NJ Real Estate PSI Exam PSI Practice Test Bank
Exam | Most Recent Exam 2026-2027 | Actual
Comprehensive Real Exam Questions With 100%
Correct Answers | Verified Answers | Already Graded
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Which if the following actions is NOT a cause for suspension or
revocation of a New Jersey Real Estate license?
ANSWERS: payment of a referral fee by a licensed New Jersey broker to
another broker licensed in another state
Under what conditions may a salesperson accept a bonus offered by a
seller for services rendered?
ANSWERS: The seller pays the bonus to the broker, who passes is on the
salesperson
According to common-law fiduciary principles, a real estate licensee
acting
solely as a buyer's agent will not disclose any confidential information
received from the
ANSWERS: buyer
,Which of the following is the BEST example of the protection offered by
the Fair Housing Laws to a person with a disability?
ANSWERS: A person who is blind and uses a seeing eye dog must be
allowed to rent in a building that does not allow pets.
Broker A has created an extremely aggressive business model which has
allowed for very quick success in the market. The other brokers in the
market area have
decided not to allow Broker A to show their listings or show Broker A's
listings. This would violate
ANSWERS: Sherman Antitrust Act
Which of the following is least likely to be considered in establishing the
value of a property by the sales comparison approach?
ANSWERS: capitalization rate
,Ted and Carol want to buy a house that is listed for $ 105,000. The seller
accepts the offer they wrote for $5000 less than list price. They have
20% down payment and need to get an 80% LTV mortgage. Their
lender offers them a 30 Yr.
mortgage at 5.5% interest. The taxes are $1494 per year and the insurance
is $480 per year. How much is their monthly PITI payment? Be sure to
use the amortization table.
ANSWERS: $606.40
With regard to the termination date in listing contracts, which of the
following statements is CORRECT?
ANSWERS: Exclusive agency listings must have a definite termination date
Under the New Jersey Real Estate Licensing Law, which of the following
is an unlicensed assistant or secretary NOT permitted to do?
ANSWERS: Make telephone calls to request rent payments
Which of the following is TRUE of a VA loan?
ANSWERS: The Department of Veteran Affairs guarantees to lender that
they will not suffer a loss if the veteran defaults
The purpose of Regulation Z
ANSWERS: Inform the public of credit costs
, 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 Real estate Commission, the purchaser or lessee MUST BE
ANSWERS: New Jersey Public Offering Statement approved by the
commission
A seller wants $120,000 for his home, and still owes $20,000 of his
original loan at 7%. The current interest rate is 12%. A buyer can pay
$60,000 down and wants to carry amortgage °-
that includes the seller's $20,000 existing mortgage and the remaining
$40,000 for a total of $60,000 at an interest rate of 10%. What kind of
mortgage loan is this?
ANSWERS: Wraparound Mortgage
Which of the following entries satisfies the requirement that an
advertisement how that the broker is in real estate?
ANSWERS: J Jones, Real Estate Agency
The seller accepts an offer that is subject to the sales of the buyers
present home. to avoid waiting around forever
ANSWERS: a contingency for buyer's financing
Exam | Most Recent Exam 2026-2027 | Actual
Comprehensive Real Exam Questions With 100%
Correct Answers | Verified Answers | Already Graded
A+ | Guaranteed Success!! | Newest Exam | Just
Released!!
Which if the following actions is NOT a cause for suspension or
revocation of a New Jersey Real Estate license?
ANSWERS: payment of a referral fee by a licensed New Jersey broker to
another broker licensed in another state
Under what conditions may a salesperson accept a bonus offered by a
seller for services rendered?
ANSWERS: The seller pays the bonus to the broker, who passes is on the
salesperson
According to common-law fiduciary principles, a real estate licensee
acting
solely as a buyer's agent will not disclose any confidential information
received from the
ANSWERS: buyer
,Which of the following is the BEST example of the protection offered by
the Fair Housing Laws to a person with a disability?
ANSWERS: A person who is blind and uses a seeing eye dog must be
allowed to rent in a building that does not allow pets.
Broker A has created an extremely aggressive business model which has
allowed for very quick success in the market. The other brokers in the
market area have
decided not to allow Broker A to show their listings or show Broker A's
listings. This would violate
ANSWERS: Sherman Antitrust Act
Which of the following is least likely to be considered in establishing the
value of a property by the sales comparison approach?
ANSWERS: capitalization rate
,Ted and Carol want to buy a house that is listed for $ 105,000. The seller
accepts the offer they wrote for $5000 less than list price. They have
20% down payment and need to get an 80% LTV mortgage. Their
lender offers them a 30 Yr.
mortgage at 5.5% interest. The taxes are $1494 per year and the insurance
is $480 per year. How much is their monthly PITI payment? Be sure to
use the amortization table.
ANSWERS: $606.40
With regard to the termination date in listing contracts, which of the
following statements is CORRECT?
ANSWERS: Exclusive agency listings must have a definite termination date
Under the New Jersey Real Estate Licensing Law, which of the following
is an unlicensed assistant or secretary NOT permitted to do?
ANSWERS: Make telephone calls to request rent payments
Which of the following is TRUE of a VA loan?
ANSWERS: The Department of Veteran Affairs guarantees to lender that
they will not suffer a loss if the veteran defaults
The purpose of Regulation Z
ANSWERS: Inform the public of credit costs
, 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 Real estate Commission, the purchaser or lessee MUST BE
ANSWERS: New Jersey Public Offering Statement approved by the
commission
A seller wants $120,000 for his home, and still owes $20,000 of his
original loan at 7%. The current interest rate is 12%. A buyer can pay
$60,000 down and wants to carry amortgage °-
that includes the seller's $20,000 existing mortgage and the remaining
$40,000 for a total of $60,000 at an interest rate of 10%. What kind of
mortgage loan is this?
ANSWERS: Wraparound Mortgage
Which of the following entries satisfies the requirement that an
advertisement how that the broker is in real estate?
ANSWERS: J Jones, Real Estate Agency
The seller accepts an offer that is subject to the sales of the buyers
present home. to avoid waiting around forever
ANSWERS: a contingency for buyer's financing
