1|Page: 2024/2025 Grade A+
PSI Real Estate Exam Questions and Correct
Answers & Latest Updated
Broker
o :## Individual licensed to charge the public for real estate services
Broker-Salesperson
o :## Fully qualified broker who remains under another broker's services
Bureau of Subdivided Land Sales Control
o :## State agency that approves and registers some out-of- state property
Continuing education
o :## Classes required for license renewal
Guaranty Fund
o :## Reimburses people defrauded or badly served by licensees in real estate transactions
New Jersey real estate commission
o :## Administrator do real estate licenses
Real Estate licensing act
o :## Law governing the practice of real estate in New Jersey
Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update
,2|Page: 2024/2025 Grade A+
Real estate full disclosure act
o :## Regulations covering out-of-state properties sold in New Jersey
REALTOR r
o :## Member of a private real estate trade organization
REALTOR - ASSOCIATE r
o :## Salesperson who joins a particular real estate trade group
Referral agent
o :## Licensee limited to presenting a presenting prospective clients and customers to the
broker
Referral fee
o :## Money paid another broker for sending a client or customer
Salesperson
o :## One licenses to a broker in a real estate transaction
Title 11 , Chapter 5
o :## State rule and regulations for real estate licensees
Branch office
o :## Broker additional place of business
Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update
,3|Page: 2024/2025 Grade A+
Commingling
o :## Mixing of brokers money with that of others
Duplicate original
o :## Copy of real estate contract with original signatures
Escrow account
o :## Place for money's belonging to clients and customers
Guilty knowledge
o :## Awareness of wrongdoing with no attempt to stop it
Probation
o :## Least severe discipline by the Real Estate Commission
Revocation
o :## Cancellation of a real estate license
Suspention
o :## Temporary lifting of a real estate license
Trust account
o :## Another name for escrow account
Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update
, 4|Page: 2024/2025 Grade A+
Waiver of Broker Cooperation
o :## Form sellers must sign for an office-exclusive listing
Agent
o :## One authorized to act for another
Antitrust Laws
o :## Regulation prohibiting price fixing
Attorney-in-fact
o :## Person authorized to act under a power of attorney
Broker
o :## One authorized to act for another in a real estate transaction
Buyers broker
o :## Agent who takes a buyer as a principal
Client
o :## Principal who engages an agent
Commission
o :## Brokers usual compensation
Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update
PSI Real Estate Exam Questions and Correct
Answers & Latest Updated
Broker
o :## Individual licensed to charge the public for real estate services
Broker-Salesperson
o :## Fully qualified broker who remains under another broker's services
Bureau of Subdivided Land Sales Control
o :## State agency that approves and registers some out-of- state property
Continuing education
o :## Classes required for license renewal
Guaranty Fund
o :## Reimburses people defrauded or badly served by licensees in real estate transactions
New Jersey real estate commission
o :## Administrator do real estate licenses
Real Estate licensing act
o :## Law governing the practice of real estate in New Jersey
Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update
,2|Page: 2024/2025 Grade A+
Real estate full disclosure act
o :## Regulations covering out-of-state properties sold in New Jersey
REALTOR r
o :## Member of a private real estate trade organization
REALTOR - ASSOCIATE r
o :## Salesperson who joins a particular real estate trade group
Referral agent
o :## Licensee limited to presenting a presenting prospective clients and customers to the
broker
Referral fee
o :## Money paid another broker for sending a client or customer
Salesperson
o :## One licenses to a broker in a real estate transaction
Title 11 , Chapter 5
o :## State rule and regulations for real estate licensees
Branch office
o :## Broker additional place of business
Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update
,3|Page: 2024/2025 Grade A+
Commingling
o :## Mixing of brokers money with that of others
Duplicate original
o :## Copy of real estate contract with original signatures
Escrow account
o :## Place for money's belonging to clients and customers
Guilty knowledge
o :## Awareness of wrongdoing with no attempt to stop it
Probation
o :## Least severe discipline by the Real Estate Commission
Revocation
o :## Cancellation of a real estate license
Suspention
o :## Temporary lifting of a real estate license
Trust account
o :## Another name for escrow account
Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update
, 4|Page: 2024/2025 Grade A+
Waiver of Broker Cooperation
o :## Form sellers must sign for an office-exclusive listing
Agent
o :## One authorized to act for another
Antitrust Laws
o :## Regulation prohibiting price fixing
Attorney-in-fact
o :## Person authorized to act under a power of attorney
Broker
o :## One authorized to act for another in a real estate transaction
Buyers broker
o :## Agent who takes a buyer as a principal
Client
o :## Principal who engages an agent
Commission
o :## Brokers usual compensation
Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update
