PSI STATE TN PRACTICE EXAM WITH
CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS
LATEST 2025-2026 ALREADY GRADED A+
For Federal income tax purposes, which of the following are costs of
homeownership that mag be deducted from gross income? - ANSWERS-
Mortgage loan interest, local property taxes, mortgage loan origination fees.
MOST closed real estate transactions should be reported to the IRS. REQUIRED
information includes seller name(s) and social security number(s) and -
ANSWERS-The sale price
I'm MOST states, foreclosed property is sold through - ANSWERS-Public auction
, Which of the following statements best describes the risk taken by NOT
recording a deed? - ANSWERS-A subsequent purchaser's recorded deed could
take precedence over any unrecorded instrument.
At the closing in June 15, the buyer is assuming a mortgage presently on the
property, on which the monthly interest charge is currently $609. The seller has
made the payment due on June 1. Assuming a VA mortgage, what is the
adjustment made at closing? - ANSWERS-Debit seller $300; credit buyer $300
A landlord may legally refuse to rent to a prospective tenant if the tenant -
ANSWERS-has ever been convicted of selling illegal drugs.
Earnest money should be deposited into a trust account - ANSWERS-In a timely
manner, according to state laws.
A minority couple come to a salesperson looking for a house. The salesperson
has some properties for which the couple qualify but avoids showing or
mentioning these listings. Instead, the salesperson shows only property use in a
low-priced and integrated neighborhoods. The proactive is known as -
ANSWERS-Steering
Salesperson Susan was at a local coffee shop with some agents from other
offices. The subject of commissions came up, and agents began to compare their
commission rates. Susan shoukd - ANSWERS-Advise her friends this could
constitute a violation of Sherman Antitrust Act
CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS
LATEST 2025-2026 ALREADY GRADED A+
For Federal income tax purposes, which of the following are costs of
homeownership that mag be deducted from gross income? - ANSWERS-
Mortgage loan interest, local property taxes, mortgage loan origination fees.
MOST closed real estate transactions should be reported to the IRS. REQUIRED
information includes seller name(s) and social security number(s) and -
ANSWERS-The sale price
I'm MOST states, foreclosed property is sold through - ANSWERS-Public auction
, Which of the following statements best describes the risk taken by NOT
recording a deed? - ANSWERS-A subsequent purchaser's recorded deed could
take precedence over any unrecorded instrument.
At the closing in June 15, the buyer is assuming a mortgage presently on the
property, on which the monthly interest charge is currently $609. The seller has
made the payment due on June 1. Assuming a VA mortgage, what is the
adjustment made at closing? - ANSWERS-Debit seller $300; credit buyer $300
A landlord may legally refuse to rent to a prospective tenant if the tenant -
ANSWERS-has ever been convicted of selling illegal drugs.
Earnest money should be deposited into a trust account - ANSWERS-In a timely
manner, according to state laws.
A minority couple come to a salesperson looking for a house. The salesperson
has some properties for which the couple qualify but avoids showing or
mentioning these listings. Instead, the salesperson shows only property use in a
low-priced and integrated neighborhoods. The proactive is known as -
ANSWERS-Steering
Salesperson Susan was at a local coffee shop with some agents from other
offices. The subject of commissions came up, and agents began to compare their
commission rates. Susan shoukd - ANSWERS-Advise her friends this could
constitute a violation of Sherman Antitrust Act
