PSI Real Estate Exam Questions with 100% correct answers (updated 2025)
duress - ANSWER-The use of unlawful constraints that forces action or inaction
against a persons will.
dominant tenement - ANSWER-A property that includes in its ownership the
appurtenant right to use an easement over another person's property for a
specific purpose.
devise - ANSWER-A gift of real estate that is given to someone through a will.
determinable fee estate - ANSWER-A fee simple estate in which the property
automatically reverts to the grantor on the occurrence of a specified event or
condition. Ownership with a condition.
designated agency - ANSWER-An agency relationship where a client designates a
broker to appoint an agent to singulary represents the interest of one party to the
exclusion of all others.
descent - ANSWER-The herditary succession of an heir to the property of a
relative who dies intestate.
,deed restriction - ANSWER-A clause in a deed limiting the use of the property.
dba - ANSWER-doing business as
defeasible fee estate - ANSWER-An estate in which the holder has a fee simple title
to the property that will end on the occurrence or nonoccurrence of some event.
radon - ANSWER-An oderless, colorless gas that enters the house through the
basement. May cause lung cancer.
Real property - ANSWER-The land and anything permanently affixed to it
Fixture - ANSWER-An item of personal property that has been converted to real
estate by being permanently affixed to the land or building
A Fixture - ANSWER-Personal property attached to real property. It becomes
"real" once annexed. If detached from land or building it would revert back to
personal property (severance).
Trade fixture - ANSWER-An item installed by commercial tenant and removable by
tenant before expiration of lease
,Area preference or situs - ANSWER-This refers to people's choices and desires
for a given area. Location
Metes and bounds - ANSWER-A legal description that starts and ends at a point of
beginning.
Rectangular (government) survey - ANSWER-Based on measurements from
baselines and principle meridians.
Meridian - ANSWER-Run north and south
Base lines - ANSWER-Run east and west
Township - ANSWER-Six miles square (36 square miles)
1 acre - ANSWER-43,560 square feet
Subdivision plats - ANSWER-Location of an individual parcel is indicated on a map
of the subdivision which is divided into numbered blocks and lots.
Easement - ANSWER-It is a right acquired by one party to use the land of another
party for specific purpose.
, Encumbrances - ANSWER-A charge, claim, or liability that attaches to and is
binding on real estate.
Real estate taxes and special assessments - ANSWER-Usually take priority over all
other liens.
General lien - ANSWER-Inheritance tax, a judgement or court decree. A lien that
applies to all of debtor's property.
Specific lien - ANSWER-Real estate taxes, mortgages and mechanic liens. Liens
specifically on the property.
Appurtenant easements - ANSWER-They "run with the land" and are not
terminated by the sale of either the servient or dominant tenement.
Easement of necessity - ANSWER-Will arise when there is not other access to a
property by a street or public way and the easement is required by necessity
rather than for convenience.
Easements by prescription - ANSWER-Acquired when the claimant has made the
use of anothers land for the prescriptive period. The claimant must have been
continuous without owners approval, visible, open and notorious.
duress - ANSWER-The use of unlawful constraints that forces action or inaction
against a persons will.
dominant tenement - ANSWER-A property that includes in its ownership the
appurtenant right to use an easement over another person's property for a
specific purpose.
devise - ANSWER-A gift of real estate that is given to someone through a will.
determinable fee estate - ANSWER-A fee simple estate in which the property
automatically reverts to the grantor on the occurrence of a specified event or
condition. Ownership with a condition.
designated agency - ANSWER-An agency relationship where a client designates a
broker to appoint an agent to singulary represents the interest of one party to the
exclusion of all others.
descent - ANSWER-The herditary succession of an heir to the property of a
relative who dies intestate.
,deed restriction - ANSWER-A clause in a deed limiting the use of the property.
dba - ANSWER-doing business as
defeasible fee estate - ANSWER-An estate in which the holder has a fee simple title
to the property that will end on the occurrence or nonoccurrence of some event.
radon - ANSWER-An oderless, colorless gas that enters the house through the
basement. May cause lung cancer.
Real property - ANSWER-The land and anything permanently affixed to it
Fixture - ANSWER-An item of personal property that has been converted to real
estate by being permanently affixed to the land or building
A Fixture - ANSWER-Personal property attached to real property. It becomes
"real" once annexed. If detached from land or building it would revert back to
personal property (severance).
Trade fixture - ANSWER-An item installed by commercial tenant and removable by
tenant before expiration of lease
,Area preference or situs - ANSWER-This refers to people's choices and desires
for a given area. Location
Metes and bounds - ANSWER-A legal description that starts and ends at a point of
beginning.
Rectangular (government) survey - ANSWER-Based on measurements from
baselines and principle meridians.
Meridian - ANSWER-Run north and south
Base lines - ANSWER-Run east and west
Township - ANSWER-Six miles square (36 square miles)
1 acre - ANSWER-43,560 square feet
Subdivision plats - ANSWER-Location of an individual parcel is indicated on a map
of the subdivision which is divided into numbered blocks and lots.
Easement - ANSWER-It is a right acquired by one party to use the land of another
party for specific purpose.
, Encumbrances - ANSWER-A charge, claim, or liability that attaches to and is
binding on real estate.
Real estate taxes and special assessments - ANSWER-Usually take priority over all
other liens.
General lien - ANSWER-Inheritance tax, a judgement or court decree. A lien that
applies to all of debtor's property.
Specific lien - ANSWER-Real estate taxes, mortgages and mechanic liens. Liens
specifically on the property.
Appurtenant easements - ANSWER-They "run with the land" and are not
terminated by the sale of either the servient or dominant tenement.
Easement of necessity - ANSWER-Will arise when there is not other access to a
property by a street or public way and the easement is required by necessity
rather than for convenience.
Easements by prescription - ANSWER-Acquired when the claimant has made the
use of anothers land for the prescriptive period. The claimant must have been
continuous without owners approval, visible, open and notorious.
