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PSI REAL ESTATE Questions and Correct Answers & Latest Updated

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The ability of the government to acquire real property against the owner for the benefit of the public. o :## Eminent Domain When real property is conveyed to a party through a will. the real property is referred by what term? o :## Devise What is the most complete estate in real property? ...

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  • August 25, 2024
  • 27
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • psi real estate questions and correct answers l

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  • PSI REAL ESTATE
  • PSI REAL ESTATE

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1|Page: 2024/2025 Grade A+




PSI REAL ESTATE Questions and Correct
Answers & Latest Updated
The ability of the government to acquire real property against the owner for the benefit of

the public.


o :## Eminent Domain



When real property is conveyed to a party through a will. the real property is referred by

what term?


o :## Devise



What is the most complete estate in real property?


o :## Fee Simple



What is an exaggerated term from a real estate agent,that would be considered not true?


o :## Puffing



What is the process of arriving at a final market value conclusion from the estimates of

three appraisal approaches to value?


o :## Reconciliation



A document in which a borrower certificate the amount owed on a mortgage loan and the

rate of interest.



Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update

,2|Page: 2024/2025 Grade A+

o :## Estoppel Certificate



This type of mortgage is based on the collateral security pledge of two properties?


o :## Blanket Mortgage



The actual, visible, hostile, notorious, taking of another's land under a claim of title for a

statutory period of time.


o :## Adverse Possession



A phrase in a contract that requires the performance of a certain act within a stated period

of time.


o :## Time is of the essence



The use of borrowed money to finance the bulk of an investment.


o :## Leverage



What is another name for Regulation Z?


o :## 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?


o :## Exclusive Agency




Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update

, 3|Page: 2024/2025 Grade A+


What is the official name of a tenant who remains in a leased property after the lease

expires.


o :## Holdover Tenant



A typical business arrangement that is created when individual persons invest money for

real estate investments


o :## 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.


o :## Amortized Loan



Number of member on the PA Real Estate Commission


o :## 11



What is the profit call from the sale of real estate according to the IRS


o :## Capital Gain



The fact that value must be exchanged between the parties to a valid deed refers to what

real estate term.


o :## 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?



Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update

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