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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. 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) $60,900
B) $60,000
C) $66,000
D) $65,100

2. A licensee must provide a Consumer Information Statement in all of the following transactions EXCEPT the:

A) lease of a three-bedroom apartment for one year
B) sale of a three-family house in a mixed-use zone
C) sublease of a studio apartment for two months
D) sale of a vacant one-family lot

3. The local gas company has a 10-foot easement along the rear of a residential lot. This is best known as an easement:

A) by necessity
B) in gross
C) by prescription
D) appurtenant

4. A licensed broker may establish a commission rate at a predetermined amount that reflects the broker's general office policy provided the broker:

A) has the percentage or fixed amount printed on all listing agreement forms
B) advertises the commission rate at least once per month
C) advises the New Jersey Consumer Affairs Division that the broker will not negotiate this commission rate
D) negotiates all commissions with sellers

5. The best way to research the previous owners of the property would be to research the:

A) grantor
B) abstract
C) chain of title
D) lien records

Solutions: