PSI NJ REAL ESTATE EXAM, PSI PRACTICE T
x x x x x x x
EST EXAM NEWEST, 2024/ 2025, ACTUAL EXAM QUEST
x x x x x x x
IONS AND CORRECT DETAILED ANSWERS |ALREADY
x x x x x x
GRADED A+ x
Axborrowerxhasxdefaultedxonxthexmortgage.xThexmortgagexcontainsxan
accelerationxclause.xThisxpermitsxthexlenderxtox ......answer ...... demandximmediate
paymentxofxthexentirexnote.
Axbrokerxhasxbroughtxaxready,xwilling,xandxablexbuyerxtoxaxseller.xInxMOSTxlisting
contracts,xthexbrokerxhasxearnedxhisxcommissionxwhenx ......answer. ..... thexseller
acceptsxthexoffer
Axbrokerxhasxsignedxaxlistingxcontractxforxthexsalexofxaxhome.xWhichxofxthe
followingxcouldxmakexthisxcontractxvoidable?
a. Thexsellerxcannotxwritexandxsignxwithxanx"X".
b. Thexlistingxcontractxspecifiesxthatxnoxotherxbrokerxmayxshowxthexhouse.
c. Thexsellerxisxheavilyxunderxthexinfluencexofxalcoholxatxthextimexofxsigning.
d. Thexlistingxcontractxspecifiesxthatxaxcommissionxwillxbexpaidxonlyxifxthexhouse
isxsoldxwithinx3xweeks.x ......answer. ....... Thexsellerxisxheavilyxunderxthexinfluencexof
alcoholxatxthextimexofxsigning.
,Axbrokerxlistsxaxproperty,xwithxaxlistingxcontractxallowingxsubagencyxandxdual
agency.xOnexofxthexbroker'sxsalespersonsxshowsxthexproperty.xThexsalesperson
,wouldxbexclassifiedxasx ......answer ..... axsubagentxofxthexseller.x—x(Thinkx-
brokeragexisxthexAGENCY,xsalespersonxisxworkingxunderxthexagency)
Axbrokerxsays,xwhilexshowingxaxruralxproperty,x"Thisxpropertyxhasxthexworld's
purestxwellxwater."xThisxwouldxbexanxexamplexofx ......answer...... anxexpressionxof
opinion,xorxpuffing,xwhichxcouldxleadxtoxmisrepresentation.
Axbrokerxsuppliesxthexfinancingxforxaxprojectxtoxbuildxcondominiumsxwithxthe
stipulationxthatxhexhasxthexexclusivexrightxtoxsellxthexcompletedxcondos.xWhat
typexofxagencyxBESTxdescribesxthisxrelationship?x ......answer...... Agencyxcoupled
withxanxinterest
Axbrokerxsuppliesxthexfinancingxforxaxprojectxtoxbuildxcondominiumsxwithxthe
stipulationxthatxhexhasxthexexclusivexrightxtoxsellxthexcompletedxcondos.xWhich
typexofxagencyxisxthisx ......answer. .... agencyxcoupledxwithxanxinterest
Axbuyerxisxgettingxaxfullyxamortizedxloanxforx$220,000.xThexbankxwillxgivexthexbuyer
thexloanxforx15xyearsxatx5x1/2%xorxforx30xyearsxatx6x1/2%.xToxthexnearestxcent,xwhat
isxthexdifferencexbetweenxthexmonthlyxpaymentsxforxthesextwoxloans?x(BExSURE
TOxUSExTHExAMORTIZATIONxTABLE.)x ......answer ..... $409.20
Axbuyerxmadexanxofferxonxaxpropertyxthatxwasxlistedxatx$350,000.xShexwantedxto
, putx$35,000xdownxandxmakexpaymentsxtoxthexseller,xallowedxthexsellerxtoxretain
x x x x x x x
EST EXAM NEWEST, 2024/ 2025, ACTUAL EXAM QUEST
x x x x x x x
IONS AND CORRECT DETAILED ANSWERS |ALREADY
x x x x x x
GRADED A+ x
Axborrowerxhasxdefaultedxonxthexmortgage.xThexmortgagexcontainsxan
accelerationxclause.xThisxpermitsxthexlenderxtox ......answer ...... demandximmediate
paymentxofxthexentirexnote.
Axbrokerxhasxbroughtxaxready,xwilling,xandxablexbuyerxtoxaxseller.xInxMOSTxlisting
contracts,xthexbrokerxhasxearnedxhisxcommissionxwhenx ......answer. ..... thexseller
acceptsxthexoffer
Axbrokerxhasxsignedxaxlistingxcontractxforxthexsalexofxaxhome.xWhichxofxthe
followingxcouldxmakexthisxcontractxvoidable?
a. Thexsellerxcannotxwritexandxsignxwithxanx"X".
b. Thexlistingxcontractxspecifiesxthatxnoxotherxbrokerxmayxshowxthexhouse.
c. Thexsellerxisxheavilyxunderxthexinfluencexofxalcoholxatxthextimexofxsigning.
d. Thexlistingxcontractxspecifiesxthatxaxcommissionxwillxbexpaidxonlyxifxthexhouse
isxsoldxwithinx3xweeks.x ......answer. ....... Thexsellerxisxheavilyxunderxthexinfluencexof
alcoholxatxthextimexofxsigning.
,Axbrokerxlistsxaxproperty,xwithxaxlistingxcontractxallowingxsubagencyxandxdual
agency.xOnexofxthexbroker'sxsalespersonsxshowsxthexproperty.xThexsalesperson
,wouldxbexclassifiedxasx ......answer ..... axsubagentxofxthexseller.x—x(Thinkx-
brokeragexisxthexAGENCY,xsalespersonxisxworkingxunderxthexagency)
Axbrokerxsays,xwhilexshowingxaxruralxproperty,x"Thisxpropertyxhasxthexworld's
purestxwellxwater."xThisxwouldxbexanxexamplexofx ......answer...... anxexpressionxof
opinion,xorxpuffing,xwhichxcouldxleadxtoxmisrepresentation.
Axbrokerxsuppliesxthexfinancingxforxaxprojectxtoxbuildxcondominiumsxwithxthe
stipulationxthatxhexhasxthexexclusivexrightxtoxsellxthexcompletedxcondos.xWhat
typexofxagencyxBESTxdescribesxthisxrelationship?x ......answer...... Agencyxcoupled
withxanxinterest
Axbrokerxsuppliesxthexfinancingxforxaxprojectxtoxbuildxcondominiumsxwithxthe
stipulationxthatxhexhasxthexexclusivexrightxtoxsellxthexcompletedxcondos.xWhich
typexofxagencyxisxthisx ......answer. .... agencyxcoupledxwithxanxinterest
Axbuyerxisxgettingxaxfullyxamortizedxloanxforx$220,000.xThexbankxwillxgivexthexbuyer
thexloanxforx15xyearsxatx5x1/2%xorxforx30xyearsxatx6x1/2%.xToxthexnearestxcent,xwhat
isxthexdifferencexbetweenxthexmonthlyxpaymentsxforxthesextwoxloans?x(BExSURE
TOxUSExTHExAMORTIZATIONxTABLE.)x ......answer ..... $409.20
Axbuyerxmadexanxofferxonxaxpropertyxthatxwasxlistedxatx$350,000.xShexwantedxto
, putx$35,000xdownxandxmakexpaymentsxtoxthexseller,xallowedxthexsellerxtoxretain
