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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A ranch house with a double garage is being valued. The house next door, which is similar except that it lacks a garage and has an outside deck, was sold last month for $138,000. Experience in that area shows that a two- car garage is probably worth $10,000 to buyers, while in general, they will pay only $500 extra for a deck.
The ranch house is most likely to sell for around:

A) $147,500
B) $148,500
C) $128,500
D) $123,500

2. A private integrated club refused to rent one of its condos to a minority family. The club explained that it did not rent the condos to the public since the condos were for members only. Is the club in violation of the federal Fair Housing Act, and if so, how?

A) Yes, because the club had minority members, and therefore was not eligible for exemptions from the federal Fair Housing Act.
B) No, because as an integrated club, they could discriminate on the basis of race in renting facilities.
C) Yes, because when race is involved, no exceptions to the federal Fair Housing Act exist.
D) No, because a private club may restrict the rental of its own lodgings to its members as long as the lodgings are not operated commercially.

3. Under the New Jersey Real Estate Licensing Law, which of the following is an unlicensed assistant or secretary NOT permitted to do?

A) Type contracts for approval
B) Follow up on loan applications with lenders
C) Place signs on properties
D) Make telephone calls to request rent payments

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) the licensee discloses the interest in the company to the client
C) the client does not ask for other recommendations
D) it is in the best interest of the client

5. A buyer is looking in several different cities for land to purchase for a shopping center. The buyer has decided to hire several real estate licensees, each representing the buyer in that licensee's city. Which type of agreement would protect the buyer from owing multiple commissions?

A) exclusive right to sell
B) exclusive agency representation
C) nonexclusive right-to-lease
D) nonexclusive buyer-agency

Solutions: