PSI Cheat Sheet 2026

The 30 highest-yield PSI facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. How long before a PSI exam appointment should candidates typically arrive at the test center? → 30 minutes
2. A developer gives permission to a local power company to put in transmission lines. This right demonstrates _______. → conditional use permit
3. Which study resource type is generally most aligned with actual PSI exam content? → Official state board-approved prep materials and PSI candidate bulletins
4. Which type of life insurance policy builds cash value over time? → Whole life
5. A real estate salesperson leaves Broker A and affiliates with Broker B. Pending transactions from the salesperson's time at Broker A are: → Handled by Broker A since transactions are tied to the brokerage
6. What does it mean when a PSI exam has a 'criterion-referenced' passing standard? → Candidates must meet a fixed competency level, not beat other test-takers
7. A managing broker is accountable for _____. → all real estate activities of salespersons
8. What must a candidate bring in addition to their primary government-issued ID when checking in at a PSI center? → A second form of ID as required by the specific exam sponsor
9. A project manager calculates the Cost Performance Index (CPI) as 0.85. What does this indicate? → The project is getting $0.85 in value for every $1 spent
10. Which entity determines the minimum passing score (cut score) for a PSI-administered licensing exam? → The sponsoring regulatory agency or licensing board
11. Under the concept of subrogation, an insurer that pays a claim then has the right to: → Recover payment from a negligent third party
12. What identification is typically required at a PSI testing center? → One or two forms of valid, unexpired government-issued photo identification
13. Appraiser independence requirements under federal law prohibit: → A mortgage lender's loan production staff from selecting or pressuring appraisers
14. What is the recommended way to handle test anxiety on exam day? → Use controlled breathing and positive self-talk before and during the exam
15. In construction, when must fall protection be provided for workers on roofs? → When the roof edge is 6 feet or more above a lower level
16. A landlord enters a tenant's apartment without notice to make a non-emergency repair. This could constitute: → Breach of the covenant of quiet enjoyment
17. What is a biweekly mortgage's main benefit? → quicker loan repayment
18. An employer-sponsored retirement plan that defines the benefit the employee will receive at retirement is a: → Defined benefit plan
19. Which Medicare supplement plan is standardized and covers the Medicare Part A deductible? → Plan B
20. Usury laws were made to protect the: → borrower
21. What is the minimum height at which OSHA's general industry fall protection standard requires guardrails on walking/working surfaces? → 4 feet
22. In a balloon mortgage, what happens at the end of the loan term if the borrower has not refinanced? → The entire remaining principal balance becomes due immediately
23. In the income approach, net operating income (NOI) is calculated as: → Effective gross income minus operating expenses (excluding debt service)
24. What is the difference between a project constraint and a project assumption? → Constraints are known limiting factors; assumptions are considered true without proof
25. What is the key distinction between a tenant at will and a tenant at sufferance? → A tenant at will has the landlord's permission to stay; a tenant at sufferance does not
26. Which ergonomic tip is most beneficial for candidates taking a long PSI computer-based exam? → Adjust your chair and monitor height before the exam begins
27. A contract is _____ when one party fails to fulfill a condition. → breached
28. All of these are important parts of a contract, except: → competent grantor
29. Which behavior during a PSI exam is considered a violation that could result in score cancellation? → Communicating with another test-taker during the exam
30. What type of loan features payments that start low and gradually increase over time to match anticipated income growth? → Graduated payment mortgage (GPM)