Real Estate New Jersey Real Estate Salesperson : New-Jersey-Real-Estate-Salesperson

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Real Estate New-Jersey-Real-Estate-Salesperson Exam Syllabus Topics:

Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A licensee must provide disclosure of licensed status when acting as a principal if

A) the licensee does not have errors and omission insurance.
B) the licensee has any economic interest in the property.
C) any relative of the licensee has ever lived in the residence.
D) the agent of the other party asks about this specifically.

2. A married couple is purchasing a home. They ask the salesperson to advise them regarding the best way to take title. The salesperson should

A) advise them to take title as tenants by the entirety.
B) decline to advise them and suggest that they consult an attorney.
C) explain the possible types of joint ownership so they understand the options.
D) ask a broker to make a recommendation.

3. The heir to a large estate will be of legal age within 30 days. The heir lists for sale with a broker one of the properties held by the estate. The broker knows of a buyer for the property and sells it within 24 hours of listing, with closing to be in 45 days. Both listing and sale contracts are:

A) voidable
B) executory
C) executed
D) fulfilled

4. New Jersey Real Estate Commission regulations require a licensee to terminate membership in a real estate board or multiple listing service whenever the organization:

A) charges dues that the licensee feels are excessive
B) suggests uniform commission rates among all member brokers
C) lobbies against legislation that the licensee personally favors
D) advocates rules, practices, and/or standards with which the licensee does not agree

5. Which of the following best describes the Housing for Older Persons Act?

A) It requires that 55-and-older housing have significant facilities and services designed for seniors.
B) It allows the awarding of monetary damages against those who believed that property designated as housing for older persons was exempt.
C) It requires that at least 80% of occupied units have one person age 55 or older living there.
D) It allows grandparents with grandchildren to be exempt from the provisions of the Act.

Solutions: