Real Estate New Jersey Real Estate Salesperson : New-Jersey-Real-Estate-Salesperson

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

Real Estate New Jersey Real Estate Salesperson Sample Questions:

Question #1
A CORRECT statement about transaction brokers is that they:

A. may conduct transactions without an active real estate license
B. represent both the buyer and the seller
C. are required to disclose confidential information
D. represent neither the buyer nor the seller

Question #2
Who may give a supportable opinion of market value to be used in seeking a federally-related loan to finance a real estate transaction?

A. a certified appraiser
B. a licensed real estate broker
C. a Certified Public Accountant
D. any real estate licensee, in each state in which the licensee is licensed

Question #3
Which of the following statements about branch offices is INCORRECT?

A. The name of the branch office supervisor must be recorded with the commission.
B. Two salespersons may be designated to share supervising responsibilities.
C. A licensed broker-salesperson must supervise the office on a full-time basis.
D. The employing broker is ultimately responsible for all licensees employed at the branch office.

Question #4
A couple who sell their principal residence may take up to $500,000 in federal capital gains tax-free only if:

A. at least one of them has reached the age of 65.
B. neither has ever used the Homesellers Exclusion in the past.
C. they buy a replacement home of equal or greater value than the one being sold within a year.
D. they have owned and occupied the house for at least 2 of the previous 5 years.

Question #5
An appraisal made by a certified appraiser is required:

A. when the buyer is using an FHA loan to purchase.
B. before real property can transfer from one owner to another.
C. when heirs receive property.
D. before any property settlement in a divorce.

Solutions: