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Real Estate New-Jersey-Real-Estate-Salesperson Exam Syllabus Topics:

Real Estate New Jersey Real Estate Salesperson Sample Questions:

Question 1

A ranch house with a double garage is being valued. The house next door, which is similar except that it lacks a garage and has an outside deck, was sold last month for $138,000. Experience in that area shows that a two- car garage is probably worth $10,000 to buyers, while in general, they will pay only $500 extra for a deck.
The ranch house is most likely to sell for around:

A. $128,500
B. $123,500
C. $148,500
D. $147,500

Question 2

A couple secured a home mortgage loan from a lender who appraised the property at $92,500. If the loan-to- value ratio on the property was 85%, what was the minimum amount the couple needed for the down payment?

A. $6,166
B. $7,862
C. $10,882
D. $13,875

Question 3

A CORRECT statement about transaction brokers is that they:

A. are required to disclose confidential information
B. represent both the buyer and the seller
C. may conduct transactions without an active real estate license
D. represent neither the buyer nor the seller

Question 4

A broker may legally refuse to accept a listing:

A. only if the owner's instructions are illegal.
B. only if the seller cannot give clear title to the property.
C. at any time, for any legitimate reason.
D. under no circumstances; all owners are entitled to professional representation in the sale of their property.

Question 5

A lender whose mortgagor has defaulted may be offered a deed in lieu of foreclosure. If accepted, which of the following will be true?

A. The loan will still be assumable.
B. The lender will take the title subject to any junior liens.
C. The lender will usually retain rights under mortgage insurance or VA guarantee.
D. Because it is voluntary, it will not be an adverse item on the buyer's credit.

Solutions: