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Real Estate New Jersey Real Estate Salesperson Sample Questions:

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

2. A broker who charges or collects an advance fee in excess of $25 for services to be rendered MUST:

A) deduct the amount collected from the commission or settlement
B) give the principal receipts for all expenditures
C) retain the difference between the amount of money collected and the amount spent
D) furnish within ninety days of its collection an accounting of how the money was used

3. The primary intent of the statute of frauds is to:

A) enforce oral agreements beyond 1 year.
B) protect licensees from fraudulent activity.
C) reduce real estate contracts to writing.
D) protect the rights of buyers who are disabled.

4. An intoxicated buyer made an offer on a house. The owners accepted the offer. This contract is

A) void.
B) illegal.
C) voidable.
D) unilateral.

5. A ranch house with a double garage is being valued. The house next door, which is similar except that it lacks a garage and has an outside deck, was sold last month for $138,000. Experience in that area shows that a two- car garage is probably worth $10,000 to buyers, while in general, they will pay only $500 extra for a deck.
The ranch house is most likely to sell for around:

A) $148,500
B) $123,500
C) $147,500
D) $128,500

Solutions: