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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 the New Jersey Real Estate Sales Full Disclosure Act, the Act does NOT apply to a development project:

A) extending over a 5 year period only.
B) already approved by the Department of Commerce.
C) where the purchaser's total financial obligation is less than $5,000.
D) consisting of 10 units.

2. In advertisements of individual salespersons, which of the following is permitted?

A) Placing the real estate office sign on a personal residence.
B) Having the broker's name appear in smaller print than the salesperson's name in a newspaper ad.
C) Including reference to a home office.
D) Linking a personal real estate webpage to the salesperson's broker's website.

3. A couple secured a home mortgage loan from a lender who appraised the property at $92,500. If the loan-to- value ratio on the property was 85%, what was the minimum amount the couple needed for the down payment?

A) $7,862
B) $6,166
C) $10,882
D) $13,875

4. A seller refuses to honor a sales agreement. The buyer could seek specific performance, which is a legal request to:

A) receive monetary damages for losses suffered.
B) cancel all contractual obligations.
C) collect punitive damages from the seller.
D) force the seller to complete the sales agreement.

5. 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 obligated to pay the buyer a commission or the offer price if the seller rejects the offer.
B) The seller is obligated to make a counteroffer to the buyer if the offer is unacceptable.
C) The seller has 72 hours to submit a counteroffer or else the offer is considered to be accepted.
D) The seller is under no obligation to accept the offer or make a counteroffer.

Solutions: