NATIONAL PSI EXAM PRACTICE TEST (2026/2027) UPDATE|EXAM QUESTIONS WITH MULTIPLE CHOICES |VERIFIED & REVISED ANSWERS (NEW)!!!

NATIONAL PSI EXAM PRACTICE TEST
(2026/2027) UPDATE|EXAM
QUESTIONS WITH MULTIPLE
CHOICES |VERIFIED & REVISED
ANSWERS (NEW)!!!
RealmEstatemlawmgoverningmadvertisingmappliesmtomallmofmthesemEXCEPT:m

A.mInmhousemnotesmformshowing

B.mMultiplemlistingmservicem(MLS)

C.mcommunicationsmwithmconsumers

D.mSocialmMediam-mCORRECTmANSWERmA.mIn-
housemnotesmformshowingmaremnotmseenmbymconsumersmanmsomdomnotmhavemtomfollowmstatemormfe
deralmlaws.



Amcouplemaccompaniesmampropertyminspectormduringmanminspectionmofmamhousemonmwhichmtheymh
avemamcontract.mTheminspectormpointsmtomamsix-
inchmcrackmatmthemcornermofmamdiningmroommwindow.mThemcrackmismanmexamplemofm:m

A.mAmstructuralmdefectm

B.mAmpatentmDefectm

C.mamlatentmdefectm

D.manmenvironmentalmdefectm-
mCORRECTmANSWERmB.mAmpatentmdefectmismeasilymvisiblemwhenminspectingmamproperty.m(another)


mtermmformmaterial)




Anmeligiblemveteranmmademanmoffermofm$225,000mtompurchasemamhomemcontingentmuponmobtainin
gmamno-
downmpaymentmU.SmdepartmentmofmVeteransmAffairsm(VA)mguaranteedmloan.mThreemweeksmaftermt
hemoffermwasmaccepted,mthemVAmissuedmamcertificatemofmreasonablemvaluem(CRV)mformthem$222,00
0mformthemproperty.mInmthismcase,mthemveteranmmay:m

A.mwithdrawmfrommthemsalemwithmamthree-pointmpenaltym

,B.mwithdrawmfrommthemsalemonmpaymentmofmamcommissionmtomthemseller'smbrokerm

C.mpurchasemthempropertymbymmakingmam$3,000mcashmpayment

D.mseekmsecondarymfundingmformthem$3,0000m-
mCORRECTmANSWERmC.mWhenmthempurchasempricemofmampropertymismgreatermthanmthemVA-


issuedm(CRV),mthemveteranmmaympaymthemdifferenceminmcashmtompurchasemthempropertymbecausems
econdarymfinancingmismsomewhatmrestrictedmundermVAmregulations.



Generalmrealmestatempropertymtaxesmleviedmformthemoperationmofmthemgovernmentmaremcalled:m



A.mspecialmtaxes

B.madmvaloremmtaxes

C.mimprovementmtaxesm

D.mspecialmassessmentmtaxesm-mCORRECTmANSWERmB.



UndermcurrentmRegulations,mamU.S.mdepartmentmofmVeteranmAffairsm(VA)mloanmismassumablemif:m



A.mThemVAmapprovesmbothmthembuyermandmthemassumptionmagreementm

B.mthemveteranmagreesmnotmtomrequestmamreleasesmofmliabilitymformrepaymentm

C.mthemVAmapprovesmthembuyermonlym

D.mthemVAmapprovesmthemassumptionmofmthemagreementmonlym-mCORRECTmANSWERmA.m

formVAmloansmmademaftermMarchm1,m1988mthemVAmmustmapprovembothmthembuyermandmthemassum
ptionmagreementmbeforemthemloanmmaymbemassumed.



Duringmthemperiodmofmtimemaftermamrealmestatemsalesmcontractmismsigned,mbutmbeforemtitlemactually
mpasses,mthemstatusmofmthemcontractmis:




A.mexecutorym

, B.mvoidable

C.mexecuted

D.munilateralm-mCORRECTmANSWERmA.m

Amcontractmisminmexecutorymstatusmwhenmitsmtermsmofmagreementmhavemnotmyetmbeenmcarriedmout
.



Ifmtheremismamdiscrepancymbetweenmamresidentialmlotmsizemquotedminmamlistingmcontractmandmthemac
tualmlotmsize,mthemactualmlotmsizemthatmwillmprevailminmamsalesmtransactionmwillmbemfoundminm:



A.mthemMLSm

B.mthemsurveym

C.mthemlistingmcontractm

D.mthemdeedm-mCORRECTmANSWERmB.



Thembuyersmsecuredmamloanmatm75%m(LTV)mration.mTheminterestmratemwasm7.125%,mandmthemtermm
wasmform30mYears.mThemfirstmmonth'sminterestmpaymentmwasm$477.82.mWhatmwasmthemappraisedmv
aluemofmthemproperty?



A.m$103.700

B.m$80,475

C.m$107,300

D.m79,239m-mCORRECTmANSWERmC.m



$477.82x12=$5,733.84mannualminterestm

$5,733.84/7.125%=$80,475

$80,475/75%=$107,300