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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A client is considering listing an industrially zoned 10-acre site. It has been vacant for several years, and was formerly used as an automobile junkyard. What would a responsible real estate licensee recommend the seller consider obtaining prior to putting the property on the market?

A) an electromagnetic field determination
B) an environmental site assessment
C) an air quality report from the Environmental Protection Agency
D) a radon measurement analysis

2. Under the New Jersey Real Estate Licensing Law, which of the following is an unlicensed assistant or secretary NOT permitted to do?

A) Place signs on properties
B) Follow up on loan applications with lenders
C) Type contracts for approval
D) Make telephone calls to request rent payments

3. A CORRECT statement about transaction brokers is that they:

A) represent neither the buyer nor the seller
B) may conduct transactions without an active real estate license
C) represent both the buyer and the seller
D) are required to disclose confidential information

4. A seller places a property on the market for sale at a certain price. A buyer sees the property and makes a written offer to purchase that is 90% of the asking price. The seller rejects that offer, but will accept an offer of 95% of the original asking price. The buyer rejects that counteroffer. The original offer is:

A) irrevocable
B) binding
C) rescinded
D) null and void

5. New Jersey Real Estate Commission regulations require a licensee to terminate membership in a real estate board or multiple listing service whenever the organization:

A) charges dues that the licensee feels are excessive
B) advocates rules, practices, and/or standards with which the licensee does not agree
C) lobbies against legislation that the licensee personally favors
D) suggests uniform commission rates among all member brokers

Solutions: