Affiliate Broker TN National Exam Practice (PSI) exam latest update with 100% correct answers.

1. The fewer properties on the market, the greater the scarcity. What's the effect on prices? Prices are pushed upward 1. Frank owns a property on which there is walkway to the beach shared by his neighbors on either side. What is Frank's property? · Servient estate 1. Simon is looking for a facility for a large grocery distribution operation. He found two options, one of which is offering him a triple net lease, and the other an absolute net lease. Why is his attorney arguing against the latter? · An absolute net lease has no legal defenses if Simon fails to pay. 1. The Johnsons have owned a small restaurant for more than 20 years. It's open for lunch and dinner six days a week, and 80% of its weekday revenue comes from the happy hour drink and appetizer specials. The town in which their restaurant is located recently constructed a new middle school and stripped the liquor license from the Johnsons' restaurant, because it no longer complies with the ordinance to be 500 feet from a school property. The Johnsons have accused the town of _____. · Inverse condemnation 1. Local authorities lack police power over which of the following? · Federal government construction projects 1. The economic principle of ______ says that when there are two houses in the same neighborhood with the same size, appeal, and utility, the lower-priced one will tend to sell first. · Substitution 1. Which type of agent is an escrow officer? Limited agent 1. Which of these regarding the impact of the Brownfields Law is true? · The Smiths have discovered chemical contamination on the property deed to them by their late parents. The Brownfields Law may provide funds to help them clean up the site. 1. If a property's income value is $200,000 and it's earning a net operating income of $40,000, what is the cap rate? · 20% 1. A property is 330 feet long by 100 feet wide. How many square feet is the property? · 33,000 1. Picture a drawing of a section of land. Where is Township 1 located? · Upper right (NE) corner 1. Donald and Martina decided to purchase a newly built home, and their agent, Ed, recommended that they get a professional home inspection done. The couple tells Ed that they thought inspections were only for older homes. How should Ed respond to that? · Ed should remind them that every dwelling, no matter the age or size, should have a home inspection.