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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. Under New Jersey Real Estate Commission rules, a licensee's obligations to the public include all of the following responsibilities EXCEPT:

A) protecting and promoting the interests of the licensee's principal when acting as an agent
B) disclosing material defects in a property to a prospective purchaser
C) dealing honestly with all parties
D) accepting any reasonable commission offered by a seller in the course of negotiating a listing agreement

2. In surveying, monuments are used to establish:

A) a common address
B) real estate boundaries
C) historical sites
D) flood elevation

3. A married couple is purchasing a home. They ask the salesperson to advise them regarding the best way to take title. The salesperson should

A) advise them to take title as tenants by the entirety.
B) decline to advise them and suggest that they consult an attorney.
C) ask a broker to make a recommendation.
D) explain the possible types of joint ownership so they understand the options.

4. A lender may add 1/12th of the estimated cost of the annual property taxes and hazard insurance on the mortgaged property to the monthly loan payment for deposit in:

A) a PMI account
B) an adjustment account
C) an impound, escrow, or reserve account
D) a margin account

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

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

Solutions: