NJ PSI EXAM QUESTIONS |
COMPREHENSIVE NEW JERSEY LICENSING
STUDY GUIDE, PSI EXAM PREP, PRACTICE
TEST AND CORRECT ANSWERS
UPDATED QUESTIONS AND ANSWERS
100% VERIFIED EXAM PREP
[EXAM• STUDY GUIDE • SUMMARY • ASSIGNMENT]
A clean, organized resource designed for easy revision and reference.
QUICK • CLEAR • PROFESSIONAL
, A real estate licensee has a buyer agency agreement. What is customer
the seller in this situation?
An optionor and an optionee make a contract for an option He must exercise his option under the terms of the option contract
on a commercial piece of property. If the optionee decides to
exercise his option, when must he perform?
When can a landlord evict a disabled blind or disabled tenant If the tenant has loud parties and makes too much noise.
from the premises?
Broker Carr, with ABC Real Estate Company, listed the There is not a relationship between the parties. Broker Carr represents the Seller and
property with a seller. Broker Smith, with XYZ Real Estate Broker Smith represents the buyer
Company, called Broker Carr, and disclosed that he was a
Buyer Agent. Broker Smith wrote a contract with a buyer for
the sale of the property. What, if any, is the relationship Dual agency is illegal if not properly disclosed.
between the buyer's broker, the seller, and the listing broker? When you see dual agency make sure "disclosed" is in front of it.
A buyer bought a property without telling the seller of his enforceable
intended purpose for the property. The contract contains no
contingency clause and it is a properly executed contract.
After the closing, the buyer is unable to obtain the zoning he
needs for his commercial project. What is the contract at this
stage?
The seller and the buyer finally agreed to a purchase price of $1,130.14 debit the seller and credit the buyer
$203,500 with the closing to occur on June 15, 2011. The taxes
for the years 2011 in the amount of $2,500 have not been paid
by the seller (Taxes are paid in arrears). How much would the
tax proration amount to, and how would it appear on the final
settlement statement. Base your answer on a 365 day year,
and the buyer is responsible for the day of settlement.
A seller listed his home for six months on February 26. On June 15th
April 29, a buyer made an offer on the property. The listing
broker presented the offer to the seller on April 30. The seller
accepted the offer on May 1, with the closing to occur on June Listing terminates the day closing takes place.
15. Assuming the closing took place on June 15, when did the
listing expire? Written offers to our sellers within 24 hours! Offer on April 30th and accepted May 1st.
COMPREHENSIVE NEW JERSEY LICENSING
STUDY GUIDE, PSI EXAM PREP, PRACTICE
TEST AND CORRECT ANSWERS
UPDATED QUESTIONS AND ANSWERS
100% VERIFIED EXAM PREP
[EXAM• STUDY GUIDE • SUMMARY • ASSIGNMENT]
A clean, organized resource designed for easy revision and reference.
QUICK • CLEAR • PROFESSIONAL
, A real estate licensee has a buyer agency agreement. What is customer
the seller in this situation?
An optionor and an optionee make a contract for an option He must exercise his option under the terms of the option contract
on a commercial piece of property. If the optionee decides to
exercise his option, when must he perform?
When can a landlord evict a disabled blind or disabled tenant If the tenant has loud parties and makes too much noise.
from the premises?
Broker Carr, with ABC Real Estate Company, listed the There is not a relationship between the parties. Broker Carr represents the Seller and
property with a seller. Broker Smith, with XYZ Real Estate Broker Smith represents the buyer
Company, called Broker Carr, and disclosed that he was a
Buyer Agent. Broker Smith wrote a contract with a buyer for
the sale of the property. What, if any, is the relationship Dual agency is illegal if not properly disclosed.
between the buyer's broker, the seller, and the listing broker? When you see dual agency make sure "disclosed" is in front of it.
A buyer bought a property without telling the seller of his enforceable
intended purpose for the property. The contract contains no
contingency clause and it is a properly executed contract.
After the closing, the buyer is unable to obtain the zoning he
needs for his commercial project. What is the contract at this
stage?
The seller and the buyer finally agreed to a purchase price of $1,130.14 debit the seller and credit the buyer
$203,500 with the closing to occur on June 15, 2011. The taxes
for the years 2011 in the amount of $2,500 have not been paid
by the seller (Taxes are paid in arrears). How much would the
tax proration amount to, and how would it appear on the final
settlement statement. Base your answer on a 365 day year,
and the buyer is responsible for the day of settlement.
A seller listed his home for six months on February 26. On June 15th
April 29, a buyer made an offer on the property. The listing
broker presented the offer to the seller on April 30. The seller
accepted the offer on May 1, with the closing to occur on June Listing terminates the day closing takes place.
15. Assuming the closing took place on June 15, when did the
listing expire? Written offers to our sellers within 24 hours! Offer on April 30th and accepted May 1st.
