Real Estate New-Jersey-Real-Estate-Salesperson

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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A lender may add 1/12th of the estimated cost of the annual property taxes and hazard insurance on the mortgaged property to the monthly loan payment for deposit in:

A) a margin account
B) an adjustment account
C) a PMI account
D) an impound, escrow, or reserve account

2. Which of the following statements in an advertisement would be an example of non-discriminatory language under HUD's Fair Housing Advertising Guidelines?

A) located within walking distance to a great Catholic school
B) female seeking female roommate
C) apartment available. No pets or children allowed
D) nice home ideal for any family with children

3. After announcing that a new city park will soon be developed, homes in the immediate area experience a rise in value. This is an example of which of the following principles of value?

A) contribution
B) change
C) anticipation
D) highest and best use

4. Written offers to purchase real estate in New Jersey must be presented to sellers within:

A) 3 days
B) 5 days
C) 24 hours
D) 48 hours

5. The common area of a condominium development is owned by:

A) all owners as tenants in common.
B) its duly elected Board of Directors.
C) those owners who were original owners of the units.
D) any individuals who pay a prorated share of the taxes and maintenance.

Solutions: