Nj re Study guides, Class notes & Summaries

NJ Real Estate Exam Questions According to New Jersey License Law, A licensee who wants to sell property that the licensee 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 New Jersey Real Estate license d. disclose in the contract of sale that th...

The right of a utility company to enter someone's property for the purpose of repairing or maintaining the utility service is called (A.) an easement in gross (B.) an easement appurtenant (C.) eminent domain (D.) a prescriptive easement - Answer- (A.) An easement in gross Mark, Linda, Susanne and George own a property as joint tenants. Linda sells her interest to Phil. What is the relationship of the parties? (A.) Phil replaces Linda as a joint tenant with 25% interest in the ...

NJ Real Estate Broker's ExamThe right of a utility company to enter someone's property for the purpose of repairing or maintaining the utility service is called (A.) an easement in gross (B.) an easement appurtenant (C.) eminent domain (D.) a prescriptive easement - correct answer (A.) An easement in gross Mark, Linda, Susanne and George own a property as joint tenants. Linda sells her interest to Phil. What is the relationship of the parties? (A.) Phil replaces Linda as a jo...

NJ Real Estate ExamBranch Office - correct answer broker's additional place of business commingling - correct answer mixing broker's money with that of others duplicate original - correct answer copy of a real estate contract with original signatures probation - correct answer least severe discipline by the real estate commission A licensed salesperson is allowed to - correct answer leave one broker and affiliate with another Under some circumstances, a real estate office may be...

NJ Real Estate Exam Questions with Correct Answers Branch Office - Answer-broker's additional place of business commingling - Answer-mixing broker's money with that of others duplicate original - Answer-copy of a real estate contract with original signatures probation - Answer-least severe discipline by the real estate commission A licensed salesperson is allowed to - Answer-leave one broker and affiliate with another Under some circumstances, a real estate office may be in th...

A tax assessor determined that a commercial building with a 3.5% mortgage has a market value of $400,000. If the assessed value is 60% of market value and the tax rate is 63 1/2 mills, what is the annual tax? A. $5,305.50 B. $8,837.50 C. $15,150.00 D. $25,250.00 correct answers C. 15,150.00 Which of the following statements about airborne radon is TRUE? o. A. it has an easily detectable odor. B. its only found in older wood frame structures. C. is inexpensively detected and mitigated....

NJ REAL ESTATE PRACTICE EXAM 2021 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 - ANS Bargain and Sale Deed, CAG Taxes raised to pay for improvements that benefit real estate are referred to as 1. Special Assessments 2. Facilities Taxes 3. Ad Valorem Taxes 4. Luxury Rates - ANS Spe...

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NJ Real estate Exam Prep Latest 2023 Graded A+ An Appraisal made by a Certified appraiser is REQUIRED? WHEN THE BUYER IS USING A FHA LOAN TO PURCHASE Greatest advantage of using FHA financing when buyer plans to occupy? THE REQUIRED DOWN PAYMENT MAY BE LOWER THAN CONVENTIONAL LOANS What should buyer put in purchase offer to make sure they would NOT have to purchase, if they CANNOT obtain financing? Contingency Conditions does NOT create stigmatized property that may or may not be disclosed un...

PSI NJ Real Estate Exam, PSI Practice Test. Water Rights The terms "littoral," "riparian," and "appropriative" refer to A salesperson lists a property with a contract that allows for subagency and dual agency. The salesperson is an agent to the broker and a subagent to the principal. Depreciation is calculated based on the Cost of the building only. When a property owner uses his home as collateral for a loan and creates a lien in favor of the lender, title is held by the Mor...