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Real Estate New Jersey Real Estate Salesperson Sample Questions:
1. A seller has listed a home with a broker for $112,000. The seller is leaving for a 45-day cruise midway through the listing period and authorizes the broker through a limited power of attorney to accept any offer of all cash at a price of $108,000 or more pending his return. The broker receives an offer for $110,000 all cash.
The broker
A) may sign a deed of conveyance if the seller does not return on time.
B) may not accept the offer until the seller returns.
C) may accept the offer.
D) must forward the offer to the seller's attorney for consideration.
2. A seller is offering his property for sale in as-is condition. A buyer enters into a contract with the seller and has the home inspected. The inspection reveals a latent defect known to, but not disclosed by, the seller. The buyer:
A) can force the seller to correct the defect.
B) can void the contract due to the seller's failure to disclose the latent defect.
C) must go through with the purchase because the house is being sold as is.
D) can reduce the contract sales price by the cost of correcting the defect.
3. In surveying, monuments are used to establish:
A) a common address
B) real estate boundaries
C) flood elevation
D) historical sites
4. Evergreen bushes and apple trees on a property that were planted by the current owner are examples of:
A) real estate
B) personal property
C) trade fixtures
D) chattels
5. An appraisal made by a certified appraiser is required:
A) before any property settlement in a divorce.
B) when heirs receive property.
C) when the buyer is using an FHA loan to purchase.
D) before real property can transfer from one owner to another.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: B | Question # 3 Answer: B | Question # 4 Answer: A | Question # 5 Answer: C |
By Howar
