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Real Estate New-Jersey-Real-Estate-Salesperson Exam Syllabus Topics:

Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A deposit check from a buyer paid upon the submission of an offer may be held without being deposited into the broker's escrow account:

A) for no more than five business days after the termination of the attorney review period
B) until negotiations are concluded and the seller has accepted the offer
C) until all inspections required by the contract have been performed
D) for no more than five business days after receipt of the money

2. If a salesperson or broker-salesperson maintains a webpage that is not linked to the webpage of their broker, the licensee's webpage must display the name of the broker as well as the

A) address of the broker's main office.
B) broker's email address.
C) address of the branch office from which the licensee operates.
D) broker's telephone number.

3. Which of the following items would be prorated at closing with the credit going to the seller?

A) earnest money
B) accrued interest on an assumed mortgage
C) prepaid property taxes
D) unearned rent collected in advance

4. A real estate licensee is a partial owner of a local inspection company. It is permissible for the licensee to tell all clients to use this company when:

A) the licensee does not know any of the other title companies in the area
B) it is in the best interest of the client
C) the client does not ask for other recommendations
D) the licensee discloses the interest in the company to the client

5. A home sold for $400,000. It was appraised for $402,000, and the assessed value was $320,000. Assume in this situation, the real estate transfer tax of 1% is paid by the grantee. How much will the seller owe at closing for transfer fees?

A) $0
B) $4,020
C) $4,000
D) $3,200

Solutions: