US Real Estate New Jersey Advanced Test 8

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Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

Prepared with up-to-date content

Real Estate — New Jersey Professional (Real Estate, USA) USA — New Jersey State Real Estate License — USA

What is this test? for Real Estate Salesperson/Broker prep, USA (national + state law) — Professional (Real Estate, USA) level, USA — New Jersey.
For adults preparing for Real Estate license in the USA
Section: Real Estate — New Jersey · Education: Professional (Adult) · Part: Real Estate — New Jersey · Country: USA · Region: USA — New Jersey

Finance and real estate acumen covers markets, valuation, contracts, and budget management.

This test is designed to reinforce core concepts and help you succeed on your exams.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

What is a lien?

A) lease

B) claim against property for debt

C) deed

D) offer

Question 2

What is agency in real estate?

A) ownership

B) tenancy

C) zoning

D) broker acting for a client

Question 3

What is a listing agreement?

A) purchase offer

B) deed

C) lease

D) contract to sell a property

Question 4

What is earnest money?

A) commission

B) fee

C) tax

D) buyer good-faith deposit

Question 5

What is a fiduciary duty?

A) secrecy from client

B) loyalty, obedience, care to client

C) profit first

D) dual profit

Question 6

What is dual agency?

A) two brokers

B) no representation

C) one broker representing both sides

D) buyer only

Question 7

What is the Fair Housing Act?

A) building code

B) bans housing discrimination

C) tax law

D) zoning code

Question 8

What is a mortgage?

A) rent deal

B) loan secured by property

C) lease

D) deed

Question 9

What classes are protected in housing?

A) politics

B) age only

C) income

D) race, color, religion, sex, handicap, family, national origin

Question 10

What is redlining?

A) appraising

B) mapping

C) surveying

D) illegal denial by neighborhood

Question 11

What is steering?

A) showing homes

B) advertising

C) guiding buyers by race (illegal)

D) negotiating

Question 12

What is a CMA?

A) survey

B) appraisal

C) comparative market analysis

D) inspection

Question 13

What is an appraisal?

A) offer

B) inspection

C) professional value opinion

D) listing

Question 14

What are the three appraisal approaches?

A) show, stage, sell

B) list, sell, close

C) offer, accept, record

D) sales comparison, cost, income

Question 15

What is a fixed-rate mortgage?

A) same rate whole term

B) short term

C) changing rate

D) no interest

Question 16

What is PITI?

A) principal, interest, taxes, insurance

B) a tax

C) a deed

D) a loan type

Question 17

What is LTV?

A) lease term value

B) listing traffic volume

C) land title verification

D) loan-to-value ratio

Question 18

What is PMI?

A) title insurance

B) flood insurance

C) insurance for low down payments

D) property tax

Question 19

What is escrow?

A) commission

B) tax

C) down payment

D) neutral third-party holding

Question 20

What is a deed?

A) ownership transfer document

B) loan paper

C) offer

D) lease

US Real Estate New Jersey Advanced Test 8

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