PSI NEWEST ACTUAL EXAM WITH COMPLETE
QUESTIONS AND CORRECT VERIFIED
ANSWERS(DETAILED ANSWERS) 2026/2027 UPDATED
/ALREADY GRADED A+ 100% GUARANTEED TO PASS
CONCEPTS!!!
A license may use the term "Realtor" or "realtor associate" only if the licensee is -
CORRECT ANSWER-a member of the national association of realtors
Which of the following would automatically be included in the sale of property -
CORRECT ANSWER-Plumbing fixtures
a seller is offering his property for sale in as is condition. a buyer enters into a
contract with the seller. The buyer - CORRECT ANSWER-can void the contract
due to the sellers failure to disclose the latent defect
Maintains a real estate agency and terminated two salespersons, in this situation,
the broker is required to take all the following steps except - CORRECT
ANSWER-Permit them to remove original sales and listing contracts from the
brokers office
,What should buyers insert into the purchase offer to make sure they would not
have to go through with the purchase if they are not met - CORRECT ANSWER-
contingencies
what would prevent a seller from providing marketable title - CORRECT
ANSWER-Mechanics lien
the seller has required that the buyer must use his title insurance company and
that brokers reduce their portion of the real estate commission, increasing the
sellers net proceeds - CORRECT ANSWER-This is illegeal according to respa
If a license mentions MLS when advertising, the advertisement must include -
CORRECT ANSWER-the name of the MLS
According to the New Jersey Real estate Licensing Laws, which of the following is
a requirement for any advertisement made by a salesperon - CORRECT
ANSWER-Name of the salesperson firm
A potential buyer signs a contract with a seller but then decides not to buy. The
seller may sue the potential buyer for specific preformance because the contract
was a - CORRECT ANSWER-bilateral contract
Standard title insurance policy would protect a buyer - CORRECT ANSWER-
When the seller has forged his ex-wife's signature on the deed
Under New Jersey Real Estate commission rules, a licensee's obligations to the
public include all of the following except - CORRECT ANSWER-Accepting any
,reasonable commission offered by a seller in the course of negotiating a listing
agreement
When operating in a discloses dual agency relationship, a licensee must disclose
the - CORRECT ANSWER-Buyer being laid-off after submitting a mortgage
application
A land contract is sometimes known as - CORRECT ANSWER-Installment
Contract
A 15 year old inherited some property from a grandparent. The 15 year old put
the property for sale and recieved an offer. Can the 15 year old cancel the
agreement to sell property? - CORRECT ANSWER-Yes the contract is voidable
because is a minor
"sell now before its too late" is an example of - CORRECT ANSWER-blockbusting
Which of the following types of deeds provides the purchaser of real estate the
greatest protection of any deed - CORRECT ANSWER-General warranty deed
After making three sales in six weeks to growing families with young children in a
neighborhood of mostly retirees, a broker decided to seek additional listings
there. He went door to door suggesting that homeowners who enjoyed living in
their quiet neighborhood might wish to sell now and move to a different area
where there would not be so many noisy children. He listed four homes during
this marketing campaign.. .this is an example of - CORRECT ANSWER-
, Blockbusting because he persuaded them to list because of an influx of a
protected class
All of the following activities constitute property management for which licensure
is required, except - CORRECT ANSWER-maintenance calls
A buyer and seller agreed upon a selling price for a property and both signed a
written contract. As part of the contract, they have the right to sell the house
within 30 days this is an - CORRECT ANSWER-executory contract
The seller entered into an exclusive right to sell agreement with terry hill, Ms, hill,
presents the seller with an offer to purchase. Which of the following is
appropriate - CORRECT ANSWER-The seller is under no obligation to accept the
offer or make a counter offer.
What does the mortgage lender most often rely on when deciding how much is
safe to lend to a parcel of real estate - CORRECT ANSWER-appraisal report
The lead paint addendum that must be presented with the purchase and sale
contract for certain older homes will - CORRECT ANSWER-provide the buyer
with the opportunity to waive the right to lead paint inspection
It is not illegal to - CORRECT ANSWER-fire a new salesperson who did not
achieve specific sales goals
QUESTIONS AND CORRECT VERIFIED
ANSWERS(DETAILED ANSWERS) 2026/2027 UPDATED
/ALREADY GRADED A+ 100% GUARANTEED TO PASS
CONCEPTS!!!
