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

Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. Which of the following is least likely to be considered in establishing the value of a property by the sales comparison approach?

A) the capitalization rate
B) the date of sale
C) the size of the lot
D) the square footage of the building

2. A national company desires a parcel of land which must be 4 times the size of its proposed building. If the building design includes 20,000 square feet, then which of the following minimum sized lots should be purchased?

A) 2 acres
B) 1 acre
C) 4 acres
D) 8 acres

3. A prospective buyer calls a licensed New Jersey salesperson to inquire about a property listed with that salesperson's brokerage. During the first substantive discussion about the property's price and terms, the salesperson must

A) wait until the buyer is ready to make an offer before presenting the CIS.
B) immediately provide the Consumer Information Statement (CIS).
C) provide the CIS at closing when all agency relationships are finalized.
D) only provide the CIS if the buyer asks for agency representation.

4. A Seller's Property Disclosure form states that there are no known material defects with the property, but the listing licensee is aware of asbestos wrapped duct pipes in the basement. The licensee should:

A) suggest the buyers have a home inspection and leave discovery up to the inspector.
B) disclose the existence of asbestos to all potential buyers.
C) ask the seller's permission to disclose and abide by the seller's wishes.
D) suggest to the seller wrap the pipes to contain potential airborne contamination.

5. A couple who sell their principal residence may take up to $500,000 in federal capital gains tax-free only if:

A) they buy a replacement home of equal or greater value than the one being sold within a year.
B) they have owned and occupied the house for at least 2 of the previous 5 years.
C) at least one of them has reached the age of 65.
D) neither has ever used the Homesellers Exclusion in the past.

Solutions: