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| Section | Weight | Objectives |
|---|---|---|
| New Jersey State-Specific Portion | 27% | - Real Estate Commission Powers and Duties
|
| National Portion | 73% | - Valuation and Market Analysis
|
1. Which of the following statements would most likely be considered mere "puffing"?
A) This lot has the most beautiful view of the lake.
B) Children from this neighborhood have the highest SAT scores.
C) The utility costs in this home are lower than in any other home in the neighborhood.
D) This area is expected to increase in value by 25% within the next year.
2. Two parcels of land priced at $2,100 per acre were purchased. One parcel was 5 acres in size, and the other was 1 square mile in size. How much should these two parcels have cost together?
A) $1,060,500
B) $914,760
C) $1,354,500
D) $766,000
3. In surveying, monuments are used to establish:
A) historical sites
B) a common address
C) real estate boundaries
D) flood elevation
4. Evergreen bushes and apple trees on a property that were planted by the current owner are examples of:
A) chattels
B) personal property
C) real estate
D) trade fixtures
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) for no more than five business days after receipt of the money
D) until negotiations are concluded and the seller has accepted the offer
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: C | Question # 5 Answer: A |
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