PSI NJ Real Estate Exam, PSI Practice Test | Questions & Expertly Verified Answers | 2026 | 2027 (Rated Grade A+)

PSI NJ Real Estate Exam, PSI

Expertly Verified Answers | 2026 |



Quiz_________________?

$130,000 -

ANSWERS✅

If a borrower can afford to make monthly principal and interest payments of $1,000 and the
lender will make a 30-year loan at 8-1/2%, how large a loan (rounded to the nearest $100)
can this buyer afford? (BE SURE TO USE THE AMORTIZATION TABLE.)




Quiz_________________?

$250,000 -

ANSWERS✅

An appraiser MUST be licensed or certified to handle Federally related work on residential
property valued at more than




Quiz_________________?

$264 -

ANSWERS✅

The sellers have agreed to give the buyers an allowance of $16.95 per square yard to retile
the kitchen. If the kitchen is 10 feet x 14 feet, how much will it cost the sellers (to the
nearest dollar)?


1

, Quiz_________________?

$409.20 -

ANSWERS✅

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.)




Quiz_________________?

$800 -

ANSWERS✅

On January 15, a seller paid $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.




Quiz_________________?

a competitive market analysis -

ANSWERS✅

A prospective seller asks a salesperson to recommend a listing price for a property. The
salesperson should suggest




Quiz_________________?

a condominium tends to be more affordable. -

ANSWERS✅




2

, A major reason for buying and owning a condominium rather than a detached single-family
home is that




Quiz_________________?

a contract -

ANSWERS✅

A written agreement in which a purchaser agrees to buy and a seller agrees to sell is called




Quiz_________________?

a special assessment -

ANSWERS✅

New sidewalks installed only on one particular street will probably be paid for by




Quiz_________________?

a subagent of the seller. — (Think - brokerage is the AGENCY, salesperson is working
under the agency) -

ANSWERS✅

A broker lists a property, with a listing contract allowing subagency and dual agency. One of
the broker's salespersons shows the property. The salesperson would be classified as




Quiz_________________?

a suicide that occurred in the house last year -

ANSWERS✅

State laws differ on whether a buyer is entitled to know about




3

, Quiz_________________?

advise her friends this could constitute a violation of Sherman Antitrust Act. -

ANSWERS✅

Salesperson Susan was at the local coffee shop with some agents from other offices. The
subject of commissions came up, and agents began to compare their commission rates.
Susan should




Quiz_________________?

Agency coupled with an interest -

ANSWERS✅

A broker supplies the 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?




Quiz_________________?

agency coupled with an interest -

ANSWERS✅

A broker supplies the financing for a project to build condominiums with the stipulation that
he has the exclusive right to sell the completed condos. Which type of agency is this




Quiz_________________?

all real estate activities of salespersons. -

ANSWERS✅

A managing broker can be held responsible for




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