Real Estate New Jersey Real Estate New-Jersey-Real-Estate-Salesperson

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

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

2. According to the New Jersey Real Estate Time Share Act, if a licensee is selling a timeshare located within the state of New Jersey, all of the following are true EXCEPT that the:

A) licensee must hold a timeshare sales license.
B) licensee must provide the buyer with a copy of the Public Offering Statement.
C) contract of sale must provide notice of a seven calendar day rescission period.
D) timeshare must be approved by the Real Estate Commission.

3. A buyer and broker enter into a 3-month exclusive buyer agency agreement. With regard to the broker's right to be compensated and to work with other clients, this means that during the term of this agreement, the broker

A) is only due compensation if the buyer purchases one of the broker's listings.
B) is entitled to compensation even if the buyer purchases a property that they locate.
C) may not show a property to other buyers until the buyer decides if they want to make an offer.
D) must be compensated by the seller.

4. An appraisal made by a certified appraiser is required:

A) when heirs receive property.
B) when the buyer is using an FHA loan to purchase.
C) before any property settlement in a divorce.
D) before real property can transfer from one owner to another.

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

Solutions: