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

Broker - ANSWERSOne who buys and sells for another for a fee. Broker-Salesperson - ANSWERSA qualified broker who practices real estate in the position of salesperson in another broker's office bureau of subsidized land sales control - ANSWERSregulations covering out of state properties sold in NJ continuing education - ANSWERS12 hours required every two years, two of which must be on ethics NJ Real Estate Commission - ANSWERSDepartment of Banking and Insurance. 8 members. 5 brokers ...

Chapter 3 - Answer New Jersey License Laws real estate commission - Answer 8 members - 5 brokers who have been state residents for atleast 10 years - 2 members of the public - 1 government designee the real estate commission is funded by? - Answer the department of banking and insurance how many days of notice are needed for the real estate commission to search broker records? - Answer zero what kind of power does the real estate commission have? - Answer subpoena power Sales...

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 in NJ continuing education - Answer 12 hours required every two years, two of which must be on ethics NJ Real Estate Commission - Answer Department of Banking and Insurance. 8 members. 5 brokers ...

NJ Title Insurance 2024 Real Verified Exam Abandonment - CORRECT ANSWER-when someone with legal possession of property leaves without intention of reclaiming rights abstract of title - CORRECT ANSWER-A summary of the title history including all encumbrances. Acceleration clause - CORRECT ANSWER-Mortgage clause demanding full payment upon default accretion - CORRECT ANSWER-New land added by the elements, such as a river delta Accrued Depreciation - CORRECT ANSWER-Total of all deterio...

Broker - CORRECT ANSWER Individual licensed to charge the public for real estate services Broker-Salesperson - CORRECT ANSWER fully qualified broker who remains under another broker'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 Reimburses people defrauded or badly s...

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 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) $96,000 - ANSWER d If the frontage of a half acre lot is 100 feet, how deep is it? a) 154 ft b) 218 ft c) 248 ft d) 436 ft - ANSWER b

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 - ANSWERSC. A Free dinner for attendees at a homebuyers' evening seminar Depreciation usually applies to . A. the building only. B. the land only. C. both the land and the building. D. income obtained fro...

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 - ANSWERSC. A Free dinner for attendees at a homebuyers' evening seminar Depreciation usually applies to . A. the building only. B. the land only. C. both the land and the building. D. income obtained fro...

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 - ANSWERSC. A Free dinner for attendees at a homebuyers' evening seminar Depreciation usually applies to . A. the building only. B. the land only. C. both the land and the building. D. income obtained fro...

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 - ANSWERSC. A Free dinner for attendees at a homebuyers' evening seminar Depreciation usually applies to . A. the building only. B. the land only. C. both the land and the building. D. income obtained fro...