PSI NJ Real Estate Exam, PSI Practice Test EXAM NEWEST, 20
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24/ 2025, ACTUAL EXAM QUESTIONS AND CORRECTDETAILED ANSWE
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RS |ALREADY GRADED A
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Alborrowerlhasldefaultedlonlthelmortgage.lThelmortgagelcontainslan
accelerationlclause.lThislpermitslthellenderltol ......answer ........ demandlimmediate
paymentloflthelentirelnote.
Albrokerlhaslbroughtlalready,lwilling,landlablelbuyerltolalseller.lInlMOSTllisting
contracts,lthelbrokerlhaslearnedlhislcommissionlwhenl ......answer. ........ thelseller
acceptsltheloffer
Albrokerlhaslsignedlallistinglcontractlforlthelsaleloflalhome.lWhichloflthe
followinglcouldlmakelthislcontractlvoidable?
a. Thelsellerlcannotlwritelandlsignlwithlanl"X".
b. Thellistinglcontractlspecifieslthatlnolotherlbrokerlmaylshowlthelhouse.
c. Thelsellerlislheavilylunderlthelinfluenceloflalcohollatltheltimeloflsigning.
d. Thellistinglcontractlspecifieslthatlalcommissionlwilllbelpaidlonlyliflthelhouse
islsoldlwithinl3lweeks.l ......answer. ...... Thelsellerlislheavilylunderlthelinfluencelof
alcohollatltheltimeloflsigning.
Albrokerllistslalproperty,lwithlallistinglcontractlallowinglsubagencylandldual
agency.lOneloflthelbroker'slsalespersonslshowslthelproperty.lThelsalesperson
,wouldlbelclassifiedlasl ......answer ...... alsubagentloflthelseller.l—l(Thinkl-
brokeragelislthelAGENCY,lsalespersonlislworkinglunderlthelagency)
Albrokerlsays,lwhilelshowinglalrurallproperty,l"Thislpropertylhaslthelworld's
purestlwelllwater."lThislwouldlbelanlexamplelofl ......answer ......... anlexpressionlof
opinion,lorlpuffing,lwhichlcouldlleadltolmisrepresentation.
Albrokerlsupplieslthelfinancinglforlalprojectltolbuildlcondominiumslwithlthe
stipulationlthatlhelhaslthelexclusivelrightltolselllthelcompletedlcondos.lWhat
typeloflagencylBESTldescribeslthislrelationship?l ......answer ........ Agencylcoupled
withlanlinterest
Albrokerlsupplieslthelfinancinglforlalprojectltolbuildlcondominiumslwithlthe
stipulationlthatlhelhaslthelexclusivelrightltolselllthelcompletedlcondos.lWhich
typeloflagencylislthisl ......answer....... agencylcoupledlwithlanlinterest
Albuyerlislgettinglalfullylamortizedlloanlforl$220,000.lThelbanklwilllgivelthelbuyer
thelloanlforl15lyearslatl5l1/2%lorlforl30lyearslatl6l1/2%.lTolthelnearestlcent,lwhat
isltheldifferencelbetweenlthelmonthlylpaymentslforltheseltwolloans?l(BElSURE
TOlUSElTHElAMORTIZATIONlTABLE.)ll......answer........ $409.20
Albuyerlmadelanlofferlonlalpropertylthatlwasllistedlatl$350,000.lShelwantedlto
putl$35,000ldownlandlmakelpaymentsltolthelseller,lallowedlthelsellerltolretain
, titleluntillthelprincipallwaslpaidloff.lThelsellerlaccepted,landlthelbuyerlbecamela
......answer. ... vendee
Albuyerlwaslnegotiatinglthelpurchaseloflalhouselforlhimself.lDuringla
conversationlwithlthelseller,lthelsellerlagreedltolincludelalllkitchenlapplianceslin
thelsale,landlthislfactlwaslincludedlinlthelsaleslcontract.lInlthislsituation,liflthe
sellerltakeslthelapplianceslwithlhim,lwhatlrecourseldoeslthelbuyerlhave?
......answer. ... Thelbuyerlmaylsuelthelsellerlforlspecificlperformance.
AlchargeloflviolationloflFederallFairlHousingllawslcanlbelheardlbylan
administrativellawljudgelwithinlthelDepartmentloflHousinglandlUrban
Developmentl(HUD)lorlbylalFederalldistrictlcourtljudgelinlFederallcourt.lThe
advantageloflalFederallcourtlhearingltolthelcomplaininglpartylislthat
......answer. ... Therelislnoldollarllimitlonldamageslpaid
Alcompanylagreesltolleaselalpropertyltolbelusedlaslalgamblinglcasino.lState
lawslprohibitlgambling.lThislparticularlcontractlwouldlbellegallyldefinedlas
......answer. ... void
AlcompetitivelmarketlanalysislislMOSTloftenlusedlforl ......answer. ........ settingla
listinglprice
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24/ 2025, ACTUAL EXAM QUESTIONS AND CORRECTDETAILED ANSWE
l l l l l l l l
RS |ALREADY GRADED A
l l l
Alborrowerlhasldefaultedlonlthelmortgage.lThelmortgagelcontainslan
accelerationlclause.lThislpermitslthellenderltol ......answer ........ demandlimmediate
paymentloflthelentirelnote.
