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

SectionWeightObjectives
Topic 1: New Jersey State-Specific Portion27%- New Jersey Specific Laws
  • 1. Time-Share Act
  • 2. Real Estate Sales Full Disclosure Act
  • 3. Real Estate Guaranty Fund
  • 4. Law Against Discrimination
- Real Estate Commission Powers and Duties
  • 1. Regulatory authority
  • 2. Licensing and enforcement
  • 3. Rulemaking
- Statutes Governing Licensee Activities
  • 1. Trust accounts and record keeping
  • 2. Advertising regulations
  • 3. Licensee conduct rules
- Licensing Requirements
  • 1. Education requirements
  • 2. Application process
  • 3. Eligibility criteria
Topic 2: National Portion73%- Valuation and Market Analysis
  • 1. Market value vs cost
  • 2. Appraisal principles
  • 3. Comparative market analysis
- Real Estate Contracts
  • 1. Leases and listing agreements
  • 2. Purchase agreements
  • 3. Contract elements
- Real Estate Mathematics
  • 1. Area and volume
  • 2. Tax and proration math
  • 3. Commission calculations
- Transfer of Property
  • 1. Deeds and title insurance
  • 2. Closing procedures
  • 3. Title transfer
- Fair Housing and Ethics
  • 1. Federal laws
  • 2. Ethical standards
  • 3. Prohibited practices
- Agency Relationships and Duties
  • 1. Types of agency
  • 2. Disclosure requirements
  • 3. Fiduciary duties
- Financing
  • 1. Lending regulations
  • 2. Closing and settlement
  • 3. Mortgage types
- Property Ownership
  • 1. Property rights and interests
  • 2. Legal descriptions
  • 3. Types of ownership
- Land Use Controls and Regulations
  • 1. Zoning and planning
  • 2. Private land use controls
  • 3. Public restrictions

Real Estate New Jersey Real Estate Salesperson Sample Questions:

Question #1

Which action would be allowed according to the Federal Fair Housing law?

  • A. Broker A meets a new Hispanic buyer client. Broker B just sold a handful of condos to other Hispanic buyers in the Kentwood neighborhood, so broker A suggests the new buyer might be comfortable in that neighborhood.
  • B. A lender receives notice that a loan application submitted on behalf of a client has been denied. The lender knew the borrower was well qualified, but is told that area is off limits for new loans because of its crime rate.
  • C. A landlord receives a rental application from a prospective tenant, who came from Russia a few years ago to attend the local university. The lender denies the rental application after asking for the prospective tenant's visa and determines that it expires in 3 months.
  • D. A broker informs a potential seller that there is an influx of immigrants snatching up rentals in the neighborhood, so this would be a good time to sell.
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Correct Answer: C  🗳️

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Question #2

Which of the following differentiates a bilateral contract from a unilateral contract?

  • A. relative value of the object of the contract
  • B. number of parties involved
  • C. type of property specified in the contract
  • D. performance obligations of the parties
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Correct Answer: D  🗳️

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Question #3

Under the New Jersey Real Estate Licensing Law, which of the following is an unlicensed assistant or secretary NOT permitted to do?

  • A. Make telephone calls to request rent payments
  • B. Follow up on loan applications with lenders
  • C. Place signs on properties
  • D. Type contracts for approval
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Correct Answer: A  🗳️

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Question #4

Which of the following is a permitted free offering?

  • A. A free dinner for attendees at a homebuyers' evening seminar
  • B. Free use of a local moving van for all listings
  • C. A complimentary home warranty with every listing
  • D. A coupon for discounted commission on listing services
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Correct Answer: A  🗳️

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Question #5

A property was listed for $110,000. It sold for $106,000. A 6.5% fee was split equally between the listing and selling real estate firms. The listing licensee received 55% of the listing office share. How much did the listing licensee receive?

  • A. $3,575.00
  • B. $1,966.25
  • C. $3,789.50
  • D. $1,894.75
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Correct Answer: D  🗳️

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