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

Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. An appraisal made by a certified appraiser is required:

A) before any property settlement in a divorce.
B) when the buyer is using an FHA loan to purchase.
C) before real property can transfer from one owner to another.
D) when heirs receive property.

2. Prospective buyers asked the licensee representing them if it would be a good idea to check the property they wish to purchase for radon. The licensee's best response would be to tell the buyers that:

A) as long as they are non-smokers, it should not be an issue.
B) they should do so, because radon is now considered to be one of the causes of lung cancer.
C) they need not do so, because if radon were present, there would be an odor that would make it easy to detect.
D) it is unlikely that radon would be a problem in that area.

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

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

4. After announcing that a new city park will soon be developed, homes in the immediate area experience a rise in value. This is an example of which of the following principles of value?

A) highest and best use
B) change
C) anticipation
D) contribution

5. A seller has entered into an exclusive right to sell agreement with a broker. The buyer presents the seller with an offer to purchase that is 20% less than the list price. Which of the following is appropriate?

A) The seller is obligated to pay the buyer a commission or the offer price if the seller rejects the offer.
B) The seller is obligated to make a counteroffer to the buyer if the offer is unacceptable.
C) The seller has 72 hours to submit a counteroffer or else the offer is considered to be accepted.
D) The seller is under no obligation to accept the offer or make a counteroffer.

Solutions: