PSI National Real Estate Exam 2026 | Actual
Exam Questions and Correct Answers |
Verified Answers | Brand New Version!
At the time of listing, the seller tells the listing agent they are moving because the
neighbor has loud parties every weekend. The agent should ---------CORRECT
ANSWER-----------------Tell potential buyers
An appraisal method that uses adjustments to recent sales to estimate value is
the ---------CORRECT ANSWER-----------------sales comparison approach
A lender who forecloses on a property and sells it later for less than what was
owed has the right to obtain a(n) ---------CORRECT ANSWER-----------------deficiency
judgment
What is the payment difference on a loan amount of $220,000 with a 15 year,
5.5% interest versus a 30 year at 6.5% (use amortization chart) ---------CORRECT
ANSWER-----------------$407
A buyer and seller have a contract which states the buyer can buy the property
for $120,000 and close the sale before 12/31/2014. What type of contract exists?
---------CORRECT ANSWER-----------------Option
,A buyer wants to have a home business in a residential neighborhood. The broker
should advise the buyer to ---------CORRECT ANSWER-----------------Check to see
whether zoning will allow the business use.
Which of the following is a disadvantage to owning real estate? ---------CORRECT
ANSWER-----------------Liquidity
A broker lists a property and begins marketing it. The seller sells the property to a
neighbor and pays the broker a full commission, What type of listing agreement
was signed?" ---------CORRECT ANSWER-----------------Exclusive Right to sell
A potential buyer was turned down for a mortgage loan because of the high crime
rate where the property is located. This is an example of ---------CORRECT
ANSWER-----------------Redlining
Fair housing law allows seniors to have separate housing if 80 percent of the units
are occupied by at least one person age 55 or older. This exemption allows
for discrimination based on ---------CORRECT ANSWER-----------------Familial Status
, A property manager would do all the following except: ---------CORRECT ANSWER--
---------------Invest the profits into the building
The listing agreement must contain all the following items except ---------CORRECT
ANSWER-----------------Statement regarding how to earn commission
The renter of a property has recently become disabled and can no longer walk.
The tenant needs a ramp to gain access to the property. What must the landlord
do? ---------CORRECT ANSWER-----------------Permit tenant to install ramp at their
expense
The right of an agent to represent a principal is created by ---------CORRECT
ANSWER-----------------fiduciary agreements
A tenancy in which the lessee remains in possession of the property without the
lessor's consent is: ---------CORRECT ANSWER-----------------An estate at sufferance
All of the following are true of the holder of a fee simple absolute estate EXCEPT: -
--------CORRECT ANSWER-----------------his estate terminates upon death
Exam Questions and Correct Answers |
Verified Answers | Brand New Version!
At the time of listing, the seller tells the listing agent they are moving because the
neighbor has loud parties every weekend. The agent should ---------CORRECT
ANSWER-----------------Tell potential buyers
An appraisal method that uses adjustments to recent sales to estimate value is
the ---------CORRECT ANSWER-----------------sales comparison approach
A lender who forecloses on a property and sells it later for less than what was
owed has the right to obtain a(n) ---------CORRECT ANSWER-----------------deficiency
judgment
What is the payment difference on a loan amount of $220,000 with a 15 year,
5.5% interest versus a 30 year at 6.5% (use amortization chart) ---------CORRECT
ANSWER-----------------$407
A buyer and seller have a contract which states the buyer can buy the property
for $120,000 and close the sale before 12/31/2014. What type of contract exists?
---------CORRECT ANSWER-----------------Option
,A buyer wants to have a home business in a residential neighborhood. The broker
should advise the buyer to ---------CORRECT ANSWER-----------------Check to see
whether zoning will allow the business use.
Which of the following is a disadvantage to owning real estate? ---------CORRECT
ANSWER-----------------Liquidity
A broker lists a property and begins marketing it. The seller sells the property to a
neighbor and pays the broker a full commission, What type of listing agreement
was signed?" ---------CORRECT ANSWER-----------------Exclusive Right to sell
A potential buyer was turned down for a mortgage loan because of the high crime
rate where the property is located. This is an example of ---------CORRECT
ANSWER-----------------Redlining
Fair housing law allows seniors to have separate housing if 80 percent of the units
are occupied by at least one person age 55 or older. This exemption allows
for discrimination based on ---------CORRECT ANSWER-----------------Familial Status
, A property manager would do all the following except: ---------CORRECT ANSWER--
---------------Invest the profits into the building
The listing agreement must contain all the following items except ---------CORRECT
ANSWER-----------------Statement regarding how to earn commission
The renter of a property has recently become disabled and can no longer walk.
The tenant needs a ramp to gain access to the property. What must the landlord
do? ---------CORRECT ANSWER-----------------Permit tenant to install ramp at their
expense
The right of an agent to represent a principal is created by ---------CORRECT
ANSWER-----------------fiduciary agreements
A tenancy in which the lessee remains in possession of the property without the
lessor's consent is: ---------CORRECT ANSWER-----------------An estate at sufferance
All of the following are true of the holder of a fee simple absolute estate EXCEPT: -
--------CORRECT ANSWER-----------------his estate terminates upon death
