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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A real estate broker's maintained place of business MUST conspicuously display on the exterior the broker's name and the word(s):

A) Realtor
B) Licensed Realtor
C) Licensed Real Estate Broker
D) Real Estate Broker

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

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

3. A subordination agreement is used to:

A) initiate foreclosure proceedings.
B) assign rents to the lender in case of borrower default.
C) pledge property for a loan without giving up possession.
D) change the priority of mortgages.

4. A seller refuses to honor a sales agreement. The buyer could seek specific performance, which is a legal request to:

A) collect punitive damages from the seller.
B) cancel all contractual obligations.
C) force the seller to complete the sales agreement.
D) receive monetary damages for losses suffered.

5. Which of the following is a radioactive odorless gas which may require mitigation?

A) carbon monoxide
B) formaldehyde
C) asbestos
D) radon

Solutions: