Nj real estate exam 1 - Study guides, Class notes & Summaries

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...

NJ Real Estate Pre-licensing Exam 1 Questions & Answers 2024. Real Estate License Act - correct answer Title 45, Chapter 15 Rules and regulations set up by the Real Estate Commission - correct answer Title 11, Chapter 5, Administrative Code Number of Members in Real Estate Commission - correct answer 8 Number of Real Estate Brokers on Commission - correct answer 5 Number of Members of General Public on Real Estate Commission - correct answer 2 Number of years a person on the Real...

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 - 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 Real Estate – Exam Chapter 1 Questions and Answers Continuing education requirements mandate at least two hours' instruction in A. ethics B. law of agency C. current financing options D. local issues - Answer-A. ethics In order to avoid an additional processing fee, licensees should complete their required continuing education courses during the renewal year on or before A. April 30 of the renewal year B. May 1 of the renewal year C. June 1 of the renewal year D. June...

NJ REAL ESTATE EXAM - PRACTICE EXAM MATH QUESTIONS CLEARLY SOLVED TEST 2024. 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 - correct answer d) $15,000 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 - correct answer d) $96,000 If the frontage of a half acre lot is 100 feet, how deep is it? a) 154 ...

Final Exam NJ - Real Estate Part 1 Questions with Correct Answers Unlike employees, sales persons who are independent contractors CANNOT rely on their brokers for - Answer-health insurance benefits After receiving a commission payment, a broker must pay the salesperson's share within - Answer-ten days In acting as fiduciary for a principal, the broker must - Answer-place the principal's interest above all others Megan's Law statement on real estate contracts and leases advis...

NJ Title Insurance Exam with Correct and Verified Solution A deed recorded in Maryland conveys Greenacre to Frank for life and at his death to Jane, her personal representative and assigns the interest vested in Frank and Jane by this deed are commonly referred to as A. Fee simple B. Life estate remainder C. Free hold and non-freehold D. Vested life estate and contingent remainder - CORRECT ANSWER-B. Life estate remainder What is MAHT? A. Maryland Administration Household Training...

NJ Real Estate Exam Practice Questions with Verified Answers According to fair housing, which of these is not a protected class? A. muslim B. arab C. homosexual D. single mother C. homosexual The front door key to a house is: A. chattel B. fixture C. improvement D. trade fixture B. fixture The phrase "bundle of legal rights" is properly included in: A. the definition of real property B. a legal description C. real estate transactions D. leases for less than one year A. the definiti...

NJ Real Estate Chapter 1 Complete Study Guide Exam 2024 Broker - correct answer individual licensed to charge the public for real estate services Broker Salesperson - correct answer fully qualified broker who remains under another brokers's supervision Bureau of Subdivided Land Sales Control - correct answer State agency that approves and registers some out -of-state property Continuing education - correct answer classes required for license renewal Guaranty Fund - correct answer R...