A license may use the term "Realtor" or "realtor associate" only if the licensee is -
CORRECT ANSWER-a member of the national association of realtors
Which of the following would automatically be included in the sale of property -
CORRECT ANSWER-Plumbing fixtures
a seller is offering his property for sale in as is condition. a buyer enters into a
contract with the seller. The buyer - CORRECT ANSWER-can void the contract
due to the sellers failure to disclose the latent defect
Maintains a real estate agency and terminated two salespersons, in this situation,
the broker is required to take all the following steps except - CORRECT
ANSWER-Permit them to remove original sales and listing contracts from the
brokers office
,What should buyers insert into the purchase offer to make sure they would not
have to go through with the purchase if they are not met - CORRECT ANSWER-
contingencies
what would prevent a seller from providing marketable title - CORRECT
ANSWER-Mechanics lien
the seller has required that the buyer must use his title insurance company and
that brokers reduce their portion of the real estate commission, increasing the
sellers net proceeds - CORRECT ANSWER-This is illegeal according to respa
If a license mentions MLS when advertising, the advertisement must include -
CORRECT ANSWER-the name of the MLS
According to the New Jersey Real estate Licensing Laws, which of the following is
a requirement for any advertisement made by a salesperon - CORRECT
ANSWER-Name of the salesperson firm
A potential buyer signs a contract with a seller but then decides not to buy. The
seller may sue the potential buyer for specific preformance because the contract
was a - CORRECT ANSWER-bilateral contract
Standard title insurance policy would protect a buyer - CORRECT ANSWER-
When the seller has forged his ex-wife's signature on the deed
Under New Jersey Real Estate commission rules, a licensee's obligations to the
public include all of the following except - CORRECT ANSWER-Accepting any
,reasonable commission offered by a seller in the course of negotiating a listing
agreement
When operating in a discloses dual agency relationship, a licensee must disclose
the - CORRECT ANSWER-Buyer being laid-off after submitting a mortgage
application
A land contract is sometimes known as - CORRECT ANSWER-Installment
Contract
A 15 year old inherited some property from a grandparent. The 15 year old put
the property for sale and recieved an offer. Can the 15 year old cancel the
agreement to sell property? - CORRECT ANSWER-Yes the contract is voidable
because is a minor
"sell now before its too late" is an example of - CORRECT ANSWER-blockbusting
Which of the following types of deeds provides the purchaser of real estate the
greatest protection of any deed - CORRECT ANSWER-General warranty deed
After making three sales in six weeks to growing families with young children in a
neighborhood of mostly retirees, a broker decided to seek additional listings
there. He went door to door suggesting that homeowners who enjoyed living in
their quiet neighborhood might wish to sell now and move to a different area
where there would not be so many noisy children. He listed four homes during
this marketing campaign.. .this is an example of - CORRECT ANSWER-
, Blockbusting because he persuaded them to list because of an influx of a
protected class
All of the following activities constitute property management for which licensure
is required, except - CORRECT ANSWER-maintenance calls
A buyer and seller agreed upon a selling price for a property and both signed a
written contract. As part of the contract, they have the right to sell the house
within 30 days this is an - CORRECT ANSWER-executory contract
The seller entered into an exclusive right to sell agreement with terry hill, Ms, hill,
presents the seller with an offer to purchase. Which of the following is
appropriate - CORRECT ANSWER-The seller is under no obligation to accept the
offer or make a counter offer.
What does the mortgage lender most often rely on when deciding how much is
safe to lend to a parcel of real estate - CORRECT ANSWER-appraisal report
The lead paint addendum that must be presented with the purchase and sale
contract for certain older homes will - CORRECT ANSWER-provide the buyer
with the opportunity to waive the right to lead paint inspection
It is not illegal to - CORRECT ANSWER-fire a new salesperson who did not
achieve specific sales goals
