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PSI NJ REAL ESTATE EXAM,PSI PRACTICE TEST ACTUAL EXAM COMPLETE 140 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW!!. $17.99
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PSI NJ REAL ESTATE EXAM,PSI PRACTICE TEST ACTUAL EXAM COMPLETE 140 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW!!.
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PSI NJ REAL ESTATE EXAM,PSI PRACTICE TEST ACTUAL EXAM COMPLETE 140 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW!!.

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  • October 9, 2024
  • 24
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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PSI NJ REAL ESTATE EXAM,PSI PRACTICE TEST ACTUAL
EXAM COMPLETE 140 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+||BRAND NEW!!.



When compiling a competitive market analysis, a broker would look for
comparable properties that ✔✔ANSWER✔✔were located near the property
being listed.


The power vested in the government to establish legislation to preserve
order, protect the public health and safety, and promote the general welfare
is known as ✔✔ANSWER✔✔police power


If a borrower can afford to make monthly principal and interest payments of
$1,000 and the lender will make a 30-year loan at 8-1/2%, how large a loan
(rounded to the nearest $100) can this buyer afford? (BE SURE TO USE THE
AMORTIZATION TABLE.) ✔✔ANSWER✔✔$130,000


An Environmental Impact Statement (EIS) ✔✔ANSWER✔✔projects the
impact on the environment of a proposed project.


In an exclusive right-to-sell listing, an owner lists the property for sale with
how many brokers? ✔✔ANSWER✔✔One

,A prospective buyer made an offer to purchase a property. The owner
responded with a counteroffer. While the buyer was reviewing the
counteroffer, the owner received a better offer. The owner can accept the
second offer if ✔✔ANSWER✔✔the owner withdraws the counteroffer
before it is accepted.


Antitrust laws prohibit competing brokers from all of the following EXCEPT
✔✔ANSWER✔✔receiving compensation from both the buyer and the seller.


Without checking the facts, a broker who is the seller's agent tells a buyer
that the property taxes in a particular neighborhood are among the lowest in
the area. The buyer relies on the broker's statement and makes an offer on a
house in the neighborhood. Before closing, it is determined that the taxes
are actually among the highest in the area. The buyer could seek to rescind
the contract on the basis of ✔✔ANSWER✔✔misrepresentation


The sellers have agreed to give the buyers an allowance of $16.95 per square
yard to retile the kitchen. If the kitchen is 10 feet x 14 feet, how much will it
cost the sellers (to the nearest dollar)? ✔✔ANSWER✔✔$264


Three identical homes in a neighborhood were listed at the same time in a
market where demand was constant. According to the law of supply and
demand, which would have sold for the lowest price? ✔✔ANSWER✔✔the
first sold


Which of the following is the first action to take when mold problems are
found? ✔✔ANSWER✔✔Identify and remedy the cause of the problems.

, A borrower has defaulted on the mortgage. The mortgage contains an
acceleration clause. This permits the lender to ✔✔ANSWER✔✔demand
immediate payment of the entire note.


A buyer is getting a fully amortized loan for $220,000. The bank will give the
buyer the loan for 15 years at 5 1/2% or for 30 years at 6 1/2%. To the
nearest cent, what is the difference between the monthly payments for
these two loans? (BE SURE TO USE THE AMORTIZATION TABLE.)
✔✔ANSWER✔✔$409.20


A property management plan may serve different purposes for different
owners, and generally has to strike a balance between preservation of the
property's value and generation of income. Which of the following owners
would MOST likely prefer a property manager who emphasizes maintenance
of value over profitability? ✔✔ANSWER✔✔An individual entrepreneur who
owns several apartment buildings.


A written agreement in which a purchaser agrees to buy and a seller agrees
to sell is called ✔✔ANSWER✔✔a contract


Errors and Omissions insurance covers the broker for
✔✔ANSWER✔✔Unintentional misrepresentation


An example of a contract terminated due to inability to perform would be
one in which the ✔✔ANSWER✔✔seller had contracted for sale of the entire
property without the knowledge or consent of the other joint tenant.

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