PSI BARBERING COMPREHENSIVE EXAM
REVIEW 2026 QUESTIONS AND SOLUTIONS
◉ After making three sales in six weeks to growing families with
young children in a neighborhood of mostly retirees, a broker
decided to seek additional listings there. He went door to door
suggesting that homeowners who enjoyed living in their quiet
neighborhood might wish to sell now and move to a different area
where there would not be so many noisy children. He listed four
homes during this marketing campaign.. .this is an example of .
Answer: Blockbusting because he persuaded them to list because of
an influx of a protected class
◉ All of the following activities constitute property management for
which licensure is required, except Answer: maintenance calls
◉ A buyer and seller agreed upon a selling price for a property and
both signed a written contract. As part of the contract, they have the
right to sell the house within 30 days this is an Answer: executory
contract
◉ The seller entered into an exclusive right to sell agreement with
terry hill, Ms, hill, presents the seller with an offer to purchase.
Which of the following is appropriate Answer: The seller is under no
obligation to accept the offer or make a counter offer.
,◉ What does the mortgage lender most often rely on when deciding
how much is safe to lend to a parcel of real estate Answer: appraisal
report
◉ The lead paint addendum that must be presented with the
purchase and sale contract for certain older homes will Answer:
provide the buyer with the opportunity to waive the right to lead
paint inspection
◉ It is not illegal to Answer: fire a new salesperson who did not
achieve specific sales goals
◉ When taking a listing to sell a new multi-family residential
property, the document that must be presented to the seller is
Answer: the attorney general's memorandum
◉ When should you be sure that the seller completes a lead based
paint and or lead based paint hazard form? Answer: when the house
was built before 1978
◉ The candidate must apply for the license within Answer: one year
,◉ After being given the appraisal and the closing disclosure, what
would result in the buyer having the right to an additional 3 days to
review the documents Answer: the loan product was changed
◉ after depositing the earnest money, the buyer has a right to
Answer: rescind his offer before acceptance
◉ The common area of condominium development is owned by
Answer: all owners as tenants in common
◉ A salesperson has the oppurtunity to list a complex that is 100 %
rented. The salesperson can predict the price by using Answer: GRM
◉ All of the following types of out-of-state real estate marketed in NJ
through the NJ Brokers must be registered with the Real Estate
Comission Answer: Except office condominiums
◉ A condominium complex is exempt from the fair housing
requirements regarding familial status if Answer: it is intended for at
least on person 55 years or older per unit
◉ Title insurance has allowed for more accessible loans for buyers
Answer: because it reduces the risk of loss due to title defects
, ◉ option contracts must Answer: be in writing
◉ unsold foreclosed property goes to Answer: REO
◉ what is one way the a lender can reduce the buyers total monthly
payment amount so the buyer can afford it? Answer: reducing the
interest rate by charging extra points
◉ A lender may add 1/12th of the estimated cost of the annual
property taxes and hazard insurance on the mortgaged property to
the loan through a Answer: an impound, escrow, or reserve account
◉ tax against specific property resulting from a public improvement
that benefits that property is known as a Answer: special
assessment.
◉ You can furnish contract of sales for one to four family properties
provided that a Answer: three day clause is present
◉ you can rebate commission if you're a Answer: broker
◉ zoning ordinances are set by Answer: local authorities
REVIEW 2026 QUESTIONS AND SOLUTIONS
◉ After making three sales in six weeks to growing families with
young children in a neighborhood of mostly retirees, a broker
decided to seek additional listings there. He went door to door
suggesting that homeowners who enjoyed living in their quiet
neighborhood might wish to sell now and move to a different area
where there would not be so many noisy children. He listed four
homes during this marketing campaign.. .this is an example of .
Answer: Blockbusting because he persuaded them to list because of
an influx of a protected class
◉ All of the following activities constitute property management for
which licensure is required, except Answer: maintenance calls
◉ A buyer and seller agreed upon a selling price for a property and
both signed a written contract. As part of the contract, they have the
right to sell the house within 30 days this is an Answer: executory
contract
◉ The seller entered into an exclusive right to sell agreement with
terry hill, Ms, hill, presents the seller with an offer to purchase.
Which of the following is appropriate Answer: The seller is under no
obligation to accept the offer or make a counter offer.
,◉ What does the mortgage lender most often rely on when deciding
how much is safe to lend to a parcel of real estate Answer: appraisal
report
◉ The lead paint addendum that must be presented with the
purchase and sale contract for certain older homes will Answer:
provide the buyer with the opportunity to waive the right to lead
paint inspection
◉ It is not illegal to Answer: fire a new salesperson who did not
achieve specific sales goals
◉ When taking a listing to sell a new multi-family residential
property, the document that must be presented to the seller is
Answer: the attorney general's memorandum
◉ When should you be sure that the seller completes a lead based
paint and or lead based paint hazard form? Answer: when the house
was built before 1978
◉ The candidate must apply for the license within Answer: one year
,◉ After being given the appraisal and the closing disclosure, what
would result in the buyer having the right to an additional 3 days to
review the documents Answer: the loan product was changed
◉ after depositing the earnest money, the buyer has a right to
Answer: rescind his offer before acceptance
◉ The common area of condominium development is owned by
Answer: all owners as tenants in common
◉ A salesperson has the oppurtunity to list a complex that is 100 %
rented. The salesperson can predict the price by using Answer: GRM
◉ All of the following types of out-of-state real estate marketed in NJ
through the NJ Brokers must be registered with the Real Estate
Comission Answer: Except office condominiums
◉ A condominium complex is exempt from the fair housing
requirements regarding familial status if Answer: it is intended for at
least on person 55 years or older per unit
◉ Title insurance has allowed for more accessible loans for buyers
Answer: because it reduces the risk of loss due to title defects
, ◉ option contracts must Answer: be in writing
◉ unsold foreclosed property goes to Answer: REO
◉ what is one way the a lender can reduce the buyers total monthly
payment amount so the buyer can afford it? Answer: reducing the
interest rate by charging extra points
◉ A lender may add 1/12th of the estimated cost of the annual
property taxes and hazard insurance on the mortgaged property to
the loan through a Answer: an impound, escrow, or reserve account
◉ tax against specific property resulting from a public improvement
that benefits that property is known as a Answer: special
assessment.
◉ You can furnish contract of sales for one to four family properties
provided that a Answer: three day clause is present
◉ you can rebate commission if you're a Answer: broker
◉ zoning ordinances are set by Answer: local authorities
