PSI Exam Questions And Solutions
A first-year licensee without either a degree in finance or a strong background and
reinvestments should generally refrain from? - ANSWER -Giving advice in investing
Not a necessary part of the process for changing zoning regulations - ANSWER -
Voting
A condom...
PSI Exam Questions And Solutions
A first-year licensee without either a degree in finance or a strong background and
reinvestments should generally refrain from? - ANSWER -Giving advice in investing
Not a necessary part of the process for changing zoning regulations - ANSWER -
Voting
A condominium complex is exempt from their housing requirements regarding housing
for families with children in it? - ANSWER -If the capacity is 80% seniors 65 and older
A sales person just attended a class on using social media to further her real estate
sales career. She was so excited about the class that she immediately came home and
signed up for Facebook, Twitter, and LinkedIn. She has chosen a listing to market via
social networking a residence recently built to resemble and antebellum mansion.
Which wording or phrases may she lawfully include in her advertising? - ANSWER -
Antebellum style mansion
Which of the following is true about a competitive market analysis? - ANSWER -
Performed by agent not formal appraisal
I buyer received a sellers property condition disclosure in which the buyers agent
believes the seller has misrepresented the condition of the property. The buyers agent
should? - ANSWER -Point out his or her concerns to the buyer and recommend further
inspection or investagation
A borrower who is making payments on a loan was required to make a balloon
payment at the end of the loan. This is most likely a? - ANSWER -Partially amortized
Who pays for you to be fingerprinted? - ANSWER -Real estate agent
Which of the following is the best example of the protection offered by fair housing laws
to a person with a disability? - ANSWER -Blind man with a dog
After making three sales in 6 weeks to growing families with young children in a
neighborhood. The agent went door-to-door suggesting that homeowners who enjoyed
living in their quiet neighborhood should sell because children are going to be noisy.
This is an example of? - ANSWER -Blockbusting
Which of the following statements is the BEST example of puffing - ANSWER -This is
the Best Buy you'll find all year
How is the earnest money deposit usually applied at closing on a settlement
statement? - ANSWER -Credit to buyer
, A property is surveyed to determine a legal description. The surveyor works from a
point of beginning, and measures terminal points and angles. What method of land
description is he using? - ANSWER -Metes and Bounds
A buyer has discovered a defect in the title and has suffered a loss due to the defect.
The title company has compensated the buyer for the loss. Subsequently, The buyer is
awarded a judgement against the seller. The title company is entitled to a portion of the
judgement as a reimbursement for the claim it paid. - ANSWER -Subrogation
Prepaid taxes appear as? - ANSWER -Credit to seller / Debit to seller
You have someone who is under 18 but will be 18 before the closing is this voidable,
executed, executory, or void. - ANSWER -Voidable
When a client is requesting law information - ANSWER -Give them website information
for them to research
A buyer has been looking at homes and is very familiar with the area. She has found a
home she really likes. You, the agent finds out that the nearby railroad will be
expanding, what should the agent do? - ANSWER -Disclose the information because it
may affect buyers decision
What is a discount point - ANSWER -Points increase yield to lender
If an agent thinks the buyer will probably not get financed what should the agent do? -
ANSWER -Refer them to get pre-qualified
What type of clause would you put in a contract if a buyer couldn't get approved? -
ANSWER -Contingency
30. A woman wants to rent an apartment and move in December 8th. What is most
likely to happen? - ANSWER -Move in and pay prorated days
Disabled person wants to build a ramp in a rental? - ANSWER -Allow to build at renters
expense
Taxes on sewer is what? - ANSWER -Special Assessment Tax
A drawer for a Aclove being taken after the property is sold? - ANSWER -The drawer is
personal property
A formal appraisal will ALWAYS be REQUIRED when the? - ANSWER -Lender wants
to sell the mortgage to the secondary market
A seller mentions to his agent that the previous owners of his property may have
dumped hazardous waste on the site. Under the compensation, and liability ACT
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