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PSI Exam Questions with correct Answers
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PSI Exam Questions with correct Answers
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PSI Exam Questions with correct AnswersAfrican American family would like to courtthisrent a clubhouse but the owners says no because it's a members only is License by eliminating easement through discrimination? - Answer- No, because it is members only
An example of the power of eminent domain? - Answer- Condemnation
The seller has a beautiful dining room ceiling fixture that matches his entire dining room set. If the sales contract does not specifically state whether the fixture is included in the sale or excluded from it, the buyers agent can tell the buyer to expect that the dining room fixture will be? - Answer- Included in the sale
Which of the following behaviors demonstrates the loyalty at broker owes to the seller who is his client - Answer- Broker tells buyers the sellers exact timeframe for moving to expedite the contract
A first-year licensee without either a degree in finance or a strong background and reinvestments should generally refrain from? - Answer- Giving advice in investing
Not a necessary part of the process for changing zoning regulations - Answer- Voting
A condominium complex is exempt from their housing requirements regarding housing for families with children in it? - Answer- If the capacity is 80% seniors 65 and older
A sales person just attended a class on using social media to further her real estate sales career. She was so excited about the class that she immediately came home and signed up for Facebook, Twitter, and LinkedIn. She has chosen a listing to market via social networking a residence recently built to resemble and antebellum mansion. Which wording or phrases may she lawfully include in her advertising? - Answer- Antebellum style mansion
Which of the following is true about a competitive market analysis? - Answer- Performed
by agent not formal appraisal
I buyer received a sellers property condition disclosure in which the buyers agent believes the seller has misrepresented the condition of the property. The buyers agent should? - Answer- Point out his or her concerns to the buyer and recommend further inspection or investagation A borrower who is making payments on a loan was required to make a balloon payment
at the end of the loan. This is most likely a? - Answer- Partially amortized
Who pays for you to be fingerprinted? - Answer- Real estate agent
Which of the following is the best example of the protection offered by fair housing laws to a person with a disability? - Answer- Blind man with a dog
After making three sales in 6 weeks to growing families with young children in a neighborhood. The agent went door-to-door suggesting that homeowners who enjoyed living in their quiet neighborhood should sell because children are going to be noisy. This is an example of? - Answer- Blockbusting
Which of the following statements is the BEST example of puffing - Answer- This is the Best Buy you'll find all year
How is the earnest money deposit usually applied at closing on a settlement statement?
- Answer- Credit to buyer
A property is surveyed to determine a legal description. The surveyor works from a point
of beginning, and measures terminal points and angles. What method of land description is he using? - Answer- Metes and Bounds
A buyer has discovered a defect in the title and has suffered a loss due to the defect. The title company has compensated the buyer for the loss. Subsequently, The buyer is awarded a judgement against the seller. The title company is entitled to a portion of the judgement as a reimbursement for the claim it paid. - Answer- Subrogation
Prepaid taxes appear as? - Answer- Credit to seller / Debit to seller
You have someone who is under 18 but will be 18 before the closing is this voidable, executed, executory, or void. - Answer- Voidable
When a client is requesting law information - Answer- Give them website information for
them to research
A buyer has been looking at homes and is very familiar with the area. She has found a home she really likes. You, the agent finds out that the nearby railroad will be expanding, what should the agent do? - Answer- Disclose the information because it may affect buyers decision
What is a discount point - Answer- Points increase yield to lender
If an agent thinks the buyer will probably not get financed what should the agent do? - Answer- Refer them to get pre-qualified
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