1
PSI NJ REAL ESTATE Test Newest
2025/2026 With Complete Questions
And Correct Answers |Already Graded
A+||Brand New Version
The terms "littoral," "riparian," and "appropriative" refer to... - (ANSWER)water
rights
A salesperson lists a property with a contract that allows for subagency and dual
agency. The salesperson is - (ANSWER)an agent to the broker and a subagent to
the principal.
Depreciation is calculated based on the - (ANSWER)Cost of the building only.
When a property owner uses his home as collateral for a loan and creates a lien in
favor of the lender, title is held by the - (ANSWER)mortgagor
A competitive market analysis is MOST often used for - (ANSWER)setting a listing
price
A seller tells the listing agent that her home was treated for termites 10 years
ago, so there are no termites now. Before listing the property, the agent should -
(ANSWER)tell the seller not to disclose, because the statute of limitations has run
out.
, 2
All of the following are methods to calculate the reproduction or replacement
cost of a building EXCEPT the - (ANSWER)straight-line method
The buyer is assuming a mortgage presently on the property in the amount of
$110,000. What is the adjustment made at closing? - (ANSWER)Credit buyer
$110,000; debit seller $110,000.
If conditions for purchase are included in a deed and these conditions are
violated, what is the penalty? - (ANSWER)Return of the property to the original
owner.
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 judgment has been properly recorded. Any subsequent purchasers, whether
they have actually examined the record or not, have been given -
(ANSWER)constructive notice
What type of map is MOST useful for describing the terrain of a very hilly lot? -
(ANSWER)contour map
The Department of Housing and Urban Development estimates that most private
homes built before 1978 contain potentially dangerous levels of lead. Because of
this, some Federal agencies, such as FHA, - (ANSWER)Require the buyer to
acknowledge disclosure of the presence of any known lead paint.
PSI NJ REAL ESTATE Test Newest
2025/2026 With Complete Questions
And Correct Answers |Already Graded
A+||Brand New Version
The terms "littoral," "riparian," and "appropriative" refer to... - (ANSWER)water
rights
A salesperson lists a property with a contract that allows for subagency and dual
agency. The salesperson is - (ANSWER)an agent to the broker and a subagent to
the principal.
Depreciation is calculated based on the - (ANSWER)Cost of the building only.
When a property owner uses his home as collateral for a loan and creates a lien in
favor of the lender, title is held by the - (ANSWER)mortgagor
A competitive market analysis is MOST often used for - (ANSWER)setting a listing
price
A seller tells the listing agent that her home was treated for termites 10 years
ago, so there are no termites now. Before listing the property, the agent should -
(ANSWER)tell the seller not to disclose, because the statute of limitations has run
out.
, 2
All of the following are methods to calculate the reproduction or replacement
cost of a building EXCEPT the - (ANSWER)straight-line method
The buyer is assuming a mortgage presently on the property in the amount of
$110,000. What is the adjustment made at closing? - (ANSWER)Credit buyer
$110,000; debit seller $110,000.
If conditions for purchase are included in a deed and these conditions are
violated, what is the penalty? - (ANSWER)Return of the property to the original
owner.
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 judgment has been properly recorded. Any subsequent purchasers, whether
they have actually examined the record or not, have been given -
(ANSWER)constructive notice
What type of map is MOST useful for describing the terrain of a very hilly lot? -
(ANSWER)contour map
The Department of Housing and Urban Development estimates that most private
homes built before 1978 contain potentially dangerous levels of lead. Because of
this, some Federal agencies, such as FHA, - (ANSWER)Require the buyer to
acknowledge disclosure of the presence of any known lead paint.
