Real estate state nj exam Study guides, Class notes & Summaries

PSI Real Estate State Exam (NJ) Questions with Correct Answers updated Upon written request of seller - AnswerDeposit monies may NOT be disbursed to the seller in which circumstance B. $3,900 - AnswerBuyer write an offer for $325,000 with 20% down payment is accepted. They must pay 1 1/2 discount points to obtain financing. What amount will they owe for points? C. No, because the seller has not accepted the offer - AnswerA licensee listed a property that had an unfinished garage. The li...

NJ REAL ESTATE PRACTICE EXAM 2023 ARIZONA STATE UNIVERSITY COMPLETE SET

NJ Real estate Exam Prep Questions and Answers (100% Pass) estimate value of a 50 unit apartment complex, accurate estimate? - answer-gross rent multiplier once an offer to purchase is presented to seller, the: - answer-offer may be withdrawn at any time prior to the delivery of its acceptance irs allows married couple tax free capital gain up to? - answer-$500,000 seller a entered into an option contract with buyer b. the contract price is $200,000 which seller a will honor for a ...

1. When a land owner uses his land as security for a loan, the encumbrance created is called. ANS C. an involuntary lien 2. If an owner wants to list a property for sale "as is," the listing agent should ANS C. Question the seller to any known defects 3. According to the New Jersey Real Estate Time Share Act, if a licensee is selling a timeshare located within the state of New Jersey, all of the following are true EXCEPT that the ANS A. licensee must hold a timeshare license 4. May a New...

How long from class end date to pass the School and State Exam and submit license application - Answer- 1 year How long must a Salesperson wait until they are eligible for a Broker's license - Answer- 3 years full-time Members of the Real Estate Commission Serve terms of - Answer- 3 years Broker Candidates require additional classroom education in the amount of (hours) - Answer- 150 hours All NJ Licenses expire on - Answer- 6/20 of odd years (every 2 years) Brokers must return al...

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...

NJ Real estate Exam Prep Question and answers rated A+ 2023/2024An Appraisal made by a Certified appraiser is REQUIRED? - correct answer WHEN THE BUYER IS USING A FHA LOAN TO PURCHASE Greatest advantage of using FHA financing when buyer plans to occupy? - correct answer 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? - correct answer Contingency Conditio...

NJ Real Estate Exam - Timelines & Fines Practice Questions 2024. How long from class end date to pass the School and State Exam and submit license application - correct answer 1 year How long must a Salesperson wait until they are eligible for a Broker's license - correct answer 3 years full-time Members of the Real Estate Commission Serve terms of - correct answer 3 years Broker Candidates require additional classroom education in the amount of (hours) - correct answer 150 hours A...

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...

NJ REAL ESTATE EXAM 2023 REAL QUESTIONS WITH FULL SOLUTIONS. 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 AN...