National Real Estate Salesperson Supplemental Exam
National
· PSI Services Real Estate
Verified, not estimated. Every figure below is drawn from the official exam structure we maintain — question counts, passing standard and topic weighting. Practice questions are grounded in the source law with statute citations. We omit any figure we can't verify rather than guess at it.
Total questions
80
Passing score
70
Exam time
120 min
Administered by
PSI Services Real Estate
Format
Closed-book
National State Portion
80 questions
Titularidad de Propiedades8 Q · 10%
Real vs personal propertyLand characteristics and legal descriptions (metes & bounds, lot & block, government survey)Measuring structures and land measurementEncumbrances: liens, easements, encroachments, subsurface/air/water rightsTypes of ownership: severalty, tenants in common, joint tenancy, common-interest, trusts, business entities, life estate
Controles de Uso del Suelo4 Q · 5%
Government rights in land: taxes, special assessments, eminent domain, escheatGovernment controls on land use: zoning, building codes, environmental regulationsPrivate controls: deed conditions, CC&Rs, HOA/condo bylaws
Loan terminology: points, LTV, PMI, PITI, underwriting criteriaMortgage clauses, promissory notes, deeds of trustLoan types: conventional, amortized, ARM, FHA, VA, USDA, owner financing, reverse mortgage, HELOC, construction, bridgeLending legislation: RESPA, Truth in Lending (Reg Z), TRID, Equal Credit Opportunity ActSecondary mortgage market: Fannie Mae, Freddie Mac, Ginnie Mae
Contratos15 Q · 19%
General contract law: valid elements, Statute of Frauds, offer and acceptanceContract enforceability: void, voidable, unenforceable contractsBilateral vs unilateral contracts, option contractsElectronic signatures and digital transactionsRights, obligations, and breach remediesPurchase agreements: addenda, amendments, contingenciesLease contracts: types of leases, lease-purchase agreementsMultiple offers and counteroffers
Agencia10 Q · 13%
Agency vs non-agency relationshipsListing contracts: exclusive right-to-sell, exclusive agency, open listing, net listingBuyer brokerage and buyer representation agreementsTransaction brokers and facilitatorsPower of attorney, termination of agencyFiduciary duties: obedience, loyalty, disclosure, confidentiality, accounting, reasonable care (OLD CAR)Duties to customers and non-clientsAgency disclosure requirements and conflict of interest
Divulgaciones de Propiedad6 Q · 7%
Property condition disclosures: seller disclosure requirements, inspections, surveysRed flags and material defectsEnvironmental disclosures: lead-based paint, asbestos, radon, mold, underground storage tanksGovernment disclosures: flood zones, wetlands, endangered speciesMaterial facts and duty to disclose
Administración de Propiedades2 Q · 3%
Tenant procurement and qualificationFair housing compliance in property management and ADAMarket analysis for establishing rentsLandlord/tenant rights and obligations
Transferencia de Título5 Q · 6%
Types of deeds: general warranty, special warranty, quitclaim, bargain and saleTitle insurance: owners vs lenders policies, title searches, title problemsClosing process: recordation, settlement statements, warrantiesSpecial processes: foreclosure, short sale, deed in lieu, probate
Práctica de Bienes Raíces10 Q · 12%
Federal Fair Housing Act: protected classes, prohibited conduct, exemptionsAmericans with Disabilities Act (ADA) requirementsAntitrust laws: price fixing, group boycotts, market allocation, tie-in agreementsDo-Not-Call Registry and telemarketing rulesSocial media and internet advertising regulationsHandling earnest money and trust fundsDue diligence and fiduciary responsibilitiesIndependent contractor vs employee status
Cálculos de Bienes Raíces6 Q · 7%
Seller net proceeds calculationsBuyer funds required at closingProrations: taxes, insurance, rent, HOA duesTransfer tax and recording fee calculationsPITI (Principal, Interest, Taxes, Insurance) calculationsCommission calculations and splitsEquity, capitalization rate, and LTV calculationsDiscount points and origination feesArea and volume conversions (sq ft, acres)
Key Distinctions
Joint TenancyvsTenancy in Common
Joint tenancy includes right of survivorship so a deceased owner's share passes automatically to surviving owners, while tenancy in common has no survivorship right and each owner's share passes to their heirs.
Easement AppurtenantvsEasement in Gross
An easement appurtenant benefits a specific parcel of land (dominant estate) and runs with the land, while an easement in gross benefits a person or entity (such as a utility company) and has no dominant tenement.
Promissory NotevsDeed of Trust
A promissory note is the borrower's written promise to repay the debt (evidence of the debt), while a deed of trust is the security instrument that gives the lender a lien on the property as collateral.
