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PSI National Real Estate Exam Questions and Complete Solutions Graded A+
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PSI National Real Estate Exam Questions and Complete Solutions Graded A+
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PSI National RealEstate Exam
Questions and
Complete Solutions
Graded A+
Denning [Date] [Course title]
, Martha was able to go to the closing and sign the paperwork to sell her mother's property while her
mother was in the hospital. How could this be possible?
1. Martha may have been named an executor of her mother's will.
2. Her mother may have had a power of attorney drawn up making Martha her attorney in fact.
3. Martha and her mother may own the property as joint tenants, so that Martha may sign as owner
4. Martha's mother's surgeon recommended that this be permitted to alleviate her mother's stress and
regarding this pending transaction - Answer: 2. Her mother may have had a power of attorney drawn up
making Martha her attorney in fact.
Janet is the property for a 20 unit building. What steps would she take when asked to prorate the rent if
a new tenant wants to move in on the 8th day of the month in June?
1. subtract 8 days from 365 to come up with the prorated rent per day
2. Divide the monthly rent by 30 days and multiply that number by 22
3. calculate the 22 day rental amount and add a prorated utility fee
4. advise the tenant that the first available move-in date is July 1 - Answer: 2. Divide the monthly rent
by 30 days and multiply that number by 22
In a jurisdiction where the common law of agency governs real estate activities, a broker has entered a
single agency relationship with the buyer. The broker has put together a list of properties but it was
based off how much commission he can make on this sale. What fiduciary duty did the broker violate?
1. confidentiality
2. loyalty
3. disclosure
4. caution - Answer: 2. loyalty
Why was asbestos often used as a construction material?
1. waterproof
2. fireproof
3. indestructible
4. cheap - Answer: 2. fireproof
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