PSI NATIONAL REAL ESTATE-Questions with Correct Answers/ Verified/ 100% Pass
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Course
PSI NATIONAL REAL ESTATE
Institution
PSI NATIONAL REAL ESTATE
A legal description in land that includes language like "the old oak tree" or "the big rock" would be -
️️Metes and bounds
As a licensee is showing a property contiguous to a lake, the licensee notices that the lake has a large
amount of algae. The buyer wishes to make an offer. What should ...
PSI NATIONAL REAL ESTATE-Questions with Correct Answers/
Verified/ 100% Pass
A legal description in land that includes language like "the old oak tree" or "the big rock" would be -
✔️✔️Metes and bounds
As a licensee is showing a property contiguous to a lake, the licensee notices that the lake has a large
amount of algae. The buyer wishes to make an offer. What should the licensee do? -
✔️✔️Encourage the buyer to have an authoritative party investigate the algae growth.
All the following are protected classifications except - ✔️✔️Homosexuals
As licensees usually work as independent contractors, a broker will have a contract
for the independent contractor which (for federal purposes) must outline - ✔️✔️Statement that
FICA (taxes) are the associates responsibility
In a rescission agreement: - ✔️✔️All parties return to original position and earnest money is
refunded
Agent A has been working at Brokerage for 4 years. Agent has listed and sold many but desires to try
industrial office sales. What is the best course of action for houses Agent A? - ✔️✔️Move license to
an industrial/office
company and train under them
A seller is listing their $350,000 house. They state their property tax bill is $1,110 per year. What
should the agent do? - ✔️✔️Verify the information with the county
A home warranty will typically provide coverage for which of the following: - ✔️✔️Electrical and
plumbing systems
The local governments have authority to ensure that properties are being built properly. Under the
authority of police power, the government can adapt and implement: - ✔️✔️Construction
standards
, A married couple owns a property together as tenancy in entirety. Which of the following about
selling a property as tenancy in entirety is true? - ✔️✔️Both spouses must sign the conveyance
What statement is true about asbestos removal - ✔️✔️Encapsulation is the safest tactic
An easement is - ✔️✔️The right to use another's land
The amount to list a property is best determined by: - ✔️✔️Competitive Market Analysis (CMA)
Interest on a security deposit Starts: - ✔️✔️The month the Property Manager receives the security
deposit
Racial discrimination is allowed: - ✔️✔️NEVER
An agent goes door knocking in a subdivision. As part of his presentation, he makes
mention of the fact that many families with children are moving into the area and that house prices
are rising. He then recommends the owner should sell because he has a nice quiet subdivision of
older, mature families that are quiet. Is this discrimination - ✔️✔️Yes- he is blockbusting by playing
on the fears of consumers of protected class.
The purpose of an Agency Disclosure is: - ✔️✔️To inform the consumer of their representation
choices
The purpose of Regulation Z is: - ✔️✔️Disclose loan costs
interest rates on credit cards, loans, car loans, etc. are established by: - ✔️✔️Usury
The ways to terminate an Agency Agreement include all except: - ✔️✔️Unilateral cancellatio
Title Insurance covers all matters that are: - ✔️✔️Itemized on the title report
A purchaser in the secondary mortgage market is - ✔️✔️Federal National Mortgage Association
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