PSI REAL ESTATE STATE EXAM NJ QUESTION AND ANSWERS

PSI REAL ESTATE STATE EXAM (NJ) QUESTION AND ANSWERS
Question : Water Rights
Correct answer: The terms "littoral," "riparian," and
"appropriative" refer to
Question : A salesperson lists a property with a contract that
allows for subagency and dual agency. The salesperson is
Correct answer: an agent to the broker and a subagent to the
principal.
Question : Depreciation is calculated based on the
Correct answer: Cost of the building only.
Question : When a property owner uses his home as collateral
for a loan and creates a lien in favor of the lender, title is held by
the
Correct answer: mortgagor
Question : A competitive market analysis is MOST often used
for

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