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PSI REAL ESTATE – PART 2 Q&A $13.99   Add to cart

Exam (elaborations)

PSI REAL ESTATE – PART 2 Q&A

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PSI REAL ESTATE – PART 2 Q&A

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  • April 4, 2023
  • 15
  • 2022/2023
  • Exam (elaborations)
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PSI REAL ESTATE – PART 2 Q&A
The ability of the government to acquire real property against the owner for
the benefit of the public. - Eminent Domain

When real property is conveyed to a party through a will. the real property is
referred by what term? - Devise

What is the most complete estate in real property? - Fee Simple

What is an exaggerated term from a real estate agent,that would be
considered not true? - Puffing

What is the process of arriving at a final market value conclusion from the
estimates of three appraisal approaches to value? - Reconciliation

A document in which a borrower certificate the amount owed on a mortgage
loan and the rate of interest. - Estoppel Certificate

This type of mortgage is based on the collateral security pledge of two
properties? - Blanket Mortgage

The actual, visible, hostile, notorious, taking of another's land under a claim of
title for a statutory period of time. - Adverse Possession

A phrase in a contract that requires the performance of a certain act within a
stated period of time. - Time is of the essence

The use of borrowed money to finance the bulk of an investment. -
Leverage

What is another name for Regulation Z? - Truth in Lending Act

What is the type of listing contract in which the owners employ one real estate
broker but the owners pay no commission fee if they sell their real estate to
someone who has not contacted the broker? - Exclusive Agency

, What is the official name of a tenant who remains in a leased property after
the lease expires. - Holdover Tenant

A typical business arrangement that is created when individual persons invest
money for real estate investments - Syndicate

This type of loan in which the principal as well as the interest is payable in
periodic installments over the term of the loan. - Amortized Loan

Number of member on the PA Real Estate Commission - 11

What is the profit call from the sale of real estate according to the IRS -
Capital Gain

The fact that value must be exchanged between the parties to a valid deed
refers to what real estate term. - Consideration

What legal action can be sought in court by a mortgagee to recover lost money
when the public sale of a forced foreclosed property does not pay off the
entire mortgage debt? - Deficiency Judgement

Rights to enter and exit land? - Ingress & Engress

Real estate licensee who supervises an incorporated business that sell lists of
available apartment units to prospective lessees. - Manager of Record

What is it called when a lender initiates a court process that will result in the
public sale of real property. - Foreclosure

What is the legal term for a buyer? - Vendee

What is the name of the party being represented in an agency relation ship?
- Principal

What the type of mortgage represents a junior lien in which the in which the
second lender is used to payoff the first lender? - Wraparound
Mortgage

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