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Real Estate New Jersey Real Estate Salesperson Sample Questions:

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

2. Standard title insurance would protect a buyer:

A) when the seller has forged an ex-partner's signature on the deed.
B) if after closing, the HOA placed a lien on the property for the previous owners' unpaid dues.
C) in a purchase where the buyer had knowledge of a shed violating setback requirements.
D) for the purchase of a property bought sight unseen where the buyer discovers a tenant living at the property.

3. The feature that most distinguishes a joint tenancy from a tenancy in common is

A) right of transfer.
B) unity of possession.
C) right of survivorship
D) undivided interests.

4. A property was listed for $110,000. It sold for $106,000. A 6.5% fee was split equally between the listing and selling real estate firms. The listing licensee received 55% of the listing office share. How much did the listing licensee receive?

A) $1,894.75
B) $3,575.00
C) $1,966.25
D) $3,789.50

5. A licensee faxes a list of available properties to prospective buyers. Which of the following is true?

A) The licensee must include only a phone number to reply.
B) The licensee's company's name does not need to be listed.
C) The licensee must mail an identical list to all parties.
D) The fax must contain an opt-out provision for future communications.

Solutions: