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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. To avoid triggering full disclosure under TILA when advertising financing availability on a listed property, which of the following statements must a real estate licensee avoid using?

A) buy for less than $650 per month
B) FHA and VA financing available
C) assumable loan
D) owner willing to finance

2. The feature that most distinguishes a joint tenancy from a tenancy in common is

A) right of transfer.
B) unity of possession.
C) right of survivorship
D) undivided interests.

3. According to the New Jersey Law Against Discrimination, which of the following descriptions may be used in advertising properties in a townhome development?

A) Close to synagogues and churches
B) Senior housing
C) Ethnic neighborhood
D) Singles only

4. An appraisal made by a certified appraiser is required:

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

5. If an owner wants to list a property for sale "as is," the listing agent should:

A) assume that the owner will accept a relatively low price for the property.
B) question the seller as to any known defects.
C) conclude that if the buyer later discovers defects that were not disclosed the listing agent is relieved of any responsibility.
D) assume that the house is a "fixer-upper."

Solutions: