NJ Title Insurance Exam Questions
With Correct Marking Scheme
/. Abandonment - Answer-✅When a party in legal possession of property leaves without
the intention of reclaiming rights.
/.Abstract of Title - Answer-✅A brief history of the instruments appearing in the county
record that affect title to the parcel in question.
Condensed history of all documents affecting a parcel of real estate
/.Acceleration Clause - Answer-✅Mortgage Clause demanding full payment upon
Default.
/.Accretion - Answer-✅an increase of land caused by the gradual depositing of solid
material
/.Adhesion Contract - Answer-✅A non negotiable contract with terms dictated by one
party.
/.Aleatory Contract - Answer-✅A contract based upon Future uncertain conditions.
/.Administrators Deed - Answer-✅Transfers Title of an intestate by the administrator.
/.Easement by Prescription - Answer-✅Someone has used another persons land for a
certain period of time as defined by state law
(20 years in NJ)
/.Air Rights - Answer-✅Rights to space above a property
Belonging to owner of land below
/.Feudal System - Answer-✅Government owns all property and individuals get rights.
/.Fiduciary - Answer-✅A person or organization that acts on behalf of another person to
manage assets
/.Foreclosure - Answer-✅To seize and sell property pledged for a debt
A forced sale of property to satisfy a lien.
,/.Alluvion - Answer-✅Solid material deposited by a body of water
/.Freehold Estate - Answer-✅An interest in real property whose length cannot be
determined in advance
Estates of indeterminable length - a person may OWN that estate for a lifetime or
forever
ex: Fee simple ; fee determinable ; life estate
/.Avulsion - Answer-✅Sudden change of course of a stream
/.Joint Tenancy - Answer-✅two or more people own property ; nonmarried persons with
right of survivorship
/.ALTA - Answer-✅American Land Title Association
/.Usury - Answer-✅Charging more than (unusually high) the legal limit on interest.
/.Appraisal - Answer-✅A defensible estimate of value by an expert under given market
conditions.
/.Life Estate - Answer-✅Granting of a lifetime interest in the property without the right to
transfer title.
Complete ownership until someone's death
/.Ingress And Egress - Answer-✅The means to gain entrance into or to an exit from a
property
/.Housing and Urban Development (HUD) - Answer-✅A government agency which
oversees National Housing Programs and enforce the Federal Fair Housing Act
/.Real Estate Settlement Procedures Act (RESPA) - Answer-✅To ensure that the buyer
and seller in a residential real estate transaction have knowledge of all settlement costs
; prohibits kickbacks
/.Metes and Bounds - Answer-✅Description makes use of the boundaries and
measurements of the land in question
/.Benchmark - Answer-✅Aid surveyors, permanent reference points
, /.Master Deed - Answer-✅Summary of all Deeds in a condominium project, as well as
describing the interest in common elements.
/.Datum - Answer-✅a point, line, or surface from which elevations are measured or
indicated
/.Bequest - Answer-✅Gift of personal property by Will.
/.General Partnership - Answer-✅A business relationship where all the partners
participate in some extent in the operation and management of the business and may
be held personally liability for business losses and obligations
/.Constructive Eviction - Answer-✅"Self eviction" by the tenant because the property
cannot be used for the purpose for which it was rented.
/.Pur Autre Vie - Answer-✅For The Life Of Another ; A life estate measured by the life
of someone other than the tenant
/.Bilateral Contracts - Answer-✅Both parties promise to do something ; one promise is
given in exchange for another
- real estate contracts
/.Bundle of Rights - Answer-✅Buying the rights previously held by the seller
1) the right of possession
2) the right to use the property in any legal manner
3) the right of enjoyment
4) the right of exclusion
5) the right of disposition
/.Judgement - Answer-✅A court decision regarding the respective claims of the parties
to an action
After recorded, this usually becomes a general lien on the property of the defendant
/.Spot Zoning - Answer-✅A use Variance for a specific property.
/.Set Back - Answer-✅The distance set by zoning ordinances from adjoining property
lines limiting the placement of a building / space between houses
/.General Lien - Answer-✅A lien against all the property / assets someone owns
(Judgements, federal / state taxes, debts of dead person, IRS taxes)
With Correct Marking Scheme
/. Abandonment - Answer-✅When a party in legal possession of property leaves without
the intention of reclaiming rights.
/.Abstract of Title - Answer-✅A brief history of the instruments appearing in the county
record that affect title to the parcel in question.
Condensed history of all documents affecting a parcel of real estate
/.Acceleration Clause - Answer-✅Mortgage Clause demanding full payment upon
Default.
/.Accretion - Answer-✅an increase of land caused by the gradual depositing of solid
material
/.Adhesion Contract - Answer-✅A non negotiable contract with terms dictated by one
party.
/.Aleatory Contract - Answer-✅A contract based upon Future uncertain conditions.
/.Administrators Deed - Answer-✅Transfers Title of an intestate by the administrator.
/.Easement by Prescription - Answer-✅Someone has used another persons land for a
certain period of time as defined by state law
(20 years in NJ)
/.Air Rights - Answer-✅Rights to space above a property
Belonging to owner of land below
/.Feudal System - Answer-✅Government owns all property and individuals get rights.
/.Fiduciary - Answer-✅A person or organization that acts on behalf of another person to
manage assets
/.Foreclosure - Answer-✅To seize and sell property pledged for a debt
A forced sale of property to satisfy a lien.
,/.Alluvion - Answer-✅Solid material deposited by a body of water
/.Freehold Estate - Answer-✅An interest in real property whose length cannot be
determined in advance
Estates of indeterminable length - a person may OWN that estate for a lifetime or
forever
ex: Fee simple ; fee determinable ; life estate
/.Avulsion - Answer-✅Sudden change of course of a stream
/.Joint Tenancy - Answer-✅two or more people own property ; nonmarried persons with
right of survivorship
/.ALTA - Answer-✅American Land Title Association
/.Usury - Answer-✅Charging more than (unusually high) the legal limit on interest.
/.Appraisal - Answer-✅A defensible estimate of value by an expert under given market
conditions.
/.Life Estate - Answer-✅Granting of a lifetime interest in the property without the right to
transfer title.
Complete ownership until someone's death
/.Ingress And Egress - Answer-✅The means to gain entrance into or to an exit from a
property
/.Housing and Urban Development (HUD) - Answer-✅A government agency which
oversees National Housing Programs and enforce the Federal Fair Housing Act
/.Real Estate Settlement Procedures Act (RESPA) - Answer-✅To ensure that the buyer
and seller in a residential real estate transaction have knowledge of all settlement costs
; prohibits kickbacks
/.Metes and Bounds - Answer-✅Description makes use of the boundaries and
measurements of the land in question
/.Benchmark - Answer-✅Aid surveyors, permanent reference points
, /.Master Deed - Answer-✅Summary of all Deeds in a condominium project, as well as
describing the interest in common elements.
/.Datum - Answer-✅a point, line, or surface from which elevations are measured or
indicated
/.Bequest - Answer-✅Gift of personal property by Will.
/.General Partnership - Answer-✅A business relationship where all the partners
participate in some extent in the operation and management of the business and may
be held personally liability for business losses and obligations
/.Constructive Eviction - Answer-✅"Self eviction" by the tenant because the property
cannot be used for the purpose for which it was rented.
/.Pur Autre Vie - Answer-✅For The Life Of Another ; A life estate measured by the life
of someone other than the tenant
/.Bilateral Contracts - Answer-✅Both parties promise to do something ; one promise is
given in exchange for another
- real estate contracts
/.Bundle of Rights - Answer-✅Buying the rights previously held by the seller
1) the right of possession
2) the right to use the property in any legal manner
3) the right of enjoyment
4) the right of exclusion
5) the right of disposition
/.Judgement - Answer-✅A court decision regarding the respective claims of the parties
to an action
After recorded, this usually becomes a general lien on the property of the defendant
/.Spot Zoning - Answer-✅A use Variance for a specific property.
/.Set Back - Answer-✅The distance set by zoning ordinances from adjoining property
lines limiting the placement of a building / space between houses
/.General Lien - Answer-✅A lien against all the property / assets someone owns
(Judgements, federal / state taxes, debts of dead person, IRS taxes)
