Exam (elaborations)
PSI National real estate (often missed) with complete answers(verified for accuracy).
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PSI National real estate (often missed) with complete answers(verified for accuracy).
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PSI National real estate (oftenmissed) with complete
answers(verified for accuracy)
Broker - answer A person or company licensed to buy, sell,
exchange, or lease real property for others and to charge a fee for
these services.
Salesperson / affiliate broker - answer employed by or associated
with the broker to perform brokerage activities on behalf of or for
the broker
Appraisal - answer process of developing an opinion (estimate of
value) of a property's market value, based on established methods
and the appraiser's professional judgement.
Property Manager - answer A person or company hired to maintain
and manage property on behalf of the property owner; must have a
license in the state of TN
Subdivision - answer the act of dividing land into pieces that are
easier to sell or otherwise develop.
Development - answer involves preparation of a site and
construction of structures or other improvements
Home Inspection/Inspector - answer conducts a thorough visual
survey of a property's structures, systems, and site conditions and
prepares an analytical report that is valuable to both purchasers
and homeowners
, Types of Real Property - answer residential, commercial, mixed-
use, industrial, agricultural, and special purpose
Residential Real property - answer all property used for single-
family or multifamily housing, whether in urban, suburban, or rural
areas
Commercial Real Property - answer Business property, including
office space, shopping centers, stores, theaters, hotels, and parking
facilities
Mixed-Use Real Property - answer property that allows for two
uses, commercial and residential, in the same building
Industrial Real Property - answer Warehouses, factories, land in
industrial districts, and power plants
Agricultural Real Property - answer farms, timberland, ranches,
and orchards
Special Purpose Real Property - answer Privately owned
properties, such as places of worship, schools, and cemeteries, as
well as publicly held properties, such as schools, municipal service
buildings, and parks.
Single-family detached house - answer one of the most popular
housing types; has been adapted in urban areas to take the form of
row housing that may share a wall with an adjoining property.
Accessory Dwelling Unit (ADU) - answer A separate housing
arrangement within a single-family home. The ADU is a complete
living unit and includes a private kitchen and bath.
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