PSI NATIONAL REAL ESTATE EXAM SCRIPT
PREMIUM REVIEW SHEET TESTED
QUESTIONS AND ANSWERS
●● between a zoning ordinance and a covenant, whichever is more
restrictive, will prevail
Answer: which has more power when setting restrictions zoning
ordinance or a covenant?
●● advertisements in regards to gender
Answer: Gender-preference words are prohibited. Exceptions are made
for people who want to share an apartment or house with a roommate of
the same sex. (Female seeking female roommate )
●● option
Answer: agreement to keep open, offer to sell for specified length of
time
●● surface rights
Answer: Ownership rights in a parcel of real estate that are limited to the
surface of the property and do not include the air above it (air rights) or
the minerals below the surface (subsurface rights).
,●● Air rights
Answer: The right to use, control and occupy the space above a
particular parcel of land.
can ONLY lease NOT sell
●● appurtenances
Answer: the right of access (beach rights)
●● mineral rights
Answer: subsurface rights
●● Riparian Rights
Answer: An owner's rights that borders on or includes a small body of
water - stream, river, or lake. These rights include access to and use of
the water.
●● Littoral Rights
Answer: rights of a landowner adjacent to a lake
Remember "L" - Littoral/Lake (large body of water)
rights extend to the MHW (mean high water mark)
,●● Personal Property
Answer: chattel or personalty- movable items
●● real estate
Answer: items permanently affixed - land or building
●● when determining if item is personal property or real estate
determine this:
Answer: what was the INTENT of the owner- how is the item attached
●● crops
Answer: also known as emblements - can be removed by the seller and
considered personal property
●● Trade Fixtures
Answer: Personal property used in a business and can be removed by the
lessee when the lease terminates. - makes a living from it like a barbers
chair
●● Metes and Bounds
Answer: A method of land description which involves identifying
distances and directions (measurements return to the "point of
beginning" POB)
, ●● lots and blocks
Answer: recorded plat plan of subdivisions - street grid creates blocks
●● Allodial System
Answer: A system of land ownership in which land is held free and clear
of any rent or service due to the government; commonly contrasted to
the feudal system. Land is held under the allodial system in the United
States.
●● Emblements
Answer: Annual crops cultivated by a tenant which are treated as the
tenant's property rather than the landowner's.
●● Freehold Estate
Answer: the rights of title to land - no fixed duration of ownership -
includes life estates
●● nonfreehold estate
Answer: possessor does not own the property; possession does not last a
lifetime (ex. lease)
●● Life estate in reversion
Answer: When the life tenant dies the property reverts back to the
grantor
PREMIUM REVIEW SHEET TESTED
QUESTIONS AND ANSWERS
●● between a zoning ordinance and a covenant, whichever is more
restrictive, will prevail
Answer: which has more power when setting restrictions zoning
ordinance or a covenant?
●● advertisements in regards to gender
Answer: Gender-preference words are prohibited. Exceptions are made
for people who want to share an apartment or house with a roommate of
the same sex. (Female seeking female roommate )
●● option
Answer: agreement to keep open, offer to sell for specified length of
time
●● surface rights
Answer: Ownership rights in a parcel of real estate that are limited to the
surface of the property and do not include the air above it (air rights) or
the minerals below the surface (subsurface rights).
,●● Air rights
Answer: The right to use, control and occupy the space above a
particular parcel of land.
can ONLY lease NOT sell
●● appurtenances
Answer: the right of access (beach rights)
●● mineral rights
Answer: subsurface rights
●● Riparian Rights
Answer: An owner's rights that borders on or includes a small body of
water - stream, river, or lake. These rights include access to and use of
the water.
●● Littoral Rights
Answer: rights of a landowner adjacent to a lake
Remember "L" - Littoral/Lake (large body of water)
rights extend to the MHW (mean high water mark)
,●● Personal Property
Answer: chattel or personalty- movable items
●● real estate
Answer: items permanently affixed - land or building
●● when determining if item is personal property or real estate
determine this:
Answer: what was the INTENT of the owner- how is the item attached
●● crops
Answer: also known as emblements - can be removed by the seller and
considered personal property
●● Trade Fixtures
Answer: Personal property used in a business and can be removed by the
lessee when the lease terminates. - makes a living from it like a barbers
chair
●● Metes and Bounds
Answer: A method of land description which involves identifying
distances and directions (measurements return to the "point of
beginning" POB)
, ●● lots and blocks
Answer: recorded plat plan of subdivisions - street grid creates blocks
●● Allodial System
Answer: A system of land ownership in which land is held free and clear
of any rent or service due to the government; commonly contrasted to
the feudal system. Land is held under the allodial system in the United
States.
●● Emblements
Answer: Annual crops cultivated by a tenant which are treated as the
tenant's property rather than the landowner's.
●● Freehold Estate
Answer: the rights of title to land - no fixed duration of ownership -
includes life estates
●● nonfreehold estate
Answer: possessor does not own the property; possession does not last a
lifetime (ex. lease)
●● Life estate in reversion
Answer: When the life tenant dies the property reverts back to the
grantor
