NJ Real Estate Exam Practice
Questions and Answers | Latest
Version | 2025/2026 | Correct & Verified
Which type of agency relationship allows a broker to represent both buyer and seller in New
Jersey with consent?
A. Single agency
B. Dual agency
C. Subagency
D. Designated agency
✔✔Dual agency
What is the primary purpose of a New Jersey Broker’s license?
A. To appraise property
B. To represent clients in real estate transactions
C. To provide legal advice
D. To handle escrow funds only
✔✔To represent clients in real estate transactions
Which document in New Jersey must be provided to buyers explaining agency relationships?
A. Seller’s Disclosure Statement
B. Buyer Representation Agreement
C. Disclosure Regarding Real Estate Agency Relationships
1
,D. Property Condition Disclosure
✔✔Disclosure Regarding Real Estate Agency Relationships
What is NJ’s statutory period for filing a mechanics lien?
A. 30 days
B. 90 days
C. 120 days
D. 6 months
✔✔90 days
Which NJ agency regulates real estate licensing?
A. Department of Housing
B. New Jersey Real Estate Commission
C. Division of Consumer Affairs
D. NJ Department of Banking
✔✔New Jersey Real Estate Commission
Which form of ownership in NJ includes rights of survivorship automatically?
A. Tenancy in common
B. Joint tenancy
C. Fee simple absolute
D. Community property
✔✔Joint tenancy
2
,Which of the following is considered real property in NJ?
A. Detached furniture
B. Free-standing appliances
C. Built-in cabinetry
D. Area rugs
✔✔Built-in cabinetry
What is the main purpose of an earnest money deposit in NJ?
A. Pay property taxes
B. Demonstrate buyer’s good faith
C. Serve as down payment
D. Cover closing costs
✔✔Demonstrate buyer’s good faith
Which NJ law requires disclosure of known lead-based paint hazards?
A. Real Estate Full Disclosure Act
B. Lead Hazard Disclosure Law
C. Residential Property Disclosure Act
D. Environmental Protection Act
✔✔Lead Hazard Disclosure Law
Which type of listing allows the broker to earn a commission only if they procure a buyer?
3
, A. Exclusive right to sell
B. Exclusive agency
C. Open listing
D. Net listing
✔✔Exclusive agency
Which type of NJ contract allows one party to perform without obligation from the other?
A. Bilateral
B. Unilateral
C. Executed
D. Voidable
✔✔Unilateral
What is the NJ requirement for a property disclosure statement?
A. Optional
B. Required for commercial properties only
C. Required for most residential sales
D. Only for new construction
✔✔Required for most residential sales
Which NJ lien takes priority over all others?
A. Mortgage lien
B. Judgment lien
4
Questions and Answers | Latest
Version | 2025/2026 | Correct & Verified
Which type of agency relationship allows a broker to represent both buyer and seller in New
Jersey with consent?
A. Single agency
B. Dual agency
C. Subagency
D. Designated agency
✔✔Dual agency
What is the primary purpose of a New Jersey Broker’s license?
A. To appraise property
B. To represent clients in real estate transactions
C. To provide legal advice
D. To handle escrow funds only
✔✔To represent clients in real estate transactions
Which document in New Jersey must be provided to buyers explaining agency relationships?
A. Seller’s Disclosure Statement
B. Buyer Representation Agreement
C. Disclosure Regarding Real Estate Agency Relationships
1
,D. Property Condition Disclosure
✔✔Disclosure Regarding Real Estate Agency Relationships
What is NJ’s statutory period for filing a mechanics lien?
A. 30 days
B. 90 days
C. 120 days
D. 6 months
✔✔90 days
Which NJ agency regulates real estate licensing?
A. Department of Housing
B. New Jersey Real Estate Commission
C. Division of Consumer Affairs
D. NJ Department of Banking
✔✔New Jersey Real Estate Commission
Which form of ownership in NJ includes rights of survivorship automatically?
A. Tenancy in common
B. Joint tenancy
C. Fee simple absolute
D. Community property
✔✔Joint tenancy
2
,Which of the following is considered real property in NJ?
A. Detached furniture
B. Free-standing appliances
C. Built-in cabinetry
D. Area rugs
✔✔Built-in cabinetry
What is the main purpose of an earnest money deposit in NJ?
A. Pay property taxes
B. Demonstrate buyer’s good faith
C. Serve as down payment
D. Cover closing costs
✔✔Demonstrate buyer’s good faith
Which NJ law requires disclosure of known lead-based paint hazards?
A. Real Estate Full Disclosure Act
B. Lead Hazard Disclosure Law
C. Residential Property Disclosure Act
D. Environmental Protection Act
✔✔Lead Hazard Disclosure Law
Which type of listing allows the broker to earn a commission only if they procure a buyer?
3
, A. Exclusive right to sell
B. Exclusive agency
C. Open listing
D. Net listing
✔✔Exclusive agency
Which type of NJ contract allows one party to perform without obligation from the other?
A. Bilateral
B. Unilateral
C. Executed
D. Voidable
✔✔Unilateral
What is the NJ requirement for a property disclosure statement?
A. Optional
B. Required for commercial properties only
C. Required for most residential sales
D. Only for new construction
✔✔Required for most residential sales
Which NJ lien takes priority over all others?
A. Mortgage lien
B. Judgment lien
4
