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National PSI EXAM PRACTICE TEST With Verified Correct Answers.
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National PSI EXAM PRACTICE TEST With Verified Correct Answers.
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National PSI EXAM PRACTICE TEST WithVerified Correct Answers
Real nnEstate nnlaw nngoverning nnadvertising nnapplies nnto nnall nnof nnthese nnEXCEPT: nn
A. nnIn nnhouse nnnotes nnfor nnshowing
B. nnMultiple nnlisting nnservice nn(MLS)
C. nncommunications nnwith nnconsumers
D. nnSocial nnMedia nn- nnANSWER: nn✔ nnA. nnIn-house nnnotes nnfor nnshowing nnare nnnot nnseen nnby nnconsumers nnan
nnso nndo nnnot nnhave nnto nnfollow nnstate nnor nnfederal nnlaws.
A nncouple nnaccompanies nna nnproperty nninspector nnduring nnan nninspection nnof nna nnhouse nnon nnwhich nnthey
nnhave nna nncontract. nnThe nninspector nnpoints nnto nna nnsix-inch nncrack nnat nnthe nncorner nnof nna nndining nnroom
nnwindow. nnThe nncrack nnis nnan nnexample nnof nn: nn
A. nnA nnstructural nndefect nn
B. nnA nnpatent nnDefect nn
C. nna nnlatent nndefect nn
D. nnan nnenvironmental nndefect nn- nnANSWER: nn✔ nnB. nnA nnpatent nndefect nnis nneasily nnvisible nnwhen nninspecting
nna nnproperty. nn(another) nnterm nnfor nnmaterial)
An nneligible nnveteran nnmade nnan nnoffer nnof nn$225,000 nnto nnpurchase nna nnhome nncontingent nnupon
nnobtaining nna nnno-down nnpayment nnU.S nndepartment nnof nnVeterans nnAffairs nn(VA) nnguaranteed nnloan.
nnThree nnweeks nnafter nnthe nnoffer nnwas nnaccepted, nnthe nnVA nnissued nna nncertificate nnof nnreasonable nnvalue
nn(CRV) nnfor nnthe nn$222,000 nnfor nnthe nnproperty. nnIn nnthis nncase, nnthe nnveteran nnmay: nn
A. nnwithdraw nnfrom nnthe nnsale nnwith nna nnthree-point nnpenalty nn
B. nnwithdraw nnfrom nnthe nnsale nnon nnpayment nnof nna nncommission nnto nnthe nnseller's nnbroker nn
C. nnpurchase nnthe nnproperty nnby nnmaking nna nn$3,000 nncash nnpayment
D. nnseek nnsecondary nnfunding nnfor nnthe nn$3,0000 nn- nnANSWER: nn✔ nnC. nnWhen nnthe nnpurchase nnprice nnof nna
nnproperty nnis nngreater nnthan nnthe nnVA-issued nn(CRV), nnthe nnveteran nnmay nnpay nnthe nndifference nnin nncash nnto
nnpurchase nnthe nnproperty nnbecause nnsecondary nnfinancing nnis nnsomewhat nnrestricted nnunder nnVA
nnregulations.
, General nnreal nnestate nnproperty nntaxes nnlevied nnfor nnthe nnoperation nnof nnthe nngovernment nnare nncalled: nn
A. nnspecial nntaxes
B. nnad nnvalorem nntaxes
C. nnimprovement nntaxes nn
D. nnspecial nnassessment nntaxes nn- nnANSWER: nn✔ nnB.
Under nncurrent nnRegulations, nna nnU.S. nndepartment nnof nnVeteran nnAffairs nn(VA) nnloan nnis nnassumable nnif: nn
A. nnThe nnVA nnapproves nnboth nnthe nnbuyer nnand nnthe nnassumption nnagreement nn
B. nnthe nnveteran nnagrees nnnot nnto nnrequest nna nnreleases nnof nnliability nnfor nnrepayment nn
C. nnthe nnVA nnapproves nnthe nnbuyer nnonly nn
D. nnthe nnVA nnapproves nnthe nnassumption nnof nnthe nnagreement nnonly nn- nnANSWER: nn✔ nnA. nn
for nnVA nnloans nnmade nnafter nnMarch nn1, nn1988 nnthe nnVA nnmust nnapprove nnboth nnthe nnbuyer nnand nnthe
nnassumption nnagreement nnbefore nnthe nnloan nnmay nnbe nnassumed.
During nnthe nnperiod nnof nntime nnafter nna nnreal nnestate nnsales nncontract nnis nnsigned, nnbut nnbefore nntitle
nnactually nnpasses, nnthe nnstatus nnof nnthe nncontract nnis:
A. nnexecutory nn
B. nnvoidable
C. nnexecuted
D. nnunilateral nn- nnANSWER: nn✔ nnA. nn
A nncontract nnis nnin nnexecutory nnstatus nnwhen nnits nnterms nnof nnagreement nnhave nnnot nnyet nnbeen nncarried
nnout.
If nnthere nnis nna nndiscrepancy nnbetween nna nnresidential nnlot nnsize nnquoted nnin nna nnlisting nncontract nnand nnthe
nnactual nnlot nnsize, nnthe nnactual nnlot nnsize nnthat nnwill nnprevail nnin nna nnsales nntransaction nnwill nnbe nnfound nnin nn:
A. nnthe nnMLS nn
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