NJ Real Estate Exam 2025 Questions AND Correct Answers
A buyer wishes to give a post-dated check with an offer. The broker should:
A. Accept the post-dated check
c. Inform the buyer that post-dated checks are not accepted
b. Advise the buyer to provide a certified check instead
d. Consult with the seller before deciding - ✔✔ C - Post-dated checks may
create uncertainty and complications in the transaction. It is advisable for the
broker to recommend a certified check, which provides immediate funds and
security.
A fiduciary relationship exists between the listing broker and the seller. The
fiduciary ends, however, if the seller does which of the following?
A. Rejects an offer from a potential buyer
B. Hires an attorney for legal advice
C. Withdraws the property from the market
D. Provides financial disclosures to the buyer - ✔✔ C
A landlord selling his property collected June rent from five tenants: two at
$345 and three at $425. What is the total rent collected? - ✔✔ $1,965
A listing agreement in writing creates which form of agency?
A. Negligent Agency
B. Implied Agency
C. Express Agency
D. Ostensible Agency - ✔✔ C - A written listing agreement creates an
expressed agency. The agency relationship is expressed in writing
,A lot with dimensions of 85' x 190' and 55'9'' x 120' has sold at $2 per square
foot. What is the broker's commission at an 8% rate?
A. $3,654.40
B. $8,208
C. $9,680
D. $11,528 - ✔✔ A
Step 1: Calculate the area of each lot
We have two lots:
Lot 1:
85 ft × 190 ft = 16,150 sq ft
Lot 2:
First, convert 55'9" to decimal:
• 9 inches = 9 ÷ 12 = 0.75 feet
• So, 55'9" = 55.75 ft
55.75 ft × 120 ft = 6,690 sq ft
⸻
Step 2: Total square footage
,16,150 + 6,690 = 22,840 sq ft
⸻
Step 3: Calculate total sale price at $2 per sq ft
22,840 sq ft × $2 = $45,680
⸻
Step 4: Calculate broker's commission at 8%
$45,680 × 0.08 = $3,654.40
A property management contract should include all of the following EXCEPT:
A. Signatures of the property owner and licensee
B. Duration of the agreement
C. Signature of the tenant
D. Management Fee - ✔✔ C
A Real Estate Company listed a piece of property at $4.50 per square foot.
The lot was 50 feet x 137 feet. The commission was 7.25%. What amount
would the seller pay the Real Estate Company?
A. $2,234.83
B. $9,545.25
C. $10,452.88
, D. $16,762.14 - ✔✔ A
Agent Brook is preparing for a listing appointment and has gathered
information to prepare a report of recent market data for the seller to
review. The report agents reconcile to obtain a reasonable list price for a
property based on current listings, recent sales, and expireds would be
called:
A. Comparable Marketing Analytics (CMA)
B. Broker Price Opinion (BPO)
C. Comparative Market Analysis (CMA)
D. Agent Market Analysis (AMA) - ✔✔ C
A. Comparable Marketing Analytics (CMA) — Sounds similar but not a real
term used in real estate.
B. Broker Price Opinion (BPO) — BPOs are often done by brokers for lenders
or asset managers, usually in foreclosure or short sale situations. It's more
formal than a CMA and may be used in place of an appraisal in limited cases.
C. Comparative Market Analysis (CMA) — Correct. A CMA is what agents use
to help recommend a listing price based on:
• Recent sales
• Current listings
• Expired listings
It's designed to reflect the current market conditions.
D. Agent Market Analysis (AMA) — Not an officially recognized term in the
industry.
All of the following are defined and protected under familial status according
to the 1988 amendment of the federal Fair Housing Law of 1968 EXCEPT for
which one?
A buyer wishes to give a post-dated check with an offer. The broker should:
A. Accept the post-dated check
c. Inform the buyer that post-dated checks are not accepted
b. Advise the buyer to provide a certified check instead
d. Consult with the seller before deciding - ✔✔ C - Post-dated checks may
create uncertainty and complications in the transaction. It is advisable for the
broker to recommend a certified check, which provides immediate funds and
security.
A fiduciary relationship exists between the listing broker and the seller. The
fiduciary ends, however, if the seller does which of the following?
A. Rejects an offer from a potential buyer
B. Hires an attorney for legal advice
C. Withdraws the property from the market
D. Provides financial disclosures to the buyer - ✔✔ C
A landlord selling his property collected June rent from five tenants: two at
$345 and three at $425. What is the total rent collected? - ✔✔ $1,965
A listing agreement in writing creates which form of agency?
A. Negligent Agency
B. Implied Agency
C. Express Agency
D. Ostensible Agency - ✔✔ C - A written listing agreement creates an
expressed agency. The agency relationship is expressed in writing
,A lot with dimensions of 85' x 190' and 55'9'' x 120' has sold at $2 per square
foot. What is the broker's commission at an 8% rate?
A. $3,654.40
B. $8,208
C. $9,680
D. $11,528 - ✔✔ A
Step 1: Calculate the area of each lot
We have two lots:
Lot 1:
85 ft × 190 ft = 16,150 sq ft
Lot 2:
First, convert 55'9" to decimal:
• 9 inches = 9 ÷ 12 = 0.75 feet
• So, 55'9" = 55.75 ft
55.75 ft × 120 ft = 6,690 sq ft
⸻
Step 2: Total square footage
,16,150 + 6,690 = 22,840 sq ft
⸻
Step 3: Calculate total sale price at $2 per sq ft
22,840 sq ft × $2 = $45,680
⸻
Step 4: Calculate broker's commission at 8%
$45,680 × 0.08 = $3,654.40
A property management contract should include all of the following EXCEPT:
A. Signatures of the property owner and licensee
B. Duration of the agreement
C. Signature of the tenant
D. Management Fee - ✔✔ C
A Real Estate Company listed a piece of property at $4.50 per square foot.
The lot was 50 feet x 137 feet. The commission was 7.25%. What amount
would the seller pay the Real Estate Company?
A. $2,234.83
B. $9,545.25
C. $10,452.88
, D. $16,762.14 - ✔✔ A
Agent Brook is preparing for a listing appointment and has gathered
information to prepare a report of recent market data for the seller to
review. The report agents reconcile to obtain a reasonable list price for a
property based on current listings, recent sales, and expireds would be
called:
A. Comparable Marketing Analytics (CMA)
B. Broker Price Opinion (BPO)
C. Comparative Market Analysis (CMA)
D. Agent Market Analysis (AMA) - ✔✔ C
A. Comparable Marketing Analytics (CMA) — Sounds similar but not a real
term used in real estate.
B. Broker Price Opinion (BPO) — BPOs are often done by brokers for lenders
or asset managers, usually in foreclosure or short sale situations. It's more
formal than a CMA and may be used in place of an appraisal in limited cases.
C. Comparative Market Analysis (CMA) — Correct. A CMA is what agents use
to help recommend a listing price based on:
• Recent sales
• Current listings
• Expired listings
It's designed to reflect the current market conditions.
D. Agent Market Analysis (AMA) — Not an officially recognized term in the
industry.
All of the following are defined and protected under familial status according
to the 1988 amendment of the federal Fair Housing Law of 1968 EXCEPT for
which one?
