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COLIBRI SCHOOL EXAM NJ LATEST ACTUAL EXAM 100 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) $8.29
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COLIBRI SCHOOL EXAM NJ LATEST ACTUAL EXAM 100 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS)

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  • COLIBRI SCHOOL
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  • COLIBRI SCHOOL

COLIBRI SCHOOL EXAM NJ LATEST ACTUAL EXAM 100 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS)

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  • November 14, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • colibri school exam
  • colibri school exam nj latest actual exa

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  • COLIBRI SCHOOL
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COLIBRI SCHOOL EXAM NJ LATEST 2024-2025 ACTUAL EXAM 100
QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES
(VERIFIED ANSWERS)
Regulation Z requires the disclosure of which of following?

A. Respa
B. APR
B. APR
C. NAR
D. CMA
Two men own a parcel of land as joint tenants. One of them
dies, and his will stipulates that his interest will pass to his wife
and, upon her death, to hiss children. What type of estate do the
children have?
D. no estate
A. Estate in reversion
B. Estate in remainder
C. Life estate
D. No estate
Something of value offered by one part and accepted by another
as inducement to perform is called

A. Acknowledgment D. Consideration
B. Boot
C. Conveyance
D. Consideration
The unities of time, title, interest and possession are directly
connected with

A. Tenancy in common D. Joint tenancy
B. Remainder interest
C. Communalproperty
D. Joint tenancy
A sellers broker must transmit to her principal

A. Copies of all advertisements on the property
D. All written offers
B. All offers that are reasonable
C. All written offers that are reasonable
D. All written offer
If the owners of a property sell it themselves, even though they
have an exclusive agency listing with a broker, they owe the
broker
D. No commission
A. The full commission
B. One-half the commission
C. A commission that must be settled through arbitration
D. No commission
Which of the following does NOT hold a leasehold estate?

A. Tenant for years
D. Tenant at sufferance
B. Life tenant
C. Tenant at will
D. Tenant at sufferance
A loan used for temporary financing is a

A. VA loan
C. Construction loan
B. FHA 203(b) loan
C. Construction loan
D. Land contract
In a sale-leaseback agreement, the




, COLIBRI SCHOOL EXAM NJ LATEST 2024-2025 ACTUAL EXAM 100
QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES
(VERIFIED ANSWERS)
A. Grantor becomes the landlord
B. Grantee becomes the tenant
C. Grantor becomes the lessee
C. Grantor becomes the lessee
D. Grantor becomes the assignee
A man and a woman are not married but own property together.
The man dies in an accident and the woman now owns the
property in severalty. The man and the woman must have held title
in
D. Joint tenancy
A. Tenancy by the entirety
B. Tenancy in common
C. Life tenancy
D. Joint tenancy
When a lease provides that the lessee shall be responsible for all
expenses, it is known as

A. Gross lease C. Net lease
B. Percentage lease
C. Net lease
D. Index lease
The lease that requires no advance notification to terminate it at
the end of its term is called

A. periodic tenancy C. Estate for years
B. month to month
C. Estate for years
D. Year to year
The cost approach would most likely be used for which of the
following?

A. Single family house C. Public building
B. Apartment building
C. Public building
D. Office building
Which of the following liens takes precedence over all others?

A. Judgement against the seller
C. Delinquent special assessment charge
B. Purchase money mortgage taken by the seller
C. Delinquent special assessment charge
D. First mortgage recorded by a bank
If an owner in severalty dies testate, the property will be

A. Probated and passed on to the owners heirs according to the
law of descent B. Probated and passed on to the owners devisees
B. Probated and passed on to the owner's devisees
C. Automatically vested in the other tenant
D. Automatically subject to the law os escheat
The smallest unit of measure in the rectangular survey system is
known as a

A. Township B. Section
B. Section
C. Benchmark
D. Monument
In a blanket mortgage, what clause gives the developer the right
to sell an individual lot without having to pay off the entire principal
amount?

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