Under what condition may someone who lives outside of NJ be licensed as a non resident broker?

What is the minimum amount of time a licensee has studied for a real estate brokers license?

Who administers real estate licenses in NJ?

Who is the authorized broker for a real estate company?

What is the maximum payment from the Guaranty Fund for any one offense?

With whom may a broker agree to share a commission?

Where must a broker deposit clients’ or customers’ deposits?

For which transaction is a licensed salesperson allowed to prepare a sales contract?

How many Continuing Education hours, if any, are required for a salesperson to renew their license?

What charge is levied against a broker who mixes personal money with funds in the trust account?

What must be included in any sales contracts prepared by a licensee?

What is the last thing to be done when changes are made to a document after the initial signing?

Who does the licensee represent when serving as a transaction broker?

What is the broker-salesperson permitted to do?

What is the opposite of losing land by erosion?

What is another term for personalty?

What is being determined by looking at the intent of the parties and method of attachment?

How do trade fixtures differ from regular fixtures?

The attorney assures her client that no one else has a claim to the real estate she is buying and that she has a complete bundle of rights in the property. What type of estate is the client buying?

A 👩 deeds her vacation cottage to her 🧓🏼, w/ provision that at death, she will automatically become owner again— during his lifetime what does the woman own?

What type of encumbrance is a mortgage?

Under what circumstances, if any, may a husband who owns the family home in his own name sell it without his wife’s signature?

Among the following, how is priority determined when a parcel of real estate has two mortgages on it?

What does the term conveying property mean?

How is ownership of real estate by one person referenced?

What does the buyer of a condominium apartment receive?

A NJ couple buys a home together soon after they are married, with nothing specific stated in the deed about their ownership. The husband, who paid for the house, is killed in a car crash. What does his widow now own?

What coowners may NOT ask for the property to be divided?

A couple bought their oceanfront home in 1954 for $17K. This year, they decided to retire to Florida, and they sold the house for $325K. How will their profit be taxed?

Who is offered partial exemptions from property taxes in Nj?

What is a purpose of a special assessment?

A home is worth $160K and the town assessments run at 60% of market value. If the tax rate is 37 mills, how much is the property tax bill?

What lien is given priority on a given parcel of real estate?

What is redlining?

What is true about the Civil Rights Act of 1866?

What federal civil rights protection is offered to housing seekers?

How can real property be changed to personal property?

What federal civil rights protection is offered to housing seekers?

Even if a property owner is expempted from certain discrimination laws, which of these state taxes regarding a real estate licensee is correct?

What is it called when real estate agents use scare tactics regarding possible change in the makeup of a neighborhood while soliciting for lisitings?

A woman is advertising for a tenant for the other half of her home. Which of these ads would violate fair housing laws?

What is permitted under the Federal Fair Housing Act?

What protected class has been added by the New Jersey Law Against Discrimination to the protections listed in the federal fair housing laws?

What position are sellers to someone specifically retained as a buyer’s broker?

Who is the broker’s principal?

In NJ, what type of agent is the broker who offers services without owing fiduciary duties to either buyer or seller?

What potential latent defect is a seller’s broker legally required to disclose to a potential buyer?

What information is a listing broker legally required to advise a seller about?

Which of these comments would be considered a breach of fidicduary duties to the seller?

What is the agent’s duty when the buyers confide to a listing agent, “we’ll offer $250,000, but if they don’t take that, we’re prepared to go higher”?

What law is violated when a listing agent tells sellers “commission rates are standard in this community”

What is the possible environmental issue that the Environmental Protection Agency wants buyers of homes built before 1978 to be aware of?

Which environmental problem is relatively easy to solve?

What is the court process by which the state enforces its right to acquire private land for public use?

What issue is addressed in New Jersey’s Mount Laurel decisions?

Who issues a certificate of occupancy?

Who places deed restrictions on a property?

A subdivision has deed restrictions stating that homes can be built only on 5-acre lots, although the town itself requires only 1/3 acre lots. A man buys 1 acres in the subdivision. Can he obtain a building permit from the town?

What are the possible consequences if a seller cancels a listing?

Who are the parties to a listing agreement?

What type of listing agreement allows the seller to pay a commission only to whichever broker produces an acceptable buyer?

What type of listing allows the owner to retain the right to sell without paying a commission to the one agent hired?

The seller agreed with her agent that, so long as the seller receives $300K when her house is sold, the agent can keep anything more that he can get. What type of listing is this?

Of what value is a comparative market analysis?

What type of listing requires that the seller pay a commission to the listing agent no matter who sells the property?

What does the term liquidated damages refer to?

What kind of listing is MOST likely to motivate a real estate broker to invest time and effort?

Who needs to know the amount of the commission split that the listing broker offers a cooperating broker who finds the successful buyer?

What should the comparative market analysis take into consideration when assisting the seller in setting a good asking price?

If a sales contract is prepared by a salesperson or broker, the buyer and the seller each have how many days in which to obtain review by their own attorneys?

What is similar to a binder and deposit receipt?

What is it called when a sales contract becomes legally enforceable only after the buyer receives a satisfactory report from a home inspector?

When is an offer legally considered accepted?

A man took out a mortgage loan to buy his first home. The day after the closing, the man discovers that he can obtain a loan with a more favorable rate at another lending institution. How long does he have to cancel the first loan?

What term is applied to the promise that each party gives to another in a contract?

What does it mean when the word executed is applied to a contract?

A man signs a contract to sell his house to a woman. Before closing, the man changes his mind and refuses to sell. He offers the woman a few thousand dollars to void the contract, but she really wants that particular house. What rights does she have?

What is another term for a land contract?

For which of the following purchases can real estate licenses fill out the sales contracts?

According to the statute of frauds, which of the following NJ contracts must be in writing in order to be legally enforceable?

When a couple divorces, the husband signs a deed turning over his share of the house to his former wife. A few years later, she is unable to make the mortgage payments. From whom may the bank try to collect the unpaid debt?

When must a security deposit, minus itemized deductions for damage, be returned to the department tenant?

What happens to the tenant’s security deposit when the rental property is sold?

For what type of rental property does a lease not become binding until the tenant has received a lead paint disclosure statement?

In most cases, the store that rents space in a shopping mall is on what type of lease?

Why do residential landlords insist on being aware fo and giving permission for any tenant improvements?

What document serves as a personal promise to repay the debt of a mortgage, with the owner pledging the property as security for the loan?

Under what circumstance is the buyer who takes over a mortgage already on the property NOT personally responsible for the debt?

When a foreclosed property is sold, what guarantee is made to the buyer?

Who is the mortgage lender?

When would the 3-day Attorney Review period NOT apply?

A couple wants to pay off he mortgage loan earlier than scheduled. What are the prepayment penalties in NJ?

What term refers to illegal charging of unreasonably high interest rates?

The seller has agreed to pay two points to the bank in return for the buyer securing a mortgage loan on a house selling for $225K with a 10% down payment. How much will this cost the seller?

Are any points paid to secure a mortgage loan deductible from income taxes?

Who offers below-market interest rates to qualified borrowers?

What kind of mortgage debt grows gradually larger instead of being paid down?

What type of mortgage loans offer artificially low “teaser” rates?

What is the primary function of mortgage brokers?

To what can a home equity loan be compared?