NJ REAL ESTATE 2026 REVIEW SHEET
WITH COMPLETE SOLUTIONS
⫸ 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 Answer: d
⫸ 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 Answer: b
⫸ An acre is how many Sqft? Answer: 43,560
⫸ Which fact or facts is (are) TRUE concerning the DVA loan?
a) a DVA loan cannot be assumed
b) DVA loans made after March
,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 Answer: d
⫸ 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 Answer: b
⫸ 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 Answer: c
⫸ 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 Answer: b
⫸ A broker establishes a company policy of charging no less than 6%
commission, is this legal? Answer: YES
⫸ Money in a trust account, Broker must?
a) keep accurate records
b) may withdraw commission amount Answer: a
⫸ 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 Answer: a
⫸ 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 Answer: a
WITH COMPLETE SOLUTIONS
⫸ 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 Answer: d
⫸ 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 Answer: b
⫸ An acre is how many Sqft? Answer: 43,560
⫸ Which fact or facts is (are) TRUE concerning the DVA loan?
a) a DVA loan cannot be assumed
b) DVA loans made after March
,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 Answer: d
⫸ 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 Answer: b
⫸ 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 Answer: c
⫸ 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 Answer: b
⫸ A broker establishes a company policy of charging no less than 6%
commission, is this legal? Answer: YES
⫸ Money in a trust account, Broker must?
a) keep accurate records
b) may withdraw commission amount Answer: a
⫸ 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 Answer: a
⫸ 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 Answer: a
