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Real Estate New-Jersey-Real-Estate-Salesperson Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Property Ownership | |
| Land Use Controls and Regulations | |
| Real Estate Practice and Disclosures | |
| Contracts | |
| New Jersey Real Estate Law and Regulations | |
| Agency Relationships and Brokerage | |
| Valuation and Market Analysis | |
| Ethics and Professional Responsibility | |
| Financing and Settlement |
Real Estate New Jersey Real Estate Salesperson Sample Questions:
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
Correct Answer: D 🗳️
Explanation: Only visible for RealVCE members. You can sign-up / login (it's free).
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
Correct Answer: B 🗳️
Explanation: Only visible for RealVCE members. You can sign-up / login (it's free).
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
Correct Answer: D 🗳️
Explanation: Only visible for RealVCE members. You can sign-up / login (it's free).
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.
Correct Answer: C 🗳️
Explanation: Only visible for RealVCE members. You can sign-up / login (it's free).
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.
Correct Answer: B 🗳️
Explanation: Only visible for RealVCE members. You can sign-up / login (it's free).
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