NJ Real Estate Practice Exam 2021 –
Complete Study & Review Questions
The type of deed that 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 Deed
3. Bargain and Sale Deed
4. Bargain and Sale Deed, CAG
Bargain and Sale Deed, CAG
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
Special Assessments
After Borrowers have indicated an intent to proceed, the lender
1. is prohibited from asking for any additional information
2. approves their loan application
3. can ask for additional fees to process the loan application.
4. can provide a temporary approval letter
In a blanket mortgage, the 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
Partial Release Clause
Which of these documents is typically recorded in the public records?
1. Sales Contract
2. Deed
3. Closing statement (CD)
4. Loan Estimate (LE)
Deeds- Must be notarized
Which law prohibits ALL 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
Civil Rights Act of 1866
In order to convert an oral 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
5 Days
In New Jersey, a conveyance to a married couple creates a
1. Tenancy by the entirety
2. Partnership
3. Tenancy in common
4. Joint Tenancy
Tenancy by the entirety
A seller's broker must transmit to her principle
1. All written offers
2. All reasonable written offers
3. All reasonable offers
4. Copies of all advertisements on the property.
, Which of these protects suppliers and laborers?
1. Encroachment
2. License
3. Mechanic's or construction lien
4. Easement
Mechanic's or construction lien
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
The approach that uses the concept of deprecation is the
1. Cost Approach
2. Income Capitalization Approach
3. Reconciliation Approach
4. Sales Comparison Approach
Cost Approach
A property manager's responsibilities generally do NOT include which of the following?
1. Investing profits
2. Renting Units
3. Paying Utilities
4. Collecting security deposits.
Investing Profits
The law of descent applies to what remains of an estate after
1. All real estate has been sold
2. The will has been executed
3. The surviving spouse receives 50 percent.
4. Payment of all debts.
Payment of all debts.
In a real estate advertisement that includes information on mortgage financing, which of the
following is permissible under the truth-in-lending law, without the qualifying words.
1. Liberal Terms available
Complete Study & Review Questions
The type of deed that 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 Deed
3. Bargain and Sale Deed
4. Bargain and Sale Deed, CAG
Bargain and Sale Deed, CAG
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
Special Assessments
After Borrowers have indicated an intent to proceed, the lender
1. is prohibited from asking for any additional information
2. approves their loan application
3. can ask for additional fees to process the loan application.
4. can provide a temporary approval letter
In a blanket mortgage, the 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
Partial Release Clause
Which of these documents is typically recorded in the public records?
1. Sales Contract
2. Deed
3. Closing statement (CD)
4. Loan Estimate (LE)
Deeds- Must be notarized
Which law prohibits ALL 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
Civil Rights Act of 1866
In order to convert an oral 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
5 Days
In New Jersey, a conveyance to a married couple creates a
1. Tenancy by the entirety
2. Partnership
3. Tenancy in common
4. Joint Tenancy
Tenancy by the entirety
A seller's broker must transmit to her principle
1. All written offers
2. All reasonable written offers
3. All reasonable offers
4. Copies of all advertisements on the property.
, Which of these protects suppliers and laborers?
1. Encroachment
2. License
3. Mechanic's or construction lien
4. Easement
Mechanic's or construction lien
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
The approach that uses the concept of deprecation is the
1. Cost Approach
2. Income Capitalization Approach
3. Reconciliation Approach
4. Sales Comparison Approach
Cost Approach
A property manager's responsibilities generally do NOT include which of the following?
1. Investing profits
2. Renting Units
3. Paying Utilities
4. Collecting security deposits.
Investing Profits
The law of descent applies to what remains of an estate after
1. All real estate has been sold
2. The will has been executed
3. The surviving spouse receives 50 percent.
4. Payment of all debts.
Payment of all debts.
In a real estate advertisement that includes information on mortgage financing, which of the
following is permissible under the truth-in-lending law, without the qualifying words.
1. Liberal Terms available
