Updated: Aug 14, 2026
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| Section | Objectives |
|---|---|
| Ethics and Professional Responsibility | |
| Valuation and Market Analysis | |
| Real Estate Practice and Disclosures | |
| Property Ownership | |
| New Jersey Real Estate Law and Regulations | |
| Contracts | |
| Agency Relationships and Brokerage | |
| Land Use Controls and Regulations | |
| Financing and Settlement |
1. 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 the New Jersey Real Estate Commission, the purchaser or lessee MUST be provided with a copy of the:
A) filed plat map identifying the location of the property being bought or leased
B) New Jersey Public Offering Statement approved by the Commission
C) deed or other instrument establishing title in the name of the developer
D) Statement of Record filed by the developer with the Commission
2. When MUST a listing broker provide a copy of a fully executed written listing agreement to the owner?
A) Within three days of execution of the listing agreement by registered mail, return-receipt-requested
B) Within five business days of execution of the listing agreement
C) Upon execution of the listing agreement by all parties
D) At the time of presentation of a written offer
3. A tenant has a commercial lease that requires that the tenant pay taxes, insurance, maintenance, and parking lot repairs. What kind of lease does the tenant have?
A) gross
B) ground
C) percentage
D) net
4. A buyer made an offer to purchase a home using a VA loan, but the property's appraised value was determined to be less than the contract price. If the buyer really wants the property, which of the following choices is the buyer's best option?
A) Do nothing, because the seller must sell the property at the appraised value.
B) Seek an FHA lender who will automatically make up the difference between the contract price and the appraised value.
C) Make up the difference between the contract price and appraised value in cash.
D) Hire an appraiser and see if a second appraisal yields a higher appraised value.
5. New Jersey Real Estate Commission regulations require a licensee to terminate membership in a real estate board or multiple listing service whenever the organization:
A) advocates rules, practices, and/or standards with which the licensee does not agree
B) suggests uniform commission rates among all member brokers
C) lobbies against legislation that the licensee personally favors
D) charges dues that the licensee feels are excessive
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: C | Question # 3 Answer: D | Question # 4 Answer: C | Question # 5 Answer: B |
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