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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

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 date of sale
C. the capitalization rate
D. the size of the lot

Question 2

A tenant has a commercial lease that requires that the tenant pay taxes, insurance, maintenance, and parking lot repairs. What kind of lease does the tenant have?

A. percentage
B. ground
C. gross
D. net

Question 3

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. $3,789.50
B. $1,966.25
C. $1,894.75
D. $3,575.00

Question 4

A buyer made an offer to purchase a home using a VA loan, but the property's appraised value was determined to be less than the contract price. If the buyer really wants the property, which of the following choices is the buyer's best option?

A. Do nothing, because the seller must sell the property at the appraised value.
B. Make up the difference between the contract price and appraised value in cash.
C. Hire an appraiser and see if a second appraisal yields a higher appraised value.
D. Seek an FHA lender who will automatically make up the difference between the contract price and the appraised value.

Question 5

A purchase money note need NOT contain the:

A. time and method of payment.
B. loan-to-value ratio.
C. rate of interest.
D. principal amount of the loan.

Solutions: