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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. Which action would be allowed according to the Federal Fair Housing law?

A) Broker A meets a new Hispanic buyer client. Broker B just sold a handful of condos to other Hispanic buyers in the Kentwood neighborhood, so broker A suggests the new buyer might be comfortable in that neighborhood.
B) A landlord receives a rental application from a prospective tenant, who came from Russia a few years ago to attend the local university. The lender denies the rental application after asking for the prospective tenant's visa and determines that it expires in 3 months.
C) A lender receives notice that a loan application submitted on behalf of a client has been denied. The lender knew the borrower was well qualified, but is told that area is off limits for new loans because of its crime rate.
D) A broker informs a potential seller that there is an influx of immigrants snatching up rentals in the neighborhood, so this would be a good time to sell.

2. A property that contains a 2,500-square-foot house has a land value of $45,000. The house suffers from
$7,000 of physical depreciation and $2,500 of functional obsolescence. If the replacement cost of the house is
$75 per square foot, what is the value of the property?

A) $178,000
B) $187,500
C) $223,000
D) $232,500

3. In surveying, monuments are used to establish:

A) flood elevation
B) a common address
C) real estate boundaries
D) historical sites

4. Evergreen bushes and apple trees on a property that were planted by the current owner are examples of:

A) trade fixtures
B) chattels
C) personal property
D) real estate

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

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

Solutions: