PSI NATIONAL REAL ESTATE QUESTIONS AND ANSWERS ALREADY PASSED

PSI NATIONAL REAL ESTATE QUESTIONS AND ANSWERS ALREADY PASSED A legal description in land that includes language like "the old oak tree" or "the big rock" would be Metes and bounds As a licensee is showing a property contiguous to a lake, the licensee notices that the lake has a large amount of algae. The buyer wishes to make an offer. What should the licensee do? Encourage the buyer to have an authoritative party investigate the algae growth. All the following are protected classifications except Homosexuals As licensees usually work as independent contractors, a broker will have a contract for the independent contractor which (for federal purposes) must outline Statement that FICA (taxes) are the associates responsibility In a rescission agreement: All parties return to original position and earnest money is refunded Agent A has been working at Brokerage for 4 years. Agent has listed and sold many but desires to try industrial office sales. What is the best course of action for houses Agent A? Move license to an industrial/office company and train under them A seller is listing their $350,000 house. They state their property tax bill is $1,110 per year. What should the agent do? Verify the information with the county A home warranty will typically provide coverage for which of the following: Electrical and plumbing systems The local governments have authority to ensure that properties are being built properly. Under the authority of police power, the government can adapt and implement: Construction standards A married couple owns a property together as tenancy in entirety. Which of the following about selling a property as tenancy in entirety is true? Both spouses must sign the conveyance What statement is true about asbestos removal Encapsulation is the safest tactic An easement is The right to use another's land The amount to list a property is best determined by: Competitive Market Analysis (CMA) Interest on a security deposit Starts: The month the Property Manager receives the security deposit Racial discrimination is allowed: NEVER An agent goes door knocking in a subdivision. As part of his presentation, he makes mention of the fact that many families with children are moving into the area and that house prices are rising. He then recommends the owner should sell because he has a nice quiet subdivision of older, mature families that are quiet. Is this discrimination Yes- he is blockbusting by playing on the fears