NJ Real estate test Quiz Questions and Correct Answers | Exam Package

If a broker is expecting to receive 6% commission on a sale of $250,000 house, what will the commission be? a) $750 b) $1,500 c) $7,500 d) $15,000 - d A lot measuring 240' by 400' is selling for $400 a front foot. What is the price? a) $1,600 b) $16,000 c) $72,000 d) $96,000 - ...

Broker - One who buys and sells for another for a fee. Broker-Salesperson - A qualified broker who practices real estate in the position of salesperson in another broker's office bureau of subsidized land sales control - regulations covering out of state properties sold in NJ cont...

The type of deed that warrants only that the grantor has not impaired the title during the term in which he held it is referred to as. 1. Quitclaim Deed 2. General Warranty Deed 3. Bargain and Sale Deed 4. Bargain and Sale Deed, CAG - Bargain and Sale Deed, CAG Taxes raised to pay for...

1. A real estate licensee has a buyer agency agreement. What is the seller in this situation? A. a customer B. a client C. a fiduciary D. an agent - A. There's an important distinction between client and customer. Unless there is a specific agreement to the contrary, licensees represe...

Which of the following is a permitted free offering? o- A. A complimentary home warranty with every listing B. A coupon for a discounted commission on listing services C. A free dinner for attendees at a homebuyers' evening seminar D. Free use of a local moving van for all listings - C. A Fr...

The type of deed that warrants only that the grantor has not impaired the title during the term in which he held it is referred to as. 1. Quitclaim Deed 2. General Warranty Deed 3. Bargain and Sale Deed 4. Bargain and Sale Deed, CAG - Bargain and Sale Deed, CAG Taxes raised to pay for...

Water Rights - The terms "littoral," "riparian," and "appropriative" refer to A salesperson lists a property with a contract that allows for subagency and dual agency. The salesperson is - an agent to the broker and a subagent to the principal. Depreciation is calculated based on t...

According to fair housing, which of these is not a protected class? A. muslim B. arab C. homosexual D. single mother - C. homosexual The front door key to a house is: A. chattel B. fixture C. improvement D. trade fixture - B. fixture The phrase "bundle of legal rights" is p...

Who appoints the 8 members of the New Jersey Real Estate Commission? - Governor Who makes the payments to a claimant from the Guaranty Fund? - The state treasurer Agent Louis Lee is working with several people from his home town in Hong Kong. They sought him out because he speaks their n...