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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. 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

2. A national company desires a parcel of land which must be 4 times the size of its proposed building. If the building design includes 20,000 square feet, then which of the following minimum sized lots should be purchased?

A) 1 acre
B) 8 acres
C) 4 acres
D) 2 acres

3. If an owner wants to list a property for sale "as is," the listing agent should:

A) conclude that if the buyer later discovers defects that were not disclosed the listing agent is relieved of any responsibility.
B) question the seller as to any known defects.
C) assume that the house is a "fixer-upper."
D) assume that the owner will accept a relatively low price for the property.

4. A landlord may require that a disabled tenant

A) pay double the usual $500 security deposit.
B) pay an additional fee for using the swimming pool to cover the added insurance cost.
C) not install grab bars in the tile shower if drilling holes in the tile is required.
D) remove the wheelchair ramp from the apartment upon vacating the unit.

5. A buyer is looking in several different cities for land to purchase for a shopping center. The buyer has decided to hire several real estate licensees, each representing the buyer in that licensee's city. Which type of agreement would protect the buyer from owing multiple commissions?

A) nonexclusive buyer-agency
B) nonexclusive right-to-lease
C) exclusive right to sell
D) exclusive agency representation

Solutions: