PSI REAL ESTATE EXAM / REAL ESTATE PSI ACTUAL
EXAM 2025/2026 ACCURATE TEST APPROVED EXAM
QUESTIONS AND CORRECT DETAILED ANSWERS (100%
CORRECT VERIFIED SOLUTIONS) A NEW UPDATED
VERSION |GUARANTEED PASS A+
The document used in a real estate sale that establishes the legal
rights of the buyer and seller is the
a. purchase contract
b. deed
c. listing agreement
d. abstract of title
answer- a.
A major reason for buying and owning a condominium rather
than a detached single-family home is that:
a. a condominium tends to be more affordable
b. a condominium requires no maintenance
c. a condominium is easier to resell
,d. condominium ownership has more tax advantages
answer- a.
A borrower has defaulted on the mortgage. The mortgage
contains an acceleration clause. This permits the lender to:
a. confiscates the borrower's personal assets
b. demand immediate payment of the entire note
c. reports the borrower to the Federal Housing Administration
d. force the borrower to vacate the premises.
Answer- b.
A seller tells the listing agent that her home was treated for
termites 10 years ago, so there are no termites now. Before
listing the property, the agent should:
a. tells the seller not to disclose, because the statute of
limitations has run out
,b. tells the seller to disclose the termite treatment on the property
disclosure
c. talk to neighbors to see if there are termites in the
neighborhood
d. talk to the planning and zoning department for local termite
eradication ordinance.
Answer- b.
A couple listed their home with a broker. After 2 months, the
seller found a buyer, and the sale closed. The seller was not
obligated to pay a commission to the broker. This listing was
MOST likely:
a. an exclusive agency listing
b. an exclusive right to sell listing
c. a net listing
d. an advance fee listing
answer- a.
, Errors and Omissions insurance covers the broker for:
a. title defects
b. intentional misrepresentations
c. unintentional misrepresentations
d. commission losses
answer- c.
Without checking the facts, a broker who is the seller's agent
tells a buyer that the property taxes in a particular neighborhood
are among the lowest in the area. The buyer relies on the
broker's statement and makes an offer on a house in the
neighborhood. Before closing, it is determined that the taxes are
actually among the highest in the area. The buyer could seek to
rescind the contract on the basis of:
a. puffing
b. misrepresentation
c. lack of care and diligence
d. nothing; property taxes are a matter of public record and it
was the buyer's responsibility to check them
answer- b.
EXAM 2025/2026 ACCURATE TEST APPROVED EXAM
QUESTIONS AND CORRECT DETAILED ANSWERS (100%
CORRECT VERIFIED SOLUTIONS) A NEW UPDATED
VERSION |GUARANTEED PASS A+
The document used in a real estate sale that establishes the legal
rights of the buyer and seller is the
a. purchase contract
b. deed
c. listing agreement
d. abstract of title
answer- a.
A major reason for buying and owning a condominium rather
than a detached single-family home is that:
a. a condominium tends to be more affordable
b. a condominium requires no maintenance
c. a condominium is easier to resell
,d. condominium ownership has more tax advantages
answer- a.
A borrower has defaulted on the mortgage. The mortgage
contains an acceleration clause. This permits the lender to:
a. confiscates the borrower's personal assets
b. demand immediate payment of the entire note
c. reports the borrower to the Federal Housing Administration
d. force the borrower to vacate the premises.
Answer- b.
A seller tells the listing agent that her home was treated for
termites 10 years ago, so there are no termites now. Before
listing the property, the agent should:
a. tells the seller not to disclose, because the statute of
limitations has run out
,b. tells the seller to disclose the termite treatment on the property
disclosure
c. talk to neighbors to see if there are termites in the
neighborhood
d. talk to the planning and zoning department for local termite
eradication ordinance.
Answer- b.
A couple listed their home with a broker. After 2 months, the
seller found a buyer, and the sale closed. The seller was not
obligated to pay a commission to the broker. This listing was
MOST likely:
a. an exclusive agency listing
b. an exclusive right to sell listing
c. a net listing
d. an advance fee listing
answer- a.
, Errors and Omissions insurance covers the broker for:
a. title defects
b. intentional misrepresentations
c. unintentional misrepresentations
d. commission losses
answer- c.
Without checking the facts, a broker who is the seller's agent
tells a buyer that the property taxes in a particular neighborhood
are among the lowest in the area. The buyer relies on the
broker's statement and makes an offer on a house in the
neighborhood. Before closing, it is determined that the taxes are
actually among the highest in the area. The buyer could seek to
rescind the contract on the basis of:
a. puffing
b. misrepresentation
c. lack of care and diligence
d. nothing; property taxes are a matter of public record and it
was the buyer's responsibility to check them
answer- b.
