4/1/25, 5:34 AM PSI National Exam for Real Estate Flashcards | Quizlet
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National PSI EXAM PRACTICE TEST PSI NATIONAL REAL ESTATE QUEST... RE Exam Prep (Practice Test Questio... Pe
50 terms 85 terms 91 terms 35
P jazmen_cowan Preview umair_syed15 Preview SM-IntheBag Preview
Terms in this set (544)
A written agreement in which a purchaser a contract
agrees to buy and a seller agrees to sell is
called
1. boycotting other brokers in the marketplace.
Antitrust laws prohibit competing brokers
2. dividing the market to restrict competition.
from all of the following
3. agreeing to set sales commissions and management rates.
When a sewer line is installed down a all current owners of real estate fronting on that road
rural road, the cost will probably be
shared by
State laws differ on whether a buyer is a suicide that occurred in the house last year.
entitled to know about
A lawsuit for inverse condemnation may a homeowner
be brought by
When is racial discrimination in the rental Under no circumstances
of rooms or apartments permitted?
The real estate broker who is listing a the number of square feet in the building
house for sale should personally verify
Real property can be converted to Severance
personal property by
Prospective buyers made an offer on a Both contracts are valid
property. The seller did NOT accept, but
made a counteroffer. The
prospective buyers signed the
counteroffer and the real estate agent
delivered their acceptance to the seller.
In the interim, the same buyers had found
another house that they liked better and
made an offer on it, which was accepted.
Which of the following is TRUE?
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, 4/1/25, 5:34 AM PSI National Exam for Real Estate Flashcards | Quizlet
Although states make specific laws prior appropriation
governing water rights and the rights in
land that borders water, most states
generally follow one of two basic
doctrines regarding water rights. In many
states, the common law doctrine of
riparian and littoral rights dictates that
water rights are automatically conveyed
with property. In others, all water rights
are controlled by the state under the
doctrine of
The purpose of requiring an earnest provide evidence of the buyer's intention to carry out the contract.
money deposit in a real estate sales
contract is to
A buyer is getting a fully amortized loan $409.20.
for $220,000. The bank will give the buyer
the loan for 15 years at 5 1/2%
or for 30 years at 6 1/2%. To the nearest
cent, what is the difference between the
monthly payments for these two loans?
(BE SURE TO USE THE AMORTIZATION
TABLE.)
A borrower has defaulted on the demand immediate payment of the entire note
mortgage. The mortgage contains an
acceleration clause. This permits the
lender to
The FHA functions MOST like an insurance company
1. They are used to buy down interest rate. discount points
2. They are a function of the marketplace.
3. They are paid by either the buyer or the
seller.
When land is conveyed to a trustee, the do whatever is permitted under the trust agreement
trustee may
A prospective buyer made an offer to the owner withdraws the counteroffer before it is accepted.
purchase a property. The owner
responded with a counteroffer. While the
buyer
was reviewing the counteroffer, the owner
received a better offer. The owner can
accept the second offer if
While an agent is showing a listed the agreement does not comply with the Statute of Frauds
property, the seller and the buyer enter
into an oral agreement for the purchase
of the home. If a dispute over the terms
arises later, the agreement may be
unenforceable because
Earnest money should be deposited into in a timely manner, according to state laws
a trust account
A deed restriction is applicable to the all owners, present and future
activities of
https://quizlet.com/298802543/psi-national-exam-for-real-estate-flash-cards/ 2/9
PSI National Exam for Real Estate Save
26 studiers today 4.6 (120 reviews) Say thanks
Students also studied
Flashcard sets Study guides
National PSI EXAM PRACTICE TEST PSI NATIONAL REAL ESTATE QUEST... RE Exam Prep (Practice Test Questio... Pe
50 terms 85 terms 91 terms 35
P jazmen_cowan Preview umair_syed15 Preview SM-IntheBag Preview
Terms in this set (544)
A written agreement in which a purchaser a contract
agrees to buy and a seller agrees to sell is
called
1. boycotting other brokers in the marketplace.
Antitrust laws prohibit competing brokers
2. dividing the market to restrict competition.
from all of the following
3. agreeing to set sales commissions and management rates.
When a sewer line is installed down a all current owners of real estate fronting on that road
rural road, the cost will probably be
shared by
State laws differ on whether a buyer is a suicide that occurred in the house last year.
entitled to know about
A lawsuit for inverse condemnation may a homeowner
be brought by
When is racial discrimination in the rental Under no circumstances
of rooms or apartments permitted?
The real estate broker who is listing a the number of square feet in the building
house for sale should personally verify
Real property can be converted to Severance
personal property by
Prospective buyers made an offer on a Both contracts are valid
property. The seller did NOT accept, but
made a counteroffer. The
prospective buyers signed the
counteroffer and the real estate agent
delivered their acceptance to the seller.
In the interim, the same buyers had found
another house that they liked better and
made an offer on it, which was accepted.
Which of the following is TRUE?
https://quizlet.com/298802543/psi-national-exam-for-real-estate-flash-cards/ 1/9
, 4/1/25, 5:34 AM PSI National Exam for Real Estate Flashcards | Quizlet
Although states make specific laws prior appropriation
governing water rights and the rights in
land that borders water, most states
generally follow one of two basic
doctrines regarding water rights. In many
states, the common law doctrine of
riparian and littoral rights dictates that
water rights are automatically conveyed
with property. In others, all water rights
are controlled by the state under the
doctrine of
The purpose of requiring an earnest provide evidence of the buyer's intention to carry out the contract.
money deposit in a real estate sales
contract is to
A buyer is getting a fully amortized loan $409.20.
for $220,000. The bank will give the buyer
the loan for 15 years at 5 1/2%
or for 30 years at 6 1/2%. To the nearest
cent, what is the difference between the
monthly payments for these two loans?
(BE SURE TO USE THE AMORTIZATION
TABLE.)
A borrower has defaulted on the demand immediate payment of the entire note
mortgage. The mortgage contains an
acceleration clause. This permits the
lender to
The FHA functions MOST like an insurance company
1. They are used to buy down interest rate. discount points
2. They are a function of the marketplace.
3. They are paid by either the buyer or the
seller.
When land is conveyed to a trustee, the do whatever is permitted under the trust agreement
trustee may
A prospective buyer made an offer to the owner withdraws the counteroffer before it is accepted.
purchase a property. The owner
responded with a counteroffer. While the
buyer
was reviewing the counteroffer, the owner
received a better offer. The owner can
accept the second offer if
While an agent is showing a listed the agreement does not comply with the Statute of Frauds
property, the seller and the buyer enter
into an oral agreement for the purchase
of the home. If a dispute over the terms
arises later, the agreement may be
unenforceable because
Earnest money should be deposited into in a timely manner, according to state laws
a trust account
A deed restriction is applicable to the all owners, present and future
activities of
https://quizlet.com/298802543/psi-national-exam-for-real-estate-flash-cards/ 2/9
