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

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Real Estate New Jersey Real Estate Salesperson Sample Questions:

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

2. 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) $13,875
B) $10,882
C) $6,166
D) $7,862

3. Which of the following is a permitted free offering?

A) Free use of a local moving van for all listings
B) A complimentary home warranty with every listing
C) A free dinner for attendees at a homebuyers' evening seminar
D) A coupon for discounted commission on listing services

4. Rents on a duplex total $600 monthly and are due the first of each month. If the sale of the duplex closes on the 15th of a month, the rental income will be reflected on the closing statement as a

A) credit of $600 to the buyer only.
B) debit to the seller of $300 and a credit to the buyer of $300.
C) credit of $600 to the seller only.
D) credit to the seller of $300 and a debit to the buyer of $300.

5. According to the Real Estate Licensing Law, a real estate licensee can provide a rebate of the commission to a buyer

A) if notated on the contract of sale.
B) if a writing confirming the terms of the rebate is provided to the buyer at closing.
C) if the licensee is the broker.
D) provided it does not exceed 50% of the total commission.

Solutions: