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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 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 is obligated to pay the buyer a commission or the offer price if the seller rejects the offer.
C) The seller has 72 hours to submit a counteroffer or else the offer is considered to be accepted.
D) The seller is obligated to make a counteroffer to the buyer if the offer is unacceptable.

2. Which of the following statements in an advertisement would be an example of non-discriminatory language under HUD's Fair Housing Advertising Guidelines?

A) apartment available. No pets or children allowed
B) nice home ideal for any family with children
C) female seeking female roommate
D) located within walking distance to a great Catholic school

3. A deposit check from a buyer paid upon the submission of an offer may be held without being deposited into the broker's escrow account:

A) until all inspections required by the contract have been performed
B) for no more than five business days after the termination of the attorney review period
C) until negotiations are concluded and the seller has accepted the offer
D) for no more than five business days after receipt of the money

4. A prospective buyer calls a licensed New Jersey salesperson to inquire about a property listed with that salesperson's brokerage. During the first substantive discussion about the property's price and terms, the salesperson must

A) immediately provide the Consumer Information Statement (CIS).
B) provide the CIS at closing when all agency relationships are finalized.
C) wait until the buyer is ready to make an offer before presenting the CIS.
D) only provide the CIS if the buyer asks for agency representation.

5. A low loan-to-value ratio indicates a:

A) lower equity in the property.
B) greater use of leverage.
C) higher equity in the property.
D) greater risk of foreclosure.

Solutions: