Question 1
A New Jersey contract for a one-family home carries the attorney review clause. How long does the review period last?
New Jersey real estate practice test
20 questions: 10 on New Jersey law and 10 national, each answer explained. New Jersey passes you at 77 of 110, which is 70%.
20 free New Jersey practice questions
Answer them all, then mark the test to see every answer explained.
Question 2
A New Jersey broker receives earnest money on an accepted offer. By when must it be deposited?
Question 3
For how long must a New Jersey broker keep records of funds held for others?
Question 4
A New Jersey firm receives a written offer on its listing. How soon must the licensee pass it to the owner?
Question 5
A New Jersey licensee meets a buyer about a house. When must the licensee first tell the buyer about the four business relationships in the Consumer Information Statement?
Question 6
What is enough for a New Jersey brokerage firm to act as a disclosed dual agent?
Question 7
In New Jersey, a firm that works with both the buyer and the seller but represents neither is a:
Question 8
In a New Jersey salesperson's advertisement, how must the broker's business name appear compared with the salesperson's name?
Question 9
When may a New Jersey licensee first advertise that a property has been sold?
Question 10
New Jersey real estate licenses run on two-year terms. On what date do they expire?
Question 11
An owner's oddly shaped lot cannot fit a house within the required setback. Which should she ask the zoning board for?
Question 12
Two siblings own a lake cabin as tenants in common, one with 70% and one with 30%. The 30% owner dies. What happens to her share?
Question 13
Which approach is most useful for valuing a new public library, which rarely sells and earns no rent?
Question 14
A seller orally agrees to sell her house and then changes her mind. Why can the buyer usually not enforce the deal?
Question 15
A seller signs an exclusive right-to-sell listing, then finds a buyer herself. Does the broker earn a commission?
Question 16
An agent mails owners warning that 'people of a different religion are moving in, so sell now before prices fall.' What is this?
Question 17
Federal lead-based paint disclosure rules apply to most housing built before which year?
Question 18
On a conventional loan, when must lenders end private mortgage insurance automatically, if the borrower is current?
Question 19
A buyer agrees to pay $340,000. The home appraises at $330,000. The lender will lend 80% of the price or the appraised value, whichever is less. How much cash must the buyer bring for the down payment?
Question 20
A home has a market value of $400,000 and is assessed at 25% of market value. The tax rate is 65 mills. What is the annual property tax?
| Questions | 110, including 30 on New Jersey law |
|---|---|
| Time | 4 hours |
| To pass | 77 right (70%) |
| Exam fee | $38, paid to PSI |
| Education first | The 75-hour prelicensure course |
| License fee | $160, including $10 for the Guaranty Fund |
Getting licensed in New Jersey
- Finish the 75-hour course. You must be 18 or older with a high school education.
- Book the salesperson exam with PSI, at a test center or online.
- Pass with 77 of 110 right.
- Complete Live Scan fingerprinting and join an employing broker.
- Send your application within your one-year eligibility. Licenses expire June 30 of the term's second year.
What the New Jersey law questions cover
- Attorney review
- Escrow deposits and records
- Presenting offers
- The Consumer Information Statement
- Dual agency and transaction brokers
- Advertising
Next step
Questions people ask
How many questions are on the New Jersey real estate exam?
110 in 4 hours, 30 of them on New Jersey law.
What score do you need to pass the New Jersey real estate exam?
77 right out of 110, which is 70%.
How much does the New Jersey real estate exam cost?
$38, paid to PSI. The salesperson license is $160 more, including $10 for the Guaranty Fund.
How many hours of school do you need in New Jersey?
The 75-hour prelicensure course.