PSI NATIONAL REAL ESTATE 85 QUESTIONS AND ANSWERS PSI NATIONAL REAL ESTATE 85 QUESTIONS AND ANSWERS PSI NATIONAL REAL ESTATE 85 QUESTIONS AND ANSWERS PSI NATIONAL REAL ESTATE 85 QUESTIONS AND ANSWERS PSI NATIONAL REAL ESTATE 85 QUESTIONS AND ANSWERS
PSI NATIONAL REAL ESTATE 85
QUESTIONS AND ANSWERS
1. A legal description in land that includes language like "the old oak tree"
or
"the big rock" would be: Metes and bounds
2. 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.
3. All the following are protected classifications except: Homosexuals
4. 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
5. In a rescission agreement:: All parties return to original position and earnest
money is refunded
6. 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
7. A seller is listing their $350,000 house. They state their property tax bill
is
1/8
, $1,110 per year. What should the agent do?: Verify the information with the
county
8. A home warranty will typically provide coverage for which of the
following:-
: Electrical and plumbing systems
9. 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
10. 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
11. What statement is true about asbestos removal: Encapsulation is the
safest tactic
12. An easement is: The right to use another's land
13. The amount to list a property is best determined by:: Competitive Market
Analysis (CMA)
14. Interest on a security deposit Starts:: The month the Property Manager
receives the security deposit
15. Racial discrimination is allowed:: NEVER
16. An agent goes door knocking in a subdivision. As part of his
presentation, he makes
2/8
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