NJ INSURANCE PRODUCERS LICENSE EXAM WITH GUARANTEED ACCURATE ANSWERS |VERIFIED
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Course
NJ TITLE
Institution
NJ TITLE
Abandonment - ACCURATE ANSWERS When a party in legal possession of property leaves without the intention of reclaiming rights
Abstract of Title - ACCURATE ANSWERS A summary of the title history including all encumbrances
Acceleration Clause - ACCURATE ANSWERS Mortgage clause DEMANDING FULL pa...
NJ INSURANCE PRODUCERS LICENSE
EXAM
NJ INSURANCE PRODUCERS LICENSE EXAM WITH GUARANTEED ACCURATE
ANSWERS |VERIFIED
Abandonment - ACCURATE ANSWERS✔✔ When a party in legal
possession of property leaves without the intention of reclaiming rights
Abstract of Title - ACCURATE ANSWERS✔✔ A summary of the title
history including all encumbrances
Acceleration Clause - ACCURATE ANSWERS✔✔ Mortgage clause
DEMANDING FULL payment upon default
Accretion - ACCURATE ANSWERS✔✔ New land added by the
elements
,Accrued Depreciation - ACCURATE ANSWERS✔✔ Total of all
deterioration and obsolescence on a property
Acknowledgement - ACCURATE ANSWERS✔✔ Witnessing of an
instrument by an officer of the court
Actual Authority - ACCURATE ANSWERS✔✔ Authority directly by
contract
Adjustable Rate Mortgage (ARM) - ACCURATE ANSWERS✔✔
Interest rates fluctuate based on a predetermined measurement of the
marketplace and time period
Adhesion Contract - ACCURATE ANSWERS✔✔ NON-
NEGOTIABLE contract with terms dictated by one party
Administrator - ACCURATE ANSWERS✔✔ Appointed by the court to
execute the estate of an intestate
Administrator's Deed - ACCURATE ANSWERS✔✔ Transfers title of
an intestate of the administrator
Ad Valorem Taxes - ACCURATE ANSWERS✔✔ Based on property
Value as the general assessment tax
,Adverse Possession - ACCURATE ANSWERS✔✔ Claim to title
through continuous OPEN AND HOSTILE OCCUPANCY
Affidavit of Title - ACCURATE ANSWERS✔✔ Sworn statement of
ownership by the seller at closing immediately on default
Agency - ACCURATE ANSWERS✔✔ Principal and Agent Agreement,
allowing the agent to represent the principals interest in dealing with 3rd
parties
Agreement of Sale - ACCURATE ANSWERS✔✔ Contract for the sale
of real estate
Air Rights - ACCURATE ANSWERS✔✔ Rights to space above a
property
Aleatory Contract - ACCURATE ANSWERS✔✔ UNCERTAIN
CONDITIONS (contract based on)
Alien Title Company - ACCURATE ANSWERS✔✔ company formed
under laws of a another nation
Alienation Clause - ACCURATE ANSWERS✔✔ DUE ON SALE
CLAUSE in mortgage, demands full payment upon title transfer
, Allodial System - ACCURATE ANSWERS✔✔ System of ownership
allowing proprietary interests in real property to be held by PRIVATE
parties.
Alluvion - ACCURATE ANSWERS✔✔ Shiting sediment in a river or
waterway
ALTA - ACCURATE ANSWERS✔✔ American Land Title Association
Amendatory Clause - ACCURATE ANSWERS✔✔ MANDATORY
ESCAPE clause in VA and FHA contracts.
American's with Disabilities Act - ACCURATE ANSWERS✔✔ Federal
Law prohibiting discrimination against the disabled in the use of public
property, businesses and employment
Amortization - ACCURATE ANSWERS✔✔ Gradual reduction of a
mortgage debt so that it is completely Abandonment When a party in
legal possession of property leaves without the intention of reclaiming
rights
Abstract of Title - ACCURATE ANSWERS✔✔ A summary of the title
history including all encumbrances
Acceleation Clause - ACCURATE ANSWERS✔✔ Mortgage clause
DEMANDING FULL payment upon default
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