NJ REAL ESTATE PRACTICE EXAM 2021 /
STRATEGIES OF KEY QUIZZES & CORRECT
ANSWERS.
Terms in this set (95)
The type of deed that Bargain and Sale Deed, CAG
warrants only that the
grantor has not impaired the
title during the term in which
he held it is referred to as.
1. Quitclaim Deed
2. General Warranty
Deed3. Bargain and Sale
Deed
4. Bargain and Sale Deed,
CAG
Special Assessments
Taxes raised to pay for
improvements that benefit
real estate are referred to as
1. Special Assessments
2. Facilities Taxes
3. Ad Valorem Taxes
4. Luxury Rates
,After Borrowers have
indicated an intent to
proceed, the lender
1. is prohibited from
askingfor any additional
information
2. approves their
loanapplication
3. can ask for
additionalfees to process the
loan application.
4. can provide
atemporary approval letter
In a blanket mortgage, the Partial Release Clause
clause that allows the
developer the right to sell an
individual lot without having
to pay off the entire principal
amount is called a
1. Partial Release Clause
2. Subordination Clause
3. Defeasance Clause
4. Prepayment Clause
Which of these documents is Deeds- Must be notarized
typically recorded in the
public records?
1. Sales Contract
2. Deed
3. Closing statement (CD)
4. Loan Estimate (LE)
,Which law prohibits ALL Civil Rights Act of 1866
racial discrimination in
housing, with no exceptions?
1. Jones v Mayer Act
2. Fair Housing Act of 1968
3. Civil Rights Act of 1965
4. Civil Rights Act of 1866
In order to convert an oral 5 Days
agreement into a written
listing, the broker must
deliver a written
memorandum of the
agreement to the client
within how many days?
1. 5 days
2. 10 days
3. 30 days
4. 1 day
In New Jersey, a Tenancy by the entirety
conveyance to a married
couple creates a
1. Tenancy by the entirety
2. Partnership
3. Tenancy in common
4. Joint Tenancy
, A seller's broker must transmit
to her principle
1. All written offers
2. All reasonable
writtenoffers
3. All reasonable offers4.
Copies of all advertisements on
the property.
Which of these protects Mechanic's or construction lien
suppliers and laborers?
1. Encroachment
2. License
3. Mechanic's
orconstruction lien
4. Easement
A man and a woman are not
married but own property
together. The man dies in an
accident and the woman
now owns the property in
severalty. The man and
woman held
the title in
1. Tenancy in Common
2. Tenancy by the entirety
3. Joint Tenancy
4. Life Tenancy
STRATEGIES OF KEY QUIZZES & CORRECT
ANSWERS.
Terms in this set (95)
The type of deed that Bargain and Sale Deed, CAG
warrants only that the
grantor has not impaired the
title during the term in which
he held it is referred to as.
1. Quitclaim Deed
2. General Warranty
Deed3. Bargain and Sale
Deed
4. Bargain and Sale Deed,
CAG
Special Assessments
Taxes raised to pay for
improvements that benefit
real estate are referred to as
1. Special Assessments
2. Facilities Taxes
3. Ad Valorem Taxes
4. Luxury Rates
,After Borrowers have
indicated an intent to
proceed, the lender
1. is prohibited from
askingfor any additional
information
2. approves their
loanapplication
3. can ask for
additionalfees to process the
loan application.
4. can provide
atemporary approval letter
In a blanket mortgage, the Partial Release Clause
clause that allows the
developer the right to sell an
individual lot without having
to pay off the entire principal
amount is called a
1. Partial Release Clause
2. Subordination Clause
3. Defeasance Clause
4. Prepayment Clause
Which of these documents is Deeds- Must be notarized
typically recorded in the
public records?
1. Sales Contract
2. Deed
3. Closing statement (CD)
4. Loan Estimate (LE)
,Which law prohibits ALL Civil Rights Act of 1866
racial discrimination in
housing, with no exceptions?
1. Jones v Mayer Act
2. Fair Housing Act of 1968
3. Civil Rights Act of 1965
4. Civil Rights Act of 1866
In order to convert an oral 5 Days
agreement into a written
listing, the broker must
deliver a written
memorandum of the
agreement to the client
within how many days?
1. 5 days
2. 10 days
3. 30 days
4. 1 day
In New Jersey, a Tenancy by the entirety
conveyance to a married
couple creates a
1. Tenancy by the entirety
2. Partnership
3. Tenancy in common
4. Joint Tenancy
, A seller's broker must transmit
to her principle
1. All written offers
2. All reasonable
writtenoffers
3. All reasonable offers4.
Copies of all advertisements on
the property.
Which of these protects Mechanic's or construction lien
suppliers and laborers?
1. Encroachment
2. License
3. Mechanic's
orconstruction lien
4. Easement
A man and a woman are not
married but own property
together. The man dies in an
accident and the woman
now owns the property in
severalty. The man and
woman held
the title in
1. Tenancy in Common
2. Tenancy by the entirety
3. Joint Tenancy
4. Life Tenancy
