PSI NATIONAL REAL ESTATE QUESTIONS with
correct answers
A legal description in land that includes language like "the old oak tree"
or "the big rock" would be Correct Answer-Metes and bounds
As a licensee is showing a property contiguous to a lake, the licensee
notices that the lake has a large amount of algae. The buyer wishes to
make an offer. What should the licensee do? Correct Answer-Encourage
the buyer to have an authoritative party investigate the algae growth.
All the following are protected classifications except Correct Answer-
Homosexuals
As licensees usually work as independent contractors, a broker will have
a contract
for the independent contractor which (for federal purposes) must outline
Correct Answer-Statement that FICA (taxes) are the associates
responsibility
In a rescission agreement: Correct Answer-All parties return to original
position and earnest money is refunded
Agent A has been working at Brokerage for 4 years. Agent has listed
and sold many but desires to try industrial office sales. What is the best
course of action for houses Agent A? Correct Answer-Move license to
an industrial/office
, company and train under them
A seller is listing their $350,000 house. They state their property tax bill
is $1,110 per year. What should the agent do? Correct Answer-Verify
the information with the county
A home warranty will typically provide coverage for which of the
following: Correct Answer-Electrical and plumbing systems
The local governments have authority to ensure that properties are being
built properly. Under the authority of police power, the government can
adapt and implement: Correct Answer-Construction standards
A married couple owns a property together as tenancy in entirety. Which
of the following about selling a property as tenancy in entirety is true?
Correct Answer-Both spouses must sign the conveyance
What statement is true about asbestos removal Correct Answer-
Encapsulation is the safest tactic
An easement is Correct Answer-The right to use another's land
The amount to list a property is best determined by: Correct Answer-
Competitive Market Analysis (CMA)
correct answers
A legal description in land that includes language like "the old oak tree"
or "the big rock" would be Correct Answer-Metes and bounds
As a licensee is showing a property contiguous to a lake, the licensee
notices that the lake has a large amount of algae. The buyer wishes to
make an offer. What should the licensee do? Correct Answer-Encourage
the buyer to have an authoritative party investigate the algae growth.
All the following are protected classifications except Correct Answer-
Homosexuals
As licensees usually work as independent contractors, a broker will have
a contract
for the independent contractor which (for federal purposes) must outline
Correct Answer-Statement that FICA (taxes) are the associates
responsibility
In a rescission agreement: Correct Answer-All parties return to original
position and earnest money is refunded
Agent A has been working at Brokerage for 4 years. Agent has listed
and sold many but desires to try industrial office sales. What is the best
course of action for houses Agent A? Correct Answer-Move license to
an industrial/office
, company and train under them
A seller is listing their $350,000 house. They state their property tax bill
is $1,110 per year. What should the agent do? Correct Answer-Verify
the information with the county
A home warranty will typically provide coverage for which of the
following: Correct Answer-Electrical and plumbing systems
The local governments have authority to ensure that properties are being
built properly. Under the authority of police power, the government can
adapt and implement: Correct Answer-Construction standards
A married couple owns a property together as tenancy in entirety. Which
of the following about selling a property as tenancy in entirety is true?
Correct Answer-Both spouses must sign the conveyance
What statement is true about asbestos removal Correct Answer-
Encapsulation is the safest tactic
An easement is Correct Answer-The right to use another's land
The amount to list a property is best determined by: Correct Answer-
Competitive Market Analysis (CMA)
