PSI NATIONAL REAL ESTATE
QUESTIONS AND ANSWERS
2026
A legal description in land that includes language like "the
old oak tree" or "the big rock" would be -correct 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? -correct Answer -Encourage the buyer to
have an authoritative party investigate the algae growth.
All the following are protected classifications except -
correct 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 -correct Answer -Statement that FICA (taxes)
are the associates responsibility
In a rescission agreement: -correct 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? -correct Answer -Move license to an industrial/office
company and train under them
A seller is listing their $350,000 house. They state their
property tax bill is $1,110 per year. What should the agent
do? -correct Answer -Verify the information with the
county
A home warranty will typically provide coverage for which
of the following: -correct 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: -
correct 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? -correct Answer -Both spouses
must sign the conveyance
What statement is true about asbestos removal -correct
Answer -Encapsulation is the safest tactic
An easement is -correct Answer -The right to use
another's land
QUESTIONS AND ANSWERS
2026
A legal description in land that includes language like "the
old oak tree" or "the big rock" would be -correct 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? -correct Answer -Encourage the buyer to
have an authoritative party investigate the algae growth.
All the following are protected classifications except -
correct 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 -correct Answer -Statement that FICA (taxes)
are the associates responsibility
In a rescission agreement: -correct 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? -correct Answer -Move license to an industrial/office
company and train under them
A seller is listing their $350,000 house. They state their
property tax bill is $1,110 per year. What should the agent
do? -correct Answer -Verify the information with the
county
A home warranty will typically provide coverage for which
of the following: -correct 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: -
correct 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? -correct Answer -Both spouses
must sign the conveyance
What statement is true about asbestos removal -correct
Answer -Encapsulation is the safest tactic
An easement is -correct Answer -The right to use
another's land
