PSI NATIONAL TEST EXAM WITH CORRECT
ACTUAL QUESTIONS AND CORRECTLY
WELL DEFINED ANSWERS LATEST 2025-
2026 ALREADY GRADED A+
Permanence of Investment - ANSWERS-The concept that investments in real
estate are long-term because land and buildings cannot be easily moved or
demolished.
Scarcity - ANSWERS-Refers to the limited availability of land in a specific area,
which can drive up property values.
Asbestos - ANSWERS-A naturally occurring mineral once used in building
materials that can cause serious health issues if fibers become airborne and are
inhaled.
Lead - ANSWERS-A toxic metal found in old paint, pipes, and other building
materials that can cause health problems, especially in children.
,Mold - ANSWERS-A type of fungus that can grow in damp areas of buildings,
potentially causing health problems and structural damage.
Radon - ANSWERS-A radioactive gas that can seep into homes from the ground
and pose health risks, particularly lung cancer.
Real estate licensee William is preparing a sale agreement that will include an
unusual circumstance. What's his best course of action? - ANSWERS-Consult an
attorney.
The ______ is the federal act that deals with telephone solicitation. - ANSWERS-
Telephone Consumer Protection Act
The MARIA acronym helps to identify the five tests of a fixture. Which of the
following tests refers to how and whether the item is attached to the property?
- ANSWERS-Method of annexation
refers to how and whether the item is attached to the property - ANSWERS-
method of annexation
A homeowner has converted two rooms in his home to a rental unit. What does
the "Mrs. Murphy" exemption permit him to do? - ANSWERS-Refuse to rent to a
female tenant.
, Annual property tax amount = - ANSWERS-assessed value × tax rate
Annual payment ÷ loan balance = - ANSWERS-interest rate
Which of the following is true about tie-in arrangements? - ANSWERS-theyre an
antitrust violation
Quentin brought an application before city council to build a shopping mall on
17 acres south of town that currently don't have a zoning designation. The
council referred him to the planning commission, which will review the
application in light of the city's ________. - ANSWERS-comprehensive plan
Which economic principle pertains to how a change in a property affects its
value as a whole? - ANSWERS-contribution
To make valid computations of adjustments for the sales comparison approach
to value, elements of comparison must be applied in a specific order. Which one
of these elements listed is applied last? - ANSWERS-physical characteristics
Charlie rented a single-family residence from Hal and Mary. The lease specifies
that Charlie can't conduct any type of business out of the property. Which
clause includes this prohibition? - ANSWERS-the use clause
ACTUAL QUESTIONS AND CORRECTLY
WELL DEFINED ANSWERS LATEST 2025-
2026 ALREADY GRADED A+
Permanence of Investment - ANSWERS-The concept that investments in real
estate are long-term because land and buildings cannot be easily moved or
demolished.
Scarcity - ANSWERS-Refers to the limited availability of land in a specific area,
which can drive up property values.
Asbestos - ANSWERS-A naturally occurring mineral once used in building
materials that can cause serious health issues if fibers become airborne and are
inhaled.
Lead - ANSWERS-A toxic metal found in old paint, pipes, and other building
materials that can cause health problems, especially in children.
,Mold - ANSWERS-A type of fungus that can grow in damp areas of buildings,
potentially causing health problems and structural damage.
Radon - ANSWERS-A radioactive gas that can seep into homes from the ground
and pose health risks, particularly lung cancer.
Real estate licensee William is preparing a sale agreement that will include an
unusual circumstance. What's his best course of action? - ANSWERS-Consult an
attorney.
The ______ is the federal act that deals with telephone solicitation. - ANSWERS-
Telephone Consumer Protection Act
The MARIA acronym helps to identify the five tests of a fixture. Which of the
following tests refers to how and whether the item is attached to the property?
- ANSWERS-Method of annexation
refers to how and whether the item is attached to the property - ANSWERS-
method of annexation
A homeowner has converted two rooms in his home to a rental unit. What does
the "Mrs. Murphy" exemption permit him to do? - ANSWERS-Refuse to rent to a
female tenant.
, Annual property tax amount = - ANSWERS-assessed value × tax rate
Annual payment ÷ loan balance = - ANSWERS-interest rate
Which of the following is true about tie-in arrangements? - ANSWERS-theyre an
antitrust violation
Quentin brought an application before city council to build a shopping mall on
17 acres south of town that currently don't have a zoning designation. The
council referred him to the planning commission, which will review the
application in light of the city's ________. - ANSWERS-comprehensive plan
Which economic principle pertains to how a change in a property affects its
value as a whole? - ANSWERS-contribution
To make valid computations of adjustments for the sales comparison approach
to value, elements of comparison must be applied in a specific order. Which one
of these elements listed is applied last? - ANSWERS-physical characteristics
Charlie rented a single-family residence from Hal and Mary. The lease specifies
that Charlie can't conduct any type of business out of the property. Which
clause includes this prohibition? - ANSWERS-the use clause
