM NEwEST 2025/2026 wITh
COMPLETE QuESTIONS ANd CORRECT SOLuTIONS |ALREAdy GRAdEd
A+||BRANd NEw VERSION!
Which of the following agreements gives you the sole right to represent a buyer? - SOLuTION-
Exclusive right-to-represent agreement
Leonard is offered a loan at 5.75%. Because he plans to be in his home for several years, he
chooses to pay points up front to have the rate reduced to 5.25%. What's this an example of? -
SOLuTION-Discount points
What's the most common indicator of illegal property flipping? - SOLuTION-falsely inflated
appraisal
The economic principle that tells us that when supply goes up, price goes down is commonly
referred to as what? - SOLuTION-supply and demand
Savvy's buyer client made an offer on a property but is having second thoughts. Savvy tells her
client that she'll ask the seller's agent for an extension on the inspection period "to gather more
bids," and use that time to look at other properties to avoid losing out on the current property.
Savvy's client found a property she liked better, so they made an offer. The offer was accepted, so
Savvy contacted the first property's agent to terminate that offer. Is this wrong? - SOLuTION-Yes
she did not act honestly or act in good faith
, Which of these is an example of agency coupled with interest? - SOLuTION-A listing agent agrees
to split the commission on the sale of a property with a cooperating agent who brings the buyer to
the table.
Quad City National Bank has several REO properties on its books. Why does the bank own these
properties? - SOLuTION-The properties went through the foreclosure process and didn't sell at
auction.
Select the situation that correctly represents a true conflict of fiduciary duties. - SOLuTION-Nikki's
seller client has instructed her not to present offers that are less than the listing price. This is a
conflict of Nikki's duty of disclosure, which requires her to present all offers, and her duty of
obedience.
Kevin listed his house with you but isn't offering a cooperating agent's commission.
Ji-eun represents the buyer, Marta, and Marta's parents, Jean and Tom, are paying Ji-eun's
commission. On which of these factors is your agency relationship based? - SOLuTION-Kevin
signed a listing agreement with you.
You've just signed a listing with a new seller client. What's true about electronic delivery of written
notice or contract forms to your seller? - SOLuTION-It's legal as long as it's subsequent to
physical hard copy delivery.
Breanna signed a purchase offer stating she'd buy Kathy's home for $150,000. Kathy rejected that
offer but said she'd sell it to Breanna for $200,000. Breanna agreed to these terms, and they added
their signatures. Which of the following statements is correct? - SOLuTION-Breanna accepted the
offer Kathy made.
Sandra retired from a career in the Navy and is ready to buy her first home, a small bungalow in a
quiet neighborhood, for $169,900. Her military service gives her the benefit of Veterans Affairs
(VA) loan. What's her required down payment? - SOLuTION$2,548.50
COMPLETE QuESTIONS ANd CORRECT SOLuTIONS |ALREAdy GRAdEd
A+||BRANd NEw VERSION!
Which of the following agreements gives you the sole right to represent a buyer? - SOLuTION-
Exclusive right-to-represent agreement
Leonard is offered a loan at 5.75%. Because he plans to be in his home for several years, he
chooses to pay points up front to have the rate reduced to 5.25%. What's this an example of? -
SOLuTION-Discount points
What's the most common indicator of illegal property flipping? - SOLuTION-falsely inflated
appraisal
The economic principle that tells us that when supply goes up, price goes down is commonly
referred to as what? - SOLuTION-supply and demand
Savvy's buyer client made an offer on a property but is having second thoughts. Savvy tells her
client that she'll ask the seller's agent for an extension on the inspection period "to gather more
bids," and use that time to look at other properties to avoid losing out on the current property.
Savvy's client found a property she liked better, so they made an offer. The offer was accepted, so
Savvy contacted the first property's agent to terminate that offer. Is this wrong? - SOLuTION-Yes
she did not act honestly or act in good faith
, Which of these is an example of agency coupled with interest? - SOLuTION-A listing agent agrees
to split the commission on the sale of a property with a cooperating agent who brings the buyer to
the table.
Quad City National Bank has several REO properties on its books. Why does the bank own these
properties? - SOLuTION-The properties went through the foreclosure process and didn't sell at
auction.
Select the situation that correctly represents a true conflict of fiduciary duties. - SOLuTION-Nikki's
seller client has instructed her not to present offers that are less than the listing price. This is a
conflict of Nikki's duty of disclosure, which requires her to present all offers, and her duty of
obedience.
Kevin listed his house with you but isn't offering a cooperating agent's commission.
Ji-eun represents the buyer, Marta, and Marta's parents, Jean and Tom, are paying Ji-eun's
commission. On which of these factors is your agency relationship based? - SOLuTION-Kevin
signed a listing agreement with you.
You've just signed a listing with a new seller client. What's true about electronic delivery of written
notice or contract forms to your seller? - SOLuTION-It's legal as long as it's subsequent to
physical hard copy delivery.
Breanna signed a purchase offer stating she'd buy Kathy's home for $150,000. Kathy rejected that
offer but said she'd sell it to Breanna for $200,000. Breanna agreed to these terms, and they added
their signatures. Which of the following statements is correct? - SOLuTION-Breanna accepted the
offer Kathy made.
Sandra retired from a career in the Navy and is ready to buy her first home, a small bungalow in a
quiet neighborhood, for $169,900. Her military service gives her the benefit of Veterans Affairs
(VA) loan. What's her required down payment? - SOLuTION$2,548.50
