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PSI exam Questions and Answers
Latest 2026
Real estate taxes that are paid in advanced are prorated
on the closing statement as.
a. no entry to buyer; a credit to seller.
b. no entry to buyer; a debit to seller.
c. a credit to buyer; a debit to seller.
d. a debit to buyer; a credit to seller. Ans: a debit to the
buyer; credit to the seller
Regulation Z requires the disclosure of which of
following?
A. Respa
B. APR
C. NAR
D. CMA Ans: APR
Two men own a parcel of land as joint tenants. One of
them dies, and his will stipulates that his interest will
pass to his wife and, upon her death, to hiss children.
What type of estate do the children have?
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A. Estate in reversion
B. Estate in remainder
C. Life estate
D. No estate Ans: No estate
Something of value offered by one part and accepted by
another as inducement to perform is called
A. Acknowledgment
B. Boot
C. Conveyance
D. Consideration Ans: Consideration
The unities of time, title, interest and possession are
directly connected with
A. Tenancy in common
B. Remainder interest
C. Communal property
D. Joint tenancy Ans: Joint tenancy
A sellers broker must transmit to her principal
A. Copies of all advertisements on the property
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B. All offers that are reasonable
C. All written offers that are reasonable
D. All written offer Ans: All written offers
If the owners of a property sell it themselves, even
though they have an exclusive agency listing with a
broker, they owe the broker
A. The full commission
B. One-half the commission
C. A commission that must be settled through arbitration
D. No commission Ans: No commission
Which of the following does NOT hold a leasehold estate?
A. Tenant for years
B. Life tenant
C. Tenant at will
D. Tenant at sufferance Ans: Tenant at sufferance
In a sale-leaseback agreement, the
A. Grantor becomes the landlord
B. Grantee becomes the tenant
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C. Grantor becomes the lessee
D. Grantor becomes the assignee Ans: Grantor becomes
the lessee
A man and a woman are not married but own property
together. The man dies in an accident and the woman
now owns the property in severalty. The man and the
woman must have held title in
A. Tenancy by the entirety
B. Tenancy in common
C. Life tenancy
D. Joint tenancy Ans: Joint tenancy
When a lease provides that the lessee shall be responsible
for all expenses, it is known as
A. Gross lease
B. Percentage lease
C. Net lease
D. Index lease Ans: Net lease
The cost approach would most likely be used for which
of the following?
A. Single family house
© 2025 All rights reserved
PSI exam Questions and Answers
Latest 2026
Real estate taxes that are paid in advanced are prorated
on the closing statement as.
a. no entry to buyer; a credit to seller.
b. no entry to buyer; a debit to seller.
c. a credit to buyer; a debit to seller.
d. a debit to buyer; a credit to seller. Ans: a debit to the
buyer; credit to the seller
Regulation Z requires the disclosure of which of
following?
A. Respa
B. APR
C. NAR
D. CMA Ans: APR
Two men own a parcel of land as joint tenants. One of
them dies, and his will stipulates that his interest will
pass to his wife and, upon her death, to hiss children.
What type of estate do the children have?
© 2025 All rights reserved
, 2 | Page
A. Estate in reversion
B. Estate in remainder
C. Life estate
D. No estate Ans: No estate
Something of value offered by one part and accepted by
another as inducement to perform is called
A. Acknowledgment
B. Boot
C. Conveyance
D. Consideration Ans: Consideration
The unities of time, title, interest and possession are
directly connected with
A. Tenancy in common
B. Remainder interest
C. Communal property
D. Joint tenancy Ans: Joint tenancy
A sellers broker must transmit to her principal
A. Copies of all advertisements on the property
© 2025 All rights reserved
, 3 | Page
B. All offers that are reasonable
C. All written offers that are reasonable
D. All written offer Ans: All written offers
If the owners of a property sell it themselves, even
though they have an exclusive agency listing with a
broker, they owe the broker
A. The full commission
B. One-half the commission
C. A commission that must be settled through arbitration
D. No commission Ans: No commission
Which of the following does NOT hold a leasehold estate?
A. Tenant for years
B. Life tenant
C. Tenant at will
D. Tenant at sufferance Ans: Tenant at sufferance
In a sale-leaseback agreement, the
A. Grantor becomes the landlord
B. Grantee becomes the tenant
© 2025 All rights reserved
, 4 | Page
C. Grantor becomes the lessee
D. Grantor becomes the assignee Ans: Grantor becomes
the lessee
A man and a woman are not married but own property
together. The man dies in an accident and the woman
now owns the property in severalty. The man and the
woman must have held title in
A. Tenancy by the entirety
B. Tenancy in common
C. Life tenancy
D. Joint tenancy Ans: Joint tenancy
When a lease provides that the lessee shall be responsible
for all expenses, it is known as
A. Gross lease
B. Percentage lease
C. Net lease
D. Index lease Ans: Net lease
The cost approach would most likely be used for which
of the following?
A. Single family house
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