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

Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. 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) contribution
B) anticipation
C) change
D) highest and best use

2. A prospective buyer calls a licensed New Jersey salesperson to inquire about a property listed with that salesperson's brokerage. During the first substantive discussion about the property's price and terms, the salesperson must

A) only provide the CIS if the buyer asks for agency representation.
B) wait until the buyer is ready to make an offer before presenting the CIS.
C) provide the CIS at closing when all agency relationships are finalized.
D) immediately provide the Consumer Information Statement (CIS).

3. The Multiple Listing Service (MLS) board members decided that the population of each area of the city would be best served by the brokerages who have offices actually located within those areas. The board established boundaries dividing the city into six districts and voted to limit listings for each district to only those brokerages with offices within the district. Brokerages who tried to advertise beyond their own district would be prohibited from listing properties in the MLS. This action violates what Real Estate Law?

A) Housing and Community Development Act of 1974
B) Civil Rights Act
C) Diversity Jurisdiction
D) Sherman Anti-trust Act

4. A salesperson is selling a leased commercial property. What will happen to the lease after the sale is consummated?

A) The lease is assigned to the new owner.
B) The new owner has the option of canceling the lease or accepting the lease.
C) The tenant and the new owner must negotiate a new lease.
D) The lease expires and the tenant must move.

5. A couple secured a home mortgage loan from a lender who appraised the property at $92,500. If the loan-to- value ratio on the property was 85%, what was the minimum amount the couple needed for the down payment?

A) $6,166
B) $7,862
C) $13,875
D) $10,882

Solutions: