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New Jersey Real Estate Exam Questions and Complete Solutions Graded A+
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New Jersey Real Estate Exam Questions and Complete Solutions Graded A+
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New Jersey RealEstate Exam
Questions and
Complete Solutions
Graded A+
Denning [Date] [Course title]
, The Real estate Full Disclosure Act Regulates... - Answer: the offering of out-of-state properties when
conducted in, or directed into NJ (advertised in NJ)
What is Accretion? - Answer: Gradual build-up of land in a watercourse by the depositing of sand or silt
What is alluvion? - Answer: the actual deposits of sand, silt or soil deposited through accretion
what is avulsion? - Answer: the sudden separation of land from one property and its attachment to
another, especially by flooding or a change in the course of a river
What does ad valorem mean? - Answer: "according to value" and is how property is taxed
Describe agency - Answer: the difuciary relationship between agent and principal
What is the alienation clause? - Answer: the "due on sale clause"
What are appurtenances? - Answer: All rights and privileges that result from ownership of specific
property and which move with the title
What is a Bill of Sale used for? - Answer: To transfer ownership of personal property
Who is the Client? - Answer: the principal of the agent
Who is the Customer? - Answer: the party the agent brings to the principal as the buyer or seller of the
property
What is a completion bond? - Answer: a bond a developer posts with the municipality to ensure the
improvements to a subdivision will be satisfactorily completed.
What is a conditional use permit? - Answer: a permit from the panning board to use the property for a
purpose not otherwise permitted in that zone
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