Which of the following is among the typical responsibilities of a residential property
manager?
1. requesting the tenant's employer withhold the past due rent from wages
2. making decisions about structural changes that wilt enhance the property value
3. selecting tenants to provide a diverse environment
4. negotiating leases between the property owner and potential tenants
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3. selecting tenants to provide a diverse environment
A National company desires a parcel of land which must be four times the size of its
proposed building. If the building design includes 20,000 square feet, then which
which of the following minimum sized lots should be purchased?
A) 1 acre
,B) 2 acres
C) 4 acres
D) 8 acres
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B) 2 acres
The lead paint addendum that must be presented with the purchase and sales
contract for certain older homes will:
1. require the removal of all lead paint prior to the closing.
2. provide the buyer with the opportunity to wave the right to a lead paint inspection.
3. mandate the sellers remove any lead paint only on interior walls.
4. make the sellers liable of the buyer's lead related medical problems
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2. provide the buyer with the opportunity to wave the right to a lead paint
inspection.
Real estate taxes that are paid in advanced are prorated on the closing statement as.
a. no entry to buyer; a credit to seller.
b. no entry to buyer; a debit to seller.
c. a credit to buyer; a debit to seller.
d. a debit to buyer; a credit to seller.
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, d. a debit to buyer; a credit to seller
An applicant for a real estate salesperson's license must apply for the issuance of the
license within
a. 30 days after accepting an offer of employment from a licensed real estate broker
b. one year from the date of beginning of the prelicensure education course
c. one year from the date of completion of the prelicensure education course
d. one year from the date of passing the state licensing examination
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c. one year from the date of completion of the prelicensure education
course
What is the interest rate on an interest only loan of $120,000 if quarterly interest
payments are $2,700?
a. 2.25%
b. 4.50%
c. 6.75%
d. 9.00%
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d. 9.00%
, According to New Jersey Real Estate Licensing Law, what is the maintenance
requirement for all records of real estate transactions?
a. 10 days
b. 1 year
c. 6 months
d. 6 years
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d. 6 years
A lender requested that the entire loan balance be paid immediately because the
property which the loan was made had been sold. What clause in the mortgage loan
allows this?
a. Alienation clause
b. Prepayment clause
c. Condemnation clause
d. Defeasance clause
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A. Alienation clause
A broker maintains a property management trust (escrow) account which has the
clients funds in it. the brokers accounting records show that client Smith has a
negative $1,000 balance in it whereas client Jones has $2,000 balance in his account
a. this is OK because there is more than enough to cover the thousand dollar shortfall
so there is no overdraft
b. this is a violation of the real estate license laws
c. this is a violation of federal banking regulations
manager?
1. requesting the tenant's employer withhold the past due rent from wages
2. making decisions about structural changes that wilt enhance the property value
3. selecting tenants to provide a diverse environment
4. negotiating leases between the property owner and potential tenants
Give this one a try later!
3. selecting tenants to provide a diverse environment
A National company desires a parcel of land which must be four times the size of its
proposed building. If the building design includes 20,000 square feet, then which
which of the following minimum sized lots should be purchased?
A) 1 acre
,B) 2 acres
C) 4 acres
D) 8 acres
Give this one a try later!
B) 2 acres
The lead paint addendum that must be presented with the purchase and sales
contract for certain older homes will:
1. require the removal of all lead paint prior to the closing.
2. provide the buyer with the opportunity to wave the right to a lead paint inspection.
3. mandate the sellers remove any lead paint only on interior walls.
4. make the sellers liable of the buyer's lead related medical problems
Give this one a try later!
2. provide the buyer with the opportunity to wave the right to a lead paint
inspection.
Real estate taxes that are paid in advanced are prorated on the closing statement as.
a. no entry to buyer; a credit to seller.
b. no entry to buyer; a debit to seller.
c. a credit to buyer; a debit to seller.
d. a debit to buyer; a credit to seller.
Give this one a try later!
, d. a debit to buyer; a credit to seller
An applicant for a real estate salesperson's license must apply for the issuance of the
license within
a. 30 days after accepting an offer of employment from a licensed real estate broker
b. one year from the date of beginning of the prelicensure education course
c. one year from the date of completion of the prelicensure education course
d. one year from the date of passing the state licensing examination
Give this one a try later!
c. one year from the date of completion of the prelicensure education
course
What is the interest rate on an interest only loan of $120,000 if quarterly interest
payments are $2,700?
a. 2.25%
b. 4.50%
c. 6.75%
d. 9.00%
Give this one a try later!
d. 9.00%
, According to New Jersey Real Estate Licensing Law, what is the maintenance
requirement for all records of real estate transactions?
a. 10 days
b. 1 year
c. 6 months
d. 6 years
Give this one a try later!
d. 6 years
A lender requested that the entire loan balance be paid immediately because the
property which the loan was made had been sold. What clause in the mortgage loan
allows this?
a. Alienation clause
b. Prepayment clause
c. Condemnation clause
d. Defeasance clause
Give this one a try later!
A. Alienation clause
A broker maintains a property management trust (escrow) account which has the
clients funds in it. the brokers accounting records show that client Smith has a
negative $1,000 balance in it whereas client Jones has $2,000 balance in his account
a. this is OK because there is more than enough to cover the thousand dollar shortfall
so there is no overdraft
b. this is a violation of the real estate license laws
c. this is a violation of federal banking regulations
