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| Section | Weight | Objectives |
|---|---|---|
| National Portion | 73% | - Property Ownership
|
| New Jersey State-Specific Portion | 27% | - Licensing Requirements
|
1. A broker is offering a $100 gift certificate at a jewelry store to all sellers who list with the broker during a specified time period. According to the New Jersey Real Estate License Law, such a promotion is prohibited because it:
A) discriminates against sellers who do not list with the broker during the specified time period
B) discriminates against sellers whose religion prohibits the wearing of jewelry
C) offers compensation for brokerage activity to unlicensed persons
D) makes the receipt of the free offering contingent upon sellers listing their properties with the broker
2. Prospective buyers for a house want to operate a recycling center in their backyard. Local zoning laws do not allow this. What do they need to do first?
A) Obtain a modification to the local master plan.
B) File an appeal with the local court.
C) Obtain a building permit.
D) Obtain a variance or special exception.
3. Written offers to purchase real estate in New Jersey must be presented to sellers within:
A) 48 hours
B) 24 hours
C) 3 days
D) 5 days
4. A national company desires a parcel of land which must be 4 times the size of its proposed building. If the building design includes 20,000 square feet, then which of the following minimum sized lots should be purchased?
A) 2 acres
B) 8 acres
C) 1 acre
D) 4 acres
5. After announcing that a new city park will soon be developed, homes in the immediate area experience a rise in value. This is an example of which of the following principles of value?
A) contribution
B) anticipation
C) highest and best use
D) change
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: D | Question # 3 Answer: B | Question # 4 Answer: B | Question # 5 Answer: B |
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