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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. The best way to research the previous owners of the property would be to research the:

A) grantor
B) chain of title
C) abstract
D) lien records

2. A real estate broker's maintained place of business MUST conspicuously display on the exterior the broker's name and the word(s):

A) Licensed Realtor
B) Real Estate Broker
C) Realtor
D) Licensed Real Estate Broker

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

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

4. In many states, usury laws:

A) provide a right to use property belonging to another.
B) establish a maximum rate of interest allowed for loans.
C) impose a tax on a purchaser of personal property for resale or use.
D) determine the possible legal use of land.

5. The Freshwater Wetlands Protection Act of 1987 is a New Jersey law that:

A) empowers the New Jersey Department of Environmental Protection to acquire title to certain real estate for less than its fair market value through condemnation
B) requires the registration of residential development projects with the New Jersey Department of Community Affairs
C) restricts development of real estate in certain designated areas
D) requires environmental impact statements to be filed with the New Jersey Department of Environmental Protection before title to developed real estate can be transferred

Solutions: