Real PSI QUESTIONS WITH COMPLETE SOLUTIONS

According to the CAN SPAM Act, every email advertisement for real estate services must do all of the following EXCEPT correct answer: advise the recipient that it will take 180 days to remove the recipient's name from this email list Which disclosure is the most commonly required in a residential real estate sale correct answer: Seller's property disclosure A complaint must be filed w/ HUD within what period of time after a fair housing violation has occurred? correct answer: C) 1 year A MAJOR difference between freehold and nonfreehold estates is that all nonfreehold estates correct answer: are estates for a fixed term A buyer's agent is NOT permitted to tell a buyer that: correct answer: a former occupant of a property had AIDS A couple applied for a loan to finance the purchase of a new home. What Federal Act was created to ensure that they have knowledge of all closing costs? correct answer: Real Estate Settlement Procedures Act A property was listed w/ a broker, but the owners advertising the property found a buyer and negotiated the sale themselves. After the closing, the owners paid a full commission to the broker. The broker MUST have had correct answer: an exclusive right to sell A contract is terminated if correct answer: it is impossible for one of the parties to perform A low loan-to-value ratio indicates a correct answer: higher equity in the property