PSI Real Estate Salesperson Practice Test Questions and Correct Answers & Latest Updated
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Course
PSI REAL ESTATE
Institution
PSI REAL ESTATE
Legal descriptions using the government survey system are NOT generally used in
o :## the original 13 states.
A homeowner is willing to let his neighbor park an RV in his backyard. He does NOT want to
make the permission permanent in case he dislikes others who might move next door in the
fut...
PSI Real Estate Salesperson Practice Test
Questions and Correct Answers & Latest
Updated
Legal descriptions using the government survey system are NOT generally used in
o :## the original 13 states.
A homeowner is willing to let his neighbor park an RV in his backyard. He does NOT want to
make the permission permanent in case he dislikes others who might move next door in the
future. What should he give his neighbor?
o :## A license.
A legal easement can be created by any of the following EXCEPT
o :## merger of the titles.
An owner hired a construction company to build a swimming pool at a new home. The
owner failed to pay the bill once the work was completed and the construction company
filed a lien to obtain payment of the debt. The encumbrance created is called
o :## a mechanic's lien.
A tenant rented an apartment, signing a 15-month lease. After the lease expired, the tenant
paid 1 month's rent and got a receipt. What kind of leasehold does the tenant have?
Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update
, 2|Page: 2024/2025 Grade A+
o :## Tenancy at will.
In the sale of property, there is often confusion over whether an item is a fixture or personal
property. What is the best way to avoid this confusion?
o :## Specify questionable items of property in the written sales contract.
Ordinances that specify construction standards are
o :## building codes.
If conditions for property use are included in a deed and these conditions are violated, what
is the most severe potential penalty?
o :## A court may order the return of the property to the original owner.
A deed restriction is applicable to the activities of
o :## present and future owners.
An escheat occurs when
o :## a property owner dies without heirs or a valid will.
All of the following are methods to calculate the reproduction or replacement cost of a
building EXCEPT the
o :## straight-line method.
A formal appraisal will ALWAYS be REQUIRED when the
Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update
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