Knowledge Exam Flashcards
7 cards from real PSI practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Knowledge Exam flashcards as text
Which PSI exam candidate requirement typically applies at the testing center?
Answer: Presenting two forms of valid ID, one of which is government-issued with a photo
PSI testing centers typically require candidates to present two valid forms of ID, with at least one being a government-issued photo ID such as a driver's license or passport.
In property insurance, 'replacement cost value' (RCV) differs from 'actual cash value' (ACV) in that RCV:
Answer: Pays what it costs to replace the item new with no depreciation deduction
Replacement cost value covers the cost to replace damaged property with a new equivalent, while actual cash value subtracts depreciation from the replacement cost.
A real estate agent's fiduciary duty of 'loyalty' to a client means the agent must:
Answer: Put the client's interests above all others, including the agent's own interests
The fiduciary duty of loyalty requires a real estate agent to place the client's interests first, avoiding conflicts of interest and self-dealing.
Under workers' compensation laws, an injured employee typically:
Answer: Receives benefits regardless of who was at fault for the injury
Workers' compensation is a no-fault system, meaning employees receive medical and wage benefits for work-related injuries without needing to prove the employer was negligent.
What is the primary purpose of a building permit in construction?
Answer: To ensure construction work meets safety codes and standards
Building permits ensure that construction projects comply with local safety codes, zoning regulations, and structural standards to protect public health and safety.
An insurance 'binder' serves as:
Answer: Temporary evidence of coverage until a formal policy is issued
An insurance binder is a temporary written agreement that provides proof of coverage until the full insurance policy can be formally issued and delivered.
In real estate, 'blockbusting' refers to the illegal practice of:
Answer: Inducing homeowners to sell by making representations about a neighborhood's changing demographics
Blockbusting is a discriminatory and illegal practice of pressuring homeowners to sell by suggesting that minority groups moving into the area will lower property values.