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psi exam test prep questions & Answers
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psi exam test prep questions & Answers
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psi exam test prep questions And Answers1.A homeowner has negotiated with a neighbor to obtain the
permanent right to pass over the northern part of the
neighbor's land to gain access to the river. He pays the
neighbor $9,000 for the right of access and receives a deed.
This is an easement: appurtenant
2.A tenant rented an apartment, signing a 15-month lease.
After the lease ex- pired, the tenant paid 1 month's rent and
got a receipt. What kind of leasehold does the tenant have?:
Tenancy at will
3.The main difference between tenancy in common and joint
tenancy is that with tenancy in common, when a co-owner
dies,: his undivided interest passes to his heirs
4.Although states make specific laws governing water rights
and the rights in land that borders water, most states generally
follow one of two basic doctrines regarding water rights. Either
riparian and littoral rights are auto- matically conveyed with
property, or all water rights are controlled by the state under
the doctrine of prior appropriation. The doctrine of prior
appropriation is MOST likely to be followed in states where:
water is scarce
5.A legal easement can be created by any of the following
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, EXCEPT: merger of the titles
6.Legal descriptions using the government survey system are
NOT generally used in: the original 13 states
7.Real property can be converted to personal property by:
severance
8.A lawsuit for inverse condemnation may be brought by:
homeowner
9.Building codes are: ordinances that specify construction standards
10. A landowner wishes to build a neighborhood grocery store
on a busy street in an area zoned for residential use. Which of
the following would MOST likely be used to obtain permission
for this store?: Conditional use permit or zoning variance.
11.An environmental impact statement typically describes
the effects of a proposed project on factors such as: public
health and safety.
12.A deed restriction is applicable to the activities of: all
owners, present and future
13.A commercial property lost value because a recently
constructed highway moved traffic away from the property.
This is an example of: economic or external obsolescence.
14.A competitive market analysis is MOST often used fo: setting a
listing price.
15.When compiling a competitive market analysis, a broker
would look for comparable properties that: were located near
the property being listed.
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