Real Estate New-Jersey-Real-Estate-Salesperson

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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A Seller's Property Disclosure form states that there are no known material defects with the property, but the listing licensee is aware of asbestos wrapped duct pipes in the basement. The licensee should:

A) suggest the buyers have a home inspection and leave discovery up to the inspector.
B) ask the seller's permission to disclose and abide by the seller's wishes.
C) disclose the existence of asbestos to all potential buyers.
D) suggest to the seller wrap the pipes to contain potential airborne contamination.

2. Prospective buyers asked the licensee representing them if it would be a good idea to check the property they wish to purchase for radon. The licensee's best response would be to tell the buyers that:

A) as long as they are non-smokers, it should not be an issue.
B) they should do so, because radon is now considered to be one of the causes of lung cancer.
C) it is unlikely that radon would be a problem in that area.
D) they need not do so, because if radon were present, there would be an odor that would make it easy to detect.

3. A client is considering listing an industrially zoned 10-acre site. It has been vacant for several years, and was formerly used as an automobile junkyard. What would a responsible real estate licensee recommend the seller consider obtaining prior to putting the property on the market?

A) an air quality report from the Environmental Protection Agency
B) an electromagnetic field determination
C) an environmental site assessment
D) a radon measurement analysis

4. Who may give a supportable opinion of market value to be used in seeking a federally-related loan to finance a real estate transaction?

A) a certified appraiser
B) any real estate licensee, in each state in which the licensee is licensed
C) a Certified Public Accountant
D) a licensed real estate broker

5. A private integrated club refused to rent one of its condos to a minority family. The club explained that it did not rent the condos to the public since the condos were for members only. Is the club in violation of the federal Fair Housing Act, and if so, how?

A) Yes, because when race is involved, no exceptions to the federal Fair Housing Act exist.
B) No, because a private club may restrict the rental of its own lodgings to its members as long as the lodgings are not operated commercially.
C) Yes, because the club had minority members, and therefore was not eligible for exemptions from the federal Fair Housing Act.
D) No, because as an integrated club, they could discriminate on the basis of race in renting facilities.

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