100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
PSI NATIONAL REAL ESTATE-Questions with Correct Answers/ Verified/ 100% Pass $11.49   Add to cart

Exam (elaborations)

PSI NATIONAL REAL ESTATE-Questions with Correct Answers/ Verified/ 100% Pass

 9 views  0 purchase
  • Course
  • PSI NATIONAL REAL ESTATE
  • Institution
  • PSI NATIONAL REAL ESTATE

A legal description in land that includes language like "the old oak tree" or "the big rock" would be - ️️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 ...

[Show more]

Preview 2 out of 8  pages

  • August 7, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • PSI NATIONAL REAL ESTATE
  • PSI NATIONAL REAL ESTATE
avatar-seller
MikeHarris
PSI NATIONAL REAL ESTATE-Questions with Correct Answers/
Verified/ 100% Pass
A legal description in land that includes language like "the old oak tree" or "the big rock" would be -
✔️✔️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? -
✔️✔️Encourage the buyer to have an authoritative party investigate the algae growth.



All the following are protected classifications except - ✔️✔️Homosexuals



As licensees usually work as independent contractors, a broker will have a contract

for the independent contractor which (for federal purposes) must outline - ✔️✔️Statement that
FICA (taxes) are the associates responsibility



In a rescission agreement: - ✔️✔️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? - ✔️✔️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? - ✔️✔️Verify the information with the county



A home warranty will typically provide coverage for which of the following: - ✔️✔️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: - ✔️✔️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? - ✔️✔️Both spouses must sign the conveyance



What statement is true about asbestos removal - ✔️✔️Encapsulation is the safest tactic



An easement is - ✔️✔️The right to use another's land



The amount to list a property is best determined by: - ✔️✔️Competitive Market Analysis (CMA)



Interest on a security deposit Starts: - ✔️✔️The month the Property Manager receives the security
deposit



Racial discrimination is allowed: - ✔️✔️NEVER



An agent goes door knocking in a subdivision. As part of his presentation, he makes

mention of the fact that many families with children are moving into the area and that house prices
are rising. He then recommends the owner should sell because he has a nice quiet subdivision of
older, mature families that are quiet. Is this discrimination - ✔️✔️Yes- he is blockbusting by playing
on the fears of consumers of protected class.



The purpose of an Agency Disclosure is: - ✔️✔️To inform the consumer of their representation
choices



The purpose of Regulation Z is: - ✔️✔️Disclose loan costs



interest rates on credit cards, loans, car loans, etc. are established by: - ✔️✔️Usury



The ways to terminate an Agency Agreement include all except: - ✔️✔️Unilateral cancellatio



Title Insurance covers all matters that are: - ✔️✔️Itemized on the title report



A purchaser in the secondary mortgage market is - ✔️✔️Federal National Mortgage Association

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller MikeHarris. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

79373 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$11.49
  • (0)
  Add to cart