PSI Exam Questions and Answers 100%
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what would prevent a seller from providing marketable title ✔✔Mechanics lien
the seller has required that the buyer must use his title insurance company and that brokers
reduce their portion of the real estate commission, increasing the sellers net proceeds ✔✔This is
illegeal according to respa
If a license mentions MLS when advertising, the advertisement must include ✔✔the name of the
MLS
According to the New Jersey Real estate Licensing Laws, which of the following is a
requirement for any advertisement made by a salesperon ✔✔Name of the salesperson firm
A license may use the term "Realtor" or "realtor associate" only if the licensee is ✔✔a member
of the national association of realtors
Which of the following would automatically be included in the sale of property ✔✔Plumbing
fixtures
,a seller is offering his property for sale in as is condition. a buyer enters into a contract with the
seller. The buyer ✔✔can void the contract due to the sellers failure to disclose the latent defect
Maintains a real estate agency and terminated two salespersons, in this situation, the broker is
required to take all the following steps except ✔✔Permit them to remove original sales and
listing contracts from the brokers office
What should buyers insert into the purchase offer to make sure they would not have to go
through with the purchase if they are not met ✔✔contingencies
A potential buyer signs a contract with a seller but then decides not to buy. The seller may sue
the potential buyer for specific preformance because the contract was a ✔✔bilateral contract
Standard title insurance policy would protect a buyer ✔✔When the seller has forged his ex-
wife's signature on the deed
,Under New Jersey Real Estate commission rules, a licensee's obligations to the public include all
of the following except ✔✔Accepting any reasonable commission offered by a seller in the
course of negotiating a listing agreement
When operating in a discloses dual agency relationship, a licensee must disclose the ✔✔Buyer
being laid-off after submitting a mortgage application
A land contract is sometimes known as ✔✔Installment Contract
A 15 year old inherited some property from a grandparent. The 15 year old put the property for
sale and recieved an offer. Can the 15 year old cancel the agreement to sell property? ✔✔Yes the
contract is voidable because is a minor
"sell now before its too late" is an example of ✔✔blockbusting
Which of the following types of deeds provides the purchaser of real estate the greatest
protection of any deed ✔✔General warranty deed
, After making three sales in six weeks to growing families with young children in a neighborhood
of mostly retirees, a broker decided to seek additional listings there. He went door to door
suggesting that homeowners who enjoyed living in their quiet neighborhood might wish to sell
now and move to a different area where there would not be so many noisy children. He listed
four homes during this marketing campaign.. .this is an example of ✔✔Blockbusting because he
persuaded them to list because of an influx of a protected class
All of the following activities constitute property management for which licensure is required,
except ✔✔maintenance calls
A buyer and seller agreed upon a selling price for a property and both signed a written contract.
As part of the contract, they have the right to sell the house within 30 days this is an
✔✔executory contract
The seller entered into an exclusive right to sell agreement with terry hill, Ms, hill, presents the
seller with an offer to purchase. Which of the following is appropriate ✔✔The seller is under no
obligation to accept the offer or make a counter offer.
What does the mortgage lender most often rely on when deciding how much is safe to lend to a
parcel of real estate ✔✔appraisal report
Pass
what would prevent a seller from providing marketable title ✔✔Mechanics lien
the seller has required that the buyer must use his title insurance company and that brokers
reduce their portion of the real estate commission, increasing the sellers net proceeds ✔✔This is
illegeal according to respa
If a license mentions MLS when advertising, the advertisement must include ✔✔the name of the
MLS
According to the New Jersey Real estate Licensing Laws, which of the following is a
requirement for any advertisement made by a salesperon ✔✔Name of the salesperson firm
A license may use the term "Realtor" or "realtor associate" only if the licensee is ✔✔a member
of the national association of realtors
Which of the following would automatically be included in the sale of property ✔✔Plumbing
fixtures
,a seller is offering his property for sale in as is condition. a buyer enters into a contract with the
seller. The buyer ✔✔can void the contract due to the sellers failure to disclose the latent defect
Maintains a real estate agency and terminated two salespersons, in this situation, the broker is
required to take all the following steps except ✔✔Permit them to remove original sales and
listing contracts from the brokers office
What should buyers insert into the purchase offer to make sure they would not have to go
through with the purchase if they are not met ✔✔contingencies
A potential buyer signs a contract with a seller but then decides not to buy. The seller may sue
the potential buyer for specific preformance because the contract was a ✔✔bilateral contract
Standard title insurance policy would protect a buyer ✔✔When the seller has forged his ex-
wife's signature on the deed
,Under New Jersey Real Estate commission rules, a licensee's obligations to the public include all
of the following except ✔✔Accepting any reasonable commission offered by a seller in the
course of negotiating a listing agreement
When operating in a discloses dual agency relationship, a licensee must disclose the ✔✔Buyer
being laid-off after submitting a mortgage application
A land contract is sometimes known as ✔✔Installment Contract
A 15 year old inherited some property from a grandparent. The 15 year old put the property for
sale and recieved an offer. Can the 15 year old cancel the agreement to sell property? ✔✔Yes the
contract is voidable because is a minor
"sell now before its too late" is an example of ✔✔blockbusting
Which of the following types of deeds provides the purchaser of real estate the greatest
protection of any deed ✔✔General warranty deed
, After making three sales in six weeks to growing families with young children in a neighborhood
of mostly retirees, a broker decided to seek additional listings there. He went door to door
suggesting that homeowners who enjoyed living in their quiet neighborhood might wish to sell
now and move to a different area where there would not be so many noisy children. He listed
four homes during this marketing campaign.. .this is an example of ✔✔Blockbusting because he
persuaded them to list because of an influx of a protected class
All of the following activities constitute property management for which licensure is required,
except ✔✔maintenance calls
A buyer and seller agreed upon a selling price for a property and both signed a written contract.
As part of the contract, they have the right to sell the house within 30 days this is an
✔✔executory contract
The seller entered into an exclusive right to sell agreement with terry hill, Ms, hill, presents the
seller with an offer to purchase. Which of the following is appropriate ✔✔The seller is under no
obligation to accept the offer or make a counter offer.
What does the mortgage lender most often rely on when deciding how much is safe to lend to a
parcel of real estate ✔✔appraisal report
