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100-Question National Portion Simulation Preview

The complete app simulation assigns all 100 questions according to the published national salesperson percentages: 19 Contracts, 13 Agency, 12 Practice, 10 Ownership, 10 Financing, 8 Valuation, 7 Calculations, 7 Disclosures, 6 Transfer, 5 Land Use, and 3 Property Management. This page provides a short public preview. Answer this 10-question public preview here, then continue the complete experience in Pass Georgia.

Facts checked against the current PSI Candidate Information Bulletin and GREC sources.

10-question public previewNo sign-upExplanations and repair links
1 / 10Test mode

A buyer with limited savings but steady income is MOST likely drawn to FHA financing because it:

Filled circles are answered. A dot means marked for review. Choose a number to return and change an answer.

34% of the real exam is Georgia law. 52 of 152 questions.

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All 10 questions and explanations

Studying instead of taking a test? Open any question to read its choices, the answer, and the reason each option is right or wrong. The numbering matches the public set above.

For a useful score, finish the test above before opening these answers. These are original practice questions based on published topics and sources.

1. A buyer with limited savings but steady income is MOST likely drawn to FHA financing because it:Financing. Open choices and explanation.
  1. A.Accepts a down payment as low as 3.5 percent
  2. B.Skips the appraisal to speed up the closing
  3. C.Charges no mortgage insurance premiums at all
  4. D.Approves applicants without a credit review

Answer A: Accepts a down payment as low as 3.5 percent

HUD states that FHA-insured loans allow a down payment as low as 3.5 percent, and gift funds may cover it. That low entry cost is the program's main draw for a buyer with steady income but little savings. The trade-off is FHA mortgage insurance premiums, so a licensee should compare total monthly cost, not the down payment alone.

Why each choice works or fails

  • A. FHA's low 3.5 percent minimum down payment is its main attraction.
  • B. FHA requires an appraisal performed to FHA standards.
  • C. FHA loans carry both upfront and annual mortgage insurance premiums.
  • D. The lender still underwrites every applicant's credit and income.

Rule to remember: FHA insures the loan, which lets lenders accept a 3.5% down payment in exchange for mortgage insurance premiums.

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2. Which record BEST shows that a brokerage is properly handling money it holds for others?Practice of Real Estate. Open choices and explanation.
  1. A.A per-transaction ledger with running balances
  2. B.The trust account's monthly bank statement by itself
  3. C.A year-to-date summary of commissions the firm earned
  4. D.The check register for the firm's operating account

Answer A: A per-transaction ledger with running balances

An examiner wants to know whose money is in the trust account and how much. Only a per-transaction or per-client ledger answers that, and it is what gets reconciled against the bank statement.

Why each choice works or fails

  • A. Correct. A per-transaction ledger shows whose funds are held and in what amount.
  • B. Candidates trust the bank's record, but a statement shows one combined balance and cannot say whose money it is.
  • C. Commissions are the firm's own earnings and say nothing about funds held for others.
  • D. Operating funds belong to the firm, and trust money must be kept separate from them.

Rule to remember: Trust records must show, transaction by transaction, whose money is held and how much.

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3. A grantor deeds property to Anne for life, and on Anne's death to Anne's son. While Anne is alive, the son holds:Property Ownership. Open choices and explanation.
  1. A.A life estate pur autre vie
  2. B.A remainder interest
  3. C.A reversion
  4. D.A leasehold estate

Answer B: A remainder interest

The son is a third party named in the grant to take when Anne's life estate ends, so he holds a remainder. If the deed had named no one to take after Anne, the property would return to the grantor as a reversion.

Why each choice works or fails

  • A. Candidates see Anne's life in the grant and think pur autre vie. It is Anne who holds the life estate; the son holds the future interest.
  • B. Correct. A third party named to take after the life estate holds a remainder.
  • C. A reversion returns to the grantor, not to a named third party.
  • D. A leasehold is a tenant's right under a lease, not a future ownership interest.

Rule to remember: Future interest to a third party is a remainder. Back to the grantor is a reversion.

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4. A seller asked her listing agent to keep her financial troubles confidential. The listing expires, and months later someone asks the agent about the seller's finances. May the agent reveal what they learned?Agency. Open choices and explanation.
  1. A.Yes, the duty ended with the listing
  2. B.Yes, if the new listing agent consents
  3. C.Yes, once a year has passed since it ended
  4. D.No, the duty survives the listing

Answer D: No, the duty survives the listing

After an engagement ends, a broker must still account for money and property and keep confidential any information the client asked to keep confidential. That duty ends only if the client permits disclosure, the law requires it, or the information becomes public from someone other than the broker.

