PSI exam Questions with complete solution 2022 Graded A+
what would prevent a seller from providing marketable title -Answer- Mechanics lien
the seller has required that the buyer must use his title insurance compa
...
PSI exam Questions with complete solution 2022 Graded A+
what would prevent a seller from providing marketable title -Answer- Mechanics lien
the seller has required that the buyer must use his title insurance company and that brokers reduce their portion of the real estate commission, increasing the sellers net proceeds -Answer- This is illegeal according to respa
If a license mentions MLS when advertising, the advertisement must include -Answer- the name of the MLS
According to the New Jersey Real estate Licensing Laws, which of the following is a requirement for any advertisement made by a salesperon -Answer- Name of the salesperson firm
A license may use the term "Realtor" or "realtor associate" only if the licensee is -Answer- a member of the national association of realtors
Which of the following would automatically be included in the sale of property -Answer- Plumbing fixtures
a seller is offering his property for sale in as is condition. a buyer enters into a contract with the seller. The buyer -Answer- can void the contract due to the sellers failure to disclose the latent defect
Maintains a real estate agency and terminated two salespersons, in this situation, the broker is required to take all the following steps except -Answer- Permit them to remove original sales and listing contracts from the brokers office
What should buyers insert into the purchase offer to make sure they would not have to go through with the purchase if they are not met -Answer- contingencies
A potential buyer signs a contract with a seller but then decides not to buy. The seller may sue the potential buyer for specific preformance because the contract was a -Answer- bilateral contract
Standard title insurance policy would protect a buyer -Answer- When the seller has forged his ex-wife's signature on the deed
Under New Jersey Real Estate commission rules, a licensee's obligations to the public include all of the following except -Answer- Accepting any reasonable commission offered by a seller in the course of negotiating a listing agreement
When operating in a discloses dual agency relationship, a licensee must disclose the -Answer- Buyer being laid-off after submitting a mortgage application
A land contract is sometimes known as -Answer- Installment Contract
A 15 year old inherited some property from a grandparent. The 15 year old put the property for sale and recieved an offer. Can the 15 year old cancel the agreement to sell property? -Answer- Yes the contract is voidable because is a minor
"sell now before its too late" is an example of -Answer- blockbusting
Which of the following types of deeds provides the purchaser of real estate the greatest protection of any deed -Answer- General warranty deed
[Show More]
