PSI National real estate exam (Complete Questions Answered 100% Correct) Latest 2024-2025

Document Content and Description Below

Martha was able to go to the closing and sign the paperwork to sell her mother's property while her mother was in the hospital. How could this be possible? 1. Martha may have been named an executor... of her mother's will. 2. Her mother may have had a power of attorney drawn up making Martha her attorney in fact. 3. Martha and her mother may own the property as joint tenants, so that Martha may sign as owner 4. Martha's mother's surgeon recommended that this be permitted to alleviate her mother's stress and regarding this pending transaction 2. Her mother may have had a power of attorney drawn up making Martha her attorney in fact. Janet is the property for a 20 unit building. What steps would she take when asked to prorate the rent if a new tenant wants to move in on the 8th day of the month in June? 1. subtract 8 days from 365 to come up with the prorated rent per day 2. Divide the monthly rent by 30 days and multiply that number by 22 3. calculate the 22 day rental amount and add a prorated utility fee 4. advise the tenant that the first available move-in date is July 1 2. Divide the monthly rent by 30 days and multiply that number by 22 In a jurisdiction where the common law of agency governs real estate activities, a broker has entered a single agency relationship with the buyer. The broker has put together a list of properties but it was based off how much commission he can make on this sale. What fiduciary duty did the broker violate? 1. confidentiality 2. loyalty 3. disclosure 4. caution 2. loyalty Why was asbestos often used as a construction material? 1. waterproof 2. fireproof 3. indestructible 4. cheap 2. fireproof An owner signed a contract to sell an apartment building. Just before closing, the owner informed the buyers that she had changed her mind and would NOT sell the property. A lawsuit filed by the buyers would be for: 1. specific performance 2. lis pendens 3. quiet title action 4. a deficiency judgement 1. specific performance The broker has noticed that a great number of people who are buying in the neighborhood where his listing is located speak Russian. He also noticed a Russian grocery store right by the neighborhood that was attractive. He decides to stop the advertising the property and started adverting the property on two different Russian internet sites. This is: [Show More]

Last updated: 1 month ago

Preview 1 out of 24 pages