PSI EXAM PRACTICE QUESTIONS AND ANSWERS (100% PASS)
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Course
PSI
Institution
PSI
PSI EXAM PRACTICE QUESTIONS AND
ANSWERS (100% PASS)
Federal Truth-in-Lending laws are also known as - Answer️️ -Regulation Z
A salesperson qualified a minority couple with two children and defined their price
range as between $110,000 and $120,000 for the three-bedroom house they
wanted. T...
PSI EXAM PRACTICE QUESTIONS AND
ANSWERS (100% PASS)
Federal Truth-in-Lending laws are also known as - Answer✔️✔️-Regulation Z
A salesperson qualified a minority couple with two children and defined their price
range as between $110,000 and $120,000 for the three-bedroom house they
wanted. They asked to look at two listings in a nonminority neighborhood. The
salesperson did not show them the properties because they were priced under
$90,000 and had only two small bedrooms. Did the salesperson act appropriately
and why or why not? - Answer✔️✔️-No, because it is appropriate to show any
property for which the buyer is qualified.
An environmental impact statement typically describes the effects of a proposed
project on factors such as - Answer✔️✔️-public health and safety
When a principal authorizes an agent to perform a particular act or transaction, it is
an example of a - Answer✔️✔️-special agency
If an older building cannot be air-conditioned, it is an example of - Answer✔️✔️-
functional obsolescence
If a borrower can afford to make monthly principal and interest payments of
$1,000 and the lender will make a 30-year loan at 5-1/2%, or a 20-year loan at 4-
1/2%, what is the largest loan (rounded to the nearest $100) this buyer can afford?
(BE SURE TO USE THE AMORTIZATION TABLE.) - Answer✔️✔️-$176,100
A minority couple come to a salesperson looking for a house. The salesperson has
some properties for which the couple qualify but avoids showing or mentioning
these listings. Instead, the salesperson shows only properties in low-priced and
integrated neighborhoods. This practice is known as - Answer✔️✔️-steering
A homeowner has negotiated with a neighbor to obtain the permanent right to pass
over the northern part of the neighbor's land to gain access to the river. He pays the
neighbor $9,000 for the right of access and receives a deed. This is an easement -
Answer✔️✔️-Appurtenant
Attached to a specific parcel of land, transfers ("runs") with the land, and gives the
"dominant tenement" rights to use adjoining property/servient tenement
2
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