NJ Real Estate PSI Exam Questions and Verified
Answers, 100% Guarantee Pass
1. May a New Jersey Real estate licensee decline to cooperate with other New
Jersey licensees?
Answer: Yes, if the broker directs the salesperson not to cooperate
2. According to the New Jersey law against discrimination, which of the following
classes is not protected?
Answer: convicted felons
3. A number of manufacturing plants in Hometown City recently closed. Based
on the principle of supply and demand, what will happen to the market value
and the market price for properties in the area?
Answer: The Market value and the market price will both decline in this situation
4. Under a rescission agreement, The
Answer: parties are returned to their original positions and all monies must be returned
5. Which if the following actions is NOT a cause for suspension or revocation of a
New Jersey Real Estate license?
,Answer: payment of a referral fee by a licensed New Jersey broker to another broker licensed in another
state
6. Under what conditions may a salesperson accept a bonus offered by a seller
for services rendered?
Answer: The seller pays the bonus to the broker, who passes is on the salesperson
7. According to common-law fiduciary principles, a real estate licensee acting
solely as a buyer's agent will not disclose any confidential information received
from the
Answer: buyer
8. Which of the following is the BEST example of the protection offered by the
Fair Housing Laws to a person with a disability?
Answer: A person who is blind and uses a seeing eye dog must be allowed to rent in a building that
does not allow pets.
9. Broker A has created an extremely aggressive business model which has
allowed for very quick success in the market. The other brokers in the market
area have decided not to allow Broker A to show their listings or show Broker
A's listings. This would violate
Answer: Sherman Antitrust Act
,10. Which of the following is least likely to be considered in establishing the value
of a property by the sales comparison approach?
Answer: capitalization rate
11. Ted and Carol want to buy a house that is listed for $ 105,000. The seller
accepts the offer they wrote for $5000 less than list price. They have 20% down
payment and need to get an 80% LTV mortgage. Their lender offers them a 30
Yr. mortgage at 5.5% interest. The taxes are $1494 per year and the insurance
is $480 per year. How much is their monthly PITI payment? Be sure to use the
amortization table.
Answer: $606.40
12. With regard to the termination date in listing contracts, which of the follow-
ing statements is CORRECT?
Answer: Exclusive agency listings must have a definite termination date
13. Under the New Jersey Real Estate Licensing Law, which of the following is an
unlicensed assistant or secretary NOT permitted to do?
Answer: Make telephone calls to request rent payments
14. Which of the following is TRUE of a VA loan?
Answer: The Department of Veteran Attairs guarantees to lender that they will not sutter a loss if the
, veteran defaults
15. The purpose of Regulation Z
Answer: Inform the public of credit costs
16. As required by the New Jersey Real estate Sales Full Disclosure Act, before
signing any contract for the purchase or lease of a property registered with
Real estate Commission, the purchaser or lessee MUST BE
Answer: New Jersey Public Ottering Statement approved by the commission
17. A seller wants $120,000 for his home, and still owes $20,000 of his original
loan at 7%. The current interest rate is 12%. A buyer can pay $60,000 down and
wants to carry amortgage °-
that includes the seller's $20,000 existing mortgage and the remaining $40,000
for a total of $60,000 at an interest rate of 10%. What kind of mortgage loan is
this?
Answer: Wraparound Mortgage
18. Which of the following entries satisfies the requirement that an advertise-
ment how that the broker is in real estate?
Answer: J Jones, Real Estate Agency
19. The seller accepts an offer that is subject to the sales of the buyers present
Answers, 100% Guarantee Pass
1. May a New Jersey Real estate licensee decline to cooperate with other New
Jersey licensees?
Answer: Yes, if the broker directs the salesperson not to cooperate
2. According to the New Jersey law against discrimination, which of the following
classes is not protected?
Answer: convicted felons
3. A number of manufacturing plants in Hometown City recently closed. Based
on the principle of supply and demand, what will happen to the market value
and the market price for properties in the area?
Answer: The Market value and the market price will both decline in this situation
4. Under a rescission agreement, The
Answer: parties are returned to their original positions and all monies must be returned
5. Which if the following actions is NOT a cause for suspension or revocation of a
New Jersey Real Estate license?
,Answer: payment of a referral fee by a licensed New Jersey broker to another broker licensed in another
state
6. Under what conditions may a salesperson accept a bonus offered by a seller
for services rendered?
Answer: The seller pays the bonus to the broker, who passes is on the salesperson
7. According to common-law fiduciary principles, a real estate licensee acting
solely as a buyer's agent will not disclose any confidential information received
from the
Answer: buyer
8. Which of the following is the BEST example of the protection offered by the
Fair Housing Laws to a person with a disability?
Answer: A person who is blind and uses a seeing eye dog must be allowed to rent in a building that
does not allow pets.
9. Broker A has created an extremely aggressive business model which has
allowed for very quick success in the market. The other brokers in the market
area have decided not to allow Broker A to show their listings or show Broker
A's listings. This would violate
Answer: Sherman Antitrust Act
,10. Which of the following is least likely to be considered in establishing the value
of a property by the sales comparison approach?
Answer: capitalization rate
11. Ted and Carol want to buy a house that is listed for $ 105,000. The seller
accepts the offer they wrote for $5000 less than list price. They have 20% down
payment and need to get an 80% LTV mortgage. Their lender offers them a 30
Yr. mortgage at 5.5% interest. The taxes are $1494 per year and the insurance
is $480 per year. How much is their monthly PITI payment? Be sure to use the
amortization table.
Answer: $606.40
12. With regard to the termination date in listing contracts, which of the follow-
ing statements is CORRECT?
Answer: Exclusive agency listings must have a definite termination date
13. Under the New Jersey Real Estate Licensing Law, which of the following is an
unlicensed assistant or secretary NOT permitted to do?
Answer: Make telephone calls to request rent payments
14. Which of the following is TRUE of a VA loan?
Answer: The Department of Veteran Attairs guarantees to lender that they will not sutter a loss if the
, veteran defaults
15. The purpose of Regulation Z
Answer: Inform the public of credit costs
16. As required by the New Jersey Real estate Sales Full Disclosure Act, before
signing any contract for the purchase or lease of a property registered with
Real estate Commission, the purchaser or lessee MUST BE
Answer: New Jersey Public Ottering Statement approved by the commission
17. A seller wants $120,000 for his home, and still owes $20,000 of his original
loan at 7%. The current interest rate is 12%. A buyer can pay $60,000 down and
wants to carry amortgage °-
that includes the seller's $20,000 existing mortgage and the remaining $40,000
for a total of $60,000 at an interest rate of 10%. What kind of mortgage loan is
this?
Answer: Wraparound Mortgage
18. Which of the following entries satisfies the requirement that an advertise-
ment how that the broker is in real estate?
Answer: J Jones, Real Estate Agency
19. The seller accepts an offer that is subject to the sales of the buyers present
