1|Page
PSI National Exam For Real Estate
2026|Complete Exam Set With
Questions And Verified Answers
A prospective seller asks a salesperson to recommend a listing price for a
property. The salesperson should suggest - correct- answer-a competitive market
analysis to determine the property's value.
Two lots of the same size are sold on a street. The lot on the corner sells for
$20,000 more than the lot in the middle of the street. Which of the following
characteristics MOST likely explains the price difference? - correct- answer-Situs
An agency relationship between a property owner and a property manager is
usually created by - correct- answer-management agreement
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. On January 15, a seller paid $960 in annual property tax for the current calendar
year. A buyer is purchasing the house with the closing set for March 1. What will
be the seller's credit for the property taxes already paid if the buyer pays for the
day of closing? Use a 360-day year and a 30-day month. - correct- answer-$800
Which of the following is NOT usually prorated at closing - correct- answer-Special
tax assessments
Which of the following is usually prorated at closing? - correct- answer-1.
Homeowners association fees.
2. Property taxes.
3. Transferred homeowner's insurance.
In MOST states, foreclosed property is sold through - correct- answer-public
auction
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A commercial property lost value because a recently constructed highway moved
traffic away from the property. This is an example of - correct- answer-economic
or external obsolescence
A managing broker can be held responsible for - correct- answer-all real estate
activities of salespersons.
What is the term used for the person or organization who acts as an intermediary
for the purpose of obtaining
Financing? - correct- answer-Mortgage broker
According to the Truth-in-Lending Act, if any "trigger terms" are used in an ad, all
of the following disclosures
MUST appear in the ad - correct- answer-1. cash price or amount of the loan
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2. amount of down payment required
3. number, amount, and frequency of payments
In an exclusive right-to-sell listing, an owner lists the property for sale with how
many brokers - correct- answer-One
A seller tells the listing agent that her home was treated for termites 10 years
ago, so there are no termites now.
Before listing the property, the agent should - correct- answer-tell the seller to
disclose the termite treatment on the property disclosure
When a principal authorizes an agent to perform a particular act or transaction, it
is an example of a - correct- answer-special agency
PSI National Exam For Real Estate
2026|Complete Exam Set With
Questions And Verified Answers
A prospective seller asks a salesperson to recommend a listing price for a
property. The salesperson should suggest - correct- answer-a competitive market
analysis to determine the property's value.
Two lots of the same size are sold on a street. The lot on the corner sells for
$20,000 more than the lot in the middle of the street. Which of the following
characteristics MOST likely explains the price difference? - correct- answer-Situs
An agency relationship between a property owner and a property manager is
usually created by - correct- answer-management agreement
,2|Page
. On January 15, a seller paid $960 in annual property tax for the current calendar
year. A buyer is purchasing the house with the closing set for March 1. What will
be the seller's credit for the property taxes already paid if the buyer pays for the
day of closing? Use a 360-day year and a 30-day month. - correct- answer-$800
Which of the following is NOT usually prorated at closing - correct- answer-Special
tax assessments
Which of the following is usually prorated at closing? - correct- answer-1.
Homeowners association fees.
2. Property taxes.
3. Transferred homeowner's insurance.
In MOST states, foreclosed property is sold through - correct- answer-public
auction
,3|Page
A commercial property lost value because a recently constructed highway moved
traffic away from the property. This is an example of - correct- answer-economic
or external obsolescence
A managing broker can be held responsible for - correct- answer-all real estate
activities of salespersons.
What is the term used for the person or organization who acts as an intermediary
for the purpose of obtaining
Financing? - correct- answer-Mortgage broker
According to the Truth-in-Lending Act, if any "trigger terms" are used in an ad, all
of the following disclosures
MUST appear in the ad - correct- answer-1. cash price or amount of the loan
, 4|Page
2. amount of down payment required
3. number, amount, and frequency of payments
In an exclusive right-to-sell listing, an owner lists the property for sale with how
many brokers - correct- answer-One
A seller tells the listing agent that her home was treated for termites 10 years
ago, so there are no termites now.
Before listing the property, the agent should - correct- answer-tell the seller to
disclose the termite treatment on the property disclosure
When a principal authorizes an agent to perform a particular act or transaction, it
is an example of a - correct- answer-special agency
