Nj property license - Study guides, Class notes & Summaries

nj driver's knowledge test practice questionsIn addition to a possible fine, when operating a vehicle on a public or private property to avoid a traffic control signal or sign, a motorist will also receive a: - correct answer 2 point moving violation If your wheels drift onto the dirt shoulder of the road and you want to return to the paved road, you should: - correct answer Slow down, and slightly turn the steering wheel towards the roadway When parking downhill on a street with a curb, ...

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 members. 5 brokers for at least 10 years, two from general...

NJ Property Insurance Practice Exam With 100% Correct Answers 2023 What are the nine prohibited trade practices? 1. misrepresentation 2. false advertising 3. defamation 4. rebates 5. false financial statements 6. stock operations & advisory contracts 7. boycott, coercion, intimidation 8. unfair discrimination 9. unfair claim settlement practices Which government body has principal responsibility for regulating the insurance industry in NJ? a. insurance department b. governor c. s...

What are the methods of managing risk? Avoidance, transfer, sharing, retention, reduction What is the fee a person pays an insurance company to receive coverage? Premium Self -insuring is typically used for what type of insurance? Workers compensation A tornado that destroys a property would be an example of what? Peril A state-issued document empowering an insurance company to become an admitted insurer is called what? Certificate of Authority Why are the...

NJ Real Estate Actual Exam Questions with Correct Answers (Rated A+) Sun City Realty holds a door-prize drawing at a weekend open house it runs. This practice... - Answer-violates the commission's rules Donna White, a broker, is offering her mother's house for sale and will charge no commission. Should she reveal that she is a licensed agent? - Answer-Yes, as soon as she meets a prospective buyer The "reasonable effort" licensees are required to make to determine all materia...

NJ Producers License Study Guide (1) with Latest Questions and Expert Solutions-2024 Abandonment ANSWER When a party in legal possession of property leaves without the intention of reclaiming rights Deed must contain ANSWER granting clause, habenbum clause (assigns forever), Metes and Bounds, Grantor promises, acknowledgement Chapter 7 ANSWER Liquidation bankruptcy Chapter 11 ANSWER Reorganization (Corporate) Chapter 12 ANSWER Reorganization (Farm) Chapter 13 ANSWER Reorganization...

PSI Real Estate State Exam (NJ) Updated C. an involuntary lien - correct answer When a land owner uses his land as security for a loan, the encumbrance created is called. C. Question the seller to any known defects - correct answer If an owner wants to list a property for sale "as is," the listing agent should A. licensee must hold a timeshare license - correct answer According to the New Jersey Real Estate Time Share Act, if a licensee is selling a timeshare located within the state of...

NJ Title Insurance Reloaded Final Actual Exam In 1869 in Paul vs Virginia case the the US Supreme Court ruled that insurance? - CORRECT ANSWER-Was not interstate Commerce. In 1944, in the South-Eastern Underwritters Association (SEUA) case, the U.S. Supreme Court ruled that insurance? - CORRECT ANSWER-Was interstate commerce and was subject to Federal regulation. The McCarran-Ferguson Act of 1945 states that individual states are subject to the authority of the? - CORRECT ANSWER-Feder...

NJ Laws, Rules, and Regulations Common to Life, Accident, and Health Property and Casualty 100% Pass An insurer cancelled a contract with a producer on April 1st. By what date must the insurer notify the Commissioner of this action? A. April 30th B. April 5th C. April 11th D. April 15th D. April 15th An insurer goes bankrupt and is unable to pay on any of its insureds' claims. Which of the following will happen? A. The insureds will not be paid. B. The claims will be paid by a n...

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 members. 5 brokers for at least 10 years, two from general public a...