PSI national real estate exam practice test 1.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/PSI%20national%2
PSI National Real Estate Exam Practice Test 1
Questions & Answers
1. All of the following would be considered real property EXCEPT
Answer a leaseholdestate
2. The servient estate in an easement appurtenant is the property
Answer on which theeasement is placed
3. Which of the following statements concerning encumbrances is NOT true-
Answer All encumbrances are liens
4. Which of the following is NOT a specific lien
Answer State inheritance taxes
5. You have entered into a lease that requires you to pay 20% of the owners
1/5
1 of 15 11/18/2024, 3:33
,PSI national real estate exam practice test 1.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/PSI%20national%2
expenses.Your lease would be an example of a
Answer net lease
6. If a husband and wife own an apartment building and the husband owns an
undivided three-fourths interest and the wife owns a one-fourth interest, what
type of tenancy exists?
Answer Tenancy in common
7. The highest form of ownership interest a person may hold in real estateis
Answer fee simple
8. Two unrelated people own a three-unit apartment building as tenants in
common. One wants to sell but the other does not which of the following
statement describes the legal rights of the party who wants to sell?
Answer The partymay request a court to partition the building
9. Your aunt died in-estate and you inherited her house,The way in which you
acquired the title to her house is by
Answer descent
2/5
2 of 15 11/18/2024, 3:33
PSI National Real Estate Exam Practice Test 1
Questions & Answers
1. All of the following would be considered real property EXCEPT
Answer a leaseholdestate
2. The servient estate in an easement appurtenant is the property
Answer on which theeasement is placed
3. Which of the following statements concerning encumbrances is NOT true-
Answer All encumbrances are liens
4. Which of the following is NOT a specific lien
Answer State inheritance taxes
5. You have entered into a lease that requires you to pay 20% of the owners
1/5
1 of 15 11/18/2024, 3:33
,PSI national real estate exam practice test 1.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/PSI%20national%2
expenses.Your lease would be an example of a
Answer net lease
6. If a husband and wife own an apartment building and the husband owns an
undivided three-fourths interest and the wife owns a one-fourth interest, what
type of tenancy exists?
Answer Tenancy in common
7. The highest form of ownership interest a person may hold in real estateis
Answer fee simple
8. Two unrelated people own a three-unit apartment building as tenants in
common. One wants to sell but the other does not which of the following
statement describes the legal rights of the party who wants to sell?
Answer The partymay request a court to partition the building
9. Your aunt died in-estate and you inherited her house,The way in which you
acquired the title to her house is by
Answer descent
2/5
2 of 15 11/18/2024, 3:33
