PSIxNJxREAL xESTATE xEXAM, xPSIxPRACTICE xT ESTxEXAM xNEWEST, x2024/x2025,xACTUAL xEXAM xQUEST IONSxAND xCORRECT xDETAILED xANSWERS x|ALREADY x GRADED xA+
Axborrowerxhasxdefaultedxonxthexmortgage.xThexmortgagexcontainsxan
accelerationxclause.xThisxpermitsxthexlenderxtox......answer ...... demand ximmediate
paymentxofxthexentirexnote.
Axbrokerxhasxbroughtxaxready,xwilling,xandxablexbuyerxtoxaxseller.xInxMOST xlisting contracts,xthexbrokerxhasxearnedxhisxcommission xwhenx......answer. ..... thexseller acceptsxthexoffer
Axbrokerxhasxsignedxaxlistingxcontractxforxthexsalexofxaxhome.xWhichxofxthe
followingxcouldxmakexthisxcontractxvoidable?
- Thexsellerxcannotxwritexandxsignxwithxanx"X".
- Thexlistingxcontractxspecifiesxthatxnoxotherxbrokerxmayxshowxthexhouse.
- Thexsellerxisxheavilyxunderxthexinfluencexofxalcoholxatxthextimexofxsigning.
- Thexlistingxcontractxspecifiesxthatxaxcommissionxwillxbexpaidxonlyxifxthexhouse
isxsoldxwithinx3xweeks.x......answer. ....... Thexsellerxisxheavilyxunderxthexinfluencexof alcoholxatxthextimexofxsigning.
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Axbrokerxlistsxaxproperty,xwithxaxlistingxcontractxallowingxsubagencyxandxdual agency.xOnexofxthexbroker'sxsalespersonsxshowsxthexproperty.xThexsalesperson 2 / 4
wouldxbexclassifiedxasx......answer ..... axsubagentxofxthexseller.x—x(Thinkx-
brokeragexisxthexAGENCY, xsalespersonxisxworkingxunderxthexagency)
Axbrokerxsays,xwhilexshowingxaxruralxproperty,x"Thisxpropertyxhasxthexworld's
purestxwellxwater."xThisxwouldxbexanxexamplexofx......answer...... anxexpressionxof
opinion,xorxpuffing,xwhichxcouldxleadxtoxmisrepresentation.
Axbrokerxsuppliesxthexfinancingxforxaxprojectxtoxbuildxcondominiums xwithxthe
stipulationxthatxhexhasxthexexclusivexrightxtoxsellxthexcompletedxcondos.xWhat
typexofxagencyxBESTxdescribesxthisxrelationship?x......answer ...... Agencyxcoupled
withxanxinterest
Axbrokerxsuppliesxthexfinancingxforxaxprojectxtoxbuildxcondominiums xwithxthe
stipulationxthatxhexhasxthexexclusivexrightxtoxsellxthexcompletedxcondos.xWhich
typexofxagencyxisxthisx......answer. .... agencyxcoupledxwithxanxinterest
Axbuyerxisxgettingxaxfullyxamortizedxloanxforx$220,000.xThexbankxwillxgivexthexbuyer thexloanxforx15xyearsxatx5x1/2%xorxforx30xyearsxatx6x1/2%.xToxthexnearestxcent,xwhat isxthexdifferencexbetweenxthexmonthlyxpaymentsxforxthesextwoxloans?x(BExSURE
TOxUSExTHExAMORTIZATION xTABLE.)x......answer ..... $409.20
Axbuyerxmadexanxofferxonxaxpropertyxthatxwasxlistedxatx$350,000.xShexwantedxto
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putx$35,000xdownxandxmakexpaymentsxtoxthexseller,xallowedxthexsellerxtoxretain
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