PSI REAL ESTATE PRACTICE EXAM
LATEST 2026/2027 ACTUAL EXAM
QUESTIONS WITH CORRECT
ANSWERS 100% VERIFIED GRADED
A+
1.
Whilemanmagentmismshowingmamlistedmproperty,mthemsellermandmthembuyermentermintomanmor
almagreementmformthempurchasemofmthemhome.mIfmamdisputemovermthemtermsmarisesmlater,mt
hemagreementmmaymbemunenforceablembecausem-
mCORRECTmANSWERmthemagreementmdoesmnotmcomplymwithmthemStatutemofmFrauds
2. Ambrokermhasmbroughtmamready,mwilling,mandmablembuyermtomamseller.mInmMOSTmlistingmcont
racts,mthembrokermhasmearnedmhismcommissionmwhenm-
mCORRECTmANSWERmthemsellermacceptsmthemoffer
3. Tomwhatmpartymormpartiesmdoesmthembrokermowemthemfiduciarymdutymofmcare?m-
mCORRECTmANSWERmThempartymormpartiesmemployingmthembroker
4. InmMOSTmstates,mforeclosedmpropertymismsoldmthroughm-
mCORRECTmANSWERmpublicmauction
5. Ambuyermwasmnegotiatingmthempurchasemofmamhousemformhimself.mDuringmamconversationm
withmthemseller,mthemsellermagreedmtomincludemallmkitchenmappliancesminmthemsale,mandmthis
mfactmwasmincludedminmthemsalesmcontract.mInmthismsituation,mifmthemsellermtakesmthemapplia
ncesmwithmhim,mwhatmrecoursemdoesmthembuyermhave?m-
mCORRECTmANSWERmthembuyermmaymsuemsellermformspecificmperformance
6. Ambrokermandmthembuyersmhemrepresentsmaremanxiouslymawaitingmthemclosingmonmtheirmne
wmhome.mThemclosingmismscheduledminm4mdays.mThembuyersminformmthembrokermthatmtheymj
ustmreceivedmamrevisedmGoodmFaithmEstimatemandmTruthminmLendingmdisclosuremfrommtheml
, endermindicatingmthemAnnualmPercentagemRatemonmtheirmloanmhasmincreasedmbym0.3%.mBas
edmonmthemMortgagemDisclosuremImprovementmActmofm2009,mwhatmactionmshouldmthembro
kermtakeminmthismsituation?m-
mCORRECTmANSWERmconfirmmwithmthemsellersmbroker,mthemlendermandmthemclosingmentitym
thatmthemclosingmmustmbemdelayedmtomallowmformamnewmsevenmdamwaitingmperiodmbecause
mofminterestmratemrevision
7. Anmexceptionmtomtitleminsurancemcoveragemism-
mCORRECTmANSWERmdefectsmthatmclearlymappearminmthemtitlemsearch
8. ordinancesmthatmspecifymconstructionmstandardsmarem-
mCORRECTmANSWERmbuildingmcodes
9. Ifmamborrowermcanmaffordmtommakemmonthlymprincipalmandminterestmpaymentsmofm$1,000m
andmthemlendermwillmmakemam30-yearmloanmatm5-1/2%,mormam20-yearmloanmatm4-
1/2%,mwhatmismthemlargestmloanm(roundedmtomthemnearestm$100)mthismbuyermcanmafford?m(
BEmSUREmTOmUSEmTHEmAMORTIZATIONmTABLE.)m-mCORRECTmANSWERm5-
1/2%mform30yrsm=m$5.67789mperm$1000
10. $1000/$5.67789m=m$176.121764
11. $176.121764mXm$1000m=m$176,121.764m=m$176,100
12. 4-1/2%mform20yrsm=m$6.32649mperm$1000
13. $1000/$6.32649m=m$158.065531
14. $158.065531mXm$1000m=m$158,065.531m=m$158,100
15. Answer:m$176,100
16. requiringmownersmofmcontaminatedmpropertiesmtombearmcleanupmcost;mFederalmlegislationm
passedminm1980m-
mCORRECTmANSWERmComprehensivemEnvironmentalmResponsemCompensationmandmLiabil
itymActm(CERCLA)
LATEST 2026/2027 ACTUAL EXAM
QUESTIONS WITH CORRECT
ANSWERS 100% VERIFIED GRADED
A+
1.
