Real Estate New-Jersey-Real-Estate-Salesperson real exam prep : New Jersey Real Estate Salesperson Exam

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Real Estate New-Jersey-Real-Estate-Salesperson Exam Syllabus Topics:

Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A public utility company is installing power lines across several counties. Will the utility company be more likely to be granted an easement appurtenant or an easement in gross?

A) easement in gross because it allows the holder of the easement to eventually gain title to the encumbered property
B) easement appurtenant because it cannot be extinguished by merger of the dominant and servient tenements
C) easement in gross because it does not require ownership of real property adjacent to the property that is subject to the easement
D) easement appurtenant because it cannot run with the land

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

A) 3 days
B) 48 hours
C) 24 hours
D) 5 days

3. 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?

A) gross rent multiplier
B) income approach
C) replacement cost
D) sales comparison

4. The following statement was found in a real estate sales contract: "In the event of a default by the purchaser, the forfeiture of the earnest money to the seller will be the only compensation to which the seller will be entitled." This statement most likely describes a:

A) indemnification clause
B) liquidated damages clause
C) default delivery clause
D) broker protection clause

5. The main purpose of a deed is to

A) record and acknowledge title transfer.
B) guarantee clear title.
C) provide documentation of legal possession.
D) convey title.

Solutions: