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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

Rents on a duplex total $600 monthly and are due the first of each month. If the sale of the duplex closes on the 15th of a month, the rental income will be reflected on the closing statement as a

A. debit to the seller of $300 and a credit to the buyer of $300.
B. credit of $600 to the buyer only.
C. credit of $600 to the seller only.
D. credit to the seller of $300 and a debit to the buyer of $300.

Question 2

A buyer's agent is NOT permitted to tell a buyer that:

A. the seller is willing to accept less than the listing price because of financial circumstances
B. a former occupant of a property had AIDS
C. the roof leaked recently but was patched by the owner
D. the property was the scene of a serious crime

Question 3

A licensee must provide disclosure of licensed status when acting as a principal if

A. any relative of the licensee has ever lived in the residence.
B. the licensee has any economic interest in the property.
C. the agent of the other party asks about this specifically.
D. the licensee does not have errors and omission insurance.

Question 4

A buyer who is purchasing a property intends to build a chain link fence in the backyard. There is a 12-year- old deed restriction that prohibits chain link fences. The licensee finds out that there are no city codes prohibiting chain link fences. Which of the following statements regarding this situation is true?

A. City code always takes priority over deed restrictions.
B. Deed restrictions always take priority over city codes.
C. This deed restriction is more restrictive and will, therefore, take precedence.
D. This city code takes priority because deed restrictions expire 10 years after a subdivision is developed.

Question 5

A buyer made an offer to purchase a home using a VA loan, but the property's appraised value was determined to be less than the contract price. If the buyer really wants the property, which of the following choices is the buyer's best option?

A. Do nothing, because the seller must sell the property at the appraised value.
B. Make up the difference between the contract price and appraised value in cash.
C. Seek an FHA lender who will automatically make up the difference between the contract price and the appraised value.
D. Hire an appraiser and see if a second appraisal yields a higher appraised value.

Solutions: