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Real Estate New Jersey Real Estate Salesperson Sample Questions:

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

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

3. 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.

4. The feature that most distinguishes a joint tenancy from a tenancy in common is

A) unity of possession.
B) right of survivorship
C) right of transfer.
D) undivided interests.

5. A licensee listed a house for $187,500, and a dual agency does not exist. A buyer is willing to offer $184,000.
The licensee explains that the seller will take no less than $186,500. The buyer agrees to offer $186,500. Did the licensee act properly?

A) No, the licensee should have accepted the first offer and persuaded the seller to accept it.
B) Yes, because the licensee persuaded the buyer to raise the price $2,500.
C) Yes, to ensure acceptance of an offer, the licensee needed to disclose the lowest price the seller would accept.
D) No, the licensee should not have disclosed that the seller would accept less than the listing price.

Solutions: