1|Page
NJ Real Estate School Practice Exam ||Verified
Exam!!|| Most Recent Exam Actual Complete Real
Exam Questions And Correct Answers (Expertly
Verified Answers) Already Graded A+ | Guaranteed
Success!! Newest Exam!!!
Jane Smith gave the hospital a vacant lot for "as long as it
is used for hospital purposes". The hospital owns a:
A. fee determinable
B. remainder interest
C. homestead
D. leasehold estate - Answer-A. fee determinable
Which of the following situations will NOT delay closing
under TRID rules?
A. escrow amount for taxes and insurance was changed
B. lender could not document applicant's overtime
C. applicant decided on a different loan program
D. prepayment penalty was added - Answer-A. escrow
amount for taxes and insurance was changed
,2|Page
Federal income tax regulations allow a homeowner to
reduce taxable income by amounts paid for:
A. interest and property tax
B. repairs and maintenance
C. insurance problems
D. all of the above - Answer-A. interest and property tax
Continuing education courses may be taken:
A. in a classroom only
B. exclusively over the internet
C. entirely by mail
D. by mail, internet, or classroom - Answer-D. by mail,
internet, or classroom
The new combined federal TRID:
A. requires a lender to provide a Loan Estimate within
three business days of completed loan application
, 3|Page
B. forbids use of the term annual percentage rate
C. prevents a broker from saying "FHA financing available"
in a classified ad
D. requires all mortgage loan applications to be made on
standard government forms - Answer-A. requires a lender
to provide a Loan Estimate within three business days of
completed loan application
A married couple who meet the ownership and occupancy
requirements may sell a principal residence with no
federal capital gains tax on profit of up to:
A. $125,000
B. $250,000
C. $500,000
D. any amount - Answer-C. $500,000
The amount of commission due a salesperson is
determined by
A. agreement between broker and seller
B. agreement between broker and salesperson
NJ Real Estate School Practice Exam ||Verified
Exam!!|| Most Recent Exam Actual Complete Real
Exam Questions And Correct Answers (Expertly
Verified Answers) Already Graded A+ | Guaranteed
Success!! Newest Exam!!!
Jane Smith gave the hospital a vacant lot for "as long as it
is used for hospital purposes". The hospital owns a:
A. fee determinable
B. remainder interest
C. homestead
D. leasehold estate - Answer-A. fee determinable
Which of the following situations will NOT delay closing
under TRID rules?
A. escrow amount for taxes and insurance was changed
B. lender could not document applicant's overtime
C. applicant decided on a different loan program
D. prepayment penalty was added - Answer-A. escrow
amount for taxes and insurance was changed
,2|Page
Federal income tax regulations allow a homeowner to
reduce taxable income by amounts paid for:
A. interest and property tax
B. repairs and maintenance
C. insurance problems
D. all of the above - Answer-A. interest and property tax
Continuing education courses may be taken:
A. in a classroom only
B. exclusively over the internet
C. entirely by mail
D. by mail, internet, or classroom - Answer-D. by mail,
internet, or classroom
The new combined federal TRID:
A. requires a lender to provide a Loan Estimate within
three business days of completed loan application
, 3|Page
B. forbids use of the term annual percentage rate
C. prevents a broker from saying "FHA financing available"
in a classified ad
D. requires all mortgage loan applications to be made on
standard government forms - Answer-A. requires a lender
to provide a Loan Estimate within three business days of
completed loan application
A married couple who meet the ownership and occupancy
requirements may sell a principal residence with no
federal capital gains tax on profit of up to:
A. $125,000
B. $250,000
C. $500,000
D. any amount - Answer-C. $500,000
The amount of commission due a salesperson is
determined by
A. agreement between broker and seller
B. agreement between broker and salesperson
