8/5/25, 9:36 AM NJ Real Estate Exam 2025 Flashcards | Quizlet
NJ Real Estate Exam 2025
Save
Terms in this set (101)
Which two documents are A
necessary to establish a The promissory note outlines the borrower's promise
legally binding mortgage to repay the loan, while the deed of trust secures the
loan? property as collateral for the loan
A. Promissory note and
deed of trust
B. Sales Contract and
mortgage agreement
C. Title Insurance and
appraisal report
D. Warranty deed and
lease agreement
https://quizlet.com/1063979870/nj-real-estate-exam-2025-flash-cards/?new 1/51
,8/5/25, 9:36 AM NJ Real Estate Exam 2025 Flashcards | Quizlet
If a buyer defaults on a B
sales contract after Earnest money serves as a form of security deposit
providing $10,000 as and is typically forfeited by the buyer in the event of
earnest money for a default as a way to compensate the seller for any
$200,000 property, what losses or damages
can the seller do with the
$10,000?
A. Return the entire
amount to the buyer
B. Keep the entire amount
as compensation
C. Deduct any incurred
expenses and return the
remaining amount
D. Distribute the money
among the real estate
agents involved
Surface rights, air rights A
and subsurface rights are Surface Rights, Air Rights, and Subsurface Rights can
all rights that can be sold be sold separately and are called Severable Rights.
by a property owner while
still retaining the property
itself. These rights are
known as:
A. Severable Rights
B. Littoral Rights
C. Owner's Rights
D. Riparian Rights
https://quizlet.com/1063979870/nj-real-estate-exam-2025-flash-cards/?new 2/51
,8/5/25, 9:36 AM NJ Real Estate Exam 2025 Flashcards | Quizlet
When an easement allows B
the use of a neighboring Appurtenant means "runs with the land". An Easement
property which Appurtenant is an easement allowing the use of a
automatically transfers neighboring property which automatically transfers
upon the sale of either upon the sale of either dominant or servient property
dominant or servient
property, it is called what
type of easement?
A. Easement by
Prescription
B. Easement Appurtenant
C. Easement in Gross
D. Easement of Utility
In real estate, what is the A
closest meaning to the "Quieting a title" refers to the legal process of
term "quieting a title"? resolving any claims, defects, or disputes that could
A. Clearing any liens or cloud or challenge the ownership rights of a property,
encumbrances on a ensuring a clear and marketable title.
property
B. Transferring ownership
from the seller to the
buyer
C. Resolving disputes over
property boundaries
D. conducting a thorough
property inspection
https://quizlet.com/1063979870/nj-real-estate-exam-2025-flash-cards/?new 3/51
, 8/5/25, 9:36 AM NJ Real Estate Exam 2025 Flashcards | Quizlet
What is the highest form D
of land ownership which Free Simple Absolute Freehold Estate is the highest
includes the full and level of property ownership giving the owner(s) the
complete bundle of right of possession, control, exclusion, enjoyment, &
property rights? disposition
A. Fee Simple Defeasible
B. Fee Simple
Determinable
C. Fee Simple Condition
Subsequent
D. Fee Simple Absolute
If your broker sells a A
triangular parcel of land Remember 1 acre =43560 sqft
for $750 an acre, and your
commission rate is 8%,
what will be your
commission if the land has
a base length of 1,200 feet
and a height of 700 feet?
A. $578.51
B. $1,680.20
C. $2,520.05
D. $3,360
https://quizlet.com/1063979870/nj-real-estate-exam-2025-flash-cards/?new 4/51
NJ Real Estate Exam 2025
Save
Terms in this set (101)
Which two documents are A
necessary to establish a The promissory note outlines the borrower's promise
legally binding mortgage to repay the loan, while the deed of trust secures the
loan? property as collateral for the loan
A. Promissory note and
deed of trust
B. Sales Contract and
mortgage agreement
C. Title Insurance and
appraisal report
D. Warranty deed and
lease agreement
https://quizlet.com/1063979870/nj-real-estate-exam-2025-flash-cards/?new 1/51
,8/5/25, 9:36 AM NJ Real Estate Exam 2025 Flashcards | Quizlet
If a buyer defaults on a B
sales contract after Earnest money serves as a form of security deposit
providing $10,000 as and is typically forfeited by the buyer in the event of
earnest money for a default as a way to compensate the seller for any
$200,000 property, what losses or damages
can the seller do with the
$10,000?
A. Return the entire
amount to the buyer
B. Keep the entire amount
as compensation
C. Deduct any incurred
expenses and return the
remaining amount
D. Distribute the money
among the real estate
agents involved
Surface rights, air rights A
and subsurface rights are Surface Rights, Air Rights, and Subsurface Rights can
all rights that can be sold be sold separately and are called Severable Rights.
by a property owner while
still retaining the property
itself. These rights are
known as:
A. Severable Rights
B. Littoral Rights
C. Owner's Rights
D. Riparian Rights
https://quizlet.com/1063979870/nj-real-estate-exam-2025-flash-cards/?new 2/51
,8/5/25, 9:36 AM NJ Real Estate Exam 2025 Flashcards | Quizlet
When an easement allows B
the use of a neighboring Appurtenant means "runs with the land". An Easement
property which Appurtenant is an easement allowing the use of a
automatically transfers neighboring property which automatically transfers
upon the sale of either upon the sale of either dominant or servient property
dominant or servient
property, it is called what
type of easement?
A. Easement by
Prescription
B. Easement Appurtenant
C. Easement in Gross
D. Easement of Utility
In real estate, what is the A
closest meaning to the "Quieting a title" refers to the legal process of
term "quieting a title"? resolving any claims, defects, or disputes that could
A. Clearing any liens or cloud or challenge the ownership rights of a property,
encumbrances on a ensuring a clear and marketable title.
property
B. Transferring ownership
from the seller to the
buyer
C. Resolving disputes over
property boundaries
D. conducting a thorough
property inspection
https://quizlet.com/1063979870/nj-real-estate-exam-2025-flash-cards/?new 3/51
, 8/5/25, 9:36 AM NJ Real Estate Exam 2025 Flashcards | Quizlet
What is the highest form D
of land ownership which Free Simple Absolute Freehold Estate is the highest
includes the full and level of property ownership giving the owner(s) the
complete bundle of right of possession, control, exclusion, enjoyment, &
property rights? disposition
A. Fee Simple Defeasible
B. Fee Simple
Determinable
C. Fee Simple Condition
Subsequent
D. Fee Simple Absolute
If your broker sells a A
triangular parcel of land Remember 1 acre =43560 sqft
for $750 an acre, and your
commission rate is 8%,
what will be your
commission if the land has
a base length of 1,200 feet
and a height of 700 feet?
A. $578.51
B. $1,680.20
C. $2,520.05
D. $3,360
https://quizlet.com/1063979870/nj-real-estate-exam-2025-flash-cards/?new 4/51
