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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. Standard title insurance would protect a buyer:

A) when the seller has forged an ex-partner's signature on the deed.
B) if after closing, the HOA placed a lien on the property for the previous owners' unpaid dues.
C) in a purchase where the buyer had knowledge of a shed violating setback requirements.
D) for the purchase of a property bought sight unseen where the buyer discovers a tenant living at the property.

2. Which of the following best describes the Housing for Older Persons Act?

A) It allows grandparents with grandchildren to be exempt from the provisions of the Act.
B) It requires that at least 80% of occupied units have one person age 55 or older living there.
C) It requires that 55-and-older housing have significant facilities and services designed for seniors.
D) It allows the awarding of monetary damages against those who believed that property designated as housing for older persons was exempt.

3. In surveying, monuments are used to establish:

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

4. A Seller's Property Disclosure form states that there are no known material defects with the property, but the listing licensee is aware of asbestos wrapped duct pipes in the basement. The licensee should:

A) disclose the existence of asbestos to all potential buyers.
B) ask the seller's permission to disclose and abide by the seller's wishes.
C) suggest to the seller wrap the pipes to contain potential airborne contamination.
D) suggest the buyers have a home inspection and leave discovery up to the inspector.

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

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

Solutions: