PSI NATIONAL EXAM FOR REAL ESTATE
TEST BANK 2026/2027: 500 QUESTIONS
AND 100% VERIFIED ANSWERS | GRADED
A+ |
GUARANTEED PASS!!
A written agreement in which a purchaser agrees to buy and a
seller agrees to sell is called
- answer-a contract
Antitrust laws prohibit competing brokers from all of
the following - answer-1. boycotting other brokers in
the marketplace.
2. dividing the market to restrict competition.
3. agreeing to set sales commissions and management rates.
When a sewer line is installed down a rural road, the cost will
probably be shared by
- answer-all current owners of real estate fronting on that road
State laws differ on whether a buyer is entitled to
know about - answer-a suicide that occurred in
the house last year.
A lawsuit for inverse condemnation may be
brought by - answer-a homeowner
When is racial discrimination in the rental of rooms or
apartments permitted? - answer-Under no circumstances
The real estate broker who is listing a house for sale should
personally verify - answer-the number of square feet in the
building
Real property can be converted to personal
property by - answer-Severance
,Prospective buyers made an offer on a property. The seller did
NOT accept, but made a counteroffer. The
, prospective buyers signed the counteroffer and the real estate
agent delivered their acceptance to the seller.
In the interim, the same buyers had found another house that
they liked better and made an offer on it, which was accepted.
Which of the following is TRUE?
- answer-Both contracts are valid
Although states make specific laws governing water rights and the
rights in land that borders water, most states
generally follow one of two basic doctrines regarding water rights.
In many states, the common law doctrine of riparian and littoral
rights dictates that water rights are automatically conveyed with
property. In others, all water rights are controlled by the state
under the doctrine of
- answer-prior appropriation
The purpose of requiring an earnest money deposit in a real
estate sales contract is to
- answer-provide evidence of the buyer's intention to carry out the
contract.
A buyer is getting a fully amortized loan for $220,000. The bank
will give the buyer the loan for 15 years at 5 1/2%
or for 30 years at 6 1/2%. To the nearest cent, what is the
difference between the monthly payments for these two loans?
(BE SURE TO USE THE AMORTIZATION
TABLE.) - answer-$409.20.
A borrower has defaulted on the mortgage. The mortgage
contains an acceleration clause. This permits the lender to
- answer-demand immediate payment of the entire note
The FHA functions MOST
like
- answer-an insurance
company
1. They are used to buy down interest rate.
2. They are a function of the marketplace.
3. They are paid by either the buyer or the seller.
- answer-discount points
, When land is conveyed to a trustee, the trustee
may
- answer-do whatever is permitted under the
trust agreement
TEST BANK 2026/2027: 500 QUESTIONS
AND 100% VERIFIED ANSWERS | GRADED
A+ |
GUARANTEED PASS!!
A written agreement in which a purchaser agrees to buy and a
seller agrees to sell is called
- answer-a contract
Antitrust laws prohibit competing brokers from all of
the following - answer-1. boycotting other brokers in
the marketplace.
2. dividing the market to restrict competition.
3. agreeing to set sales commissions and management rates.
When a sewer line is installed down a rural road, the cost will
probably be shared by
- answer-all current owners of real estate fronting on that road
State laws differ on whether a buyer is entitled to
know about - answer-a suicide that occurred in
the house last year.
A lawsuit for inverse condemnation may be
brought by - answer-a homeowner
When is racial discrimination in the rental of rooms or
apartments permitted? - answer-Under no circumstances
The real estate broker who is listing a house for sale should
personally verify - answer-the number of square feet in the
building
Real property can be converted to personal
property by - answer-Severance
,Prospective buyers made an offer on a property. The seller did
NOT accept, but made a counteroffer. The
, prospective buyers signed the counteroffer and the real estate
agent delivered their acceptance to the seller.
In the interim, the same buyers had found another house that
they liked better and made an offer on it, which was accepted.
Which of the following is TRUE?
- answer-Both contracts are valid
Although states make specific laws governing water rights and the
rights in land that borders water, most states
generally follow one of two basic doctrines regarding water rights.
In many states, the common law doctrine of riparian and littoral
rights dictates that water rights are automatically conveyed with
property. In others, all water rights are controlled by the state
under the doctrine of
- answer-prior appropriation
The purpose of requiring an earnest money deposit in a real
estate sales contract is to
- answer-provide evidence of the buyer's intention to carry out the
contract.
A buyer is getting a fully amortized loan for $220,000. The bank
will give the buyer the loan for 15 years at 5 1/2%
or for 30 years at 6 1/2%. To the nearest cent, what is the
difference between the monthly payments for these two loans?
(BE SURE TO USE THE AMORTIZATION
TABLE.) - answer-$409.20.
A borrower has defaulted on the mortgage. The mortgage
contains an acceleration clause. This permits the lender to
- answer-demand immediate payment of the entire note
The FHA functions MOST
like
- answer-an insurance
company
1. They are used to buy down interest rate.
2. They are a function of the marketplace.
3. They are paid by either the buyer or the seller.
- answer-discount points
, When land is conveyed to a trustee, the trustee
may
- answer-do whatever is permitted under the
trust agreement
