PSI REAL ESTATE Part 2-Questions with Correct Answers/ Verified/ 100% Pass
8 views 0 purchase
Course
PSI NATIONAL REAL ESTATE
Institution
PSI NATIONAL REAL ESTATE
The ability of the government to acquire real property against the owner for the benefit of the
public. -️️Eminent Domain
When real property is conveyed to a party through a will. the real property is referred by what term?
-️️Devise
What is the most complete estate in real property? -�...
PSI REAL ESTATE Part 2-Questions with Correct Answers/ Verified/
100% Pass
The ability of the government to acquire real property against the owner for the benefit of the
public. - ✔️✔️Eminent Domain
When real property is conveyed to a party through a will. the real property is referred by what term?
- ✔️✔️Devise
What is the most complete estate in real property? - ✔️✔️Fee Simple
What is an exaggerated term from a real estate agent,that would be considered not true? -
✔️✔️Puffing
What is the process of arriving at a final market value conclusion from the estimates of three
appraisal approaches to value? - ✔️✔️Reconciliation
A document in which a borrower certificate the amount owed on a mortgage loan and the rate of
interest. - ✔️✔️Estoppel Certificate
This type of mortgage is based on the collateral security pledge of two properties? - ✔️✔️Blanket
Mortgage
The actual, visible, hostile, notorious, taking of another's land under a claim of title for a statutory
period of time. - ✔️✔️Adverse Possession
A phrase in a contract that requires the performance of a certain act within a stated period of time. -
✔️✔️Time is of the essence
The use of borrowed money to finance the bulk of an investment. - ✔️✔️Leverage
What is another name for Regulation Z? - ✔️✔️Truth in Lending Act
, What is the type of listing contract in which the owners employ one real estate broker but the
owners pay no commission fee if they sell their real estate to someone who has not contacted the
broker? - ✔️✔️Exclusive Agency
What is the official name of a tenant who remains in a leased property after the lease expires. -
✔️✔️Holdover Tenant
A typical business arrangement that is created when individual persons invest money for real estate
investments - ✔️✔️Syndicate
This type of loan in which the principal as well as the interest is payable in periodic installments over
the term of the loan. - ✔️✔️Amortized Loan
Number of member on the PA Real Estate Commission - ✔️✔️11
What is the profit call from the sale of real estate according to the IRS - ✔️✔️Capital Gain
The fact that value must be exchanged between the parties to a valid deed refers to what real estate
term. - ✔️✔️Consideration
What legal action can be sought in court by a mortgagee to recover lost money when the public sale
of a forced foreclosed property does not pay off the entire mortgage debt? - ✔️✔️Deficiency
Judgement
Rights to enter and exit land? - ✔️✔️Ingress & Engress
Real estate licensee who supervises an incorporated business that sell lists of available apartment
units to prospective lessees. - ✔️✔️Manager of Record
What is it called when a lender initiates a court process that will result in the public sale of real
property. - ✔️✔️Foreclosure
What is the legal term for a buyer? - ✔️✔️Vendee
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller MikeHarris. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