Whilemanmagentmismshowingmamlistedmproperty,mthemsellermandmthembuyermentermintomanmor
almagreementmformthempurchasemofmthemhome.mIfmamdisputemovermthemtermsmarisesmlater,mt
hemagreementmmaymbemunenforceablembecausem-
mCORRECTmANSWERmthemagreementmdoesmnotmcomplymwithmthemStatutemofmFrauds
2. Ambrokermhasmbroughtmamready,mwilling,mandmablembuyermtomamseller.mInmMOSTmlistingmcont
racts,mthembrokermhasmearnedmhismcommissionmwhenm-
mCORRECTmANSWERmthemsellermacceptsmthemoffer
3. Tomwhatmpartymormpartiesmdoesmthembrokermowemthemfiduciarymdutymofmcare?m-
mCORRECTmANSWERmThempartymormpartiesmemployingmthembroker
4. InmMOSTmstates,mforeclosedmpropertymismsoldmthroughm-
mCORRECTmANSWERmpublicmauction
5. Ambuyermwasmnegotiatingmthempurchasemofmamhousemformhimself.mDuringmamconversationm
withmthemseller,mthemsellermagreedmtomincludemallmkitchenmappliancesminmthemsale,mandmthis
mfactmwasmincludedminmthemsalesmcontract.mInmthismsituation,mifmthemsellermtakesmthemapplia
ncesmwithmhim,mwhatmrecoursemdoesmthembuyermhave?m-
mCORRECTmANSWERmthembuyermmaymsuemsellermformspecificmperformance
6. Ambrokermandmthembuyersmhemrepresentsmaremanxiouslymawaitingmthemclosingmonmtheirmne
wmhome.mThemclosingmismscheduledminm4mdays.mThembuyersminformmthembrokermthatmtheymj
ustmreceivedmamrevisedmGoodmFaithmEstimatemandmTruthminmLendingmdisclosuremfrommtheml
, endermindicatingmthemAnnualmPercentagemRatemonmtheirmloanmhasmincreasedmbym0.3%.mBas
edmonmthemMortgagemDisclosuremImprovementmActmofm2009,mwhatmactionmshouldmthembro
kermtakeminmthismsituation?m-
mCORRECTmANSWERmconfirmmwithmthemsellersmbroker,mthemlendermandmthemclosingmentitym
thatmthemclosingmmustmbemdelayedmtomallowmformamnewmsevenmdamwaitingmperiodmbecause
mofminterestmratemrevision
7. Anmexceptionmtomtitleminsurancemcoveragemism-
mCORRECTmANSWERmdefectsmthatmclearlymappearminmthemtitlemsearch
8. ordinancesmthatmspecifymconstructionmstandardsmarem-
mCORRECTmANSWERmbuildingmcodes
9. Ifmamborrowermcanmaffordmtommakemmonthlymprincipalmandminterestmpaymentsmofm$1,000m
andmthemlendermwillmmakemam30-yearmloanmatm5-1/2%,mormam20-yearmloanmatm4-
1/2%,mwhatmismthemlargestmloanm(roundedmtomthemnearestm$100)mthismbuyermcanmafford?m(
BEmSUREmTOmUSEmTHEmAMORTIZATIONmTABLE.)m-mCORRECTmANSWERm5-
1/2%mform30yrsm=m$5.67789mperm$1000
10. $1000/$5.67789m=m$176.121764
11. $176.121764mXm$1000m=m$176,121.764m=m$176,100
12. 4-1/2%mform20yrsm=m$6.32649mperm$1000
13. $1000/$6.32649m=m$158.065531
14. $158.065531mXm$1000m=m$158,065.531m=m$158,100
15. Answer:m$176,100
16. requiringmownersmofmcontaminatedmpropertiesmtombearmcleanupmcost;mFederalmlegislationm
passedminm1980m-
mCORRECTmANSWERmComprehensivemEnvironmentalmResponsemCompensationmandmLiabil
itymActm(CERCLA)
