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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. In commercial property leasing, listing agents should ensure that the owner complies with:

A) their fiduciary responsibilities to the tenant
B) the Americans with Disabilities Act
C) state and federal Fair Housing laws
D) market lease rates

2. The common area of a condominium development is owned by:

A) any individuals who pay a prorated share of the taxes and maintenance.
B) its duly elected Board of Directors.
C) all owners as tenants in common.
D) those owners who were original owners of the units.

3. A lender whose mortgagor has defaulted may be offered a deed in lieu of foreclosure. If accepted, which of the following will be true?

A) The lender will take the title subject to any junior liens.
B) Because it is voluntary, it will not be an adverse item on the buyer's credit.
C) The lender will usually retain rights under mortgage insurance or VA guarantee.
D) The loan will still be assumable.

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

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

5. A real estate broker's maintained place of business MUST conspicuously display on the exterior the broker's name and the word(s):

A) Real Estate Broker
B) Licensed Real Estate Broker
C) Licensed Realtor
D) Realtor

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