MI SALES PERSON PSI EXAM (3 HOUR FINAL EXAM) WITH
ALL CORRECT & 100% VERIFIED ANSWERS|ALREADY
GRADED A+
1. 1. A veteran buying a home from a for sale by owner Immediately
rent the
and financing it with a VA loan can do all of the follow- home after
closing to
ing make the monthly pay-
except: ments
2. 2. After Charlie's death, his will indicates that all of his Nothing
real property must go to charity what can
Charlie's wife do?
3. 3. Two Brokers decide to go broke 60/40 in $2,421
favor of the listing broker, and each broker
split 50 Dash 50 with his sales person. How
much will the listing sales person make if the
house is sold for $134,500 & com- mission rate
is 6%?
Waiving continuing
4. 4. The real estate board, appointed by the edu-
governor
and consisting of nine voting members, has authority cation
requirements for an
to decide on all of the following individual who proves
except to be very
competent.
5. 5. Property is appraised for $158,000 and tax rate is 33 2,607
mills. How much tax is due?
6. 6. A shape six miles by six miles square that Township
results from intersection of range lines and
township lines is called a:
1/
35
, MI SALES PERSON PSI EXAM (3 HOUR FINAL EXAM) WITH
ALL CORRECT & 100% VERIFIED ANSWERS|ALREADY
GRADED
7. 7. A parcel of land measuring 485 A+
ft by 1,210 ft sold for 9,056
$122,000. Calculate the approximate price per acre.
8. 8. The following is an example of functional Outdated plumbing.
obsoles- cence?
2/
35
, MI SALES PERSON PSI EXAM (3 HOUR FINAL EXAM) WITH
ALL CORRECT & 100% VERIFIED ANSWERS|ALREADY
GRADED
9. 9. An agent's exaggerated opinionA+
of Puflng
property fea- tures is known as:
10. 10. After purchasing a home, the Johnson's purchased A fixture
a dishwasher and installed it into the kitchen
cabinets. This item has now become:
11. 11. David and Susan purchased real estate as tenants C. When
David dies, his
in common. All of the following is true regarding their share belongs
to Susan
ownership except: they may
want to
sell their
12. 12. John deeded property to his mother with property
the stip- ulation that the mother could own it for before it
as long as she lived and upon her death loses value.
property will go to charity. This is an This illegal
example of: conduct is
known as:
13. 13. David's architect told him that the house
A.
built on the lot must be within 20 feet from the
lot line, while the zoning ordinance requires a
30-ft setback. David must apply and receive:
14. 14. As a special agent of the owner, the
salesperson needs written authority to do all of
the following ex- cept:
15. 15. After noticing the opening of a new
group home in a neighborhood, a licensee
contacts the surround- ing subdivision owners
to notify them of that fact, suggesting that
3/
35
, MI SALES PERSON PSI EXAM (3 HOUR FINAL EXAM) WITH
ALL CORRECT & 100% VERIFIED ANSWERS|ALREADY
GRADED A+
automatically and without probate court.
C. life estate.
A. A variance.
D. Disclose all known ma- terial facts to a potential buyer.
Block-busting
4/
35
ALL CORRECT & 100% VERIFIED ANSWERS|ALREADY
GRADED A+
1. 1. A veteran buying a home from a for sale by owner Immediately
rent the
and financing it with a VA loan can do all of the follow- home after
closing to
ing make the monthly pay-
except: ments
2. 2. After Charlie's death, his will indicates that all of his Nothing
real property must go to charity what can
Charlie's wife do?
3. 3. Two Brokers decide to go broke 60/40 in $2,421
favor of the listing broker, and each broker
split 50 Dash 50 with his sales person. How
much will the listing sales person make if the
house is sold for $134,500 & com- mission rate
is 6%?
Waiving continuing
4. 4. The real estate board, appointed by the edu-
governor
and consisting of nine voting members, has authority cation
requirements for an
to decide on all of the following individual who proves
except to be very
competent.
5. 5. Property is appraised for $158,000 and tax rate is 33 2,607
mills. How much tax is due?
6. 6. A shape six miles by six miles square that Township
results from intersection of range lines and
township lines is called a:
1/
35
, MI SALES PERSON PSI EXAM (3 HOUR FINAL EXAM) WITH
ALL CORRECT & 100% VERIFIED ANSWERS|ALREADY
GRADED
7. 7. A parcel of land measuring 485 A+
ft by 1,210 ft sold for 9,056
$122,000. Calculate the approximate price per acre.
8. 8. The following is an example of functional Outdated plumbing.
obsoles- cence?
2/
35
, MI SALES PERSON PSI EXAM (3 HOUR FINAL EXAM) WITH
ALL CORRECT & 100% VERIFIED ANSWERS|ALREADY
GRADED
9. 9. An agent's exaggerated opinionA+
of Puflng
property fea- tures is known as:
10. 10. After purchasing a home, the Johnson's purchased A fixture
a dishwasher and installed it into the kitchen
cabinets. This item has now become:
11. 11. David and Susan purchased real estate as tenants C. When
David dies, his
in common. All of the following is true regarding their share belongs
to Susan
ownership except: they may
want to
sell their
12. 12. John deeded property to his mother with property
the stip- ulation that the mother could own it for before it
as long as she lived and upon her death loses value.
property will go to charity. This is an This illegal
example of: conduct is
known as:
13. 13. David's architect told him that the house
A.
built on the lot must be within 20 feet from the
lot line, while the zoning ordinance requires a
30-ft setback. David must apply and receive:
14. 14. As a special agent of the owner, the
salesperson needs written authority to do all of
the following ex- cept:
15. 15. After noticing the opening of a new
group home in a neighborhood, a licensee
contacts the surround- ing subdivision owners
to notify them of that fact, suggesting that
3/
35
, MI SALES PERSON PSI EXAM (3 HOUR FINAL EXAM) WITH
ALL CORRECT & 100% VERIFIED ANSWERS|ALREADY
GRADED A+
automatically and without probate court.
C. life estate.
A. A variance.
D. Disclose all known ma- terial facts to a potential buyer.
Block-busting
4/
35
