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NJ Real Estate Exam Questions with Complete Answers Graded A+
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NJ Real EstateExam Questions
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Solutions Graded
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Denning [Date] [Course title]
,According to New Jersey License Law, A licensee who wants to sell property that the licensee owns
MUST?
a) list the same property eith another licensee in the same office
b) disclose the ownership interest in any advertisement of the property
c) disclose the ownership interest in any notice submitted on the listing to the MLS
d) disclose in the contract of sale that the seller holds a New Jersey Real Estate license - Answer: d.
disclose in the contract of sale that the seller holds a New Jersey Real Estate license
With respect to the Mount Laurel requirements, Which of the following statements is correct?
a) It is unlawful for a landlord to refuse to rent to a couple because they have children under the age of
14
b) under certain circumstances, a tenant has the right to have a repair made and deduct the cost from
the repair from the rent
c) lower and moderate since people may not be excluded from New Jersey municipalities by zoning
ordinances
d) minority prospects may not be directed to minority populated communities without being offered
opportunities in other areas in that price range - Answer: c. lower and moderate since people may not
be excluded from New Jersey municipalities by zoning ordinances
In New Jersey, the realty transfer fee appears on the closing statement as:
a. debit to the seller
b. debit to the buyer
c. credit to the seller
d. credit to the buyer - Answer: a. debit to the seller
A residential developer desires to limit all construction in a subdivision to single family houses of at least
3,000 square feet. Which of the following is the BEST way for the developer to ensure this will take place
a. have an architectural review committee approve building plans
b. establish a homeowners association
c. Petition for a zoning change
,d. create deed restrictions - Answer: c. petition for a zoning change
Which of the following will NOT be considered relevant if HUD investigates a prospective home buyer's
allegation of discriminatory treatment by a licensee in a brokerage office?
a. Records of the houses shown and properties suggested to the prospective buyer
b. Whether or not the HUD Equal Housing Opportunity post is displayed in the office
c. Whether the licensee believed she was acting in the best interests of the prospective buyer
d. The reports of undercover testers who visited the office - Answer: a. Records of the houses shown
and properties suggested to the prospective buyer
A licensee is emailing information regarding an open house for one of her listings. In addition to
complying with state-specific requirements for advertising, which of the following must be included in
the email?
A. opt-out provision
B. how the recipient's name was obtained
C. complete property address
D. listing sale price - Answer: a. opt-out provision
A complaint must be filed with HUB within what period of time after fair housing violation has occurred
a. 1 month
b. 1 year
c. 10 years
d. indefinitely - Answer: b. 1 year
Which of the following best defines a material fact in real estate context?
a. a property deficiency that must be recorded at the time of sale
b. a representation made on a licensee's marking sheet that has been verified by the licensee
c. a fact significant enough to influence an individuals decision about whether or not to purchase
, d. a latent deficiency of a property that may be disclosed to a prospective buyer only if an offer is made -
Answer: c. a fact significant enough to influence an individuals decision about whether or not to
purchase
A lender whose mortgagor has defaulted may be offered a deed in lieu of foreciosure, he accepts, which
of the following will be TRUE?
A. Because it is voluntary it will not be an adverse item on the buyer's credit
B. The lender will take the title subject to any junior liens
C. The lender will usually retain his rights under mortgage insurance or VA guarantee.
D The loan will still be assumable - Answer: c. The lender will usually retain his rights under mortgage
insurance or VA guarantee.
According to New Jersey Real Estate Licensing Law, what is the maintenance requirement for all records
of real estate transactions?
a. 10 days
b. 1 year
c. 6 months
d. 6 years - Answer: d. 6 years
Standard title insurance would protect a buyer
a. when the seller has forged his ex wife's signature on the deed
b. After the HOA has placed a lien on the property for the previous owners unpaid dues
c. in a purchase where the buyer had knowledge of a shed violating setback requirements
d. For the purchase of a property bought sight unseen where the buyer discovers a tenant living at the
property - Answer: a. when the seller has forged his ex wife's signature on the deed
a low loan to value ratio indicates a
a. high equity
b. low equity - Answer: a. high equity
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