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Last Updated: Sep 02, 2026
No. of Questions: 122 Questions & Answers with Testing Engine
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| Section | Objectives |
|---|---|
| Topic 1: Valuation and Market Analysis | |
| Topic 2: Contracts | |
| Topic 3: Financing and Settlement | |
| Topic 4: Land Use Controls and Regulations | |
| Topic 5: Agency Relationships and Brokerage | |
| Topic 6: Ethics and Professional Responsibility | |
| Topic 7: Real Estate Practice and Disclosures | |
| Topic 8: New Jersey Real Estate Law and Regulations | |
| Topic 9: Property Ownership |
Question 1
Which of the following is a radioactive odorless gas which may require mitigation?
A. radon
B. asbestos
C. carbon monoxide
D. formaldehyde
Question 2
A contract is delivered to the listing broker by a cooperating broker. The listing broker makes an appointment with the owner to present the offer at 7 p.m. of that day. Before 7 p.m., two more offers arrive on the same property. Which offer should be presented to the owner at the 7 p.m. appointment?
A. the first offer received
B. the offer with the highest sale price
C. the offer most favorable to the seller, including price and all terms
D. all three of the offers
Question 3
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?
A. $139,200
B. $1,392,000
C. $174,000
D. $2,175,000
Question 4
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?
A. $73,600
B. $71,700
C. $72,400
D. $74,000
Question 5
A broker maintains a real estate agency and terminated two salespersons. In this situation, the broker is REQUIRED to take all the following actions with regard to these two salespersons EXCEPT:
A. provide each with a written accounting of all monies due each salesperson.
B. permit them to remove original sales or listing contracts from the broker's office.
C. abide by the post-termination compensation clause contained in their employment agreements or provide a written explanation for not doing so.
D. pay any undisputed compensation due within ten days of the broker's receipt of such funds.
Solutions:
| Question 1 Answer: A | Question 2 Answer: D | Question 3 Answer: B | Question 4 Answer: D | Question 5 Answer: B |
Bennett
Chasel
Eden
Grover
Jim
Mark
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