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Real Estate New-Jersey-Real-Estate-Salesperson Exam Syllabus Topics:

Real Estate New Jersey Real Estate Salesperson Sample Questions:

Question 1

A purchase money note need NOT contain the:

A. time and method of payment.
B. principal amount of the loan.
C. rate of interest.
D. loan-to-value ratio.

Question 2

A tenant has a commercial lease that requires that the tenant pay taxes, insurance, maintenance, and parking lot repairs. What kind of lease does the tenant have?

A. percentage
B. ground
C. gross
D. net

Question 3

A salesperson is convicted of a crime which involved activities as a real estate licensee. The Commission obtains a certified copy of the judgment of conviction against the salesperson. According to the New Jersey Real Estate License Law, the Commission MUST:

A. revoke the salesperson's license
B. notify the salesperson's employing broker of the circumstances pertaining to the conviction
C. suspend the salesperson's license
D. determine, at its discretion, what disciplinary action to take against the salesperson

Question 4

If an owner wants to list a property for sale "as is," the listing agent should:

A. conclude that if the buyer later discovers defects that were not disclosed the listing agent is relieved of any responsibility.
B. assume that the house is a "fixer-upper."
C. assume that the owner will accept a relatively low price for the property.
D. question the seller as to any known defects.

Question 5

Which of the following statements correctly describes a standard feature of a buyer-agency agreement?

A. A buyer-agency agreement is an option rather than an employment contract.
B. The source of compensation determines the agency relationship.
C. It establishes a fiduciary relationship with the buyer.
D. A retainer fee is normally paid at the time the agreement is signed.

Solutions: