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

Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. Which of the following items would be prorated at closing with the credit going to the seller?

A) unearned rent collected in advance
B) earnest money
C) prepaid property taxes
D) accrued interest on an assumed mortgage

2. A licensee lists a property with the knowledge that a major highway is projected to be built within fifty feet of the property and is instructed by the owner not to disclose this fact to prospective purchasers. The licensee should:

A) advise the seller that unless disclosure is permitted the licensee must refuse the listing
B) service the listing and disclose the information to prospective purchasers without the owner's knowledge
C) comply with the owner's instructions to avoid a violation of his fiduciary obligations to the owner
D) service the listing and disclose this information only when asked by a prospective purchaser

3. Which of the following best describes the Housing for Older Persons Act?

A) It allows the awarding of monetary damages against those who believed that property designated as housing for older persons was exempt.
B) It requires that 55-and-older housing have significant facilities and services designed for seniors.
C) It requires that at least 80% of occupied units have one person age 55 or older living there.
D) It allows grandparents with grandchildren to be exempt from the provisions of the Act.

4. A seller has listed a home with a broker for $112,000. The seller is leaving for a 45-day cruise midway through the listing period and authorizes the broker through a limited power of attorney to accept any offer of all cash at a price of $108,000 or more pending his return. The broker receives an offer for $110,000 all cash.
The broker

A) may sign a deed of conveyance if the seller does not return on time.
B) must forward the offer to the seller's attorney for consideration.
C) may accept the offer.
D) may not accept the offer until the seller returns.

5. The Freshwater Wetlands Protection Act of 1987 is a New Jersey law that:

A) requires the registration of residential development projects with the New Jersey Department of Community Affairs
B) requires environmental impact statements to be filed with the New Jersey Department of Environmental Protection before title to developed real estate can be transferred
C) empowers the New Jersey Department of Environmental Protection to acquire title to certain real estate for less than its fair market value through condemnation
D) restricts development of real estate in certain designated areas

Solutions: