PSI - Virginia Real Estate
with complete
answers(verified for
accuracy)
If a seller signs an offer made by a purchaser, the first thing the
listing agent should do is: - answer Submit the contract to the
buyer
The main north and south line in a government survey from which
townships are located is called a - answer ""principal meridian.""
If a sale fails to close because of a failure on the buyer's part, the
listing broker's commission - answer is not earned
Influencing buyers to buy in certain areas only when done on the
basis of a protected classification is known as: - answer Steering
The deed covenant that obligates the grantor to perform any acts
necessary to protect the title conveyed is called the covenant of -
answer Further Assistance
compared to physical life, economic life is usually - answer Shorter
the legal description method that uses a point of beginning and
monuments is the - answer Metes and Bounds description
if a party to a valid real estate contract becomes bankrupt while the
contract is executory, the contract: - answer Terminates
, Amortization - answer Liquidation of a debt
Which lien has the highest priority? - answer property tax lien
a seller sold his farm under a written contract of sale that made no
statements about assignment. The buyer assigned the contract of
sale to a new buyer. Until the sale is settled, the equitable title is
held by: - answer New buyer
Where two cousins hold title to property, one having 1/3 interest
and the other having 2/3 interest, title would be held in: - answer
Tenancy in common
ad valorem means - answer According to valuation.
When a mortgage is paid in full, it is said, in legal terminology, to be
- answer Satisfied
In what corner of a township would you find Section 1? - answer
Northeast corner
the lender in a mortgage instrument is called the - answer
Mortgagee
An owner conveys property to the buyer " for as long as it used as a
library" the buyer has a - answer Qualified fee estate
Which of the following is the best real estate definition of
contingency? - answer Depending on something not certain.
with complete
answers(verified for
accuracy)
If a seller signs an offer made by a purchaser, the first thing the
listing agent should do is: - answer Submit the contract to the
buyer
The main north and south line in a government survey from which
townships are located is called a - answer ""principal meridian.""
If a sale fails to close because of a failure on the buyer's part, the
listing broker's commission - answer is not earned
Influencing buyers to buy in certain areas only when done on the
basis of a protected classification is known as: - answer Steering
The deed covenant that obligates the grantor to perform any acts
necessary to protect the title conveyed is called the covenant of -
answer Further Assistance
compared to physical life, economic life is usually - answer Shorter
the legal description method that uses a point of beginning and
monuments is the - answer Metes and Bounds description
if a party to a valid real estate contract becomes bankrupt while the
contract is executory, the contract: - answer Terminates
, Amortization - answer Liquidation of a debt
Which lien has the highest priority? - answer property tax lien
a seller sold his farm under a written contract of sale that made no
statements about assignment. The buyer assigned the contract of
sale to a new buyer. Until the sale is settled, the equitable title is
held by: - answer New buyer
Where two cousins hold title to property, one having 1/3 interest
and the other having 2/3 interest, title would be held in: - answer
Tenancy in common
ad valorem means - answer According to valuation.
When a mortgage is paid in full, it is said, in legal terminology, to be
- answer Satisfied
In what corner of a township would you find Section 1? - answer
Northeast corner
the lender in a mortgage instrument is called the - answer
Mortgagee
An owner conveys property to the buyer " for as long as it used as a
library" the buyer has a - answer Qualified fee estate
Which of the following is the best real estate definition of
contingency? - answer Depending on something not certain.
