PSI NATIONAL REAL ESTATE EXAM |ACTUAL
QUESTIONS AND VERIFIED ANSWERS|BRAND NEW
2026-2027 UPDATE|GRADED A+
Question #1 of 80
Question ID: 1425562
Which statement is TRUE?
A)
The general warranty deed from the seller to the buyer guarantees good title.
B)
Trade fixtures and land convey via a deed, while all personal property transfers through a bill
of sale.
C)
All personal property and fixtures are transferred through a bill of sale.
D)
Fixtures must be excluded if the seller is not conveying them, while personal property must
be included for the buyer to receive it.
CORRECT ANSWER
D)
Fixtures must be excluded if the seller is not conveying them, while personal property
must be included for the buyer to receive it.
Question #2 of 80
Question ID: 1425620
How does a seller's market affect rents?
A)
It does not affect rents.
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,B)
It lowers rents.
C)
It raises rents.
D)
It only raises sales prices.
CORRECT ANSWER
C)
It raises rents.
Question #3 of 80
Question ID: 1425631
A buyer has defaulted on her loan and has not made a payment in six months. The clause
in a deed of trust or mortgage permitting the lender to declare the entire unpaid balance
immediately due and payable in this situation is the
A)
forfeiture clause.
B)
acceleration clause.
C)
escalator clause.
D)
judgment clause.
CORRECT ANSWER
B)
acceleration clause.
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,Question #4 of 80
Question ID: 1425624
A historic property was being appraised. There were no comps available, and the property
generated no income. The owner instructed the appraiser to calculate the cost to build an
exact replica of the improvements. The appraiser used the ____ approach and estimated
the cost to build the building new with the ______ method.
A)
cost; reproduction cost
B)
cost; replacement cost
C)
sales comparison; reproduction cost
D)
market data; replacement cost
CORRECT ANSWER
A)
cost; reproduction cost
Question #5 of 80
Question ID: 1425579
The title company for the buyer recorded the warranty deed for a recent purchase. This
recording has the legal effect of
A)
providing constructive notice.
B)
guaranteeing marketable title.
C)
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, passing title to the grantee.
D)
giving actual notice.
CORRECT ANSWER
A)
providing constructive notice.
Question #6 of 80
Question ID: 1425586
A city discovered that one bedroom of a three-bedroom, two-bathroom home had been
built without the appropriate permits. The additional bedroom had been built over 20
years ago. Upon discovery of the unpermitted bedroom, the city
A)
exercised its power of eminent domain to tell the owner to demolish the bedroom.
B)
exercised its police power and told the owner to demolish the bedroom or bring it up to
code.
C)
did nothing because the statute of limitations had run.
D)
exercised its power of escheat and told the owner the bedroom was grandfathered in.
CORRECT ANSWER
B)
exercised its police power and told the owner to demolish the bedroom or bring it up to
code.
Question #7 of 80
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QUESTIONS AND VERIFIED ANSWERS|BRAND NEW
2026-2027 UPDATE|GRADED A+
Question #1 of 80
Question ID: 1425562
Which statement is TRUE?
A)
The general warranty deed from the seller to the buyer guarantees good title.
B)
Trade fixtures and land convey via a deed, while all personal property transfers through a bill
of sale.
C)
All personal property and fixtures are transferred through a bill of sale.
D)
Fixtures must be excluded if the seller is not conveying them, while personal property must
be included for the buyer to receive it.
CORRECT ANSWER
D)
Fixtures must be excluded if the seller is not conveying them, while personal property
must be included for the buyer to receive it.
Question #2 of 80
Question ID: 1425620
How does a seller's market affect rents?
A)
It does not affect rents.
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@THE STUDY VAULT
,B)
It lowers rents.
C)
It raises rents.
D)
It only raises sales prices.
CORRECT ANSWER
C)
It raises rents.
Question #3 of 80
Question ID: 1425631
A buyer has defaulted on her loan and has not made a payment in six months. The clause
in a deed of trust or mortgage permitting the lender to declare the entire unpaid balance
immediately due and payable in this situation is the
A)
forfeiture clause.
B)
acceleration clause.
C)
escalator clause.
D)
judgment clause.
CORRECT ANSWER
B)
acceleration clause.
2
@THE STUDY VAULT
,Question #4 of 80
Question ID: 1425624
A historic property was being appraised. There were no comps available, and the property
generated no income. The owner instructed the appraiser to calculate the cost to build an
exact replica of the improvements. The appraiser used the ____ approach and estimated
the cost to build the building new with the ______ method.
A)
cost; reproduction cost
B)
cost; replacement cost
C)
sales comparison; reproduction cost
D)
market data; replacement cost
CORRECT ANSWER
A)
cost; reproduction cost
Question #5 of 80
Question ID: 1425579
The title company for the buyer recorded the warranty deed for a recent purchase. This
recording has the legal effect of
A)
providing constructive notice.
B)
guaranteeing marketable title.
C)
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, passing title to the grantee.
D)
giving actual notice.
CORRECT ANSWER
A)
providing constructive notice.
Question #6 of 80
Question ID: 1425586
A city discovered that one bedroom of a three-bedroom, two-bathroom home had been
built without the appropriate permits. The additional bedroom had been built over 20
years ago. Upon discovery of the unpermitted bedroom, the city
A)
exercised its power of eminent domain to tell the owner to demolish the bedroom.
B)
exercised its police power and told the owner to demolish the bedroom or bring it up to
code.
C)
did nothing because the statute of limitations had run.
D)
exercised its power of escheat and told the owner the bedroom was grandfathered in.
CORRECT ANSWER
B)
exercised its police power and told the owner to demolish the bedroom or bring it up to
code.
Question #7 of 80
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