Short, focused sessions using the right material will always outperform marathon cramming the night before. Follow this rhythm.
01
Before Class
Skim chapter headings and bold terms (15–20 min). Don't memorize — just familiarize yourself with the landscape before diving in.
02
During Class
Follow along with your binder, take notes directly on the pages, and ask questions when concepts are unclear. Active engagement matters.
03
After Class
Same day if possible — re-read chapter notes, review highlighted sections, complete any quiz while the material is still fresh in your mind.
04
Weekly Review
Spend 30–45 minutes reviewing prior chapters. Focus on definitions, formulas, and exam tips. Small reviews compound into big results.
05
Study Definitions Right
Read the definition → rewrite in your own words → associate with a real-world example → compare similar terms side by side.
06
Exam Mindset
Read questions slowly. Identify what is truly being asked. Eliminate clearly wrong answers first. The exam wants the best answer, not just a correct one.
Course Content
All 22 Chapters
Click any chapter to expand key concepts, exam tips, and common traps.
0 / 22 chapters reviewed
Memory Anchors
Key Mnemonics to Know Cold
These acronyms show up repeatedly on the exam. Memorize them — they unlock entire question categories.
OLD CAR
Fiduciary Duties
Obedience — follow lawful instructions
Loyalty — client's interests first
Disclosure — reveal material facts
Confidentiality — protect client info
Accounting — safeguard funds
Reasonable Care — skill & diligence
C-O-C-L
Valid Contract Elements
Competent parties
Offer and acceptance
Consideration
Lawful objective
P-E-T-E
Government Powers
Police Power — zoning, codes
Eminent Domain — public taking
Taxation — property taxes
Escheat — no heir reverts to state
MARIA
Fixture Test
Method of attachment
Adaptability
Relationship of the parties
Intention of the parties ★
Agreement
Real Estate Math
Essential Formulas Quick Sheet
You don't need to be a mathematician. Know the formula, read carefully, and don't rush.
PITI = Principal + Interest + Taxes + Insurance. HOA fees NOT included.
Side by Side
Concept Comparison Tables
The most commonly confused concepts on the NJ exam — compared side by side so the differences are crystal clear.
Deed Types
Deed
Covenants
Key Use
General Warranty
Covers entire history — grantor defends against all claims
Standard residential sale
Special Warranty
Only covers grantor's ownership period
Bank/foreclosure sales
Quitclaim
No covenants — transfers only what grantor owns
Divorce, family transfers
Bargain & Sale
Implies ownership but no promise against encumbrances
Tax sales, sheriff's deeds
NJ Note: The General Warranty Deed offers the most protection to the buyer. Quitclaim deeds are common for intra-family transfers and clearing title clouds.
Listing Types
Type
Broker Earns If…
NJ Common?
Exclusive Right to Sell
ANY buyer purchases — even if seller finds buyer
Most common
Exclusive Agency
Broker-introduced buyer purchases only
Less common
Open Listing
Only if that specific broker brings the buyer
FSBO situations
Net Listing
Amount above seller's net price
Illegal in NJ
NJ Note: Net listings are illegal in New Jersey. The Exclusive Right to Sell protects the broker most; the Open Listing protects the seller most.
Loan Types
Loan
Down Payment
Who Qualifies
FHA
3.5% (with 580+ credit)
First-time buyers, lower credit
VA
0% — no down payment required
Veterans, active military, eligible spouses
Conventional
Typically 5–20%
Good credit, standard borrowers
USDA
0% — rural properties only
Rural areas, income limits apply
NJ Note: FHA loans require MIP (mortgage insurance premium). VA loans have a funding fee but no monthly PMI. Conventional loans require PMI if LTV > 80%.
Ownership Types
Type
Right of Survivorship
Key Feature
Joint Tenancy
Yes — automatic
Four unities required (TTPPT)
Tenancy in Common
No — heirs inherit
Unequal shares allowed; default in NJ
Tenancy by Entirety
Yes — married couples only
Cannot be severed without both spouses
Condominium
N/A
Own unit + share of common areas
Cooperative (Co-op)
N/A
Own shares in corp; proprietary lease
NJ Note: In NJ, two or more people who purchase property WITHOUT specifying the type are presumed to be Tenants in Common.
Agency Types
Agency
Who They Represent
Duties
Seller's Agent
Seller only
Full fiduciary to seller; must disclose material defects to buyer
Buyer's Agent
Buyer only
Full fiduciary to buyer
Dual Agent
Both parties
Requires informed written consent; limited duties to each
Transaction Broker
Neither — facilitates only
No fiduciary; basic facilitation duties
NJ Note: NJ allows dual agency only with the informed, written consent of both parties. Failing to disclose dual agency is a license law violation.
Lease / Tenancy Types
Tenancy
Duration
Ends By
Estate for Years
Fixed start & end date
Automatically — no notice needed
Periodic Tenancy
Auto-renews each period
Notice equal to one period (month-to-month)
Tenancy at Will
Indefinite — either party can end it
Reasonable notice by either party
Tenancy at Sufferance
Holdover — tenant stays past lease
Landlord can evict or accept new rent
NJ Note: NJ has strong tenant protections under the Anti-Eviction Act. Even a Tenancy at Sufferance requires court-ordered eviction — a landlord cannot self-help evict.
Exam Day
Final Exam Strategy
The exam tests rules and concepts, not tricks. If it feels "reasonable" but not legal — it's probably wrong.
✓ How to Approach Questions
Read every question completely before answering
Look for key words: EXCEPT, NOT, MOST LIKELY
Eliminate clearly wrong answers first
Trust your first instinct if you studied
Don't second-guess unnecessarily
Mark difficult questions and return later
✗ Common Exam Traps
Federal vs. NJ law (NJ controls when stricter)
Broker vs. salesperson responsibility
CMA vs. appraisal — they are NOT the same
Assumption vs. subject-to (who is liable?)
Tax liens vs. mortgage lien priority
Referral agents — they can do very little
Guaranty Fund protects public, not licensees
Co-op = shares, no deed; Condo = deed
📋 Before the Exam Checklist
Review the math quick sheet
Memorize federal protected classes (7)
Know agency & fiduciary duties (OLD CAR)
Understand all ownership types
Review FHA vs. VA vs. Conventional
Know lien priority order
Review PITI components
Get good sleep the night before
⚡ Quick Key Rules
License required when acting for others for compensation
Salespersons may ONLY be paid by their broker
Commission rates are always negotiable — price fixing is illegal
Trust funds must NEVER be commingled
Dual agency must always be disclosed in writing
NJ uses judicial foreclosure
Highest & best use must be legally permissible
Street address ≠ legal description
Exclusive Access
Members-Only Resources
Bonus materials available only to enrolled ABS School students.
Practice Quiz
Customizable Practice Quiz
Test yourself with NJ exam-style questions. Pick your topics, set the length, and turn on timed mode to simulate real exam pressure.
120+ questions across all 22 chapters
Filter by topic — study weak areas
Timed mode (30s – 120s per question)
Instant explanations after each answer
Instructor Notes
Michelle's Private Study Notes
Annotated chapter summaries drawn directly from instructor prep sessions — not available in the public guide.
High-frequency exam topics highlighted
NJ-specific rule differences flagged
Margin notes from past exam patterns
Updated for current exam cycle
Bonus Mnemonics
Extended Memory System
12 additional mnemonics for topics that frequently trip students up in the final stretch — liens, deeds, title, leases, and more.
METAL — Lien priority order
DWELL — Deed requirements
CLUE — Illegal landlord actions
DUST — Four elements of value
Flashcard Deck
Study Flashcards
Flip through term-definition cards for all 22 chapters. Mark what you know and retry the rest.
130+ cards across all chapters
Filter by chapter for targeted review
Card flip animation — term → definition
Track Know It / Not Yet with retry mode
Wrong Answer Notebook
My Mistake Notebook
Every question you answer incorrectly is saved here. Review your misses, understand why, and drill them again until you get them right.
Grouped by topic for targeted review
Shows correct answer & explanation
Drill mode: quiz yourself on your mistakes only
Tracks how many times you got each question wrong
Full Simulation
NJ Exam Simulator
Experience the real exam before exam day. 110 questions, 4-hour countdown, no instant feedback — exactly like the state test.
110 questions drawn proportionally from all topics
4-hour countdown timer
No feedback until all questions answered
Pass/fail at 70% — with per-topic breakdown
Review all answers after submission
Direct Support
Instructor Support
Have a question before your exam? Reach out to ABS School of Real Estate directly for guidance and support.