PSI NATIONAL REAL ESTATE
CERTIFICATION MONITORING LOG 2026 ALL
INQUIRIES AND OFFICIAL DATA VALIDATION
QUERY SYSTEM
A competitive market analysis is MOST often used for. Answer:
setting a listing price.
⫸ A couple owns an older home in a neighborhood that is becoming a
commercial area. Because of the change in the use of the land, the
couple can expect the value of their parcel to increase at some future
time. This is an example of the principle of. Answer: anticipation.
⫸ A commercial property lost value because a recently constructed
highway moved traffic away from the property. This is an example of.
Answer: economic or external obsolescence.
⫸ According to the principle of progression, a three-bedroom, one-
story home is MOST likely to bring the highest sales price if located
in a neighborhood in which. Answer: most homes are larger than the
sale home.
⫸ A prospective seller asks a salesperson to recommend a listing
price for a property. The salesperson should suggest. Answer: a
competitive market analysis to determine the property's value.
,⫸ If all other factors are equal, in which location is a parking lot
likely to bring the highest sales price?. Answer: Business district
zoned for a six story office building.
⫸ When the sellers are lending part of the purchase price, they may
secure the debt either with a deed of trust or a mortgage. For the
seller, one benefit of the deed of trust is that. Answer: foreclosure is
usually simpler and faster.
⫸ Even if a loan applicant's current income seems adequate to qualify
for a certain loan, the Equal Credit Opportunity Act allows a lender to
refuse the loan as a high risk if the applicant's main source of income
is. Answer: commission sales.
⫸ A broker and the buyers he represents are anxiously awaiting the
closing on their new home. The closing is scheduled in 4 days. The
buyers inform the broker that they just received revised Loan
Estimate and Closing Disclosure forms from the lender, indicating the
Annual Percentage Rate on their loan has increased by 0.3%. Based
on the TILA-RESPA Integrated Disclosure rule, what action should
the broker take in this situation?. Answer: Confirm with the seller's
broker, the lender and the closing entity that the closing must be
delayed to allow for a new seven-day waiting period because of the
interest rate revision.
⫸ The FHA functions MOST like. Answer: an insurance company.
, ⫸ Federal Truth-in-Lending laws are also known as. Answer:
Regulation Z.
⫸ Which of these Federal laws regulates the advertisement of a
lender's credit terms (rates, payment, etc.)?. Answer: Regulation Z.
⫸ A borrower has defaulted on the mortgage. The mortgage contains
an acceleration clause. This permits the lender to. Answer: demand
immediate payment of the entire note.
⫸ According to the Truth-in-Lending Act, if any "trigger terms" are
used in an ad, all of the following disclosures MUST appear in the ad
EXCEPT the. Answer: prepayment penalties and rebates.
⫸ An owner hired a construction company to build a swimming pool
at a new home. The owner failed to pay the bill once the work was
completed and the construction company filed a lien to obtain
payment of the debt. The encumbrance created is called. Answer: a
mechanic's lien.
⫸ Three people buy a house as tenants in common. Subsequently,
two of the owners want to sell, but the third discourages each
potential purchaser. The two owners who wish to sell the house can.
Answer: file an action for partition against the third owner.
⫸ A legal easement can be created by any of the following EXCEPT.
Answer: merger of the titles.
CERTIFICATION MONITORING LOG 2026 ALL
INQUIRIES AND OFFICIAL DATA VALIDATION
QUERY SYSTEM
A competitive market analysis is MOST often used for. Answer:
setting a listing price.
⫸ A couple owns an older home in a neighborhood that is becoming a
commercial area. Because of the change in the use of the land, the
couple can expect the value of their parcel to increase at some future
time. This is an example of the principle of. Answer: anticipation.
⫸ A commercial property lost value because a recently constructed
highway moved traffic away from the property. This is an example of.
Answer: economic or external obsolescence.
⫸ According to the principle of progression, a three-bedroom, one-
story home is MOST likely to bring the highest sales price if located
in a neighborhood in which. Answer: most homes are larger than the
sale home.
⫸ A prospective seller asks a salesperson to recommend a listing
price for a property. The salesperson should suggest. Answer: a
competitive market analysis to determine the property's value.
,⫸ If all other factors are equal, in which location is a parking lot
likely to bring the highest sales price?. Answer: Business district
zoned for a six story office building.
⫸ When the sellers are lending part of the purchase price, they may
secure the debt either with a deed of trust or a mortgage. For the
seller, one benefit of the deed of trust is that. Answer: foreclosure is
usually simpler and faster.
⫸ Even if a loan applicant's current income seems adequate to qualify
for a certain loan, the Equal Credit Opportunity Act allows a lender to
refuse the loan as a high risk if the applicant's main source of income
is. Answer: commission sales.
⫸ A broker and the buyers he represents are anxiously awaiting the
closing on their new home. The closing is scheduled in 4 days. The
buyers inform the broker that they just received revised Loan
Estimate and Closing Disclosure forms from the lender, indicating the
Annual Percentage Rate on their loan has increased by 0.3%. Based
on the TILA-RESPA Integrated Disclosure rule, what action should
the broker take in this situation?. Answer: Confirm with the seller's
broker, the lender and the closing entity that the closing must be
delayed to allow for a new seven-day waiting period because of the
interest rate revision.
⫸ The FHA functions MOST like. Answer: an insurance company.
, ⫸ Federal Truth-in-Lending laws are also known as. Answer:
Regulation Z.
⫸ Which of these Federal laws regulates the advertisement of a
lender's credit terms (rates, payment, etc.)?. Answer: Regulation Z.
⫸ A borrower has defaulted on the mortgage. The mortgage contains
an acceleration clause. This permits the lender to. Answer: demand
immediate payment of the entire note.
⫸ According to the Truth-in-Lending Act, if any "trigger terms" are
used in an ad, all of the following disclosures MUST appear in the ad
EXCEPT the. Answer: prepayment penalties and rebates.
⫸ An owner hired a construction company to build a swimming pool
at a new home. The owner failed to pay the bill once the work was
completed and the construction company filed a lien to obtain
payment of the debt. The encumbrance created is called. Answer: a
mechanic's lien.
⫸ Three people buy a house as tenants in common. Subsequently,
two of the owners want to sell, but the third discourages each
potential purchaser. The two owners who wish to sell the house can.
Answer: file an action for partition against the third owner.
⫸ A legal easement can be created by any of the following EXCEPT.
Answer: merger of the titles.
