NJ Real Estate Exam Package Deal

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 - Answer Bargain and Sale Deed, CAG Taxes raised to pay...

Broker - Answer One who buys and sells for another for a fee. Broker-Salesperson - Answer A qualified broker who practices real estate in the position of salesperson in another broker's office bureau of subsidized land sales control - Answer regulations covering out of state properties sold i...

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

Which of the following is a permitted free offering? o- A. A complimentary home warranty with every listing B. A coupon for a discounted commission on listing services C. A free dinner for attendees at a homebuyers' evening seminar D. Free use of a local moving van for all listings - AC. A Free...

1. A real estate licensee has a buyer agency agreement. What is the seller in this situation? A. a customer B. a client C. a fiduciary D. an agent - Answer A. There's an important distinction between client and customer. Unless there is a specific agreement to the contrary, licensees rep...

Broker - Answer Individual licenses to charge the public for real estate services. Broker-salesperson - Answer Fully qualified broker who remains under another broker's supervision Bureau of Subdivided Land sales Control - Answer State agency that approves and registers some out-of-state prop...

Who appoints the 8 members of the New Jersey Real Estate Commission? - Answer Governor Who makes the payments to a claimant from the Guaranty Fund? - Answer The state treasurer Agent Louis Lee is working with several people from his home town in Hong Kong. They sought him out because he speaks...

Title 45 - Answer New Jersey's real estate license law is known as Draw up a binding lease for a new tenant in a property the resident owns - Answer an unlicensed New Jersey resident may two years - Answer a real estate license is valid for 18 - Answer according to the law, to obtain a sal...

owns MUST? a) list the same property with another licensee in the same office b) disclose the ownership interest in any advertisement of the property c) disclose the ownership interest in any notice submitted on the listing to the MLS d) disclose in the contract of sale that the seller holds a...

Three identical homes in a neighborhood were listed at the same time in a market where demand was constant. According to the law of supply and demand, which would have sold for the lowest price? - Answer The first sold. When compiling a competitive market analysis, a broker would look for compara...

Mark, a licensed broker, procures a ready, willing, and able buyer for his seller-principal. The seller accepts the buyer's offer in writing. Just before the schedule closing, the seller has a change of heart and refuses to sell. Mark - Answer is entitle to collect a full commission A real estat...

1. Many states determine the order of water rights according to which users of the water hold a recorded beneficial use permit. This allocation of water rights is determined by: A. accretion. B. riparian theory. C. littoral theory. D. the doctrine of prior appropriation. - Answer D. All t...

An Appraisal made by a Certified appraiser is REQUIRED? - Answer WHEN THE BUYER IS USING A FHA LOAN TO PURCHASE Greatest advantage of using FHA financing when buyer plans to occupy? - Answer THE REQUIRED DOWN PAYMENT MAY BE LOWER THAN CONVENTIONAL LOANS What should buyer put in purchase offer ...

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 - 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)...