NJ REAL ESTATE EXAM 3 Questions with
100% correct Answers Latest Updates
2025 GRADED A+
1. A home is assessed at 60 percent of its $680,000 value. Homes are taxed at a rate of .035. What is the
monthly tax bill? a. $1,190
b. $14,280
c. $23,800
d. $1,068 - correct answera
2. An agent's commission check was $6,500 which was 60% of the full amount. To the nearest dollar
how much did the broker keep? a. $13,000
b. $4,333
c. $10,833
d. $5,330 - correct answerb
3. An owner of a rental property calls her salesperson and asks her to keep certain minorities out of the
house. The salesperson should say:
a. "don't worry about a thing!"
b. "I know what you mean, who needs them!"
c. "I have no problem, you're the boss.
d. "I cannot help you if you persist. - correct answerd
4. An owner of a hair salon has a five year lease that is up for renewal. If the lease says nothing to the
contrary, the lessee: a. may remove all the trade fixtures she had installed and leave
after paying the final month's rent, but must inform the Landlord of her decision.
b. must give 30 days notice before she leaves.
,c. must give 3 months notice of her decision to leave. d. may remove all the trade fixtures she had
installed but what she doesn't take becomes the property of the Landlord. - correct answerd
5.A group of women sit down at a steak house restaurant. The server takes their order. What kind of
contract does this situation describe?
a. an express contract
b. an implied contract
c. a unilateral contract
d. a bilateral contract - correct answerb
6. "I will do this if you will do that," best describes:
a. an express contract
b. an implied contract
c. a unilateral contract
d. a bilateral contract - correct answerc
7. A deed before it is recorded must be:
a. signed by the grantee
b. accepted and delivered
c. acknowledged
d. held by a trustee - correct answerc
8. A deed in lieu of foreclosure means:
a. The owner gives the lender the deed in exchange for letting him walk away from the mortgage
commitment, avoiding future court costs. b. The owner will pay a deficiency judgment .
c. The mortgagee must sue for possession.
d. The owner sells the house short and the lender sues for the difference. - correct answera
9. As an artificial person a Corporation owns real property: a. In entirety
b. In severalty
, c. As a syndicate
d. As an escheat Corporation - correct answerb
10. When a mortgage loan is paid in full a clause in the loan contract stipulates that the bank shall
release its lien. This clause is called?
a. an estoppel
b. a reduction
c. a defeasance
d. a relief - correct answerc
11. A listing agreement creates an agency relationship between: a. seller & buyer
b. buyer & agent
c. agent & seller
d. agent & broker - correct answerc
12. A seller agrees to buy down an interest rate to make the loan affordable for the buyer. The seller
pays 3 points at closing on a loan of $224,000 for a house sale of $280,000. Which statement is true? a.
$2,224 is paid by seller
b. $6,720 is a credit to the seller
c. $6,720 is a debit to the seller
d. $6,720 is a debit to the buyer - correct answerc
13. The CFPB took over some of the duties of this federal agency? a. ECOA
b. HUD
c. FHA
d. FDIC - correct answerb
14. A dominant estate is created by which encumbrance? a. easement by necessity
b. easement in gross
c. party wall
100% correct Answers Latest Updates
2025 GRADED A+
1. A home is assessed at 60 percent of its $680,000 value. Homes are taxed at a rate of .035. What is the
monthly tax bill? a. $1,190
b. $14,280
c. $23,800
d. $1,068 - correct answera
2. An agent's commission check was $6,500 which was 60% of the full amount. To the nearest dollar
how much did the broker keep? a. $13,000
b. $4,333
c. $10,833
d. $5,330 - correct answerb
3. An owner of a rental property calls her salesperson and asks her to keep certain minorities out of the
house. The salesperson should say:
a. "don't worry about a thing!"
b. "I know what you mean, who needs them!"
c. "I have no problem, you're the boss.
d. "I cannot help you if you persist. - correct answerd
4. An owner of a hair salon has a five year lease that is up for renewal. If the lease says nothing to the
contrary, the lessee: a. may remove all the trade fixtures she had installed and leave
after paying the final month's rent, but must inform the Landlord of her decision.
b. must give 30 days notice before she leaves.
,c. must give 3 months notice of her decision to leave. d. may remove all the trade fixtures she had
installed but what she doesn't take becomes the property of the Landlord. - correct answerd
5.A group of women sit down at a steak house restaurant. The server takes their order. What kind of
contract does this situation describe?
a. an express contract
b. an implied contract
c. a unilateral contract
d. a bilateral contract - correct answerb
6. "I will do this if you will do that," best describes:
a. an express contract
b. an implied contract
c. a unilateral contract
d. a bilateral contract - correct answerc
7. A deed before it is recorded must be:
a. signed by the grantee
b. accepted and delivered
c. acknowledged
d. held by a trustee - correct answerc
8. A deed in lieu of foreclosure means:
a. The owner gives the lender the deed in exchange for letting him walk away from the mortgage
commitment, avoiding future court costs. b. The owner will pay a deficiency judgment .
c. The mortgagee must sue for possession.
d. The owner sells the house short and the lender sues for the difference. - correct answera
9. As an artificial person a Corporation owns real property: a. In entirety
b. In severalty
, c. As a syndicate
d. As an escheat Corporation - correct answerb
10. When a mortgage loan is paid in full a clause in the loan contract stipulates that the bank shall
release its lien. This clause is called?
a. an estoppel
b. a reduction
c. a defeasance
d. a relief - correct answerc
11. A listing agreement creates an agency relationship between: a. seller & buyer
b. buyer & agent
c. agent & seller
d. agent & broker - correct answerc
12. A seller agrees to buy down an interest rate to make the loan affordable for the buyer. The seller
pays 3 points at closing on a loan of $224,000 for a house sale of $280,000. Which statement is true? a.
$2,224 is paid by seller
b. $6,720 is a credit to the seller
c. $6,720 is a debit to the seller
d. $6,720 is a debit to the buyer - correct answerc
13. The CFPB took over some of the duties of this federal agency? a. ECOA
b. HUD
c. FHA
d. FDIC - correct answerb
14. A dominant estate is created by which encumbrance? a. easement by necessity
b. easement in gross
c. party wall
