PSI Real Estate Exam Questions with 100% Correct Verified Answers
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Course
PSI Real Estate
Institution
PSI Real Estate
Which of the clauses gives a lender the right to declare the entire debt due and payable
if the mortgaged property is either assumed without lender approval or sold with a
contract for deed without lender approval - Answer alienation clause
A woman owns a tract of land that also is a servient te...
PSI Real Estate Exam Questions with 100%
Correct Verified Answers
Which of the clauses gives a lender the right to declare the entire debt due and payable
if the mortgaged property is either assumed without lender approval or sold with a
contract for deed without lender approval - Answer alienation clause
A woman owns a tract of land that also is a servient tenement. The easement over,
through, or under the tract is a(n) - Answer encumbrance
In an exclusive-right-to-sell agreement, how many brokers are involved? - Answer one
The broker has listed an owner's home. This agreement will be terminated by all of the
following Except
-death of a listing salesman
-death of the owner
-death of the broker
-bankruptcy of the broker - Answer -death of a listing salesman
A drunken man signed an offer to purchase. The contract that he signed is. - Answer
voidable
The contract requires that the seller replace You sign an agreement to purchase a home
the damaged living room carpet. The carpet have chosen costs $18.95 per square you
yard plus $5.50 per square yard for installation. If the living room dimensions are as
illustrated below, how much will the seller for the job? have to pay for the job
,11' across the top
12' down the left side
14' across the bottom - Answer 11' across the top
12' down the left side
12' down the right side
14' across the bottom
$407.48
11' x 12' = 132' =132' sq ft of a rectangle 3'
1/2(3' x 12') = 1/2(36') = 18 sq ft, area of a triangle
132 + 18 =150 sq ft
to convert sq ft to sq yards, divide the number of sq ft by 9
150 ➗ 9 = 16.666 sq yards
$18.95 = $5.50 = $24.45, cost per sq yard
, $24.45 x 16.666 sq yards = $407.48
All of the following agency relationships could be used to describe a cooperating broker
in a real estate transaction EXCEPT
-a subagent
-an exclusive buyer's broker.
-a selling broker.
-a non-exclusive buyer's broker. - Answer -a subagent
An appraiser is trying to determine the value of an income property by capitalizing the
income stream. Which of the following factors will the appraiser use? - Answer Net
income
A partial release clause generally is found in a - Answer blanket mortgage.
All of the following scenarios would be considered discriminatory under federal fair
housing laws EXCEPT
-a man owns and lives in his four-unit apartment building, and he refuses to rent to
families with children
-a landlord charges higher security deposits to tenants with children.
-a landlord places all families in selected buildings in his apartment complex.
-a landlord refuses to rent to a pregnant woman - Answer -a man owns and lives in his
four-unit apartment building, and he refuses to rent to families with children
Which of the following is a requirement for a valid deed? - Answer It must contain a
granting clause
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