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PSI NJ REAL ESTATE EXAM LATEST 2026-2027 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (100%
VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED|| ||BRANDNEW!!!||
A deed restriction is applicable to the activities of:
a. the current owner only
b. all owners, present and future
c. tenants
d. mortgagors - ANSWER-b.
A major difference between freehold and nonfreehold estates is
that all freehold estates:
a. are of indeterminable duration
b. terminate upon the death of the person on whose life they are
based
c. are inheritable by the holder's heirs
d. are estates for a fixed term - ANSWER-a.
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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:
a. it satisfies or exceeds all terms included in the counteroffer
b. the owner withdraws the counteroffer before it is accepted
c. the owner gives the first buyer notice that another offer was
received and an opportunity to revise the bid
d. the first buyer is informed, in writing, of the owner's intent to
accept another offer. - ANSWER-b.
Earnest money should be deposited into a trust account:
a. in a timely manner, according to state laws
b. upon removal of all contingencies
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c. at the broker's discretion
d. according to MLS rules. - ANSWER-a.
The Department of Housing and Urban Development estimates
that most private homes built before 1978 contain potentially
dangerous levels of lead. Because of this, some Federal
agencies, such as FHA:
a. will no longer lend or guarantee loans on these older properties
b. require evidence of testing for and disclosure of any type of
lead contamination before they will lend or guarantee loans on
such properties
c. require funds to be escrowed for lead abatement as a condition
of lending or guaranteeing loans on such properties
d. require the buyer to acknowledge disclosure of the presence of
any known lead paint. - ANSWER-d.
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When a property owner uses his home as collateral for a loan and
creates a lien in favor of the lender, title is held by the:
a. mortgagor
b. lender
c. mortgagee
d. beneficiary - ANSWER-a.
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.)
a. $309.20
b. $409.20
c. $550.80
d. None of the above - ANSWER-b.
PSI NJ REAL ESTATE EXAM LATEST 2026-2027 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (100%
VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED|| ||BRANDNEW!!!||
A deed restriction is applicable to the activities of:
a. the current owner only
b. all owners, present and future
c. tenants
d. mortgagors - ANSWER-b.
A major difference between freehold and nonfreehold estates is
that all freehold estates:
a. are of indeterminable duration
b. terminate upon the death of the person on whose life they are
based
c. are inheritable by the holder's heirs
d. are estates for a fixed term - ANSWER-a.
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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:
a. it satisfies or exceeds all terms included in the counteroffer
b. the owner withdraws the counteroffer before it is accepted
c. the owner gives the first buyer notice that another offer was
received and an opportunity to revise the bid
d. the first buyer is informed, in writing, of the owner's intent to
accept another offer. - ANSWER-b.
Earnest money should be deposited into a trust account:
a. in a timely manner, according to state laws
b. upon removal of all contingencies
,3|Page
c. at the broker's discretion
d. according to MLS rules. - ANSWER-a.
The Department of Housing and Urban Development estimates
that most private homes built before 1978 contain potentially
dangerous levels of lead. Because of this, some Federal
agencies, such as FHA:
a. will no longer lend or guarantee loans on these older properties
b. require evidence of testing for and disclosure of any type of
lead contamination before they will lend or guarantee loans on
such properties
c. require funds to be escrowed for lead abatement as a condition
of lending or guaranteeing loans on such properties
d. require the buyer to acknowledge disclosure of the presence of
any known lead paint. - ANSWER-d.
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When a property owner uses his home as collateral for a loan and
creates a lien in favor of the lender, title is held by the:
a. mortgagor
b. lender
c. mortgagee
d. beneficiary - ANSWER-a.
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.)
a. $309.20
b. $409.20
c. $550.80
d. None of the above - ANSWER-b.
