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PSI PA REAL ESTATE EXAM (2024 / 2025) Actual Questions and Verified Answers, 100% Guarantee Pass
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PSI PA REAL ESTATE EXAM (2024 / 2025) Actual Questions and Verified Answers, 100% Guarantee Pass
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PSI PA REAL ESTATE EXAM.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/PSI%20PA%20PSI PA REAL ESTATE EXAM
QUESTIONS & ANSWERS
1. Severance
Answer the performance of turning real property into personal property
2. What is the main difference between tendency in common and joint ten-
dency is that with tendency in common, when a co-owner dies?
Answer the undividedinterest passes to his heirs
3. A tenant rented an apartment signing a 15 month lease. After the lease ex-
pired, the tenant paid 1 month's rent and got a receipt. What kind of leasehold
does this tenant have?
Answer Tenancy at will
4. Although states make specific laws governing water rights and the rights in
land that borders water, most states generally follow one of two basic doctrines
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,PSI PA REAL ESTATE EXAM.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/PSI%20PA%20
regarding water rights. Either riparian and littoral rights are auto- matically
conveyed with property, or all water rights are controlled by the stateunder the
doctrine of?
Answer prior appropriation
5. Legal description using the government survey system are not generally
used in?
Answer the original 13 states
6. An owner hired a construction company to build a swimming pool at a new
home. The owner failed to pay the bill once the work was completed and the
construction company filed a lien to obtain payment of the debt.The
encumbrance created is called?
Answer a mechanic's lien
7. Building codes are?
Answer ordinances that specify construction standards
8. An environmental impact statement (IES)
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,PSI PA REAL ESTATE EXAM.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/PSI%20PA%20
Answer projects the impact on environmentor proposed project
9. A lawsuit for inverse condemnation may be brought by
Answer the homeowner
10. A deed restriction is applicable to the activities of?
Answer all owners present andfuture
11. A land owner wishes to build a neighborhood grocery store on a busy street
in an area zoned for residential use. What would most likely be used toobtain
permission for this store?
Answer Conditional use permit or zoning variance
12. When preparing a market data estimate of value, what category of adjust-
ment is NOT essential?
Answer the original cost of the building
13. Depreciation is calculated based on the?
Answer cost of the building only
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