Real Estate New Jersey Real Estate Salesperson : New-Jersey-Real-Estate-Salesperson

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Real Estate New-Jersey-Real-Estate-Salesperson Exam Syllabus Topics:

Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. The best way to research the previous owners of the property would be to research the:

A) chain of title
B) lien records
C) abstract
D) grantor

2. The feature that most distinguishes a joint tenancy from a tenancy in common is

A) unity of possession.
B) right of transfer.
C) right of survivorship
D) undivided interests.

3. Which of the following is least likely to be considered in establishing the value of a property by the sales comparison approach?

A) the square footage of the building
B) the capitalization rate
C) the date of sale
D) the size of the lot

4. The main purpose of a deed is to

A) guarantee clear title.
B) provide documentation of legal possession.
C) record and acknowledge title transfer.
D) convey title.

5. A home sold for $400,000. It was appraised for $402,000, and the assessed value was $320,000. Assume in this situation, the real estate transfer tax of 1% is paid by the grantee. How much will the seller owe at closing for transfer fees?

A) $4,000
B) $4,020
C) $0
D) $3,200

Solutions: