Exam (elaborations)
NASCLA National PSI EXAM PRACTICE TEST 2024 With 100% Correct Answers Guarantee Pass
- Course
- Institution
NASCLA National PSI EXAM PRACTICE TEST 2024 With 100% Correct Answers Guarantee Pass
[Show more]
Seller
Follow
BESTGOODIES
Reviews received
Content preview
NASCLA National PSI EXAM PRACTICE TEST.pdf file:///C:/Users/HP/Desktop/New%20fo/NASCLA%20National%20NASCLA NATIONAL PSI EXAM PRACTICE TEST
1. Real Estate law governing advertising applies to all of these EXCEPT:
A. In house notes for showing
B. Multiple listing service (MLS)
C. communications with consumers
D. Social Media
Answer : A. In-house notes for showing are not seen by consumers an sodo not have to follow
state or federal laws.
2. A couple accompanies a property inspector during an inspection of a houseon which they
have a contract. The inspector points to a six-inch crack at the corner of a dining room
window.The crack is an example of :
A. A structural defect
B. A patent Defect
C. a latent defect
D. an environmental defect
1 of 30 9/10/2024, 8:06
,NASCLA National PSI EXAM PRACTICE TEST.pdf file:///C:/Users/HP/Desktop/New%20fo/NASCLA%20National%20
Answer : B. A patent defect is easily visible when inspecting aproperty. (another) term for
material)
3. An eligible veteran made an offer of $225,000 to purchase a home contingentupon
obtaining a no-down payment U.S department of Veterans Affairs (VA) guaranteed loan.
Three weeks after the offer was accepted, the VA issued a certificate of reasonable value
(CRV) for the $222,000 for the property. In thiscase, the veteran may:
A. withdraw from the sale with a three-point penalty
B. withdraw from the sale on payment of a commission to the seller's broker
C. purchase the property by making a $3,000 cash payment
D. seek secondary funding for the $3,0000
Answer : C. When the purchase price of a property is greater than the VA-issued (CRV), the
veteran may pay the difference incash to purchase the property because secondary financing is
somewhat restrictedunder VA regulations.
4. General real estate property taxes levied for the operation of the governmentare called:
A. special taxes
2 of 30 9/10/2024, 8:06
,NASCLA National PSI EXAM PRACTICE TEST.pdf file:///C:/Users/HP/Desktop/New%20fo/NASCLA%20National%20
B. ad valorem taxes
C. improvement taxes
D. special assessment taxes
Answer: B.
5. Under current Regulations, a U.S. department of Veteran Affairs (VA) loan isassumable
if:
A. The VA approves both the buyer and the assumption agreement
B. the veteran agrees not to request a releases of liability for repayment
C. the VA approves the buyer only
3 of 30 9/10/2024, 8:06
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 BESTGOODIES. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76658 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now