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

Real Estate New Jersey Real Estate Salesperson Sample Questions:

Question 1

In a jurisdiction where the common law of agency applies, a broker has listed a home and then presented to the seller an offer from another client of the broker. The offer has been accepted. The broker has what type of agency relationship with the parties?

A. seller agency, buyer sub-agency
B. no agency relationship; in this situation the broker becomes a facilitator only
C. seller agency, no agency relationship with buyer
D. dual agency

Question 2

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. $66,000
B. $60,000
C. $60,900
D. $65,100

Question 3

Which of the following is least likely to be considered in establishing the value of a property by the sales comparison approach?

A. the square footage of the building
B. the size of the lot
C. the date of sale
D. the capitalization rate

Question 4

A city has built a new library and has contacted the broker to list and sell the old library building. Which approach should the broker use to estimate the fair market value for the purpose of listing and selling this property?

A. income approach
B. gross rent multiplier
C. sales comparison
D. replacement cost

Question 5

When buyers move into their new house, they see that the ceiling fan in the dining room is gone. The ceiling fan was not mentioned in the offer to purchase. Did the sellers have the right to take the ceiling fan?

A. No, because it was a fixture in the house.
B. No, because it was chattel.
C. Yes, because it was the sellers' personal property.
D. Yes, because it was not referenced in the contract.

Solutions: