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

Real Estate New Jersey Real Estate Salesperson Sample Questions:

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

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

2. A salesperson working with buyers secures an offer on a property. The offer calls for an initial deposit of
$1,000 to be held in escrow. The salesperson instructs the buyer to issue a personal check in that amount payable to the salesperson. This action is

A) prohibited, because checks for deposits to be held in escrow may only be payable to the broker's escrow account.
B) permissible, because the salesperson is acting as agent for the broker.
C) prohibited, because the salesperson accepted a personal check.
D) permissible if the salesperson immediately writes a check for the deposit amount payable to their broker's escrow account.

3. A seller is offering his property for sale in as-is condition. A buyer enters into a contract with the seller and has the home inspected. The inspection reveals a latent defect known to, but not disclosed by, the seller. The buyer:

A) can force the seller to correct the defect.
B) must go through with the purchase because the house is being sold as is.
C) can void the contract due to the seller's failure to disclose the latent defect.
D) can reduce the contract sales price by the cost of correcting the defect.

4. A broker maintains a real estate agency and terminated two salespersons. In this situation, the broker is REQUIRED to take all the following actions with regard to these two salespersons EXCEPT:

A) provide each with a written accounting of all monies due each salesperson.
B) pay any undisputed compensation due within ten days of the broker's receipt of such funds.
C) permit them to remove original sales or listing contracts from the broker's office.
D) abide by the post-termination compensation clause contained in their employment agreements or provide a written explanation for not doing so.

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

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

Solutions: