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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

The local gas company has a 10-foot easement along the rear of a residential lot. This is best known as an easement:

A. by prescription
B. appurtenant
C. in gross
D. by necessity

Question 2

A salesperson working with buyers secures an offer on a property. The offer calls for an initial deposit of
$1,000 to be held in escrow. The salesperson instructs the buyer to issue a personal check in that amount payable to the salesperson. This action is

A. permissible if the salesperson immediately writes a check for the deposit amount payable to their broker's escrow account.
B. prohibited, because the salesperson accepted a personal check.
C. prohibited, because checks for deposits to be held in escrow may only be payable to the broker's escrow account.
D. permissible, because the salesperson is acting as agent for the broker.

Question 3

Under the New Jersey Real Estate Sales Full Disclosure Act, the Act does NOT apply to a development project:

A. already approved by the Department of Commerce.
B. consisting of 10 units.
C. where the purchaser's total financial obligation is less than $5,000.
D. extending over a 5 year period only.

Question 4

A buyer-broker locates a property that is listed with another broker. The buyer makes an offer through the buyer-broker and an agreement of sale results. In this situation, the buyer-broker is acting as a:

A. referring broker with the listing broker
B. representative of the buyer and owes no fiduciary obligations to the seller
C. representative of the seller and owes no fiduciary obligations to the buyer
D. subagent of the listing broker

Question 5

A buyer wants to purchase a home for $400,000 with a 15% down payment. The lender charges 1.5 points.
How much money does the buyer need up front to make the purchase?

A. $60,900
B. $60,000
C. $65,100
D. $66,000

Solutions: