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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. The local gas company has a 10-foot easement along the rear of a residential lot. This is best known as an easement:

A) by prescription
B) in gross
C) by necessity
D) appurtenant

2. If a salesperson or broker-salesperson maintains a webpage that is not linked to the webpage of their broker, the licensee's webpage must display the name of the broker as well as the

A) address of the branch office from which the licensee operates.
B) broker's telephone number.
C) address of the broker's main office.
D) broker's email address.

3. A lender whose mortgagor has defaulted may be offered a deed in lieu of foreclosure. If accepted, which of the following will be true?

A) The lender will usually retain rights under mortgage insurance or VA guarantee.
B) The lender will take the title subject to any junior liens.
C) Because it is voluntary, it will not be an adverse item on the buyer's credit.
D) The loan will still be assumable.

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

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

5. A deposit check from a buyer paid upon the submission of an offer may be held without being deposited into the broker's escrow account:

A) for no more than five business days after the termination of the attorney review period
B) until all inspections required by the contract have been performed
C) until negotiations are concluded and the seller has accepted the offer
D) for no more than five business days after receipt of the money

Solutions: