2/10/25, 10:54 AM PSI NATIONAL REAL ESTATE EXAM 2025 | ACTUAL EXAM QUESTIONS AND CORRECT ANSWERS WITH RATIONALE | ALR…
PSI NATIONAL REAL ESTATE EXAM 2025 |
ACTUAL EXAM QUESTIONS AND CORRECT
ANSWERS WITH RATIONALE | ALREADY
GRADED A+
Save
Terms in this set (235)
The doctrine of laches Enforcement
refers to the _______ of
restrictive
covenants/deed
restrictions.
-Creation
-Enforcement
-History
-Types
https://quizlet.com/1003821890/psi-national-real-estate-exam-2025-actual-exam-questions-and-correct-answers-with-rationale-already-graded-a-flas… 1/58
,2/10/25, 10:54 AM PSI NATIONAL REAL ESTATE EXAM 2025 | ACTUAL EXAM QUESTIONS AND CORRECT ANSWERS WITH RATIONALE | ALR…
Roberto, a licensee, filled Yes, licensees can use standard forms originally
in the blanks on a created or approved by an attorney.
standard form used in his
brokerage firm. Is this
okay?
-No, because he's not an
attorney, he shouldn't
prepare contracts.
-No, he should have his
client complete any forms.
-Yes, licensees can use
standard forms originally
created or approved by
an attorney.
-Yes, real estate licensees
may draft contracts and fill
in blanks on existing
contracts.
Derrick was thrilled to find Enjoyment
out that the land he
purchased includes
several small caves. He's
been spelunking for about
three years and looks
forward to exploring the
caves on weekends. Which
real property right allows
him to do so?
-Disposition
-Enjoyment
-Exclusion
-Possession
https://quizlet.com/1003821890/psi-national-real-estate-exam-2025-actual-exam-questions-and-correct-answers-with-rationale-already-graded-a-flas… 2/58
,2/10/25, 10:54 AM PSI NATIONAL REAL ESTATE EXAM 2025 | ACTUAL EXAM QUESTIONS AND CORRECT ANSWERS WITH RATIONALE | ALR…
Lawrence is a buyer To detail the estimated closing costs for Lawrence's
closing on a home loan
purchase for which he's
obtaining financing. He **The Loan Estimate, which the lender must provide
receives a Loan Estimate within three days of loan application, provides an
from his lender. What's the estimate of mortgage loan costs.
purpose of this
document?
-To detail the amount
Lawrence needs to bring
to closing
-To detail the estimated
closing costs for
Lawrence's loan
-To disclose the interest
rates available on this
lender's various loan
programs
-To disclose the lender's
source of loan funds
Claire rents 1,100 square Modified gross lease
feet of office space in a
new professional building. **A modified gross lease typically includes all the nets
Her rent payment includes in the base rent, but not utilities and/or janitorial
all utilities and property services.
taxes, but she pays
separately for custodial
services. What kind of
lease does Claire have?
-Full-service lease
-Modified gross lease
-Percentage lease
-Triple-net lease
https://quizlet.com/1003821890/psi-national-real-estate-exam-2025-actual-exam-questions-and-correct-answers-with-rationale-already-graded-a-flas… 3/58
, 2/10/25, 10:54 AM PSI NATIONAL REAL ESTATE EXAM 2025 | ACTUAL EXAM QUESTIONS AND CORRECT ANSWERS WITH RATIONALE | ALR…
Marlon and Leah are Tax abatement
interested in buying a
home in a new **A tax abatement program will lower the property
homeowner opportunity taxes on a given property for a set amount of time.
area. The 100-year-old row This is typically in response to some sort of
house was renovated and improvement or rehabilitation, or for some new
is like new on the inside. construction properties.
The property taxes
decreased by more than
$5,000 last year. What's
the likely reason for this?
-Introductory rates
-Seller error
-Tax abatement
-Tax reassessment
Which of the following is Two brokerages determine a standard commission
an example of price rate.
fixing?
**Collusion must occur on pricing for the public in
-A brokerage requires all order for price fixing to occur.
licensees to offer a fair
cooperative brokerage
fee.
-Three brokerages agree
to purchase office
supplies together to
obtain a bulk discount.
-Twelve brokerages
discuss compensation of
associated independent
contractor licensees.
-Two brokerages
determine a standard
commission rate.
https://quizlet.com/1003821890/psi-national-real-estate-exam-2025-actual-exam-questions-and-correct-answers-with-rationale-already-graded-a-flas… 4/58
PSI NATIONAL REAL ESTATE EXAM 2025 |
ACTUAL EXAM QUESTIONS AND CORRECT
ANSWERS WITH RATIONALE | ALREADY
GRADED A+
Save
Terms in this set (235)
The doctrine of laches Enforcement
refers to the _______ of
restrictive
covenants/deed
restrictions.
-Creation
-Enforcement
-History
-Types
https://quizlet.com/1003821890/psi-national-real-estate-exam-2025-actual-exam-questions-and-correct-answers-with-rationale-already-graded-a-flas… 1/58
,2/10/25, 10:54 AM PSI NATIONAL REAL ESTATE EXAM 2025 | ACTUAL EXAM QUESTIONS AND CORRECT ANSWERS WITH RATIONALE | ALR…
Roberto, a licensee, filled Yes, licensees can use standard forms originally
in the blanks on a created or approved by an attorney.
standard form used in his
brokerage firm. Is this
okay?
-No, because he's not an
attorney, he shouldn't
prepare contracts.
-No, he should have his
client complete any forms.
-Yes, licensees can use
standard forms originally
created or approved by
an attorney.
-Yes, real estate licensees
may draft contracts and fill
in blanks on existing
contracts.
Derrick was thrilled to find Enjoyment
out that the land he
purchased includes
several small caves. He's
been spelunking for about
three years and looks
forward to exploring the
caves on weekends. Which
real property right allows
him to do so?
-Disposition
-Enjoyment
-Exclusion
-Possession
https://quizlet.com/1003821890/psi-national-real-estate-exam-2025-actual-exam-questions-and-correct-answers-with-rationale-already-graded-a-flas… 2/58
,2/10/25, 10:54 AM PSI NATIONAL REAL ESTATE EXAM 2025 | ACTUAL EXAM QUESTIONS AND CORRECT ANSWERS WITH RATIONALE | ALR…
Lawrence is a buyer To detail the estimated closing costs for Lawrence's
closing on a home loan
purchase for which he's
obtaining financing. He **The Loan Estimate, which the lender must provide
receives a Loan Estimate within three days of loan application, provides an
from his lender. What's the estimate of mortgage loan costs.
purpose of this
document?
-To detail the amount
Lawrence needs to bring
to closing
-To detail the estimated
closing costs for
Lawrence's loan
-To disclose the interest
rates available on this
lender's various loan
programs
-To disclose the lender's
source of loan funds
Claire rents 1,100 square Modified gross lease
feet of office space in a
new professional building. **A modified gross lease typically includes all the nets
Her rent payment includes in the base rent, but not utilities and/or janitorial
all utilities and property services.
taxes, but she pays
separately for custodial
services. What kind of
lease does Claire have?
-Full-service lease
-Modified gross lease
-Percentage lease
-Triple-net lease
https://quizlet.com/1003821890/psi-national-real-estate-exam-2025-actual-exam-questions-and-correct-answers-with-rationale-already-graded-a-flas… 3/58
, 2/10/25, 10:54 AM PSI NATIONAL REAL ESTATE EXAM 2025 | ACTUAL EXAM QUESTIONS AND CORRECT ANSWERS WITH RATIONALE | ALR…
Marlon and Leah are Tax abatement
interested in buying a
home in a new **A tax abatement program will lower the property
homeowner opportunity taxes on a given property for a set amount of time.
area. The 100-year-old row This is typically in response to some sort of
house was renovated and improvement or rehabilitation, or for some new
is like new on the inside. construction properties.
The property taxes
decreased by more than
$5,000 last year. What's
the likely reason for this?
-Introductory rates
-Seller error
-Tax abatement
-Tax reassessment
Which of the following is Two brokerages determine a standard commission
an example of price rate.
fixing?
**Collusion must occur on pricing for the public in
-A brokerage requires all order for price fixing to occur.
licensees to offer a fair
cooperative brokerage
fee.
-Three brokerages agree
to purchase office
supplies together to
obtain a bulk discount.
-Twelve brokerages
discuss compensation of
associated independent
contractor licensees.
-Two brokerages
determine a standard
commission rate.
https://quizlet.com/1003821890/psi-national-real-estate-exam-2025-actual-exam-questions-and-correct-answers-with-rationale-already-graded-a-flas… 4/58
