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

2. A seller refuses to honor a sales agreement. The buyer could seek specific performance, which is a legal request to:

A) force the seller to complete the sales agreement.
B) collect punitive damages from the seller.
C) receive monetary damages for losses suffered.
D) cancel all contractual obligations.

3. A private integrated club refused to rent one of its condos to a minority family. The club explained that it did not rent the condos to the public since the condos were for members only. Is the club in violation of the federal Fair Housing Act, and if so, how?

A) Yes, because the club had minority members, and therefore was not eligible for exemptions from the federal Fair Housing Act.
B) Yes, because when race is involved, no exceptions to the federal Fair Housing Act exist.
C) No, because as an integrated club, they could discriminate on the basis of race in renting facilities.
D) No, because a private club may restrict the rental of its own lodgings to its members as long as the lodgings are not operated commercially.

4. According to the New Jersey Law Against Discrimination, which of the following descriptions may be used in advertising properties in a townhome development?

A) Ethnic neighborhood
B) Senior housing
C) Close to synagogues and churches
D) Singles only

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

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

Solutions: