Nj re - Study guides, Class notes & Summaries

NJRealEstateExamPracticeQuestionsand Answers. According to fair housing, which of these is not a protected class? A. muslim B. arab C. homosexual D. single mother - Correct Answer C. homosexual The front door key to a house is: A. chattel B. fixture C. improvement D. trade fixture - Correct Answer B. fixture

NJ REAL ESTATE PRACTICE EXAM 2021 The type of deed that warrants only that the grantor has not impaired the title during the term in which he held it is referred to as. 1. Quitclaim Deed 2. General Warranty Deed 3. Bargain and Sale Deed 4. Bargain and Sale Deed, CAG - ANS Bargain and Sale Deed, CAG Taxes raised to pay for improvements that benefit real estate are referred to as 1. Special Assessments 2. Facilities Taxes 3. Ad Valorem Taxes 4. Luxury Rates - ANS Spe...

"IN REM" indicates Liens are against the - Answer Property rather than against the person. "MAJOR LINES " - Answer life health property casualty personal lines property surplus lines title insurance "MINOR LINES " - Answer bail bonds credit ticket group mort. cancel. mortgage guaranty legal insurance self-storage "Notice Of Settlement" is good for - Answer 45 days "Reinsurance treaty"/Treaties are usually - Answer neg...

Seller A entered into an option contract with Buyer B. The contract allowed for a price of $200,000 which Seller A honor for a 12 month period exclusively for Buyer B. This would be an example of a - Answer-a unilateral contract in which only seller A has made a promise to perform. The purchased price for a new home was $230,000. The buyer put down 20%, and the balance was a mortgage for 80%of the purchase price. The appraised value at the time of closing was $220,000. What will the buyer p...

PSI NJ Real Estate Exam / PSI Practice Test - Q & A The Equal Credit Opportunity Act addresses all of the following EXCEPT a. discrimination in lending b. written statements of credit denial c. acceptable factors for borrower analysis d. standardization of interest rates Under the terms of their listing contract, the owners may sell their house themselves and pay no commission. If their agent sells it, a commission will be due. What kind of listing contract do the owners have? exclusive agency...

When talking with a broker about listing his home for sale, Frank Jackson made it clear that he " did not want to have the house shown to people who would change the neighborhood". What must the broker do? a. Refuse the listing if Frank intends to violate the Law Against Discrimination b. Refuse the listing unless Frank is willing to offer seller-financing c. Accept the listing on the condition that Frank will not be present when the house is shown d. Accept the listing after expla...

Regulation Z requires the disclosure of which of following? A. Respa B. APR C. NAR D. CMA - Answer B. APR Two men own a parcel of land as joint tenants. One of them dies, and his will stipulates that his interest will pass to his wife and, upon her death, to hiss children. What type of estate do the children have? A. Estate in reversion B. Estate in remainder C. Life estate D. No estate - Answer D. no estate Something of value offered by one part and accepted by anothe...

NJ Real Estate 2024 Exam Questions with Correct Answers Broker - Answer-is authorized to operate a real estate business, hire salespersons, and to charge the public for services. Broker-salesperson - Answer-Has fulfilled all the requirements of a broker yet chooses to work in a sales capacity for and in the name of another broker. Continuing Education - Answer-All Broker, broker-salespersons, and salespersons licensees must complete 12 hours of approved continuing education courses befor...

PSI NJ Real Estate Exam, PSI Practice Test. Water Rights The terms "littoral," "riparian," and "appropriative" refer to A salesperson lists a property with a contract that allows for subagency and dual agency. The salesperson is an agent to the broker and a subagent to the principal. Depreciation is calculated based on the Cost of the building only. When a property owner uses his home as collateral for a loan and creates a lien in favor of the lender, title is held by the Mor...

NJ Real Estate Commission - correct answer Administration of NJ RE licenses by? Dept. of Banking and Insurance - correct answer NJ Real Estate Commission is under Real Estate License Act Title 14 Chapter 15 - correct answer Licenses governed by? Title 11, Chapter 5 - correct answer Rules and regulation...