PSI Real Estate Actual Exam 2024 Questions Solved 100% Correct
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Course
PSI Real Estate
Institution
PSI Real Estate
What type of mortgage loan is likely to be tied to a publicly available index that is
mutually acceptable to the lender and the borrower? - Answer adjustable mortgage rate
The major advantage of ownership in severalty is - Answer flexibility in making decisions
A broker lists several newly const...
PSI Real Estate Actual Exam 2024 Questions
Solved 100% Correct
What type of mortgage loan is likely to be tied to a publicly available index that is
mutually acceptable to the lender and the borrower? - Answer adjustable mortgage rate
The major advantage of ownership in severalty is - Answer flexibility in making decisions
A broker lists several newly constructed affordable homes of a builder client. The broker
wishes to advertise the homes targeting first time buyers. Which of the following
financing terms in the advertisement would trigger further financial disclosure
requirements under the Truth in Lending Act? - Answer buy for less than $5,000 down
with monthly payments under $500
What possible consequence would the knowledge of a Megan's Law registrant in the
neighborhood cause?What possible consequence would the knowledge of a Megan's
Law registrant in the neighborhood cause? - Answer Values in a single family, owner
occupied neighborhood may decline due to the presence of a convicted sex offender
a letter of intent - Answer forms a basis for further negotiations
Which of the following is a health hazard that results from the decay of natural
radioactive materials? - Answer radon
Prospective buyers for a house want to operate a recycling center in their back yard.
Local zoning laws do not allow this. What do they need to do first? - Answer Obtain a
variance or special exception
Which of the following types of deeds provides the grantee with the least protection? -
Answer quitclaim
,The definition of "market price" is - Answer the actual sale price of the property
Zoning ordinances are typically established by - Answer town and city governments
A developer intends to subdivide a large parcel of land and is in the process of land
planning. He has determined the geographic boundaries of the individual lots and how
the streets in the development will be designed to give access to each lot. When can he
begin to list lots for sale w/ a broker? - Answer when he has submitted his plat map to
local authorities, received approval, and recorded it
The listing broker has been presented with multiple offers. The seller has said he would
accept only a cash offer on his home, so the broker will present - Answer all offers to the
seller
With reference to a loan, the principal is the - Answer total amount borrowed
The legal remedy for canceling a contract and restoring the parties to their original
positions is called - Answer rescission
The sellers have listed their property for sale because they are in a difficult financial
situation and would like to get the house sold quickly. If one of the other sellers in the
area asks why that client is selling, the listing agent should respond by explaining that
they - Answer are looking to sell their home
The agent owes care, accounting, confidentiality, and disclosure to the - Answer the
client
, The purchase and sales agreement provides for the release of earnest money to the
seller after the buyer's property inspection. The seller requests the earnest money prior
to the property inspection. The broker should - Answer refuse to release the earnest
money
An important function of zoning laws is to - Answer ensure confirming land use
What is required to establish mutual assent? - Answer meeting of the minds
In a mortgage/trust deed form of loan, the terms of payment and interest rate would be
found on the - Answer promissory note
A competitive market analysis is used to estimate the - Answer most probably price a
property will bring
An escrow or trust account is often held by a lender to pay - Answer property taxes and
insurance payments
The broker has noticed that a great number of people who are buying in the
neighborhood where his listing is located speak Russian. He also noticed a Russian
grocery store right by the neighborhood that was attractive. He decides to stop the
advertising the property and started adverting the property on two different Russian
internet sites. This is: - Answer Acceptable if the advertisement includes no preferential
language
The buyer asks if there are any sex offenders in the neighborhood. The agent's MOST
appropriate response would be to: - Answer give the buyer the website address so the
buyer can look up that information
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