Nj real estate full - Study guides, Class notes & Summaries

Alloidial System - System where people have the right to own full and complete property rights in land subject only to the various public and private restrictions. National Association of Realtors (NAR) - Group of real estate agents who maintain ethics codes and standards for the industry Realtor - Trade name can only be used by members of National Association of Realtors (NAR) New Jersey Real Estate License Act - Designed to license and regulate brokers and salespersons and to establis...

How long from class end date to pass the School and State Exam and submit license application - Answer- 1 year How long must a Salesperson wait until they are eligible for a Broker's license - Answer- 3 years full-time Members of the Real Estate Commission Serve terms of - Answer- 3 years Broker Candidates require additional classroom education in the amount of (hours) - Answer- 150 hours All NJ Licenses expire on - Answer- 6/20 of odd years (every 2 years) Brokers must return al...

NJ Real Estate Exam 2023 with 100% correct answers Broker Broker-Salesperson Bureau of Subdivided Land Sales Control Continuing Education Guaranty Fund New Jersey Real Estate Commission Real Estate License Act Real Estate Sales Full Disclosure Act REALTOR® REALTOR-ASSOCIATE Referral Agent Referral Fee Salesperson Title 11, Chapter 5 Branch Office Commingling Duplicate Original Escrow Account Guilty Knowledge Probation Revocation Suspension Trust Account Waiver of Broker ...

NJ Real Estate Exam 2023 REAL QUESTIONS WITH FULL SOLUTIONS. If a broker is expecting to receive 6% commission on a sale of $250,000 house, what will the commission be? a) $750 b) $1,500 c) $7,500 d) $15,000 - ANSWER d A lot measuring 240' by 400' is selling for $400 a front foot. What is the price? a) $1,600 b) $16,000 c) $72,000 d) $96,000 - ANSWER d If the frontage of a half acre lot is 100 feet, how deep is it? a) 154 ft b) 218 ft c) 248 ft d) 436 ft - ANSWER b An acre...

NJ Real Estate Exam 2023 (Questions and answers, 100% verified) Broker One who buys and sells for another for a fee. Broker-Salesperson A qualified broker who practices real estate in the position of salesperson in another broker's office bureau of subsidized land sales control regulations covering out of state properties sold in NJ continuing education 12 hours required every two years, two of which must be on ethics NJ Real Estate Commission Department of Banking and Insurance. 8 ...

NJ Real Estate Exam - Timelines & Fines Practice Questions 2024. How long from class end date to pass the School and State Exam and submit license application - correct answer 1 year How long must a Salesperson wait until they are eligible for a Broker's license - correct answer 3 years full-time Members of the Real Estate Commission Serve terms of - correct answer 3 years Broker Candidates require additional classroom education in the amount of (hours) - correct answer 150 hours A...

NJ Title Insurance Producer Final Exam Set with Q&A "A" and "B" bought a house as tenants in common. If "A" dies which of the following statements about ownership of the house is correct? A) It automatically becomes tenancy in severalty. B) It is divided, with B retaining their original interest and the balance going to A's estate. C) B holds fee simple ownership to A's share of the property D) B holds a life estate ownership to A's share of the property - CORRECT ANSWER-B) ...

NJ Title Insurance 2024 Real Verified Exam Abandonment - CORRECT ANSWER-when someone with legal possession of property leaves without intention of reclaiming rights abstract of title - CORRECT ANSWER-A summary of the title history including all encumbrances. Acceleration clause - CORRECT ANSWER-Mortgage clause demanding full payment upon default accretion - CORRECT ANSWER-New land added by the elements, such as a river delta Accrued Depreciation - CORRECT ANSWER-Total of all deterio...

NJ Real Estate Exam Questions and Answers All Correct When a buyer purchases a property subject to a seller's existing mortgage... - Answer-the seller's obligations under the existing mortgage remain unchanged A licensee preparing a competitive market analysis (CMA) has information on a comparable property that is similar in all respects to the subject property except that, while the subject property is ten years old and has two baths, the comparable property is five years old and has one...

Exam Guide for NJ Title Insurance Licensing Study Material All of the following are characteristic of an ALTA loan EXCEPT: A. Exceptions B. Exclusions C. Contingencies D. Conditions - CORRECT ANSWER-C. Contingencies The policy limit noted in a title insurance policy applies to: A. Each defect B. Each claim C. Per year D. Cumulative claims - CORRECT ANSWER-D. Cumulative claims Zoning ordinances are establish by: A. Home builders B. Local Government C. Lender D. All the above - C...