Real Estate Exam Questions And 100 Correct Answers
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Course
NU1426
Institution
NU1426
Real Estate Exam Questions And 100% Correct Answers
If a broker is expecting to receive 6% commission on a sale of $250,000 house, what will the commission be?
a) $750
b) $1,500
c) $7,500
d) $15,000
A lot measuring 240' by 400' is selling for $400 a front foot. What is the price?
a) $1,...
NJ Real Estate Exam 2023 with 100% correct
answers
1). If a broker is expecting to receive 6% commission on a sale of $250,000 house, what will the
commission be?
a) $750
b) $1,500
c) $7,500
d) $15,000
Ans: d
2). A lot measuring 240' by 400' is selling for $400 a front foot. what is the price?
a) $1,600
b) $16,000
c) $72,000
d) $96,000
Ans: d
3). If the frontage of a half acre lot is 100 feet, how deep is it?
a) 154 ft
b) 218 ft
c) 248 ft
d) 436 ft
Ans: b
4). An acre is how many sqft?
Ans: 43,560
5). Which fact or facts is (are) true concerning the dva loan?
a) a dva loan cannot be assumed
b) dva loans made after march
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, 1,1998 are freely assumable
c) the veteran must be careful how she/he uses up eligibility
d) the dva fixes the rate of interest charged by the lender
Ans: d
6). Selling price: $325,000, 20% down and 2 points plus $2,000 closing fees. what is the total
cash required to close?
a) 71,500
b) 72,200
c) 73,500
d) 75,600
Ans: b
7). Which of the following is not characteristic of a dva loan?
a) loan is guaranteed
b) owner occupied
c) loan is insured
d) little or no down payment
Ans: c
8). If a lender charges 2 points on a $60,000 loan, how much does the lender get?
a) 120
b) 1,200
c) 2,400
d) none of the above
Ans: b
9). A broker establishes a company policy of charging no less than 6% commission, is this
legal?
Ans: YES
10). Money in a trust account, broker must?
a) keep accurate records
b) may withdraw commission amount
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, Ans: a
11). One who has the right to sign the name of a principal to a contract of sale is:
a) an attorney in fact
b) broker with a listing
c) a special agent
d) an attorney at law
Ans: a
12). A deed made and delivered but not recorded is:
a) valid between the parties and valid as to third parties with notice
b) invalid between the parties
Ans: a
13). Two partners own real estate, one has 60% interest, the other has 40% this is :
a) joint tenancy
b) tenancy in common
(no right of survivorship)
Ans: b
14). Which is true of real estate appraisers?
a) they may not advertise
b) fee is based on % of appraised value
c) must have designation such as mai or srea
d) none of the above
Ans: d
15). The term littoral describes which of the following?
a) land bordering water affected by the tide currents
b) land bordering water that is flowing like a stream
c) land bordering any kind of body of water
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