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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. An appraisal made by a certified appraiser is required:

A) when the buyer is using an FHA loan to purchase.
B) before any property settlement in a divorce.
C) when heirs receive property.
D) before real property can transfer from one owner to another.

2. Which of the following statements about branch offices is INCORRECT?

A) The employing broker is ultimately responsible for all licensees employed at the branch office.
B) A licensed broker-salesperson must supervise the office on a full-time basis.
C) The name of the branch office supervisor must be recorded with the commission.
D) Two salespersons may be designated to share supervising responsibilities.

3. As required by the New Jersey Real Estate Sales Full Disclosure Act, before signing any contract for the purchase or lease of a property registered with the New Jersey Real Estate Commission, the purchaser or lessee MUST be provided with a copy of the:

A) New Jersey Public Offering Statement approved by the Commission
B) deed or other instrument establishing title in the name of the developer
C) Statement of Record filed by the developer with the Commission
D) filed plat map identifying the location of the property being bought or leased

4. A licensee lists a property with the knowledge that a major highway is projected to be built within fifty feet of the property and is instructed by the owner not to disclose this fact to prospective purchasers. The licensee should:

A) service the listing and disclose the information to prospective purchasers without the owner's knowledge
B) service the listing and disclose this information only when asked by a prospective purchaser
C) comply with the owner's instructions to avoid a violation of his fiduciary obligations to the owner
D) advise the seller that unless disclosure is permitted the licensee must refuse the listing

5. Which of the following statements would most likely be considered mere "puffing"?

A) The utility costs in this home are lower than in any other home in the neighborhood.
B) This lot has the most beautiful view of the lake.
C) Children from this neighborhood have the highest SAT scores.
D) This area is expected to increase in value by 25% within the next year.

Solutions: