National PSI BUNDLED EXAMS PRACTICE TEST EXAM 2024 WITH 100% CORRECT ANSWERS

Active Status correct answersLegally engaging in acts of real estate. Brokerage Agreement correct answersA written agreement establishing the brokerage relationship between a client and a licensee which must state whether the licensee will represent the client as an agent or as an independent con...

Government rights in land 1 2 3 4 correct answers1. Police Power 2. Eminent Domain 3. Property Taxes 4. Escheat police power correct answersEnacts and Enforces laws governing land use - public control of land ( Eg. zoning, building codes, etc) eminant domain correct answersPower of a go...

All of the above correct answersIn Virginia, what action is prohibited in an advertisement for real estate? Select one: A. Failing to get a client's written consent to advertise his property B. Failing to identify the type of services offered in a general property description C. Advertising tha...

A written agreement in which a purchaser agrees to buy and a seller agrees to sell is called correct answersa contract Antitrust laws prohibit competing brokers from all of the following correct answers1. boycotting other brokers in the marketplace. 2. dividing the market to restrict competition...

What is the purpose of chapter 21 in the Virginia code? -to summarize property and conveyance regulations -to codify laws regarding Virginia deeds and covenants -to present license requirements, brokerage relationships and real estate board authorizations -to articulate the Virginia residential ...

What's is skin? correct answersOrgan What's the different name for stratum corneum? correct answershorny layer Where elastin and collagen located? correct answersDermis loyer What's the main function of the lymph? correct answerscarries waste Nerve that affect face? correct answersCra...

What is the purpose of Chapter 21 in the Virginia code? correct answersTo present license requirements brokerage relationships and Real Estate Board authorizations Delaney is licensed under a real estate firm and legally performs real estate activities for an average of at least 40 hours a week. ...

Real Estate law governing advertising applies to all of these EXCEPT: A. In house notes for showing B. Multiple listing service (MLS) C. communications with consumers D. Social Media A. In-house notes for showing are not seen by consumers an so do not have to follow state or federal laws. ...

If there is in effect at the date of the foreclosure sale a real estate purchase contract to buy the property foreclosed upon and the real estate purchase contract provides that the earnest money deposit held in escrow by a firm or sole proprietorship shall be paid to a principal to the contract in ...

Purpose of Virginia real estate law Protect public interest Actively engaged in the application for a broker's license 40 hours per week

Real estate taxes that are paid in advanced are prorated on the closing statement as. a. no entry to buyer; a credit to seller. b. no entry to buyer; a debit to seller. c. a credit to buyer; a debit to seller. d. a debit to buyer; a credit to seller. a debit to the buyer; credit to the seller ...

what happens to Lease transactions: security deposits. Any security deposit held by a firm or sole proprietorship? correct answersshall be placed in an escrow account by the end of the fifth business banking day following receipt, unless otherwise agreed to in writing by the principals to the transa...

a contract of sale states that the earnest money deposit is to be placed in an interest-bearing account with any interest earned to be given to the buyer. This is: correct answersokay, because the buyer and the seller have agreed to this If a buyer's earnest money check is returned for insuffici...

Loan Point correct answers1% is 1 point. 1% of loan amount Loan Origination Fee correct answerscompensation for processing a new Mortage loan discount points correct answershelps permanently reduce loans interest buydown correct answersinterest pre-payment at closing to temporarily reduce i...