Psireal - Study guides, Class notes & Summaries

PSI Real Estate Salesperson Exam (Latest 2023/ 2024) 100% Correct| Questions and Verified Answers| Grade A Q: Which of the following statements does NOT correctly describe a legal life estate? 1. During his or her life estate the life tenant is generally answerable to the holder of the future interest. 2. The life tenant may not commit any acts that would permanently injure the property. 3. There may be a reversionary interest. 4. There may be a remainder interest. Answer: 1. Duri...

PSI Real Estate Salesperson Exam (Latest 2023/ 2024 Update) 100% Correct| Questions and Verified Answers| Already Grade A Q: Strict liability under Superfund means that: Answer: the owner is responsible to the injured party without excuse. Q: Which of the following does NOT correctly describe how real estate licensees should handle the possibility of hazardous substances on property being sold? Answer: Licensees should not disclose the problem because it might harm the sell...

PSI Salesperson Real Estate Practice Exam Version 1 (2023/ 2024 Update) | Questions and Verified Answers|100% Correct Q: Federal Truth-in-Lending laws are also known as 1. the Freedom of Information Act. 2. the Equal Credit Opportunity Act. 3. Regulation Z. 4. Title VIII. Answer: Regulation Z. Q: The FHA functions MOST like 1. a bank or savings and loan association. 2. a mortgage company. 3. an investment group. 4. an insurance company. Answer: an insurance compan...