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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. In surveying, monuments are used to establish:

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

2. Two real estate firms shared equally a 6% commission on the sale of a house. The listing licensee was paid
60% of the broker's share. The house was sold for $110,000. How much did the listing agent earn?

A) $1,980
B) $1,320
C) $3,980
D) $2,640

3. Which of the following statements would most likely be considered mere "puffing"?

A) Children from this neighborhood have the highest SAT scores.
B) This lot has the most beautiful view of the lake.
C) This area is expected to increase in value by 25% within the next year.
D) The utility costs in this home are lower than in any other home in the neighborhood.

4. A buyer wants to purchase a home for $400,000 with a 15% down payment. The lender charges 1.5 points.
How much money does the buyer need up front to make the purchase?

A) $60,900
B) $66,000
C) $60,000
D) $65,100

5. A licensed broker may establish a commission rate at a predetermined amount that reflects the broker's general office policy provided the broker:

A) negotiates all commissions with sellers
B) advises the New Jersey Consumer Affairs Division that the broker will not negotiate this commission rate
C) advertises the commission rate at least once per month
D) has the percentage or fixed amount printed on all listing agreement forms

Solutions: