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PSI NJ Real Estate Exam, PSI Practice Test Newest
2026/2027 Actual Complete 100 Real Verified Exam
Questions And Correct Detailed Answers (Verified
Answers) |Already Graded A+ / Newest Exam!!!
Water Rights - Answer-The terms "littoral," "riparian," and
"appropriative" refer to
A judgement has been properly recorded. Any subsequent
purchasers, whether they have actually examined the
record or not, have been given is? - Answer-constructive
notice
For Federal income tax purposes, what are the costs of
homeownership that may be deducted from gross
income? - Answer-mortgage loan interest, local property
taxes, mortgage loan origination fees
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?
a. credit seller $300, credit buyer $300
,2|Page
b. debit seller $300, debit buyer $300
c. credit seller $300, debit buyer $300
d. debit seller $300, credit buyer $300 - Answer-debit
seller $300, credit buyer $300
When someone has living heirs but dies without leaving a
will, the estate is distributed according to the - Answer-
statue of descent
is NOT usually prorated at closing? - Answer-special tax
assessments
The buyer is assuming a mortgage presently on the
property in the amount of $110,000. What is the
adjustment made at closing?
a. credit buyer $110,000, debit seller $110,000
b. credit seller $110,000, debit buyer $110,000
c. credit buyer $110,000, no adjustment to seller
d. credit seller $110,000, no adjustment to buyer - Answer-
credit buyer $110,000, debit seller $110,000
,3|Page
The statement "this property has the most beautiful views
in the neighborhood" is an example of - Answer-puffing
The Civil Rights Act of 1866 prohibits any type of
discrimination based on - Answer-race
Antitrust laws prohibit competing brokers from all of the
following EXCEPT
a. boycotting other brokers in the marketplace
b. dividing the market to restrict competition
c. agreeing to set sales commissions and management
rates
d. receiving compensation from both the buyer and the
seller - Answer-receiving compensation from both the
buyer and the seller
A real estate brokerage company has developed
standardized policies regarding the inventory of properties
to be shown to prospective buyers, the company's
standards for qualifying buyers, and documentation of all
conversations and showings. These policies can help the
firm defend itself in the event of an accusation of
, 4|Page
discrimination, but only if the policies - Answer-require
every licensee in the firm to follow them consistently
Earnest money should be deposited into a trust account -
Answer-in a timely manner, according to state laws
The practice of inducing panic selling in a neighborhood
for financial gain is - Answer-blockbusting
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
a. cash price or amount of the loan
b. amount of down payment required
c. number, amount, and frequency of payments
d. prepayment penalties and rebates - Answer-
prepayment penalties and rebates
An agent shows a home to a couple and mentions that it
has a lovely fireplace in the living room. After buying the
home, the buyers and agent discover that the brick
fireplace is just a decorative fireplace and is not "wood
PSI NJ Real Estate Exam, PSI Practice Test Newest
2026/2027 Actual Complete 100 Real Verified Exam
Questions And Correct Detailed Answers (Verified
Answers) |Already Graded A+ / Newest Exam!!!
Water Rights - Answer-The terms "littoral," "riparian," and
"appropriative" refer to
A judgement has been properly recorded. Any subsequent
purchasers, whether they have actually examined the
record or not, have been given is? - Answer-constructive
notice
For Federal income tax purposes, what are the costs of
homeownership that may be deducted from gross
income? - Answer-mortgage loan interest, local property
taxes, mortgage loan origination fees
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?
a. credit seller $300, credit buyer $300
,2|Page
b. debit seller $300, debit buyer $300
c. credit seller $300, debit buyer $300
d. debit seller $300, credit buyer $300 - Answer-debit
seller $300, credit buyer $300
When someone has living heirs but dies without leaving a
will, the estate is distributed according to the - Answer-
statue of descent
is NOT usually prorated at closing? - Answer-special tax
assessments
The buyer is assuming a mortgage presently on the
property in the amount of $110,000. What is the
adjustment made at closing?
a. credit buyer $110,000, debit seller $110,000
b. credit seller $110,000, debit buyer $110,000
c. credit buyer $110,000, no adjustment to seller
d. credit seller $110,000, no adjustment to buyer - Answer-
credit buyer $110,000, debit seller $110,000
,3|Page
The statement "this property has the most beautiful views
in the neighborhood" is an example of - Answer-puffing
The Civil Rights Act of 1866 prohibits any type of
discrimination based on - Answer-race
Antitrust laws prohibit competing brokers from all of the
following EXCEPT
a. boycotting other brokers in the marketplace
b. dividing the market to restrict competition
c. agreeing to set sales commissions and management
rates
d. receiving compensation from both the buyer and the
seller - Answer-receiving compensation from both the
buyer and the seller
A real estate brokerage company has developed
standardized policies regarding the inventory of properties
to be shown to prospective buyers, the company's
standards for qualifying buyers, and documentation of all
conversations and showings. These policies can help the
firm defend itself in the event of an accusation of
, 4|Page
discrimination, but only if the policies - Answer-require
every licensee in the firm to follow them consistently
Earnest money should be deposited into a trust account -
Answer-in a timely manner, according to state laws
The practice of inducing panic selling in a neighborhood
for financial gain is - Answer-blockbusting
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
a. cash price or amount of the loan
b. amount of down payment required
c. number, amount, and frequency of payments
d. prepayment penalties and rebates - Answer-
prepayment penalties and rebates
An agent shows a home to a couple and mentions that it
has a lovely fireplace in the living room. After buying the
home, the buyers and agent discover that the brick
fireplace is just a decorative fireplace and is not "wood
