PSI REAL ESTATE SALESPERSON STUDY
GUIDE 2026 DETAILED SOLUTION DIGEST
◉What lien attaches to a property to prevent the transfer of title
when there is a pending lawsuit that may affect the title?. Answer:
What lien attaches to a property to prevent the transfer of title when
there is a pending lawsuit that may affect the title?
◉The bundle of rights does NOT include the right of. Answer:
encroachment
◉An owner of a condominium wishes to sell her unit. When a bad
storm hit earlier in the year several units sustained wind damage to
the rooftops. The homeowners association levied an assessment of
$1,000 per unit for the roof repairs. Which statement is TRUE?.
Answer: Title cannot transfer unless the seller pays the assessment
◉Roberta wishes to build her garage two feet from her side lot line.
City code calls for all side setbacks to be at least five feet. In order to
legally proceed, Roberta needs to get. Answer: a variance
, ◉When a city creates ordinances that restrict and maintain building
standards, they are called:. Answer: building codes
◉What is market price?. Answer: A price a property actually sold for
◉The rule that says a buyer will not pay more for a property than a
comparable substitute is the rule of. Answer: substitution
◉From an investment standpoint, it is usually the best idea, based
on the theory of progression and recession, to buy the ________ house
on the block.. Answer: Least expensive
◉An appraiser has selected three comparable sales for the property
she is appraising. After making adjustments, she has adjusted sale
prices of $100,000, $107,000, and $110,000. How does she reconcile
these three different numbers?. Answer: use a weighted average,
giving the most weight to the most similar property
◉Which term best describes value being attributed to a property
because of its desirable location?. Answer: situs
◉site. Answer: a piece of land that has been enhanced and is ready
for a structure
GUIDE 2026 DETAILED SOLUTION DIGEST
◉What lien attaches to a property to prevent the transfer of title
when there is a pending lawsuit that may affect the title?. Answer:
What lien attaches to a property to prevent the transfer of title when
there is a pending lawsuit that may affect the title?
◉The bundle of rights does NOT include the right of. Answer:
encroachment
◉An owner of a condominium wishes to sell her unit. When a bad
storm hit earlier in the year several units sustained wind damage to
the rooftops. The homeowners association levied an assessment of
$1,000 per unit for the roof repairs. Which statement is TRUE?.
Answer: Title cannot transfer unless the seller pays the assessment
◉Roberta wishes to build her garage two feet from her side lot line.
City code calls for all side setbacks to be at least five feet. In order to
legally proceed, Roberta needs to get. Answer: a variance
, ◉When a city creates ordinances that restrict and maintain building
standards, they are called:. Answer: building codes
◉What is market price?. Answer: A price a property actually sold for
◉The rule that says a buyer will not pay more for a property than a
comparable substitute is the rule of. Answer: substitution
◉From an investment standpoint, it is usually the best idea, based
on the theory of progression and recession, to buy the ________ house
on the block.. Answer: Least expensive
◉An appraiser has selected three comparable sales for the property
she is appraising. After making adjustments, she has adjusted sale
prices of $100,000, $107,000, and $110,000. How does she reconcile
these three different numbers?. Answer: use a weighted average,
giving the most weight to the most similar property
◉Which term best describes value being attributed to a property
because of its desirable location?. Answer: situs
◉site. Answer: a piece of land that has been enhanced and is ready
for a structure
