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VA Real Estate PSI Exam Questions
and Answers (100% Pass)
Abstract of Title
✓ A history of the ownership of a parcel of land which lists transfers of title,
rights, and liabilities.
Accession
✓ The idea that the owner of land is entitled to all that the soil produces
or all that is added to the land either intentionally or by mistake. Trade
fixtures not removed are "assessed" by the owner of the property.
ad valorem
✓ A prefix meaning "based on value". Most local governments levy an ad
valorem tax on property.
Adverse Possession
✓ A method of acquiring original title to property by open, notorious and
hostile possession for a statutory period of time; also referred to as
prescription. POACH.
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Alienation Clause
✓ A provision in a mortgage requiring full payment of the debt upon the
transfer of title to the property, due on sale. Prevents loan assumptions.
Allodial
✓ The free and full ownership of rights in land by individuals, which is the
basis of real property in the United States.
appurtenance
✓ A right, privilege, or improvement belonging to, and passing with, the
land.
Arm's Length Transaction
✓ Occurs between willing buyer and willing seller with each party
completely knowledgeable about the market. A purchaser of property
between relatives (father & son) would not be an "arms length
transaction".
Arrears
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✓ Not on time; late in making payments or completing work. Interest is
paid in arrears.
Attestation
✓ The act of witnessing a person's signing of an instrument by a notary
public.
Attorney's Opinion of Title
✓ A statement issued by an attorney after analyzing an abstract as to
quality of title.
Avulsion
✓ Occurs in cases where there is a sudden loss of land through nature.
Balloon Payment
✓ The remaining balance, at maturity, on a loan that has not been
completely repaid through periodic payments. Once paid, the
outstanding balance is zero. Partially amortized loan.
Bargain and Sale Deed
Master01 | October, 2024/2025 | Latest update
VA Real Estate PSI Exam Questions
and Answers (100% Pass)
Abstract of Title
✓ A history of the ownership of a parcel of land which lists transfers of title,
rights, and liabilities.
Accession
✓ The idea that the owner of land is entitled to all that the soil produces
or all that is added to the land either intentionally or by mistake. Trade
fixtures not removed are "assessed" by the owner of the property.
ad valorem
✓ A prefix meaning "based on value". Most local governments levy an ad
valorem tax on property.
Adverse Possession
✓ A method of acquiring original title to property by open, notorious and
hostile possession for a statutory period of time; also referred to as
prescription. POACH.
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
Alienation Clause
✓ A provision in a mortgage requiring full payment of the debt upon the
transfer of title to the property, due on sale. Prevents loan assumptions.
Allodial
✓ The free and full ownership of rights in land by individuals, which is the
basis of real property in the United States.
appurtenance
✓ A right, privilege, or improvement belonging to, and passing with, the
land.
Arm's Length Transaction
✓ Occurs between willing buyer and willing seller with each party
completely knowledgeable about the market. A purchaser of property
between relatives (father & son) would not be an "arms length
transaction".
Arrears
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
✓ Not on time; late in making payments or completing work. Interest is
paid in arrears.
Attestation
✓ The act of witnessing a person's signing of an instrument by a notary
public.
Attorney's Opinion of Title
✓ A statement issued by an attorney after analyzing an abstract as to
quality of title.
Avulsion
✓ Occurs in cases where there is a sudden loss of land through nature.
Balloon Payment
✓ The remaining balance, at maturity, on a loan that has not been
completely repaid through periodic payments. Once paid, the
outstanding balance is zero. Partially amortized loan.
Bargain and Sale Deed
Master01 | October, 2024/2025 | Latest update
