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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. To avoid triggering full disclosure under TILA when advertising financing availability on a listed property, which of the following statements must a real estate licensee avoid using?

A) FHA and VA financing available
B) owner willing to finance
C) buy for less than $650 per month
D) assumable loan

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

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

3. A licensee must provide disclosure of licensed status when acting as a principal if

A) any relative of the licensee has ever lived in the residence.
B) the licensee does not have errors and omission insurance.
C) the licensee has any economic interest in the property.
D) the agent of the other party asks about this specifically.

4. 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) gross
B) net
C) percentage
D) ground

5. A contract is delivered to the listing broker by a cooperating broker. The listing broker makes an appointment with the owner to present the offer at 7 p.m. of that day. Before 7 p.m., two more offers arrive on the same property. Which offer should be presented to the owner at the 7 p.m. appointment?

A) the offer most favorable to the seller, including price and all terms
B) the first offer received
C) all three of the offers
D) the offer with the highest sale price

Solutions: