Nj re school practice exam UPDATE/PRACTICE QUESTIONS AND CORRECT
VERIFIED ANSWERS (complete solutions) ASSURED SUCCESS/GRADED
A+!!!
Regulation Z requires the disclosure of which of following?
A. Respa
B. APR
C. NAR
D. CMA - 100% correct answer is B. APR
Two men own a parcel of land as joint tenants. One of them dies, and his
will stipulates that his interest will pass to his wife and, upon her death, to
hiss children. What type of estate do the children have?
A. Estate in reversion
B. Estate in remainder
C. Life estate
D. No estate - 100% correct answer is D. no estate
Something of value offered by one part and accepted by another as
inducement to perform is called
A. Acknowledgment
,B. Boot
C. Conveyance
D. Consideration - 100% correct answer is D. Consideration
The unities of time, title, interest and possession are directly connected
with
A. Tenancy in common
B. Remainder interest
C. Communalproperty
D. Joint tenancy - 100% correct answer is D. Joint tenancy
A sellers broker must transmit to her principal
A. Copies of all advertisements on the property
B. All offers that are reasonable
C. All written offers that are reasonable
D. All written offer - 100% correct answer is D. All written offers
If the owners of a property sell it themselves, even though they have an
exclusive agency listing with a broker, they owe the broker
A. The full commission
B. One-half the commission
C. A commission that must be settled through arbitration
D. No commission - 100% correct answer is D. No commission
,Which of the following does NOT hold a leasehold estate?
A. Tenant for years
, B. Life tenant
C. Tenant at will
D. Tenant at sufferance - 100% correct answer is D. Tenant at sufferance
A loan used for temporary financing is a
A. VA loan
B. FHA 203(b) loan
C. Construction loan
D. Land contract - 100% correct answer is C. Construction loan
In a sale-leaseback agreement, the
A. Grantor becomes the landlord
B. Grantee becomes the tenant
C. Grantor becomes the lessee
D. Grantor
becomes the assignee - 100% correct answer is C. Grantor
becomes the lessee
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 the woman must have held title in
A. Tenancy by the entirety
B. Tenancy in common
C. Life tenancy
D. Joint tenancy - 100% correct answer is D. Joint tenancy
VERIFIED ANSWERS (complete solutions) ASSURED SUCCESS/GRADED
A+!!!
Regulation Z requires the disclosure of which of following?
A. Respa
B. APR
C. NAR
D. CMA - 100% correct answer is B. APR
Two men own a parcel of land as joint tenants. One of them dies, and his
will stipulates that his interest will pass to his wife and, upon her death, to
hiss children. What type of estate do the children have?
A. Estate in reversion
B. Estate in remainder
C. Life estate
D. No estate - 100% correct answer is D. no estate
Something of value offered by one part and accepted by another as
inducement to perform is called
A. Acknowledgment
,B. Boot
C. Conveyance
D. Consideration - 100% correct answer is D. Consideration
The unities of time, title, interest and possession are directly connected
with
A. Tenancy in common
B. Remainder interest
C. Communalproperty
D. Joint tenancy - 100% correct answer is D. Joint tenancy
A sellers broker must transmit to her principal
A. Copies of all advertisements on the property
B. All offers that are reasonable
C. All written offers that are reasonable
D. All written offer - 100% correct answer is D. All written offers
If the owners of a property sell it themselves, even though they have an
exclusive agency listing with a broker, they owe the broker
A. The full commission
B. One-half the commission
C. A commission that must be settled through arbitration
D. No commission - 100% correct answer is D. No commission
,Which of the following does NOT hold a leasehold estate?
A. Tenant for years
, B. Life tenant
C. Tenant at will
D. Tenant at sufferance - 100% correct answer is D. Tenant at sufferance
A loan used for temporary financing is a
A. VA loan
B. FHA 203(b) loan
C. Construction loan
D. Land contract - 100% correct answer is C. Construction loan
In a sale-leaseback agreement, the
A. Grantor becomes the landlord
B. Grantee becomes the tenant
C. Grantor becomes the lessee
D. Grantor
becomes the assignee - 100% correct answer is C. Grantor
becomes the lessee
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 the woman must have held title in
A. Tenancy by the entirety
B. Tenancy in common
C. Life tenancy
D. Joint tenancy - 100% correct answer is D. Joint tenancy
