Real Estate New-Jersey-Real-Estate-Salesperson Test Engine Practice Test Questions, Exam Dumps [Q64-Q85]

Q64. A married couple is purchasing a home. They ask the salesperson to advise them regarding the best way to take title. The salesperson should

Q65. A subordination agreement is used to:

Q66. A licensee must provide a Consumer Information Statement in all of the following transactions EXCEPT the:

Q67. A seller sold a property for $375,000, with the closing on July 1st, in a jurisdiction where the buyer pays for the day of closing. The seller had a mortgage balance at the time of closing of $301,000, and had recently paid invoices of $400 for the second quarter’s water and electricity, $1,200 for new appliances, and roofing repairs of $700. Based only on these items, how much will the seller receive at closing?

Q68. 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:

Q69. A couple who sell their principal residence may take up to $500,000 in federal capital gains tax-free only if:

Q70. A city has built a new library and has contacted the broker to list and sell the old library building. Which approach should the broker use to estimate the fair market value for the purpose of listing and selling this property?

Q71. A broker who charges or collects an advance fee in excess of $25 for services to be rendered MUST:

Q72. Last year, an apartment building had a net operating income of $174,000. If a potential buyer is looking for a capitalization rate of 8%, how much should the buyer be willing to pay for the building?

Q73. To avoid triggering full disclosure under TILA when advertising financing availability on a listed property, which of the following statements must a real estate licensee avoid using?

Q74. Written offers to purchase real estate in New Jersey must be presented to sellers within:

Q75. A seller places a property on the market for sale at a certain price. A buyer sees the property and makes a written offer to purchase that is 90% of the asking price. The seller rejects that offer, but will accept an offer of 95% of the original asking price. The buyer rejects that counteroffer. The original offer is:

Q76. Limiting the neighborhoods in which a licensee shows houses because of a buyer’s race is:

Q77. Which of the following differentiates a bilateral contract from a unilateral contract?

Q78. A lender whose mortgagor has defaulted may be offered a deed in lieu of foreclosure. If accepted, which of the following will be true?

Q79. A buyer wants to purchase a home for $400,000 with a 15% down payment. The lender charges 1.5 points.
How much money does the buyer need up front to make the purchase?

Q80. A married couple is planning to purchase a house that costs $86,000. If they obtain a 60% loan and the lender charges a 2.5% loan origination fee and 0.5 discount points, what is the cost of these expenses?

Q81. A tenant has an option to purchase leased property. The price that the tenant will pay for the property is determined by the:

Q82. A salesperson is selling a leased commercial property. What will happen to the lease after the sale is consummated?

Q83. In advertisements of individual salespersons, which of the following is permitted?

Q84. 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?

Q85. Who may give a supportable opinion of market value to be used in seeking a federally-related loan to finance a real estate transaction?