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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. Evergreen bushes and apple trees on a property that were planted by the current owner are examples of:

A) chattels
B) real estate
C) trade fixtures
D) personal property

2. New Jersey Real Estate Commission regulations require a licensee to terminate membership in a real estate board or multiple listing service whenever the organization:

A) lobbies against legislation that the licensee personally favors
B) charges dues that the licensee feels are excessive
C) advocates rules, practices, and/or standards with which the licensee does not agree
D) suggests uniform commission rates among all member brokers

3. Prospective buyers for a house want to operate a recycling center in their backyard. Local zoning laws do not allow this. What do they need to do first?

A) File an appeal with the local court.
B) Obtain a variance or special exception.
C) Obtain a building permit.
D) Obtain a modification to the local master plan.

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

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

5. A seller sold a property for $375,000, with the closing on July 1st, in a jurisdiction where the buyer pays for the day of closing. The seller had a mortgage balance at the time of closing of $301,000, and had recently paid invoices of $400 for the second quarter's water and electricity, $1,200 for new appliances, and roofing repairs of $700. Based only on these items, how much will the seller receive at closing?

A) $73,600
B) $74,000
C) $72,400
D) $71,700

Solutions: