REAL ESTATE PSI NATIONAL EXAM QUESTIONS WITH THE
LATEST AND UPDATED SCORE
An insurance policy which protects the lender for the amount of the loan as to problems
t t t t t t t t t t t t t t t t
with the title to the property is called a -- Answer ✔✔ mortgagee's policy
t t t t t t t t t t t t t
True or False t t
An Attorney's Opinion is based on the Abstract of Title. -- Answer ✔✔ True
t t t t t t t t t t t t t
The gradual exposure of land behind a receding waterline is called -- Answer ✔✔ reliction
t t t t t t t t t t t t t t
True or False t t
The method by which improvements or personal property become real property is
t t t t t t t t t t t t
through
attachment. -- Answer ✔✔ True t t t t
A continuous linking of owners stretching back to the first owner or the original land grant
t t t t t t t t t t t t t t t t
is called
t
a/an -- Answer ✔✔ chain of title
t t t t t t
Mortgagee title policies protect against _________ loss? -- Answer ✔✔ lenders
t t t t t t t t t t
Title insurance generally covers defects that -- Answer ✔✔ are in the public records
t t t t t t t t t t t t t
A person occupies a property which he does not own for the prescribed number of years
t t t t t t t t t t t t t t t t
as set by state law with no objection from any other party. He can claim ownership of the
t t t t t t t t t t t t t t t t t t
property through -- Answer ✔✔ adverse possession
t t t t t t
A summary report of what was found in the public records when the title search is done,
t t t t t t t t t t t t t t t t t
beginning
,with the original owner and giving a chronological list of all recorded instruments including
t t t t t t t t t t t t t t
liens
and encumbrances is a -- Answer ✔✔ abstract of title
t t t t t t t t t
A deed must be signed by the -- Answer ✔✔ grantor
t t t t t t t t t t
A Bargain and Sale Deed with Covenant is equivalent to a -- Answer ✔✔ special warranty
t t t t t t t t t t t t t t t t
deed
The method by which personal property becomes real property is -- Answer ✔✔
t t t t t t t t t t t t t
attachment
The power of the government to enact and enforce laws to protect the health, safety,
t t t t t t t t t t t t t t t
morals and welfare of the general public is called -- Answer ✔✔ police powers
t t t t t t t t t t t t t
True or False t t
An owner may appeal to the Zoning Review Board for a variance which exempts the
t t t t t t t t t t t t t t t
owner from a t t
particular zoning ordinance. -- Answer ✔✔ True t t t t t t
Areas which separate areas of diverse zoning classifications are called -- Answer ✔✔
t t t t t t t t t t t t t
buffer zones t
True or False t t
The state's authority to enact and enforce police powers is passed on to the municipalities
t t t t t t t t t t t t t t t
through
enabling acts. -- Answer ✔✔ True t t t t t
A change in zoning from a high density use to a lower density use, for example, from
t t t t t t t t t t t t t t t t t
residential to agricultural is known as -- Answer ✔✔ downzoning t t t t t t t t t
A claim or burden on a property which limits one's use or rights in the property is called
t t t t t t t t t t t t t t t t t t
a/an: -- Answer ✔✔ encumbrance
t t t t
,The distance from streets or sidewalks that buildings can be erected is known as: --
t t t t t t t t t t t t t t t
Answer ✔✔ setback t t
A building which was built before a zoning ordinance was enacted, but is allowed to
t t t t t t t t t t t t t t t
continue until the building is torn down or its use is change, is called a -- Answer ✔✔ non-
t t t t t t t t t t t t t t t t t t
conforming use t
True or False t t
Zoning ordinances are used to enforce the Master Plan for a city's development. -- Answer
t t t t t t t t t t t t t t
✔✔ True
t t
The power of the government to seize owner-less land is called: -- Answer ✔✔ Escheat
t t t t t t t t t t t t t t
A monetary claim upon the property of another, which uses the property itself as security
t t t t t t t t t t t t t t t
for
payment of a debt is a -- Answer ✔✔ lient t t t t t t t t
Two types of property taxes are ad valorem taxes and: -- Answer ✔✔ special assessments
t t t t t t t t t t t t t t
A type of seller financing used in connection with a Purchase Money Mortgage is a: --
t t t t t t t t t t t t t t t t
Answer ✔✔ vendor's lien t t t
A mechanic's lien for an unpaid swimming pool would be an example of a: -- Answer ✔✔
t t t t t t t t t t t t t t t t t
Involuntary specific lien t t
The priority of liens with regard to who is paid first in a foreclosure is -- Answer ✔✔
t t t t t t t t t t t t t t t t t t
Property taxes, mechanic's liens, all other mortgages by date recorded
t t t t t t t t t
Mortgages, mechanic, judgments are what type of lien? -- Answer ✔✔ Private
t t t t t t t t t t t
An agreement that changes the priority of liens is a/an -- Answer ✔✔ subordination
t t t t t t t t t t t t t t
agreement
A property tax that is imposed only on a specific segment of the community to pay for
t t t t t t t t t t t t t t t t
improvements for that segment is called a -- Answer ✔✔ special assessment t t t t t t t t t t t
, A lien which attaches only to the property explicitly stated in the lien is a -- Answer ✔✔
t t t t t t t t t t t t t t t t t t
specific lien t
True or False t t
Assessed value is a percentage of market value. -- Answer ✔✔ True
t t t t t t t t t t t
A recorded notice of impending litigation against a property is called -- Answer ✔✔ lis
t t t t t t t t t t t t t t t
pendens
A mechanic's lien must be filed within how many days after completion of the work? --
t t t t t t t t t t t t t t t t
Answer ✔✔ 60 t t
True or False t t
Mechanic's liens do NOT take priority over other mortgages. -- Answer ✔✔ False
t t t t t t t t t t t t
True or False t t
If a seller defaults on a sales contract, the buyer could place a vendee's lien on the property
t t t t t t t t t t t t t t t t t
tto recover his deposit. -- Answer ✔✔ True
t t t t t t t
A type of easement always involving at least two tracts of land and involving ingress and
t t t t t t t t t t t t t t t t
egress is called a/an -- Answer ✔✔ easement appurtenant
t t t t t t t t
The right to use a portion of the land of another for a specific purpose is a/an -- Answer
t t t t t t t t t t t t t t t t t t t
✔✔ easement t
True or False t t
Restrictive conditions place limitations on the use of a property and are used in
t t t t t t t t t t t t t t
determinable or qualified fee estates. -- Answer ✔✔ True t t t t t t t t
The person benefiting from an easement appurtenant is called the -- Answer ✔✔
t t t t t t t t t t t t t
dominant estate t
Subdivision restrictions are also known as: -- Answer ✔✔ restrictive covenants
t t t t t t t t t t
LATEST AND UPDATED SCORE
An insurance policy which protects the lender for the amount of the loan as to problems
t t t t t t t t t t t t t t t t
with the title to the property is called a -- Answer ✔✔ mortgagee's policy
t t t t t t t t t t t t t
True or False t t
An Attorney's Opinion is based on the Abstract of Title. -- Answer ✔✔ True
t t t t t t t t t t t t t
The gradual exposure of land behind a receding waterline is called -- Answer ✔✔ reliction
t t t t t t t t t t t t t t
True or False t t
The method by which improvements or personal property become real property is
t t t t t t t t t t t t
through
attachment. -- Answer ✔✔ True t t t t
A continuous linking of owners stretching back to the first owner or the original land grant
t t t t t t t t t t t t t t t t
is called
t
a/an -- Answer ✔✔ chain of title
t t t t t t
Mortgagee title policies protect against _________ loss? -- Answer ✔✔ lenders
t t t t t t t t t t
Title insurance generally covers defects that -- Answer ✔✔ are in the public records
t t t t t t t t t t t t t
A person occupies a property which he does not own for the prescribed number of years
t t t t t t t t t t t t t t t t
as set by state law with no objection from any other party. He can claim ownership of the
t t t t t t t t t t t t t t t t t t
property through -- Answer ✔✔ adverse possession
t t t t t t
A summary report of what was found in the public records when the title search is done,
t t t t t t t t t t t t t t t t t
beginning
,with the original owner and giving a chronological list of all recorded instruments including
t t t t t t t t t t t t t t
liens
and encumbrances is a -- Answer ✔✔ abstract of title
t t t t t t t t t
A deed must be signed by the -- Answer ✔✔ grantor
t t t t t t t t t t
A Bargain and Sale Deed with Covenant is equivalent to a -- Answer ✔✔ special warranty
t t t t t t t t t t t t t t t t
deed
The method by which personal property becomes real property is -- Answer ✔✔
t t t t t t t t t t t t t
attachment
The power of the government to enact and enforce laws to protect the health, safety,
t t t t t t t t t t t t t t t
morals and welfare of the general public is called -- Answer ✔✔ police powers
