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

Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A licensee listed a house for $187,500, and a dual agency does not exist. A buyer is willing to offer $184,000.
The licensee explains that the seller will take no less than $186,500. The buyer agrees to offer $186,500. Did the licensee act properly?

A) Yes, to ensure acceptance of an offer, the licensee needed to disclose the lowest price the seller would accept.
B) No, the licensee should have accepted the first offer and persuaded the seller to accept it.
C) No, the licensee should not have disclosed that the seller would accept less than the listing price.
D) Yes, because the licensee persuaded the buyer to raise the price $2,500.

2. Which of the following is a radioactive odorless gas which may require mitigation?

A) radon
B) carbon monoxide
C) asbestos
D) formaldehyde

3. The main purpose of a deed is to

A) provide documentation of legal possession.
B) record and acknowledge title transfer.
C) guarantee clear title.
D) convey title.

4. 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) Because it is voluntary, it will not be an adverse item on the buyer's credit.
D) The lender will usually retain rights under mortgage insurance or VA guarantee.

5. A CORRECT statement about transaction brokers is that they:

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

Solutions: