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Real Estate New Jersey Real Estate Salesperson Sample Questions:

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

2. According to the New Jersey Law Against Discrimination, which of the following descriptions may be used in advertising properties in a townhome development?

A) Senior housing
B) Ethnic neighborhood
C) Close to synagogues and churches
D) Singles only

3. A licensee lists a property with the knowledge that a major highway is projected to be built within fifty feet of the property and is instructed by the owner not to disclose this fact to prospective purchasers. The licensee should:

A) advise the seller that unless disclosure is permitted the licensee must refuse the listing
B) service the listing and disclose the information to prospective purchasers without the owner's knowledge
C) service the listing and disclose this information only when asked by a prospective purchaser
D) comply with the owner's instructions to avoid a violation of his fiduciary obligations to the owner

4. A seller has entered into an exclusive right to sell agreement with a broker. The buyer presents the seller with an offer to purchase that is 20% less than the list price. Which of the following is appropriate?

A) The seller is under no obligation to accept the offer or make a counteroffer.
B) The seller has 72 hours to submit a counteroffer or else the offer is considered to be accepted.
C) The seller is obligated to pay the buyer a commission or the offer price if the seller rejects the offer.
D) The seller is obligated to make a counteroffer to the buyer if the offer is unacceptable.

5. A licensed broker may establish a commission rate at a predetermined amount that reflects the broker's general office policy provided the broker:

A) advises the New Jersey Consumer Affairs Division that the broker will not negotiate this commission rate
B) negotiates all commissions with sellers
C) advertises the commission rate at least once per month
D) has the percentage or fixed amount printed on all listing agreement forms

Solutions: