real nj real estate |157 final exam Test Question Review With Correct Answers |D0wnload to score A+|2024|63 Pages

A tax assessor determined that a commercial building with a 3.5% mortgage has a market value of $400,000. If the assessed value is 60% of market value and the tax rate is 63 1/2 mills, what is the annual tax? A. $5,305.50 B. $8,837.50 C. $15,150.00 D. $25,250.00 - ️️C. 15,150.00 Which of the following statements about airborne radon is TRUE? o. A. it has an easily detectable odor. B. its only found in older wood frame structures. C. is inexpensively detected and mitigated. D. itis not harmful to adults who do not smoke. - ️️C. is inexpensively detected and mitigated. Which of the following statements is the BEST example of puffing? 2 A. Since the bus stop is only 1 block away, the home has excellent access to public transportation. B. This is the best buy you'll find all year. C. This home has been fitted with double paned windows, as can be seen in the brochure. D. This property has a net property income of $7,500. - ️️B. This is the best buy you'll find all year. Ted and Carol want to buy s house that Is listed for $105,000. The seller accepts the offer they wrote for $5,000 less than list price. They have a 20% down payment and need to get "- an 80% LTV mortgage. Their lender offers them a 30 yr. mortgage at 5.5% interest. The taxes are $1,494 per year and the insurance Is $480 per year. How much is their monthly PIT!