Albrokerlhaslbroughtlalready,lwilling,landlablelbuyerltolalseller.lInlMOSTllisting
contracts,lthelbrokerlhaslearnedlhislcommissionlwhenl ......answer. ........ thelseller
acceptsltheloffer
Albrokerlhaslsignedlallistinglcontractlforlthelsaleloflalhome.lWhichloflthe
followinglcouldlmakelthislcontractlvoidable?
a. Thelsellerlcannotlwritelandlsignlwithlanl"X".
b. Thellistinglcontractlspecifieslthatlnolotherlbrokerlmaylshowlthelhouse.
c. Thelsellerlislheavilylunderlthelinfluenceloflalcohollatltheltimeloflsigning.
d. Thellistinglcontractlspecifieslthatlalcommissionlwilllbelpaidlonlyliflthelhouse
islsoldlwithinl3lweeks.l ......answer. ...... Thelsellerlislheavilylunderlthelinfluencelof
alcohollatltheltimeloflsigning.
Albrokerllistslalproperty,lwithlallistinglcontractlallowinglsubagencylandldual
agency.lOneloflthelbroker'slsalespersonslshowslthelproperty.lThelsalesperson
,wouldlbelclassifiedlasl ......answer ...... alsubagentloflthelseller.l—l(Thinkl-
brokeragelislthelAGENCY,lsalespersonlislworkinglunderlthelagency)
Albrokerlsays,lwhilelshowinglalrurallproperty,l"Thislpropertylhaslthelworld's
purestlwelllwater."lThislwouldlbelanlexamplelofl ......answer ......... anlexpressionlof
opinion,lorlpuffing,lwhichlcouldlleadltolmisrepresentation.
Albrokerlsupplieslthelfinancinglforlalprojectltolbuildlcondominiumslwithlthe
stipulationlthatlhelhaslthelexclusivelrightltolselllthelcompletedlcondos.lWhat
typeloflagencylBESTldescribeslthislrelationship?l ......answer ........ Agencylcoupled
withlanlinterest
Albrokerlsupplieslthelfinancinglforlalprojectltolbuildlcondominiumslwithlthe
stipulationlthatlhelhaslthelexclusivelrightltolselllthelcompletedlcondos.lWhich
typeloflagencylislthisl ......answer....... agencylcoupledlwithlanlinterest
Albuyerlislgettinglalfullylamortizedlloanlforl$220,000.lThelbanklwilllgivelthelbuyer
thelloanlforl15lyearslatl5l1/2%lorlforl30lyearslatl6l1/2%.lTolthelnearestlcent,lwhat
isltheldifferencelbetweenlthelmonthlylpaymentslforltheseltwolloans?l(BElSURE
TOlUSElTHElAMORTIZATIONlTABLE.)ll......answer........ $409.20
Albuyerlmadelanlofferlonlalpropertylthatlwasllistedlatl$350,000.lShelwantedlto
putl$35,000ldownlandlmakelpaymentsltolthelseller,lallowedlthelsellerltolretain
, titleluntillthelprincipallwaslpaidloff.lThelsellerlaccepted,landlthelbuyerlbecamela
......answer. ... vendee
Albuyerlwaslnegotiatinglthelpurchaseloflalhouselforlhimself.lDuringla
conversationlwithlthelseller,lthelsellerlagreedltolincludelalllkitchenlapplianceslin
thelsale,landlthislfactlwaslincludedlinlthelsaleslcontract.lInlthislsituation,liflthe
sellerltakeslthelapplianceslwithlhim,lwhatlrecourseldoeslthelbuyerlhave?
......answer. ... Thelbuyerlmaylsuelthelsellerlforlspecificlperformance.
AlchargeloflviolationloflFederallFairlHousingllawslcanlbelheardlbylan
administrativellawljudgelwithinlthelDepartmentloflHousinglandlUrban
Developmentl(HUD)lorlbylalFederalldistrictlcourtljudgelinlFederallcourt.lThe
advantageloflalFederallcourtlhearingltolthelcomplaininglpartylislthat
......answer. ... Therelislnoldollarllimitlonldamageslpaid
Alcompanylagreesltolleaselalpropertyltolbelusedlaslalgamblinglcasino.lState
lawslprohibitlgambling.lThislparticularlcontractlwouldlbellegallyldefinedlas
......answer. ... void
AlcompetitivelmarketlanalysislislMOSTloftenlusedlforl ......answer. ........ settingla
listinglprice