A CMA is an opinion-of-value tool prepared by a real estate agent, while a formal appraisal is performed by a licensed or certified appraiser following USPAP standards and can be used for lending purposes.
General Warranty DeedvsSpecial Warranty Deed
A general warranty deed warrants against all title defects in the entire chain of title regardless of when they occurred, while a special warranty deed only warrants against defects that arose during the grantor's period of ownership.
Owner's Title Insurance PolicyvsLender's Title Insurance Policy
An owner's policy protects the buyer's equity interest up to the purchase price, while a lender's policy protects the lender's security interest up to the outstanding loan balance and terminates when the loan is paid off.
ClientvsCustomer
A client has a fiduciary (agency) relationship with the broker and is owed full fiduciary duties, while a customer is owed only honesty, fair dealing, and disclosure of material facts but has no agency relationship.
Under an exclusive agency listing the seller retains the right to sell the property themselves without paying a commission, while under an exclusive right-to-sell the broker earns a commission regardless of who sells the property.
Bilateral ContractvsUnilateral Contract
A bilateral contract requires mutual promises from both parties (promise for a promise), while a unilateral contract involves a promise from one party that is accepted only through actual performance by the other party.
AddendumvsAmendment
An addendum adds terms to a contract before it is fully executed (signed by all parties), while an amendment modifies an existing contract after it has already been signed.
A fixed-rate mortgage keeps the interest rate constant for the entire loan term, while an ARM has an interest rate that can fluctuate during the loan term based on market conditions.
Interest RatevsAnnual Percentage Rate (APR)
The interest rate is the base cost of borrowing expressed as a percentage, while the APR includes the interest rate plus other loan costs such as points and origination fees, giving a more complete picture of the loan's true cost.
Under IRS rules, a real estate salesperson qualifies as a statutory independent contractor only if: (1) they hold a current real estate license, (2) substantially all compensation is based on sales production rather than hours worked, and (3) a written agreement states they will not be treated as an employee for federal tax purposes.
Net Listing
A listing arrangement where the broker keeps any sale proceeds above the seller's specified net price as commission; generally illegal or prohibited in most states because it creates a conflict of interest between broker and seller.
Price Fixing (Antitrust)
An illegal agreement among competing brokerages to charge the same commission rate rather than allowing market competition to determine prices, in violation of antitrust laws.
Market Allocation (Antitrust)
An illegal agreement among competing brokerages to divide geographic areas or customer segments among themselves rather than competing freely, in violation of antitrust laws.
Special Assessment
A one-time charge levied against specific properties that benefit from a public improvement (such as new sidewalks, street paving, or sewer installation), distinct from ongoing general property taxes.
Police Power
The government's authority to enact regulations for public health, safety, or welfare (such as zoning, building codes, and environmental rules) without compensating property owners for the financial burden imposed, unlike eminent domain.
Remainderman
The party designated to receive title to property when a life estate ends upon the death of the life tenant; when the remainder goes to a third party rather than reverting to the original grantor, that third party is the remainderman.
Easement in Gross
An easement that benefits a specific person or entity (such as a utility company) rather than a parcel of land; there is no dominant tenement, and utility easements are the most common example.
Condominium Ownership
A form of common-interest ownership in which the owner holds fee simple title to the airspace within their individual unit plus an undivided interest in the common areas such as hallways, elevators, and recreational facilities.
Reverse Mortgage
A loan product designed for homeowners age 62 and older that allows them to convert home equity into cash without making monthly payments; the loan is repaid when the home is sold or the borrower no longer lives there.
Ginnie Mae (GNMA)
A federal agency that guarantees mortgage-backed securities backed by government-insured loans (FHA, VA, USDA) in the secondary market; unlike Fannie Mae and Freddie Mac, Ginnie Mae does not purchase loans.
Lease-Purchase vs. Lease-Option
A lease-purchase agreement obligates the tenant to purchase the property at a predetermined price by a specified date, while a lease-option gives the tenant the right but not the obligation to purchase.
Fannie Mae / Freddie Mac (GSEs)
Government-sponsored enterprises that operate in the secondary mortgage market by purchasing mortgages from lenders to provide liquidity; they do not lend directly to consumers.
Building Codes
Government regulations primarily concerned with ensuring safety, health, and structural integrity of buildings rather than aesthetic appearance, setting minimum construction standards for occupancy.
Formulas to Know
Seller's Net ProceedsNet Proceeds = Sale Price − (Commission + Closing Costs + Loan Payoff Balance)
Commission AmountCommission = Sale Price × Commission Rate %
