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PSI EXAM 3 Practice Questions and Answers (100% Pass)
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PSI EXAM 3 Practice Questions and Answers (100% Pass) Question 1 of 80 Portion Name : National Real Estate Salesperson Practice Exam 2015 Under the Federal Fair Housing Law, which of the following is considered discriminatory advertising? 1. "Nonsmoker preferred." 2. "Military discount." 3...

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  • August 31, 2024
  • 43
  • 2024/2025
  • Exam (elaborations)
  • Unknown

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  • psi exam 3 practice questions and answers 100 pa

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  • Cosmetology
  • Cosmetology

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©PREP4EXAMS2024/2025 REAL EXAMS DUMP Wednesday, August 7, 2024 9: 33 PM



PSI EXAM 3 Practice Questions and Answers (100% Pass)

Question 1 of 80

Portion Name : National Real Estate Salesperson Practice Exam 2015

Under the Federal Fair Housing Law, which of the following is considered
discriminatory advertising?

1.

"Nonsmoker preferred."

2.

"Military discount."

3.

"Seniors welcome."

4.

"Catholics preferred." - Answer✔️✔️-4.

"Catholics preferred."

When a listing broker is preparing an Offer to Purchase for a buyer customer,
contingencies involving inspections or approval by a third party should

1.

have short deadlines.

2.

be discouraged by the broker.

3.


1

,©PREP4EXAMS2024/2025 REAL EXAMS DUMP Wednesday, August 7, 2024 9: 33 PM


be stated as briefly as possible.

4.

be limited to mortgage arrangements. - Answer✔️✔️-1.

have short deadlines.

A broker has brought a ready, willing, and able buyer to a seller. In MOST listing
contracts, the broker has earned his commission when

1.

any offer is delivered to the seller.

2.

the seller accepts the offer.

3.

all contingencies are removed.

4.

the sale closes. - Answer✔️✔️-2.

the seller accepts the offer.

A real estate salesperson is representing only the buyer in a transaction. Which of
the following actions would be a violation of the salesperson's agency duties to the
client?

1.

disclosing the price the seller originally paid for the property

2.

disclosing the highest price the buyer is willing to pay



2

,©PREP4EXAMS2024/2025 REAL EXAMS DUMP Wednesday, August 7, 2024 9: 33 PM


3.

preparing a competitive market analysis

4.

identifying latent property defects - Answer✔️✔️-2.

disclosing the highest price the buyer is willing to pay

The day after a broker's listing on a house expired, it was listed with another broker
and offered in the MLS. Several days later, a third licensee called the first broker
and asked for the key to show the home. The broker should inform the caller that

1.

he is no longer the listing agent.

2.

he will set up an appointment for showing the home.

3.

he will leave the key under the door mat.

4.

the house is currently off the market. - Answer✔️✔️-1.

he is no longer the listing agent.

Legal descriptions using the government survey system are NOT generally used in

1.

the original 13 states.

2.

subdivisions.


3

, ©PREP4EXAMS2024/2025 REAL EXAMS DUMP Wednesday, August 7, 2024 9: 33 PM


3.

quitclaim deeds.

4.

mortgages or deeds of trust. - Answer✔️✔️-1.

the original 13 states.

Failure of a real estate agent to comply with Fair Housing practices is punishable
by

1.

license revocation only.

2.

criminal prosecution only.

3.

license revocation and criminal prosecution.

4.

probation. - Answer✔️✔️-3.

license revocation and criminal prosecution.

A landowner wishes to build a neighborhood grocery store on a busy street in an
area zoned for residential use. Which of the following would MOST likely be used
to obtain permission for this store?

1.

Deed amendment.

2.



4

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