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

Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. Two parcels of land priced at $2,100 per acre were purchased. One parcel was 5 acres in size, and the other was 1 square mile in size. How much should these two parcels have cost together?

A) $1,060,500
B) $914,760
C) $1,354,500
D) $766,000

2. A subordination agreement is used to:

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

3. In advertisements of individual salespersons, which of the following is permitted?

A) Having the broker's name appear in smaller print than the salesperson's name in a newspaper ad.
B) Linking a personal real estate webpage to the salesperson's broker's website.
C) Including reference to a home office.
D) Placing the real estate office sign on a personal residence.

4. A married couple is planning to purchase a house that costs $86,000. If they obtain a 60% loan and the lender charges a 2.5% loan origination fee and 0.5 discount points, what is the cost of these expenses?

A) $1,548
B) $2,580
C) $1,290
D) $2,150

5. A tenant has an option to purchase leased property. The price that the tenant will pay for the property is determined by the:

A) terms specified in the option.
B) tenant, when the option is exercised.
C) agreement, when the option is exercised.
D) property's market value at the time of exercising the option.

Solutions: