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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. If an owner wants to list a property for sale "as is," the listing agent should:

A) question the seller as to any known defects.
B) assume that the house is a "fixer-upper."
C) assume that the owner will accept a relatively low price for the property.
D) conclude that if the buyer later discovers defects that were not disclosed the listing agent is relieved of any responsibility.

2. Written offers to purchase real estate in New Jersey must be presented to sellers within:

A) 24 hours
B) 3 days
C) 48 hours
D) 5 days

3. A small broker committee in the local county has set up a new marketing idea. They will give every seller the same commission rate and it will not be negotiable. This will allow the consumers to know exactly what it will cost to list a property. This marketing plan is an example of:

A) apostille
B) price-fixing
C) market allocation
D) consumer protection

4. Which of the following can hold escrow accounts?

A) banks, salespersons, and title companies
B) salespersons, brokers, and lenders
C) lenders, brokers, and real estate commissions
D) banks, brokers, and attorneys

5. Under New Jersey Real Estate Commission rules, a licensee's obligations to the public include all of the following responsibilities EXCEPT:

A) disclosing material defects in a property to a prospective purchaser
B) accepting any reasonable commission offered by a seller in the course of negotiating a listing agreement
C) protecting and promoting the interests of the licensee's principal when acting as an agent
D) dealing honestly with all parties

Solutions: