1
PSI Real Estate State Exam (NJ) Updated 2025 Actual
exam (Testing Real Exam Questions)and verified
Answers ( 100% accurate) GET IT RIGHT!!
When a land owner uses his land as security for a loan, the encumbrance created
is called. - (answers)C. an involuntary lien
If an owner wants to list a property for sale "as is," the listing agent should -
(answers)C. Question the seller to any known defects
According to the New Jersey Real Estate Time Share Act, if a licensee is selling a
timeshare located within the state of New Jersey, all of the following are true
EXCEPT that the - (answers)A. licensee must hold a timeshare license
May a New Jersey real estate licensee decline to cooperate with other New Jersey
licensees - (answers)C. Yes, if the broker directs the salesperson not to cooperate
A motel is the subject of an appraisal and it is determined that rerouting of a
county highway has limited customer access to to the motel. This is an example of
- (answers)A. Economic obsolesce
An exclusive buyer representation agreement does not include a legal description
of the property. What is the result of this omisison? - (answers)D. The agreement
is voidable until a legal description is provided
Which of the following items would be prorated at closing with credit going to the
seller? - (answers)D. Unearned rent collections in advance?
, 2
Jones and Halstead lice across the street from each other in a subdivision in which
homeowners are prohibited by deed restriction from keeping large animals on
their property. Jones discovers that Halstead is keeping a Shetland pony in the
backyard. Can Jones take action to enforce the deed restriction? - (answers)A.
Yes, because Jones can force any other property owner in the subdivision to
comply with deed restrictions.
In New Jersey, the fee which Must be paid when fee simple title to a parcel of real
estate passes for a consideration from one party to another is the: - (answers)The
Realty Transfer Fee (RTF)
What is the greatest ADVANTAGE of using FHA financing when purchasing a home
that the buyer plans to occupy? - (answers)The required down payment may be
lower than conventional loans
A broker has a single agency relationship with the seller. Any REQUIRED property
condition disclosure would be completed by the - (answers)Seller/ Agent on
behalf of the seller
Which of the following statements is TRUE regarding an option agreement? -
(answers)C. The seller agrees to sell at a fixed price within a stipulated time.
A low loan-to-value ratio indicated a - (answers)C. higher equity in the property.
, 3
An offer was presented but the seller did not accept the offer; instead he
suggested different terms that would be more acceptable. Which of the following
is false? - (answers)C. This is a negotiation that keeps the original offer alive.
A buyer contracted to purchase a vacant lot for $350,000 cash with no
contingencies. The buyer intends to build a professional office complex on the
property. However, the buyer did not advise the seller of this intent. Prior to
closing, the buyer learns that local zoning will not allow an office complex. The
buyer's contract may be considered. - (answers)Void
A licensee representing a landlord is concerned when a prospective tenant
mentions that she has recently left her homeland to work as a research
consultant under a grant at a local hospital, and hopes to return to her native
country with valuable knowledge to share when the project ends. What steps, if
any, is the licensee legally able to take in protecting her client's interest? -
(answers)A. Under no circumstances may the licensee inquire as to the legal
residency status of the prospective tenant.
Which of the following statements is the BEST example of puffing? - (answers)B.
This is the best buy you'll find all year.
A complaint must be filed with HUD within what period of time after a fair
housing violation has occurred? - (answers)B. 1 month
Which of the following differentiates a bilateral contract from a unilateral
contract? - (answers)B. performance obligations of the parties
PSI Real Estate State Exam (NJ) Updated 2025 Actual
exam (Testing Real Exam Questions)and verified
Answers ( 100% accurate) GET IT RIGHT!!
When a land owner uses his land as security for a loan, the encumbrance created
is called. - (answers)C. an involuntary lien
If an owner wants to list a property for sale "as is," the listing agent should -
(answers)C. Question the seller to any known defects
According to the New Jersey Real Estate Time Share Act, if a licensee is selling a
timeshare located within the state of New Jersey, all of the following are true
EXCEPT that the - (answers)A. licensee must hold a timeshare license
May a New Jersey real estate licensee decline to cooperate with other New Jersey
licensees - (answers)C. Yes, if the broker directs the salesperson not to cooperate
A motel is the subject of an appraisal and it is determined that rerouting of a
county highway has limited customer access to to the motel. This is an example of
- (answers)A. Economic obsolesce
An exclusive buyer representation agreement does not include a legal description
of the property. What is the result of this omisison? - (answers)D. The agreement
is voidable until a legal description is provided
Which of the following items would be prorated at closing with credit going to the
seller? - (answers)D. Unearned rent collections in advance?
, 2
Jones and Halstead lice across the street from each other in a subdivision in which
homeowners are prohibited by deed restriction from keeping large animals on
their property. Jones discovers that Halstead is keeping a Shetland pony in the
backyard. Can Jones take action to enforce the deed restriction? - (answers)A.
Yes, because Jones can force any other property owner in the subdivision to
comply with deed restrictions.
In New Jersey, the fee which Must be paid when fee simple title to a parcel of real
estate passes for a consideration from one party to another is the: - (answers)The
Realty Transfer Fee (RTF)
What is the greatest ADVANTAGE of using FHA financing when purchasing a home
that the buyer plans to occupy? - (answers)The required down payment may be
lower than conventional loans
A broker has a single agency relationship with the seller. Any REQUIRED property
condition disclosure would be completed by the - (answers)Seller/ Agent on
behalf of the seller
Which of the following statements is TRUE regarding an option agreement? -
(answers)C. The seller agrees to sell at a fixed price within a stipulated time.
A low loan-to-value ratio indicated a - (answers)C. higher equity in the property.
, 3
An offer was presented but the seller did not accept the offer; instead he
suggested different terms that would be more acceptable. Which of the following
is false? - (answers)C. This is a negotiation that keeps the original offer alive.
A buyer contracted to purchase a vacant lot for $350,000 cash with no
contingencies. The buyer intends to build a professional office complex on the
property. However, the buyer did not advise the seller of this intent. Prior to
closing, the buyer learns that local zoning will not allow an office complex. The
buyer's contract may be considered. - (answers)Void
A licensee representing a landlord is concerned when a prospective tenant
mentions that she has recently left her homeland to work as a research
consultant under a grant at a local hospital, and hopes to return to her native
country with valuable knowledge to share when the project ends. What steps, if
any, is the licensee legally able to take in protecting her client's interest? -
(answers)A. Under no circumstances may the licensee inquire as to the legal
residency status of the prospective tenant.
Which of the following statements is the BEST example of puffing? - (answers)B.
This is the best buy you'll find all year.
A complaint must be filed with HUD within what period of time after a fair
housing violation has occurred? - (answers)B. 1 month
Which of the following differentiates a bilateral contract from a unilateral
contract? - (answers)B. performance obligations of the parties
