1
PSI NATIONAL EXAM FOR REAL ESTATE
QUESTIONS WITH CORRECT /ACCURATE
ANSWERS| 100% RATED CORRECT !! 2025-2026|
100% SURE PASS
A written agreement in which a purchaser agrees to buy
and a seller agrees to sell is called -
-Solution -a contract
Antitrust laws prohibit competing brokers from all of the
following -
-Solution -1. boycotting other brokers in the
marketplace.
2. dividing the market to restrict competition.
3. agreeing to set sales commissions and management
rates.
When a sewer line is installed down a rural road, the
cost will probably be shared by -
-Solution -all current owners of real estate fronting on
that road
State laws differ on whether a buyer is entitled to know
about -
-Solution -a suicide that occurred in the house last year.
A lawsuit for inverse condemnation may be brought by -
-Solution -a homeowner
When is racial discrimination in the rental of rooms or
apartments permitted? -
,2
-Solution -Under no circumstances
The real estate broker who is listing a house for sale
should personally verify -
-Solution -the number of square feet in the building
Real property can be converted to personal property by
-
-Solution -Severance
Prospective buyers made an offer on a property. The
seller did NOT accept, but made a counteroffer. The
prospective buyers signed the counteroffer and the real
estate agent delivered their acceptance to the seller.
In the interim, the same buyers had found another
house that they liked better and made an offer on it,
which was accepted. Which of the following is TRUE? -
-Solution -Both contracts are valid
Although states make specific laws governing water
rights and the rights in land that borders water, most
states
generally follow one of two basic doctrines regarding
water rights. In many states, the common law doctrine
of riparian and littoral rights dictates that water rights
are automatically conveyed with property. In others, all
water rights are controlled by the state under the
doctrine of -
-Solution -prior appropriation
,3
The purpose of requiring an earnest money deposit in a
real estate sales contract is to -
-Solution -provide evidence of the buyer's intention to
carry out the contract.
A buyer is getting a fully amortized loan for $220,000.
The bank will give the buyer the loan for 15 years at 5
1/2%
or for 30 years at 6 1/2%. To the nearest cent, what is
the difference between the monthly payments for these
two loans?
(BE SURE TO USE THE AMORTIZATION TABLE.) -
-Solution -$409.20.
A borrower has defaulted on the mortgage. The
mortgage contains an acceleration clause. This permits
the lender to -
-Solution -demand immediate payment of the entire
note
The FHA functions MOST like -
-Solution -an insurance company
1. They are used to buy down interest rate.
2. They are a function of the marketplace.
3. They are paid by either the buyer or the seller. -
-Solution -discount points
When land is conveyed to a trustee, the trustee may -
-Solution -do whatever is permitted under the trust
agreement
, 4
A prospective buyer made an offer to purchase a
property. The owner responded with a counteroffer.
While the buyer
was reviewing the counteroffer, the owner received a
better offer. The owner can accept the second offer if -
-Solution -the owner withdraws the counteroffer before
it is accepted.
While an agent is showing a listed property, the seller
and the buyer enter into an oral agreement for the
purchase of the home. If a dispute over the terms arises
later, the agreement may be unenforceable because -
-Solution -the agreement does not comply with the
Statute of Frauds
Earnest money should be deposited into a trust account
-
-Solution -in a timely manner, according to state laws
A deed restriction is applicable to the activities of -
-Solution -all owners, present and future
An easement can be terminated by -
-Solution -prescription
Depreciation is calculated based on the -
-Solution -cost of the building only
Which of the following approaches MOST reliably
estimates the sales price of a single-family residence? -
PSI NATIONAL EXAM FOR REAL ESTATE
QUESTIONS WITH CORRECT /ACCURATE
ANSWERS| 100% RATED CORRECT !! 2025-2026|
100% SURE PASS
A written agreement in which a purchaser agrees to buy
and a seller agrees to sell is called -
-Solution -a contract
Antitrust laws prohibit competing brokers from all of the
following -
-Solution -1. boycotting other brokers in the
marketplace.
2. dividing the market to restrict competition.
3. agreeing to set sales commissions and management
rates.
When a sewer line is installed down a rural road, the
cost will probably be shared by -
-Solution -all current owners of real estate fronting on
that road
State laws differ on whether a buyer is entitled to know
about -
-Solution -a suicide that occurred in the house last year.
A lawsuit for inverse condemnation may be brought by -
-Solution -a homeowner
When is racial discrimination in the rental of rooms or
apartments permitted? -
,2
-Solution -Under no circumstances
The real estate broker who is listing a house for sale
should personally verify -
-Solution -the number of square feet in the building
Real property can be converted to personal property by
-
-Solution -Severance
Prospective buyers made an offer on a property. The
seller did NOT accept, but made a counteroffer. The
prospective buyers signed the counteroffer and the real
estate agent delivered their acceptance to the seller.
In the interim, the same buyers had found another
house that they liked better and made an offer on it,
which was accepted. Which of the following is TRUE? -
-Solution -Both contracts are valid
Although states make specific laws governing water
rights and the rights in land that borders water, most
states
generally follow one of two basic doctrines regarding
water rights. In many states, the common law doctrine
of riparian and littoral rights dictates that water rights
are automatically conveyed with property. In others, all
water rights are controlled by the state under the
doctrine of -
-Solution -prior appropriation
,3
The purpose of requiring an earnest money deposit in a
real estate sales contract is to -
-Solution -provide evidence of the buyer's intention to
carry out the contract.
A buyer is getting a fully amortized loan for $220,000.
The bank will give the buyer the loan for 15 years at 5
1/2%
or for 30 years at 6 1/2%. To the nearest cent, what is
the difference between the monthly payments for these
two loans?
(BE SURE TO USE THE AMORTIZATION TABLE.) -
-Solution -$409.20.
A borrower has defaulted on the mortgage. The
mortgage contains an acceleration clause. This permits
the lender to -
-Solution -demand immediate payment of the entire
note
The FHA functions MOST like -
-Solution -an insurance company
1. They are used to buy down interest rate.
2. They are a function of the marketplace.
3. They are paid by either the buyer or the seller. -
-Solution -discount points
When land is conveyed to a trustee, the trustee may -
-Solution -do whatever is permitted under the trust
agreement
, 4
A prospective buyer made an offer to purchase a
property. The owner responded with a counteroffer.
While the buyer
was reviewing the counteroffer, the owner received a
better offer. The owner can accept the second offer if -
-Solution -the owner withdraws the counteroffer before
it is accepted.
While an agent is showing a listed property, the seller
and the buyer enter into an oral agreement for the
purchase of the home. If a dispute over the terms arises
later, the agreement may be unenforceable because -
-Solution -the agreement does not comply with the
Statute of Frauds
Earnest money should be deposited into a trust account
-
-Solution -in a timely manner, according to state laws
A deed restriction is applicable to the activities of -
-Solution -all owners, present and future
An easement can be terminated by -
-Solution -prescription
Depreciation is calculated based on the -
-Solution -cost of the building only
Which of the following approaches MOST reliably
estimates the sales price of a single-family residence? -
