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

NJ Real Estate contracts Test with Complete Solutions Acceptance - Answer-Voluntary expression by the offeree to be bound by the exact terms of the offer; must be unconditional Assignment - Answer-The method or manner by which a right or contract such as a lease or mortgage is transferred from one person to another Binder - Answer-An agreement to cover s down payment for the purchase of real estate as evidence of good faith on the part of the purchaser; shows the receipt of a deposit and ...

PSI NJ Real Estate Exam, PSI Practice Test, Complete Correct answers 2022.

PSI NJ Real Estate Exam, PSI Practice Test, Complete Correct answers 2022. 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...

PSI NJ Real Estate Exam, PSI Practice Test, Complete Correct answers 2022. 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...

NJ Real Estate Exam Key Terms Real Estate Calculations Mathematics Question and answers correctly solved 2023/2024 100% - correct answer One whole unit (100 parts that make up a unit) 50% - correct answer 50 parts of the possible 100 parts that make up a whole unit Percentages greater than 100% (ex: 112%) - correct answer Contain more than one unit; 112% is one whole unit and 12 parts of another whole unit True or false: A percentage does not have to be converted when completing real ...

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...

NJ Real Estate Exam Key Terms Real Estate Calculations Mathematics Correctly Solved2024. 100% - correct answer One whole unit (100 parts that make up a unit) 50% - correct answer 50 parts of the possible 100 parts that make up a whole unit Percentages greater than 100% (ex: 112%) - correct answer Contain more than one unit; 112% is one whole unit and 12 parts of another whole unit True or false: A percentage does not have to be converted when completing real estate calculations - corre...

NEW JERSEY (NJ) Real Estate Practice Exam with Answers 2023 26. A seller's agent is contacted by a potential buyer whose financial status is questionable. When asked to write an offer, the agent should A. Refuse tow rite the offer. B. Insist on a prompt closing. C. Rask for a high earnest money payment. D. Relay any reservations to the seller. Answer D 27. A broker who charges or collects an advance fee in excess of $25 for services to be rendered MUST A. Deduct the amount collected f...

Practice Test 2- NJ Real Estate Exam (Multiple Choice) Answered 100% Correct According to fair housing, which of these is not a protected class? A. muslim B. arab C. homosexual D. single mother *ANS* C. homosexual The front door key to a house is: A. chattel B. fixture C. improvement D. trade fixture *ANS* 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. le...