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

SectionWeightObjectives
National Portion (80 questions)73%- Practice and Ethics
  • 1. Fiduciary duties
  • 2. Trust account requirements
  • 3. Licensee responsibilities
  • 4. Code of ethics
- Calculations
  • 1. Commission calculations
  • 2. Interest and amortization
  • 3. ROI and capitalization rates
  • 4. Proration calculations
- Finance and Lending
  • 1. Foreclosure processes
  • 2. Financing types and products
  • 3. Loan application and approval
  • 4. Mortgage calculations
- Real Property Ownership and Land Use
  • 1. Types of ownership
  • 2. Property rights and interests
  • 3. Zoning and land use regulations
  • 4. Encumbrances and liens
- Property Transfer and Disclosure
  • 1. Deeds and title transfer
  • 2. Federal fair housing laws
  • 3. Listing agreements
  • 4. Disclosure requirements
- Contracts and Agreements
  • 1. Breach of contract remedies
  • 2. Purchase and sale contracts
  • 3. Contract contingencies
  • 4. Lease agreements
New Jersey State Portion (30 questions)27%- New Jersey Real Estate Commission Rules
  • 1. Advertising rules
  • 2. Office and supervisory requirements
  • 3. Commission regulations
  • 4. Transaction requirements
- New Jersey License Law
  • 1. License requirements and qualifications
  • 2. Continuing education requirements
  • 3. License types and categories
  • 4. Disciplinary procedures
- New Jersey-Specific Practices
  • 1. New Jersey landlord-tenant law basics
  • 2. Brokerage arrangements
  • 3. State-specific contracts and forms
  • 4. Agency relationships in NJ

Real Estate New Jersey Real Estate Salesperson Sample Questions:

Question #1

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. $72,400
  • B. $71,700
  • C. $73,600
  • D. $74,000
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Correct Answer: D  🗳️

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Question #2

A salesperson is selling a leased commercial property. What will happen to the lease after the sale is consummated?

  • A. The lease expires and the tenant must move.
  • B. The lease is assigned to the new owner.
  • C. The tenant and the new owner must negotiate a new lease.
  • D. The new owner has the option of canceling the lease or accepting the lease.
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Correct Answer: B  🗳️

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Question #3

Which action would be allowed according to the Federal Fair Housing law?

  • A. Broker A meets a new Hispanic buyer client. Broker B just sold a handful of condos to other Hispanic buyers in the Kentwood neighborhood, so broker A suggests the new buyer might be comfortable in that neighborhood.
  • B. A lender receives notice that a loan application submitted on behalf of a client has been denied. The lender knew the borrower was well qualified, but is told that area is off limits for new loans because of its crime rate.
  • C. A landlord receives a rental application from a prospective tenant, who came from Russia a few years ago to attend the local university. The lender denies the rental application after asking for the prospective tenant's visa and determines that it expires in 3 months.
  • D. A broker informs a potential seller that there is an influx of immigrants snatching up rentals in the neighborhood, so this would be a good time to sell.
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Correct Answer: C  🗳️

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Question #4

A purchase money note need NOT contain the:

  • A. loan-to-value ratio.
  • B. rate of interest.
  • C. time and method of payment.
  • D. principal amount of the loan.
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Correct Answer: A  🗳️

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Question #5

In advertisements of individual salespersons, which of the following is permitted?

  • A. Having the broker's name appear in smaller print than the salesperson's name in a newspaper ad.
  • B. Including reference to a home office.
  • C. Linking a personal real estate webpage to the salesperson's broker's website.
  • D. Placing the real estate office sign on a personal residence.
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Correct Answer: C  🗳️

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