PSI NATIONAL REAL ESTATE ACTUAL EXAM
QUESTIONS AND ANSWERS (VERIFIED AND WELL
DETAILED ANSWERS GRADED A+) LATEST UPDATE
2025/2026
A legal description in land that includes language like "the old oak tree" or "the
big rock" would be - (ANSWER)Metes and bounds
As a licensee is showing a property contiguous to a lake, the licensee notices that
the lake has a large amount of algae. The buyer wishes to make an offer. What
should the licensee do? - (ANSWER)Encourage the buyer to have an authoritative
party investigate the algae growth.
All the following are protected classifications except - (ANSWER)Homosexuals
As licensees usually work as independent contractors, a broker will have a
contract
for the independent contractor which (for federal purposes) must outline -
(ANSWER)Statement that FICA (taxes) are the associates responsibility
In a rescission agreement: - (ANSWER)All parties return to original position and
earnest money is refunded
Agent A has been working at Brokerage for 4 years. Agent has listed and sold
many but desires to try industrial office sales. What is the best course of action
for houses Agent A? - (ANSWER)Move license to an industrial/office
, company and train under them
A seller is listing their $350,000 house. They state their property tax bill is $1,110
per year. What should the agent do? - (ANSWER)Verify the information with the
county
A home warranty will typically provide coverage for which of the following: -
(ANSWER)Electrical and plumbing systems
The local governments have authority to ensure that properties are being built
properly. Under the authority of police power, the government can adapt and
implement: - (ANSWER)Construction standards
A married couple owns a property together as tenancy in entirety. Which of the
following about selling a property as tenancy in entirety is true? - (ANSWER)Both
spouses must sign the conveyance
What statement is true about asbestos removal - (ANSWER)Encapsulation is the
safest tactic
An easement is - (ANSWER)The right to use another's land
The amount to list a property is best determined by: - (ANSWER)Competitive
Market Analysis (CMA)
QUESTIONS AND ANSWERS (VERIFIED AND WELL
DETAILED ANSWERS GRADED A+) LATEST UPDATE
2025/2026
A legal description in land that includes language like "the old oak tree" or "the
big rock" would be - (ANSWER)Metes and bounds
As a licensee is showing a property contiguous to a lake, the licensee notices that
the lake has a large amount of algae. The buyer wishes to make an offer. What
should the licensee do? - (ANSWER)Encourage the buyer to have an authoritative
party investigate the algae growth.
All the following are protected classifications except - (ANSWER)Homosexuals
As licensees usually work as independent contractors, a broker will have a
contract
for the independent contractor which (for federal purposes) must outline -
(ANSWER)Statement that FICA (taxes) are the associates responsibility
In a rescission agreement: - (ANSWER)All parties return to original position and
earnest money is refunded
Agent A has been working at Brokerage for 4 years. Agent has listed and sold
many but desires to try industrial office sales. What is the best course of action
for houses Agent A? - (ANSWER)Move license to an industrial/office
, company and train under them
A seller is listing their $350,000 house. They state their property tax bill is $1,110
per year. What should the agent do? - (ANSWER)Verify the information with the
county
A home warranty will typically provide coverage for which of the following: -
(ANSWER)Electrical and plumbing systems
The local governments have authority to ensure that properties are being built
properly. Under the authority of police power, the government can adapt and
implement: - (ANSWER)Construction standards
A married couple owns a property together as tenancy in entirety. Which of the
following about selling a property as tenancy in entirety is true? - (ANSWER)Both
spouses must sign the conveyance
What statement is true about asbestos removal - (ANSWER)Encapsulation is the
safest tactic
An easement is - (ANSWER)The right to use another's land
The amount to list a property is best determined by: - (ANSWER)Competitive
Market Analysis (CMA)
