NJ Title Producer Title Final EXAM WITH COMPLETE
QUESTIONS AND 100% CORRECT DETAILED
ANSWERS||BRAND NEW!!
All of the following requirements are necessary to the
establishment of an agency relationship EXCEPT:
A) An agreement between the parties
B) Competent parties
C) A lawful objective
D) Earnest money - ANSWER-D) Earnest money
If a husband and wife take title 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 - ANSWER-D) Unequal
shares of ownership
A person who openly, continuously and hostilely occupies
another's land for a period set by a statute may gain title
by means of:
A) Voluntary alienation
B) Accretion
C) Prescription
D) Adverse possession - ANSWER-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) Amorization schedule
B) Disclosure statement
C) Deed
D) Financial statement - ANSWER-B) Disclosure
statement
The seller is responsible for which of the following costs at
closing:
A) The realty transfer tax
B) The title search
C) The Deed recording fee
D) Title insurance - ANSWER-A) The realty transfer tax
, When private property is abandoned the state may acquire
title to that property under the right of :
A) Escheat
B) Eminent domain
C) Police power
D) Taxation - ANSWER-A) Escheat
The term hypothecation most closely means:
A) Conditional security for debt
B) Conditional ownership of property
C) A right of first refusal
D) Conditional mortgage commitment - ANSWER-A)
Conditional security for debt
QUESTIONS AND 100% CORRECT DETAILED
ANSWERS||BRAND NEW!!
All of the following requirements are necessary to the
establishment of an agency relationship EXCEPT:
A) An agreement between the parties
B) Competent parties
C) A lawful objective
D) Earnest money - ANSWER-D) Earnest money
If a husband and wife take title 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 - ANSWER-D) Unequal
shares of ownership
A person who openly, continuously and hostilely occupies
another's land for a period set by a statute may gain title
by means of:
A) Voluntary alienation
B) Accretion
C) Prescription
D) Adverse possession - ANSWER-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) Amorization schedule
B) Disclosure statement
C) Deed
D) Financial statement - ANSWER-B) Disclosure
statement
The seller is responsible for which of the following costs at
closing:
A) The realty transfer tax
B) The title search
C) The Deed recording fee
D) Title insurance - ANSWER-A) The realty transfer tax
, When private property is abandoned the state may acquire
title to that property under the right of :
A) Escheat
B) Eminent domain
C) Police power
D) Taxation - ANSWER-A) Escheat
The term hypothecation most closely means:
A) Conditional security for debt
B) Conditional ownership of property
C) A right of first refusal
D) Conditional mortgage commitment - ANSWER-A)
Conditional security for debt
