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PSI National Real Estate Questions and Complete Solutions Graded A+
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PSI National Real Estate Questions and Complete Solutions Graded A+
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PSI National RealEstate Questions
and Complete
Solutions Graded
A+
Denning [Date] [Course title]
, A legal description in land that includes language like "the old oak tree" or "the big rock" would be -
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? - Answer: Encourage
the buyer to have an authoritative party investigate the algae growth.
All the following are protected classifications except - 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 - Answer: Statement that FICA
(taxes) are the associates responsibility
In a rescission agreement: - 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? - 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? - Answer: Verify the information with the county
A home warranty will typically provide coverage for which of the following: - 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: - 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? - Answer: Both spouses must sign the conveyance
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