PSI NATIONAL REAL ESTATE
SALESPERSON PRACTICE
CERTIFICATION PAPER 2026 QUESTIONS
WITH SOLUTIONS GRADED A+
>> A legal description in land that includes language like "the old oak tree" or
"the big rock" would be
Answer: Metes and bounds
>> As a licensee is showing a property contiguous to a lake, the licensee notices
that the lake has a large amount of algae. The buyer wishes to make an offer.
What should the licensee do?
Answer: Encourage the buyer to have an authoritative party investigate the
algae growth.
>> All the following are protected classifications except
Answer: Homosexuals
>> As licensees usually work as independent contractors, a broker will have a
contract
for the independent contractor which (for federal purposes) must outline
Answer: Statement that FICA (taxes) are the associates responsibility
>> In a rescission agreement:
Answer: All parties return to original position and earnest money is
refunded
>> Agent A has been working at Brokerage for 4 years. Agent has listed and sold
many but desires to try industrial office sales. What is the best course of action
, for houses Agent A?
company and train under them
Answer: Move license to an industrial/office
>> A seller is listing their $350,000 house. They state their property tax bill is
$1,110 per year. What should the agent do?
Answer: Verify the information with the county
>> A home warranty will typically provide coverage for which of the following:
Answer: Electrical and plumbing systems
>> The local governments have authority to ensure that properties are being built
properly. Under the authority of police power, the government can adapt and
implement:
Answer: Construction standards
>> A married couple owns a property together as tenancy in entirety. Which of
the following about selling a property as tenancy in entirety is true?
Answer: Both spouses must sign the conveyance
>> What statement is true about asbestos removal
Answer: Encapsulation is the safest tactic
>> An easement is
Answer: The right to use another's land
>> The amount to list a property is best determined by:
Answer: Competitive Market Analysis (CMA)
>> Interest on a security deposit Starts:
Answer: The month the Property Manager receives the security deposit
SALESPERSON PRACTICE
CERTIFICATION PAPER 2026 QUESTIONS
WITH SOLUTIONS GRADED A+
>> A legal description in land that includes language like "the old oak tree" or
"the big rock" would be
Answer: Metes and bounds
>> As a licensee is showing a property contiguous to a lake, the licensee notices
that the lake has a large amount of algae. The buyer wishes to make an offer.
What should the licensee do?
Answer: Encourage the buyer to have an authoritative party investigate the
algae growth.
>> All the following are protected classifications except
Answer: Homosexuals
>> As licensees usually work as independent contractors, a broker will have a
contract
for the independent contractor which (for federal purposes) must outline
Answer: Statement that FICA (taxes) are the associates responsibility
>> In a rescission agreement:
Answer: All parties return to original position and earnest money is
refunded
>> Agent A has been working at Brokerage for 4 years. Agent has listed and sold
many but desires to try industrial office sales. What is the best course of action
, for houses Agent A?
company and train under them
Answer: Move license to an industrial/office
>> A seller is listing their $350,000 house. They state their property tax bill is
$1,110 per year. What should the agent do?
Answer: Verify the information with the county
>> A home warranty will typically provide coverage for which of the following:
Answer: Electrical and plumbing systems
>> The local governments have authority to ensure that properties are being built
properly. Under the authority of police power, the government can adapt and
implement:
Answer: Construction standards
>> A married couple owns a property together as tenancy in entirety. Which of
the following about selling a property as tenancy in entirety is true?
Answer: Both spouses must sign the conveyance
>> What statement is true about asbestos removal
Answer: Encapsulation is the safest tactic
>> An easement is
Answer: The right to use another's land
>> The amount to list a property is best determined by:
Answer: Competitive Market Analysis (CMA)
>> Interest on a security deposit Starts:
Answer: The month the Property Manager receives the security deposit