t t t t t t t t t t t t t
True or False t t
An owner may appeal to the Zoning Review Board for a variance which exempts the
t t t t t t t t t t t t t t t
owner from a t t
particular zoning ordinance. -- Answer ✔✔ True t t t t t t
Areas which separate areas of diverse zoning classifications are called -- Answer ✔✔
t t t t t t t t t t t t t
buffer zones t
True or False t t
The state's authority to enact and enforce police powers is passed on to the municipalities
t t t t t t t t t t t t t t t
through
enabling acts. -- Answer ✔✔ True t t t t t
A change in zoning from a high density use to a lower density use, for example, from
t t t t t t t t t t t t t t t t t
residential to agricultural is known as -- Answer ✔✔ downzoning t t t t t t t t t
A claim or burden on a property which limits one's use or rights in the property is called
t t t t t t t t t t t t t t t t t t
a/an: -- Answer ✔✔ encumbrance
t t t t
,The distance from streets or sidewalks that buildings can be erected is known as: --
t t t t t t t t t t t t t t t
Answer ✔✔ setback t t
A building which was built before a zoning ordinance was enacted, but is allowed to
t t t t t t t t t t t t t t t
continue until the building is torn down or its use is change, is called a -- Answer ✔✔ non-
t t t t t t t t t t t t t t t t t t
conforming use t
True or False t t
Zoning ordinances are used to enforce the Master Plan for a city's development. -- Answer
t t t t t t t t t t t t t t
✔✔ True
t t
The power of the government to seize owner-less land is called: -- Answer ✔✔ Escheat
t t t t t t t t t t t t t t
A monetary claim upon the property of another, which uses the property itself as security
t t t t t t t t t t t t t t t
for
payment of a debt is a -- Answer ✔✔ lient t t t t t t t t
Two types of property taxes are ad valorem taxes and: -- Answer ✔✔ special assessments
t t t t t t t t t t t t t t
A type of seller financing used in connection with a Purchase Money Mortgage is a: --
t t t t t t t t t t t t t t t t
Answer ✔✔ vendor's lien t t t
A mechanic's lien for an unpaid swimming pool would be an example of a: -- Answer ✔✔
t t t t t t t t t t t t t t t t t
Involuntary specific lien t t
The priority of liens with regard to who is paid first in a foreclosure is -- Answer ✔✔
t t t t t t t t t t t t t t t t t t
Property taxes, mechanic's liens, all other mortgages by date recorded
t t t t t t t t t
Mortgages, mechanic, judgments are what type of lien? -- Answer ✔✔ Private
t t t t t t t t t t t
An agreement that changes the priority of liens is a/an -- Answer ✔✔ subordination
t t t t t t t t t t t t t t
agreement
A property tax that is imposed only on a specific segment of the community to pay for
t t t t t t t t t t t t t t t t
improvements for that segment is called a -- Answer ✔✔ special assessment t t t t t t t t t t t
, A lien which attaches only to the property explicitly stated in the lien is a -- Answer ✔✔
t t t t t t t t t t t t t t t t t t
specific lien t
True or False t t
Assessed value is a percentage of market value. -- Answer ✔✔ True
t t t t t t t t t t t
A recorded notice of impending litigation against a property is called -- Answer ✔✔ lis
t t t t t t t t t t t t t t t
pendens
A mechanic's lien must be filed within how many days after completion of the work? --
t t t t t t t t t t t t t t t t
Answer ✔✔ 60 t t
True or False t t
Mechanic's liens do NOT take priority over other mortgages. -- Answer ✔✔ False
t t t t t t t t t t t t
True or False t t
If a seller defaults on a sales contract, the buyer could place a vendee's lien on the property
t t t t t t t t t t t t t t t t t
tto recover his deposit. -- Answer ✔✔ True
t t t t t t t
A type of easement always involving at least two tracts of land and involving ingress and
t t t t t t t t t t t t t t t t
egress is called a/an -- Answer ✔✔ easement appurtenant
t t t t t t t t
The right to use a portion of the land of another for a specific purpose is a/an -- Answer
t t t t t t t t t t t t t t t t t t t
✔✔ easement t
True or False t t
Restrictive conditions place limitations on the use of a property and are used in
t t t t t t t t t t t t t t
determinable or qualified fee estates. -- Answer ✔✔ True t t t t t t t t
The person benefiting from an easement appurtenant is called the -- Answer ✔✔
t t t t t t t t t t t t t
dominant estate t
Subdivision restrictions are also known as: -- Answer ✔✔ restrictive covenants
t t t t t t t t t t
