PSI National Real Estate Exam Actual Exam
2026 | All Questions and Correct Answers
| Verified Answers | Just Released
At the closing on June 15, the buyer is assuming a mortgage presently
on the property, on which the monthly interest charge is currently
$600. The seller has made the payment due on June 1. Assuming a VA
mortgage, what is the adjustment made at closing? ---------CORRECT
ANSWER-----------------Credit seller $300; debit buyer $300
A couple is moving to a new city. They are renting a house temporarily
before buying a house. What type of lease would best suit their needs?
---------CORRECT ANSWER-----------------Month-to-month lease
Two buyers bought a house with a $178,000 mortgage. The interest
rate is 6 1/2% per annum payable for 30 years. To the nearest dollar,
what is their monthly principal
and interest payment? (BE SURE TO USE THE AMORTIZATION TABLE.) --
-------CORRECT ANSWER-----------------$1,125
,A homeowner has negotiated with a neighbor to obtain the permanent
right to pass over the northern part of the neighbor's land to gain
access to the river. He
pays the neighbor $9,000 for the right of access and receives a deed.
This is an
easement ---------CORRECT ANSWER-----------------Appurtenant
At the time of listing, the seller tells the listing agent they are moving
because the neighbor has loud parties every weekend. The agent
should ---------CORRECT ANSWER-----------------Tell potential buyers
An appraisal method that uses adjustments to recent sales to estimate
value is the ---------CORRECT ANSWER-----------------sales comparison
approach
A lender who forecloses on a property and sells it later for less than
what was owed has the right to obtain a(n) ---------CORRECT ANSWER---
--------------deficiency judgment
,What is the payment difference on a loan amount of $220,000 with a
15 year, 5.5% interest versus a 30 year at 6.5% (use amortization chart)
---------CORRECT ANSWER-----------------$407
A buyer and seller have a contract which states the buyer can buy the
property for $120,000 and close the sale before 12/31/2014. What type
of contract exists? ---------CORRECT ANSWER-----------------Option
A buyer wants to have a home business in a residential neighborhood.
The broker should advise the buyer to ---------CORRECT ANSWER----------
-------Check to see whether zoning will allow the business use.
Which of the following is a disadvantage to owning real estate? ---------
CORRECT ANSWER-----------------Liquidity
A broker lists a property and begins marketing it. The seller sells the
property to a neighbor and pays the broker a full commission, What
type of listing agreement was signed?" ---------CORRECT ANSWER---------
--------Exclusive Right to sell
, A potential buyer was turned down for a mortgage loan because of the
high crime rate where the property is located. This is an example of -----
----CORRECT ANSWER-----------------Redlining
Fair housing law allows seniors to have separate housing if 80 percent
of the units are occupied by at least one person age 55 or older. This
exemption allows
for discrimination based on ---------CORRECT ANSWER-----------------
Familial Status
A property manager would do all the following except: ---------CORRECT
ANSWER-----------------Invest the profits into the building
The listing agreement must contain all the following items except --------
-CORRECT ANSWER-----------------Statement regarding how to earn
commission
The renter of a property has recently become disabled and can no
longer walk. The tenant needs a ramp to gain access to the property.
What must the landlord
2026 | All Questions and Correct Answers
| Verified Answers | Just Released
At the closing on June 15, the buyer is assuming a mortgage presently
on the property, on which the monthly interest charge is currently
$600. The seller has made the payment due on June 1. Assuming a VA
mortgage, what is the adjustment made at closing? ---------CORRECT
ANSWER-----------------Credit seller $300; debit buyer $300
A couple is moving to a new city. They are renting a house temporarily
before buying a house. What type of lease would best suit their needs?
---------CORRECT ANSWER-----------------Month-to-month lease
Two buyers bought a house with a $178,000 mortgage. The interest
rate is 6 1/2% per annum payable for 30 years. To the nearest dollar,
what is their monthly principal
and interest payment? (BE SURE TO USE THE AMORTIZATION TABLE.) --
-------CORRECT ANSWER-----------------$1,125
,A homeowner has negotiated with a neighbor to obtain the permanent
right to pass over the northern part of the neighbor's land to gain
access to the river. He
pays the neighbor $9,000 for the right of access and receives a deed.
This is an
easement ---------CORRECT ANSWER-----------------Appurtenant
At the time of listing, the seller tells the listing agent they are moving
because the neighbor has loud parties every weekend. The agent
should ---------CORRECT ANSWER-----------------Tell potential buyers
An appraisal method that uses adjustments to recent sales to estimate
value is the ---------CORRECT ANSWER-----------------sales comparison
approach
A lender who forecloses on a property and sells it later for less than
what was owed has the right to obtain a(n) ---------CORRECT ANSWER---
--------------deficiency judgment
,What is the payment difference on a loan amount of $220,000 with a
15 year, 5.5% interest versus a 30 year at 6.5% (use amortization chart)
---------CORRECT ANSWER-----------------$407
A buyer and seller have a contract which states the buyer can buy the
property for $120,000 and close the sale before 12/31/2014. What type
of contract exists? ---------CORRECT ANSWER-----------------Option
A buyer wants to have a home business in a residential neighborhood.
The broker should advise the buyer to ---------CORRECT ANSWER----------
-------Check to see whether zoning will allow the business use.
Which of the following is a disadvantage to owning real estate? ---------
CORRECT ANSWER-----------------Liquidity
A broker lists a property and begins marketing it. The seller sells the
property to a neighbor and pays the broker a full commission, What
type of listing agreement was signed?" ---------CORRECT ANSWER---------
--------Exclusive Right to sell
, A potential buyer was turned down for a mortgage loan because of the
high crime rate where the property is located. This is an example of -----
----CORRECT ANSWER-----------------Redlining
Fair housing law allows seniors to have separate housing if 80 percent
of the units are occupied by at least one person age 55 or older. This
exemption allows
for discrimination based on ---------CORRECT ANSWER-----------------
Familial Status
A property manager would do all the following except: ---------CORRECT
ANSWER-----------------Invest the profits into the building
The listing agreement must contain all the following items except --------
-CORRECT ANSWER-----------------Statement regarding how to earn
commission
The renter of a property has recently become disabled and can no
longer walk. The tenant needs a ramp to gain access to the property.
What must the landlord
