5/3/25, 11:01 AM
PSI NJ REAL ESTATE NEWEST VERSION ACTUAL EXAM
2025 TEST BANK QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+
Water Rights The terms "littoral," "riparian," and "appropriative" refer to
A managing broker can be all real estate activities of salespersons.
held responsible for
When land is conveyed to a do whatever is permitted under the trust agreement
trustee, the trustee may
On January 15, a seller paid $800
$960 in annual property tax
for the current calendar
year. A buyer is
purchasing the house with
the closing set for March
1. What will be the
seller's credit for the property
taxes already paid if the
buyer pays for the day of
closing? Use a 360-day year
and a 30-day month.
An owner lists her home at None of the above.
a 7% commission rate and
wants to net $45,000 after
paying the mortgage
balance of
$68,000 and the broker's
commission. To the nearest
/ 1/28
,5/3/25, 11:58 AM NJ Real Estate Exam
dollar, what should the
selling price be to net her
$45,000?
1.)$105,090.
2.) $110,753.
3.) $120,910.
4) None of the above.
During the listing the amount of commission is negotiable.
presentation, the seller
questions the amount of
commission to be paid and is
told
Why was the Jones vs. By upholding the Civil Rights Act of 1866, the Supreme
Mayer decision of 1968 Court removed all exceptions to racial discrimination in
important? housing.
A broker supplies the Agency coupled with an interest
financing for a
project to build condominiums
with the
stipulation that he has the
exclusive right to sell the
completed condos. What
type of agency BEST
describes this relationship?
A broker says, while showing a an expression of opinion, or puffing, which could lead to
rural misrepresentation.
property, "This property
has the world's purest well
water." This would be an
example of
The day after a broker's He is no longer the listing agent.
listing on a house expired,
it was listed with another
broker and offered in the
MLS. Several days later, a
third licensee called the
2/28
, 5/3/25, 11:58 AM NJ Real Estate Exam
first broker and asked for
the key to show the
home. The broker should
inform the caller that
At the closing on June 15, the Debit the seller $300, Credit the buyer $300
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?
When is racial discrimination Under no circumstances
in the rental of rooms or
apartments permitted?
At the time of harvest, Personal Property
crops that require annual
planting are generally
considered to be
Under a land contract for Vendor
deed, who retains fee
ownership of the property?
Which of the following They are computed as a percentage of the selling price.
statements about discount
points is FALSE?
1.) They are computed as a
percentage of the selling
price.
2.) They are used to buy down
interest rate.
3.) They are a function of the
marketplace.
4.) They are paid by either
3/28
PSI NJ REAL ESTATE NEWEST VERSION ACTUAL EXAM
2025 TEST BANK QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+
Water Rights The terms "littoral," "riparian," and "appropriative" refer to
A managing broker can be all real estate activities of salespersons.
held responsible for
When land is conveyed to a do whatever is permitted under the trust agreement
trustee, the trustee may
On January 15, a seller paid $800
$960 in annual property tax
for the current calendar
year. A buyer is
purchasing the house with
the closing set for March
1. What will be the
seller's credit for the property
taxes already paid if the
buyer pays for the day of
closing? Use a 360-day year
and a 30-day month.
An owner lists her home at None of the above.
a 7% commission rate and
wants to net $45,000 after
paying the mortgage
balance of
$68,000 and the broker's
commission. To the nearest
/ 1/28
,5/3/25, 11:58 AM NJ Real Estate Exam
dollar, what should the
selling price be to net her
$45,000?
1.)$105,090.
2.) $110,753.
3.) $120,910.
4) None of the above.
During the listing the amount of commission is negotiable.
presentation, the seller
questions the amount of
commission to be paid and is
told
Why was the Jones vs. By upholding the Civil Rights Act of 1866, the Supreme
Mayer decision of 1968 Court removed all exceptions to racial discrimination in
important? housing.
A broker supplies the Agency coupled with an interest
financing for a
project to build condominiums
with the
stipulation that he has the
exclusive right to sell the
completed condos. What
type of agency BEST
describes this relationship?
A broker says, while showing a an expression of opinion, or puffing, which could lead to
rural misrepresentation.
property, "This property
has the world's purest well
water." This would be an
example of
The day after a broker's He is no longer the listing agent.
listing on a house expired,
it was listed with another
broker and offered in the
MLS. Several days later, a
third licensee called the
2/28
, 5/3/25, 11:58 AM NJ Real Estate Exam
first broker and asked for
the key to show the
home. The broker should
inform the caller that
At the closing on June 15, the Debit the seller $300, Credit the buyer $300
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?
When is racial discrimination Under no circumstances
in the rental of rooms or
apartments permitted?
At the time of harvest, Personal Property
crops that require annual
planting are generally
considered to be
Under a land contract for Vendor
deed, who retains fee
ownership of the property?
Which of the following They are computed as a percentage of the selling price.
statements about discount
points is FALSE?
1.) They are computed as a
percentage of the selling
price.
2.) They are used to buy down
interest rate.
3.) They are a function of the
marketplace.
4.) They are paid by either
3/28
