NJ Title Producer Title Final Ques ons and answers
Newest RATED A+ 2025/2026 WITH COMPLETE
SOLUTION 100% VERIFIED CORRECT
"A" and "B" bought a house as tenants in common. If "A" dies which of the following statements
about ownership of the house is correct?
A) It automa cally becomes tenancy in severalty.
B) It is divided, with B retaining their original interest and the balance going to A's estate.
C) B holds fee simple ownership to A's share of the property
D) B holds a life estate ownership to A's share of the property - CORRECT ANSWERS B) It is
divided, with B retaining their original interest and the balance going to A's estate.
The difference between the value of a property and the total amount of liens against it is
known as:
A) A down payment
B) Equity
C) Actual cash value
D)Collateral - CORRECT ANSWERS B) Equity
If a husband and wife take tle to a property as tenants in common, they may also have elected
to have:
A) Title in severalty
B) Separate life estates
C) The right of survivorship
D) Unequal shares of ownership - CORRECT ANSWERS D) Unequal shares of ownership
, A person who openly, con nuously and hos lely occupies another's land for a period set by a
statute may gain tle by means of:
A) Voluntary aliena on
B) Accre on
C) Prescrip on
D) Adverse possession - CORRECT ANSWERS D) Adverse possession
Truth-In-Lending Act requires the lender to furnish an applicant for a real estate loan with a
copy of an:
A) Amoriza on schedule
B) Disclosure statement
C) Deed
D) Financial statement - CORRECT ANSWERS B) Disclosure statement
The seller is responsible for which of the following costs at closing:
A) The realty transfer tax
B) The tle search
C) The Deed recording fee
D) Title insurance - CORRECT ANSWERS A) The realty transfer tax
When private property is abandoned the state may acquire tle to that property under the
right of :
A) Escheat
B) Eminent domain
C) Police power
D) Taxa on - CORRECT ANSWERS A) Escheat
,The term hypotheca on most closely means:
A) Condi onal security for debt
B) Condi onal ownership of property
C) A right of first refusal
D) Condi onal mortgage commitment - CORRECT ANSWERS A) Condi onal security for debt
A CORRECT statement about condominium and coopera ve apartment owners is that they
both:
A) Receive an annual real estate tax bill
B) Must pas assessments
C) Own shares of stock
D) Own real property - CORRECT ANSWERS B) Must pas assessments
Which of the following is not necessary to a valid contract:
A) Considera on
B) Contractual ability
C) Legal purpose
D) The signature of both par es - CORRECT ANSWERS D) The signature of both par es
Which is NOT true of a tax lien sale?
A) Title passes with the sale
B) The lien holder is the lowest interest bidder
C) The municipality may hold the lien
D) The property owner has two years to pay the lien - CORRECT ANSWERS A) Title passes with
the sale
Which would be a credit to the purchaser at se8lement?
, A) The balance of an exis ng mortgage to be assumed
B) Taxes overpaid by the seller
C) Fuel oil remaining in the tank
D) Unpaid new mortgage - CORRECT ANSWERS A) The balance of an exis ng mortgage to be
assumed
In a condominium apartment project, the BEST term to describe a swimming pool and laundry
room for the use of unite owners is?
A) Common elements
B) Limited common elements
C) Fee simple elements
D) Leasehold elements - CORRECT ANSWERS A) Common elements
When homeowners itemize deduc ons in compu ng their annual taxable income they may
deduct:
A) Payments of principal on the home mortgage
B) Interest paid on the home mortgage
C) Deprecia on of the home
D) Cost of repair - CORRECT ANSWERS B) Interest paid on the home mortgage
Dual Agency is best described as:
A) Two companies working together
B) Owing special du es to another person
C) Brokers taking both par es as principals
D) None of the above - CORRECT ANSWERS C) Brokers taking both par es as principals
Newest RATED A+ 2025/2026 WITH COMPLETE
SOLUTION 100% VERIFIED CORRECT
"A" and "B" bought a house as tenants in common. If "A" dies which of the following statements
about ownership of the house is correct?
A) It automa cally becomes tenancy in severalty.
B) It is divided, with B retaining their original interest and the balance going to A's estate.
C) B holds fee simple ownership to A's share of the property
D) B holds a life estate ownership to A's share of the property - CORRECT ANSWERS B) It is
divided, with B retaining their original interest and the balance going to A's estate.
The difference between the value of a property and the total amount of liens against it is
known as:
A) A down payment
B) Equity
C) Actual cash value
D)Collateral - CORRECT ANSWERS B) Equity
If a husband and wife take tle to a property as tenants in common, they may also have elected
to have:
A) Title in severalty
B) Separate life estates
C) The right of survivorship
D) Unequal shares of ownership - CORRECT ANSWERS D) Unequal shares of ownership
, A person who openly, con nuously and hos lely occupies another's land for a period set by a
statute may gain tle by means of:
A) Voluntary aliena on
B) Accre on
C) Prescrip on
D) Adverse possession - CORRECT ANSWERS D) Adverse possession
Truth-In-Lending Act requires the lender to furnish an applicant for a real estate loan with a
copy of an:
A) Amoriza on schedule
B) Disclosure statement
C) Deed
D) Financial statement - CORRECT ANSWERS B) Disclosure statement
The seller is responsible for which of the following costs at closing:
A) The realty transfer tax
B) The tle search
C) The Deed recording fee
D) Title insurance - CORRECT ANSWERS A) The realty transfer tax
When private property is abandoned the state may acquire tle to that property under the
right of :
A) Escheat
B) Eminent domain
C) Police power
D) Taxa on - CORRECT ANSWERS A) Escheat
,The term hypotheca on most closely means:
A) Condi onal security for debt
B) Condi onal ownership of property
C) A right of first refusal
D) Condi onal mortgage commitment - CORRECT ANSWERS A) Condi onal security for debt
A CORRECT statement about condominium and coopera ve apartment owners is that they
both:
A) Receive an annual real estate tax bill
B) Must pas assessments
C) Own shares of stock
D) Own real property - CORRECT ANSWERS B) Must pas assessments
Which of the following is not necessary to a valid contract:
A) Considera on
B) Contractual ability
C) Legal purpose
D) The signature of both par es - CORRECT ANSWERS D) The signature of both par es
Which is NOT true of a tax lien sale?
A) Title passes with the sale
B) The lien holder is the lowest interest bidder
C) The municipality may hold the lien
D) The property owner has two years to pay the lien - CORRECT ANSWERS A) Title passes with
the sale
Which would be a credit to the purchaser at se8lement?
, A) The balance of an exis ng mortgage to be assumed
B) Taxes overpaid by the seller
C) Fuel oil remaining in the tank
D) Unpaid new mortgage - CORRECT ANSWERS A) The balance of an exis ng mortgage to be
assumed
In a condominium apartment project, the BEST term to describe a swimming pool and laundry
room for the use of unite owners is?
A) Common elements
B) Limited common elements
C) Fee simple elements
D) Leasehold elements - CORRECT ANSWERS A) Common elements
When homeowners itemize deduc ons in compu ng their annual taxable income they may
deduct:
A) Payments of principal on the home mortgage
B) Interest paid on the home mortgage
C) Deprecia on of the home
D) Cost of repair - CORRECT ANSWERS B) Interest paid on the home mortgage
Dual Agency is best described as:
A) Two companies working together
B) Owing special du es to another person
C) Brokers taking both par es as principals
D) None of the above - CORRECT ANSWERS C) Brokers taking both par es as principals
