PSI REAL ESTATE EXAM PREP 2024-
2025 All SOLVED GRADED A+.
Recently a homeowner suffered damage to their heating and cooling system due to normal
wear and tear through the years. What offers coverage for this type of property damage? -
Answer Home Warranty
Which act can a transaction broker not perform? - Answer negotiate a sales price
Which of the following forces has an impact on value? - Answer both economic and political
Which category of water is a stream? - Answer Watercourse
A building that is valued at $510000 isbeing depreciated over 39 years. After 10 years, how
much will the building have depreciated? - Answer $130,769.20
What is generally the cause of an eviction? - Answer A failure to perform under the lease
agreement
A broker discovers there is a broken stove in the kitchen. Must they disclose this? - Answer
Yes, because it is a material fact.
Mason and nicole are in a lease agreement. Recently Mason excluded Nicole, the tenant, from
the leased property. Which of the following words described what occured? - Answer Physical
eviction
A lot has a frontage of 35' and a depth of 60'. What is the area of the lot? - Answer 2100 sq ft
Which of the following is a defense against performance, and renders an obligation discharged?
- Answer Death
Evelyn and Fran are in a lease agreement; Evelyn is the tenant and Fran is the landlord. Evelyn
pays a flat fee for a leased premises and pays for utilities and property taxes. What type of lease
is this? - Answer Net Lease
, What is not considered in evaluating comps in the sales comparison approach? - Answer Sales
price that the current owner paid for the property
Which of the following best describes a contract that is made with a person under the age of
majority? - Answer Voidable
Some jurisdictions require joint tenancy to be created by the 4 unities of title. Which of the
following is not one of the unities? - Answer Propriety
Which type of agency is not valid in real estate transactions? - Answer Implied agency
What is the owner's equity in a property they purchased for $170,000 if there is a remaining
mortgage of $50,000? - Answer $120,000
In which of the following forms may a warranty for fitness be part of the sales contract of a
newly constucted home? - Answer -In a written contract
-In an orally spoken
-In a contract implied by the circumstances
A buyer purchases a house for $170,000 and it measures 40'x40'. What is the price per square
foot of the house? - Answer $106.25
What determines the quality of materials that may be used in a building that is located within a
commercially zoned area? - Answer Building codes
Clyde owns a building that has three units, and Clyde occupies one of the units. Subsequently,
Clyde discriminates against a prospective tenant who is a member of a protected class. May
Clyde do so? - Answer Yes, because the building contains four units or less and Clyde resides in
one of the units
While giving a tour to a prospective buyer, the broker says, "You will not find a better house
than this; it's the only one with a pool!" However, there are multiple properties with pools
available in the neighborhood. Which term best describes the broker's statement? - Answer
Misrepresentation
2025 All SOLVED GRADED A+.
Recently a homeowner suffered damage to their heating and cooling system due to normal
wear and tear through the years. What offers coverage for this type of property damage? -
Answer Home Warranty
Which act can a transaction broker not perform? - Answer negotiate a sales price
Which of the following forces has an impact on value? - Answer both economic and political
Which category of water is a stream? - Answer Watercourse
A building that is valued at $510000 isbeing depreciated over 39 years. After 10 years, how
much will the building have depreciated? - Answer $130,769.20
What is generally the cause of an eviction? - Answer A failure to perform under the lease
agreement
A broker discovers there is a broken stove in the kitchen. Must they disclose this? - Answer
Yes, because it is a material fact.
Mason and nicole are in a lease agreement. Recently Mason excluded Nicole, the tenant, from
the leased property. Which of the following words described what occured? - Answer Physical
eviction
A lot has a frontage of 35' and a depth of 60'. What is the area of the lot? - Answer 2100 sq ft
Which of the following is a defense against performance, and renders an obligation discharged?
- Answer Death
Evelyn and Fran are in a lease agreement; Evelyn is the tenant and Fran is the landlord. Evelyn
pays a flat fee for a leased premises and pays for utilities and property taxes. What type of lease
is this? - Answer Net Lease
, What is not considered in evaluating comps in the sales comparison approach? - Answer Sales
price that the current owner paid for the property
Which of the following best describes a contract that is made with a person under the age of
majority? - Answer Voidable
Some jurisdictions require joint tenancy to be created by the 4 unities of title. Which of the
following is not one of the unities? - Answer Propriety
Which type of agency is not valid in real estate transactions? - Answer Implied agency
What is the owner's equity in a property they purchased for $170,000 if there is a remaining
mortgage of $50,000? - Answer $120,000
In which of the following forms may a warranty for fitness be part of the sales contract of a
newly constucted home? - Answer -In a written contract
-In an orally spoken
-In a contract implied by the circumstances
A buyer purchases a house for $170,000 and it measures 40'x40'. What is the price per square
foot of the house? - Answer $106.25
What determines the quality of materials that may be used in a building that is located within a
commercially zoned area? - Answer Building codes
Clyde owns a building that has three units, and Clyde occupies one of the units. Subsequently,
Clyde discriminates against a prospective tenant who is a member of a protected class. May
Clyde do so? - Answer Yes, because the building contains four units or less and Clyde resides in
one of the units
While giving a tour to a prospective buyer, the broker says, "You will not find a better house
than this; it's the only one with a pool!" However, there are multiple properties with pools
available in the neighborhood. Which term best describes the broker's statement? - Answer
Misrepresentation
