Nj re school practice exam 2024/2025 with 100% correct answers
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Course
Nj re school practice
Institution
Nj Re School Practice
Regulation Z requires the disclosure of which of following?
A. Respa
B. APR
C. NAR
D. CMA correct answersB. APR
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 typ...
Regulation Z requires the disclosure of which of following?
A. Respa
B. APR
C. NAR
D. CMA correct answersB. APR
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?
A. Estate in reversion
B. Estate in remainder
C. Life estate
D. No estate correct answersD. no estate
Something of value offered by one part and accepted by another as inducement to perform is called
A. Acknowledgment
B. Boot
C. Conveyance
D. Consideration correct answersD. Consideration
The unities of time, title, interest and possession are directly connected with
A. Tenancy in common
B. Remainder interest
,C. Communalproperty
D. Joint tenancy correct answersD. Joint tenancy
A sellers broker must transmit to her principal
A. Copies of all advertisements on the property
B. All offers that are reasonable
C. All written offers that are reasonable
D. All written offer correct answersD. All written offers
If the owners of a property sell it themselves, even though they have an exclusive agency listing with a
broker, they owe the broker
A. The full commission
B. One-half the commission
C. A commission that must be settled through arbitration
D. No commission correct answersD. No commission
Which of the following does NOT hold a leasehold estate?
A. Tenant for years
B. Life tenant
C. Tenant at will
D. Tenant at sufferance correct answersD. Tenant at sufferance
A loan used for temporary financing is a
A. VA loan
B. FHA 203(b) loan
, C. Construction loan
D. Land contract correct answersC. Construction loan
In a sale-leaseback agreement, the
A. Grantor becomes the landlord
B. Grantee becomes the tenant
C. Grantor becomes the lessee
D. Grantor becomes the assignee correct answersC. Grantor becomes the lessee
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
A. Tenancy by the entirety
B. Tenancy in common
C. Life tenancy
D. Joint tenancy correct answersD. Joint tenancy
When a lease provides that the lessee shall be responsible for all expenses, it is known as
A. Gross lease
B. Percentage lease
C. Net lease
D. Index lease correct answersC. Net lease
The lease that requires no advance notification to terminate it at the end of its term is called
A. periodic tenancy
B. month to month
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