PSI Iowa Real Estate Exam (National Portion) - Amy Schaffer
Questions and Verified Answers
100% Guarantee Pass
1. Discrimination on the basis of any of the following could be constructed as
violations of fair housing laws EXCEPT for discrimination based on
a. Ethnic considerations
b. Sexual considerations
c. Economic considerations
d. Religious considerations
Answer: C
2. The amount of a loan expressed as a percentage of the value of the real estate
offered as collateral is the
a. Amortization ratio
b. Loan to value ratio
c. Debt to equity ratio
d. Capital use ration
Answer: B
,3. A listing contract in which the broker's commission is contingent on the broker
being able to produce a buyer before the property is sold by the owner or
another broker is called a (n):
a. Open listing
b. Net listing
c. Exclusive right to sell listing
d. Exclusive agency listing
Answer: A
4. A property owner lists his property for sale with a broker. During the ne-
gotiations, the owner told the broker that the owner wanted $138,000 for the
property, and anything above that amount the broker could keep as his
commission. The listing with this type of provisions is known as
a. Gross listing
b. Net listing
c. Open listing
d. Non-exclusive listing
Answer: B
5. Using the mortgage factor chart, what is the monthly payment for $150,000
loan at 8.5 percent for 30 years?
,a. $1,429.50
b. $1,486.50
c. $1,153.50
d. $1,581.00
Answer: C
6. A house for sale was advertised "fine executive home in an exclusive neigh-
borhood, suitable for an older couple; near St. Mary's Church" all of the follow-
ing are true EXCEPT:
a. a. This is a descriptive of the property for sale and a good ad
b. An exclusive neighborhood could be interpreted to mean that minorities are
not welcome
c. It appears that families with children are not welcome
d. The neighborhood could appear to be undesirable for people who do not
follow the same religion as St. Mary's church
Answer: A
7. Statements by a real estate license exaggerating the benefits of a property
are called
a. Polishing
, b. Puffing
c. Prospecting
d. Marketing
Answer: B
8. When a company furnishes materials for the construction of a house and is
subsequently not paid, it may file a(n):
a. Deficiency judgment
b. Lis pendens
c. Estoppel certificate
d. Mechanics lien
Answer: D
9. Steering is
a. Leading prospective homeowners to or away from certain neighborhoods
b. Refusing to make loans on properties located in certain areas
c. A requirement for the broker to join MLS
d. A practice of standardizing commission rates
Answer: A
10. Taxes are levied on a property owner to pay to install sidewalks or sewers are
Questions and Verified Answers
100% Guarantee Pass
1. Discrimination on the basis of any of the following could be constructed as
violations of fair housing laws EXCEPT for discrimination based on
a. Ethnic considerations
b. Sexual considerations
c. Economic considerations
d. Religious considerations
Answer: C
2. The amount of a loan expressed as a percentage of the value of the real estate
offered as collateral is the
a. Amortization ratio
b. Loan to value ratio
c. Debt to equity ratio
d. Capital use ration
Answer: B
,3. A listing contract in which the broker's commission is contingent on the broker
being able to produce a buyer before the property is sold by the owner or
another broker is called a (n):
a. Open listing
b. Net listing
c. Exclusive right to sell listing
d. Exclusive agency listing
Answer: A
4. A property owner lists his property for sale with a broker. During the ne-
gotiations, the owner told the broker that the owner wanted $138,000 for the
property, and anything above that amount the broker could keep as his
commission. The listing with this type of provisions is known as
a. Gross listing
b. Net listing
c. Open listing
d. Non-exclusive listing
Answer: B
5. Using the mortgage factor chart, what is the monthly payment for $150,000
loan at 8.5 percent for 30 years?
,a. $1,429.50
b. $1,486.50
c. $1,153.50
d. $1,581.00
Answer: C
6. A house for sale was advertised "fine executive home in an exclusive neigh-
borhood, suitable for an older couple; near St. Mary's Church" all of the follow-
ing are true EXCEPT:
a. a. This is a descriptive of the property for sale and a good ad
b. An exclusive neighborhood could be interpreted to mean that minorities are
not welcome
c. It appears that families with children are not welcome
d. The neighborhood could appear to be undesirable for people who do not
follow the same religion as St. Mary's church
Answer: A
7. Statements by a real estate license exaggerating the benefits of a property
are called
a. Polishing
, b. Puffing
c. Prospecting
d. Marketing
Answer: B
8. When a company furnishes materials for the construction of a house and is
subsequently not paid, it may file a(n):
a. Deficiency judgment
b. Lis pendens
c. Estoppel certificate
d. Mechanics lien
Answer: D
9. Steering is
a. Leading prospective homeowners to or away from certain neighborhoods
b. Refusing to make loans on properties located in certain areas
c. A requirement for the broker to join MLS
d. A practice of standardizing commission rates
Answer: A
10. Taxes are levied on a property owner to pay to install sidewalks or sewers are
