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

Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A low loan-to-value ratio indicates a:

A) higher equity in the property.
B) lower equity in the property.
C) greater use of leverage.
D) greater risk of foreclosure.

2. Prospective buyers for a house want to operate a recycling center in their backyard. Local zoning laws do not allow this. What do they need to do first?

A) Obtain a variance or special exception.
B) Obtain a building permit.
C) File an appeal with the local court.
D) Obtain a modification to the local master plan.

3. 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) subagent of 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) referring broker with the listing broker

4. Two parcels of land priced at $2,100 per acre were purchased. One parcel was 5 acres in size, and the other was 1 square mile in size. How much should these two parcels have cost together?

A) $766,000
B) $1,354,500
C) $914,760
D) $1,060,500

5. A listing agent presents a signed offer to a seller who then changes the amount of the down payment. Before presenting the counteroffer to the buyer, the New Jersey Real Estate License Law requires the listing agent to

A) secure the seller's initials confirming the revision.
B) prepare a separate addendum that reflects the revision.
C) verbally inform any buyer's agent of the proposed revision.
D) obtain the consent of the listing broker.

Solutions: