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New Jersey Real Real Estate Exam Questions

Which of the following statements would most likely be considered mere “puffing”?

A. This area is expected to increase in value by 25% within the next year.
B. This lot has the most beautiful view of the lake.
C. Children from this neighborhood have the highest SAT scores.
D. The utility costs in this home are lower than in any other home in the neighborhood.

A buyer wants to purchase a home for $400,000 with a 15% down payment. The lender charges 1.5 points. How much money does the buyer need up front to make the purchase?

A. $60,000
B. $66,000
C. $60,900
D. $65,100

Which of the following analyses must be prepared by a certified appraiser?

A. a competitive market analysis for a buyer or seller
B. a price opinion for a lender involved with a short sale transaction
C. an analysis to determine a project’s estimated market capture and capitalization rate
D. a property valuation report supporting a federally-related loan application