PSI EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE/| latest update 2024/25|

PSI EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE/ Real estate taxes that are paid in advanced are prorated on the closing statement as. a. no entry to buyer; a credit to seller. b. no entry to buyer; a debit to seller. c. a credit to buyer; a debit to seller. d. a debit to buyer; a credit to seller. - -a debit to the buyer; credit to the seller Regulation Z requires the disclosure of which of following? A. Respa B. APR C. NAR D. CMA - -APR Two men own a parcel of land as joint tenants. One of them dies, and his will stipulates that his interest will pass to his wife and, upon her death, to hiss children. What type of estate do the children have? A. Estate in reversion B. Estate in remainder C. Life estate D. No estate - -No estate Something of value offered by one part and accepted by another as inducement to perform is called A. Acknowledgment B. Boot C. Conveyance D. Consideration - -Consideration The unities of time, title, interest and possession are directly connected with A. Tenancy in common B. Remainder interest C. Communal property D. Joint tenancy - -Joint tenancy A sellers broker must transmit to her principal A. Copies of all advertisements on the property B. All offers that are reasonable C. All written offers that are reasonable D. All written offer - -All written offers If the owners of a property sell it themselves, even though they have an exclusive agency listing with a broker, they owe the broker A. The full commission B. One-half the commission C. A commission that must be settled through arbitration D. No commission - -No commission Which of the following does NOT hold a leasehold estate? A. Tenant for years B. Life tenant C. Tenant at will D. Tenant at sufferance - -Tenant at sufferance In a sale-leaseback agreement, the A. Grantor becomes the landlord B. Grantee becomes the tenant C. Grantor becomes the lessee D. Grantor becomes the assignee - -Grantor becomes the lesse