PSI Real Estate Salesperson Exam (Latest 2023/ 2024 Update) 100% Correct| Questions and Verified Answers| Already Grade A
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 seller.
Q: Sources of groundwater contamination do NOT include:
Answer:
radon
Q: Your neighbor has given you revocable permission to go hunting on his farm. You have
a(n):
Answer:
license
Q: A claim based on adverse possession of property must NOT be:
Answer:
secretive
Q: A man gives his friend the right to go hunting on his property for just one day this is an
example of:
Answer:
a license
Q: A person who receives real property by will is called:
Answer:
devisee
Q: Riparian rights would exist in a:
Answer:
cooperative on a river
Q: A developer was able to buy two adjoining single-family lots for $20,000 each. He
combined the lots into one parcel with a value of $90,000. The developer’s action reflects the
process of:
Answer:
plottage
Q: A restaurant opened in a neighborhood and was enjoying substantial profits. Within a year
another restaurant was built across the street and resulted in the first restaurant losing, in the next
year, 30 percent of profits. This is an example of the principle of:
Answer:
Competition
Q: A meatpacking plant has just been built one block from your house. The strong odors are
lowering property values in your neighborhood. The loss in value would be classified as:
Answer:
external obsolescence
Q: In the appraisal of a public building, an appraiser would use the:
Answer:
cost approach
Q: A four-bedroom house with one bathroom would be an example of:
Answer:
physical deterioration
Q: Which of the following is NOT a stage in the appraisal process?
Answer:
Analyze the tax consequences of the property owner.
Q: An appraiser uses the cost approach in appraising a home. The appraiser should NOT use
which of the following types of information?
Answer:
Depreciation of land
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