Real estate state nj exam - Study guides, Class notes & Summaries

1. When a land owner uses his land as security for a loan, the encumbrance created is called. ANS C. an involuntary lien 2. If an owner wants to list a property for sale "as is," the listing agent should ANS C. Question the seller to any known defects 3. According to the New Jersey Real Estate Time Share Act, if a licensee is selling a timeshare located within the state of New Jersey, all of the following are true EXCEPT that the ANS A. licensee must hold a timeshare license 4. May a New...

NJ Real estate Exam Prep Questions and Answers (100% Pass) estimate value of a 50 unit apartment complex, accurate estimate? - answer-gross rent multiplier once an offer to purchase is presented to seller, the: - answer-offer may be withdrawn at any time prior to the delivery of its acceptance irs allows married couple tax free capital gain up to? - answer-$500,000 seller a entered into an option contract with buyer b. the contract price is $200,000 which seller a will honor for a ...

PSI Real Estate State Exam (NJ) Questions with Correct Answers updated Upon written request of seller - AnswerDeposit monies may NOT be disbursed to the seller in which circumstance B. $3,900 - AnswerBuyer write an offer for $325,000 with 20% down payment is accepted. They must pay 1 1/2 discount points to obtain financing. What amount will they owe for points? C. No, because the seller has not accepted the offer - AnswerA licensee listed a property that had an unfinished garage. The li...

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 (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 REAL ESTATE PRACTICE EXAM 2023 ARIZONA STATE UNIVERSITY COMPLETE SET

NJ REAL ESTATE EXAM QUESTIONS WITH COMPLETE SOLUTIONS In a jurisdiction where a seller's property condition disclosure is required, the licensee is responsible for o- A. completing the property condition disclosure. B. ensuring that the seller complete the property condition disclosure before closing. C. ensuring that the buyer receives the property disclosure before the contract Is finalized. D. checking the disclosure for accuracy and ensuring that the buyer receives it before closin...

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 REAL ESTATE EXAM 2023 REAL QUESTIONS WITH FULL SOLUTIONS. Broker - CORRECT ANSWER Individual licensed to charge the public for real estate services Broker-Salesperson - CORRECT ANSWER fully qualified broker who remains under another broker'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 AN...