Why each choice works or fails

  • A. Candidates assume all duties end with the listing. Confidentiality is one of the duties that survives.
  • B. Only the former client can permit disclosure. A later listing agent has no power to waive it.
  • C. There is no waiting period. Time passing does not release the duty.
  • D. Correct. Confidentiality survives unless the client permits disclosure, the law requires it, or the information becomes public from another source.

Rule to remember: Information a client asked you to keep confidential stays confidential after the engagement ends.

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5. An architectural review requirement in a community association means an owner must:Land Use Controls and Regulations. Open choices and explanation.
  1. A.Pay the association a fee for every repair undertaken
  2. B.Match the exact appearance of every neighboring home
  3. C.Obtain approval before making a covered exterior change
  4. D.Use only contractors the association itself employs

Answer C: Obtain approval before making a covered exterior change

Architectural review means the owner must get the association's approval before making changes the governing documents cover, typically exterior alterations. Owners who build first and ask later can be required to undo the work.

Why each choice works or fails

  • A. Architectural review controls changes; it does not charge a fee on every repair.
  • B. Candidates think review demands identical homes, but approval standards rarely require exact matching.
  • C. Correct. Prior approval is required for covered exterior changes.
  • D. Owners generally choose their own contractors; review covers the change, not who performs it.

Rule to remember: Architectural review means getting association approval before making covered exterior changes.

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6. Market value assumes a transaction in which the buyer and seller are:Valuation and Market Analysis. Open choices and explanation.
  1. A.Under pressure to complete the sale quickly
  2. B.Related parties settling a private family arrangement
  3. C.Using special seller financing below market rates
  4. D.Typically motivated, informed, and acting freely

Answer D: Typically motivated, informed, and acting freely

Market value describes a hypothetical arm's length sale: both parties informed, neither under duress, with the property exposed to the market for a reasonable time. Take away any of those and what you observe is a price, not market value.

Why each choice works or fails

  • A. Duress produces a distressed price rather than market value.
  • B. A family arrangement is not an arm's length sale.
  • C. Market value assumes cash or equivalent terms; special financing distorts price.
  • D. Correct. Informed, unpressured parties dealing at arm's length.

Rule to remember: Market value assumes an arm's-length sale between informed, typically motivated parties under no duress.

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7. A property has $72,000 in gross income and $48,000 in net operating income. It sells for $600,000. What is the capitalization rate?Valuation and Market Analysis. Open choices and explanation.
  1. A.8%
  2. B.12%
  3. C.12.5%
  4. D.80%

Answer A: 8%

Cap rate is net operating income divided by value: $48,000 / $600,000 = 0.08, or 8 percent. Gross income is a distractor, because operating expenses must come out before capitalizing.

Why each choice works or fails

  • A. Correct. $48,000 / $600,000 = 8%.
  • B. 12% uses gross income instead of NOI.
  • C. 12.5 is the inverse ratio, value divided by NOI.
  • D. 80% misplaces the decimal.

Work it through

  1. $48,000 / $600,000 = 0.08
  2. 0.08 = 8%

Rule to remember: Cap rate is NOI divided by value.

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8. Which loan type is insured by the federal government to protect the lender against borrower default?Financing. Open choices and explanation.
  1. A.FHA
  2. B.Conventional with PMI
  3. C.VA
  4. D.Fannie Mae conforming

Answer A: FHA

FHA, part of HUD, insures the lender against loss if the borrower defaults. VA guarantees part of the loan instead, PMI is private insurance rather than federal, and Fannie Mae buys loans on the secondary market without insuring them.

Why each choice works or fails

  • A. FHA insures the loan against borrower default.
  • B. PMI insures the lender, but it is private, not federal.
  • C. VA guarantees part of the loan rather than insuring it.
  • D. Fannie Mae buys conforming loans; it does not insure them.

Rule to remember: FHA insures, VA guarantees, conventional does neither.

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9. A buyer discovers the mineral rights were severed years earlier. The MOST important consequence is that:Property Ownership. Open choices and explanation.
  1. A.The surface parcel cannot lawfully be conveyed
  2. B.The buyer still owns everything lying beneath
  3. C.The severance ends when the surface is sold
  4. D.Another party may have rights to access and extract

Answer D: Another party may have rights to access and extract

Once mineral rights are severed, they are a separate estate that does not pass with the surface. The mineral owner generally has an implied right to use as much of the surface as extraction reasonably requires, which a buyer planning to build needs to know before closing.

Why each choice works or fails

  • A. Severance splits the estates but leaves the surface fully conveyable.
  • B. Candidates assume land ownership reaches to the center of the earth. After severance, the minerals belong to someone else.
  • C. A severance is permanent unless reunited by conveyance, and it survives later surface sales.
  • D. Correct. The mineral owner may have rights to reach and remove the minerals.

Rule to remember: Severed mineral rights stay with their owner, who may keep a right to reach and remove them.

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10. A buyer putting 25 percent down on a conventional loan will MOST likely:Financing. Open choices and explanation.
  1. A.Pay mortgage insurance for the life of the loan
  2. B.Avoid the need for private mortgage insurance
  3. C.Pay a funding fee instead of mortgage insurance
  4. D.Pay an upfront mortgage insurance premium at closing

Answer B: Avoid the need for private mortgage insurance

Private mortgage insurance protects the lender when the borrower's equity cushion is thin, and conventional lenders typically require it when the down payment is under 20 percent. Twenty-five percent down produces a 75 percent loan-to-value, below the usual 80 percent line, so mortgage insurance is normally not required.

Why each choice works or fails

  • A. Life-of-loan premiums are an FHA feature; conventional PMI can be canceled and ends automatically under the Homeowners Protection Act.
  • B. A 75 percent LTV is below the 80 percent point where PMI is usually required.
  • C. A funding fee is a VA loan charge, not part of a conventional loan.
  • D. A required upfront mortgage insurance premium is an FHA charge; at 75 percent LTV a conventional borrower normally pays no mortgage insurance at all.

Rule to remember: Conventional loans usually need private mortgage insurance only when the loan exceeds 80% of value.

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What does this assessment cover?

The app’s 100-question study form converts the published national percentages directly into item counts. The complete app simulation draws original items across the underlying syllabus topics. The 10-question public preview covers six areas and is not proportionally weighted. Use it to try the question style, not to measure coverage of the full national outline.
Question coverage in this assessment
Official content areaPublished weightQuestions hereComplete lesson
Financing10% of the national portion3Study Financing
Practice of Real Estate12% of the national portion1Study Practice of Real Estate
Property Ownership10% of the national portion2Study Property Ownership
Agency13% of the national portion1Study Agency
Land Use Controls and Regulations5% of the national portion1Study Land Use
Valuation and Market Analysis8% of the national portion2Study Valuation

The Georgia-specific distinction

This page measures national curriculum only. A strong result does not cover the separate 52-question Georgia supplement.

Worked result example

If Contracts is 16 of 19 but Property Disclosures is 2 of 7, the smaller area is still the first repair. Weight tells you exposure. Your evidence tells you where the next hour belongs.

Common exam traps

  • Treating the national result as the whole Georgia exam.
  • Using the overall score to hide a small weak area.
  • Replaying the same paper until the answers are familiar.
  • Inventing an official time limit or passing percentage.

Ready to move on?

  1. Score the set before opening notes.
  2. Explain the winning rule without repeating the answer choice.
  3. Classify every miss as knowledge, distinction, wording, math setup, or timing.
  4. Repair the weakest official area, then answer a fresh set on another day.
  5. Move on only when the result is stable and guesses are being marked as gaps.

Recommended next lesson

Complete the separate Georgia simulation. Use the result above to choose the first lesson or drill rather than following a generic order.

Assessment integrity

The questions are original and mapped to the current PSI outline. This preview introduces the assessment; the complete version is in Pass Georgia. PSI says practice exams help candidates become familiar with general question types, but they do not replace education and a good practice score does not guarantee an examination outcome. This page reports evidence, not a pass probability.

The July 1, 2026 public bulletin does not state the salesperson time limit. This simulation therefore does not invent an official clock. If PSI supplies a duration in your appointment details, use that current instruction for a separate pacing run.

About this practice set

Facts checked against the current PSI Candidate Information Bulletin and GREC sources.

Are these actual PSI exam questions?

No. Every item is original, written from the current published outline and primary sources. No question is copied, recalled, reconstructed, or represented as a live PSI item.

Does this score predict whether I will pass?

No. One practice result is evidence about this question sample. Use the area breakdown, review guesses as well as misses, and confirm improvement with fresh questions on another day.

What should I do after the result?

Open the explanation for every miss and guess, restate the rule, use the linked repair lesson, then continue with the next lesson: Complete the separate Georgia simulation.

Is the assessment free?

Yes. This 10-question preview has no email gate, account requirement, or card. The complete assessment, saved mastery, spaced review, and adaptive recommendations are in Pass Georgia.