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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 seller has listed a home with a broker for $112,000. The seller is leaving for a 45-day cruise midway through the listing period and authorizes the broker through a limited power of attorney to accept any offer of all cash at a price of $108,000 or more pending his return. The broker receives an offer for $110,000 all cash.
The broker

A. must forward the offer to the seller's attorney for consideration.
B. may sign a deed of conveyance if the seller does not return on time.
C. may accept the offer.
D. may not accept the offer until the seller returns.

Question 2

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.

Question 3

Prospective buyers for a house want to operate a recycling center in their backyard. Local zoning laws do not allow this. What do they need to do first?

A. Obtain a variance or special exception.
B. File an appeal with the local court.
C. Obtain a modification to the local master plan.
D. Obtain a building permit.

Question 4

A Seller's Property Disclosure form states that there are no known material defects with the property, but the listing licensee is aware of asbestos wrapped duct pipes in the basement. The licensee should:

A. suggest the buyers have a home inspection and leave discovery up to the inspector.
B. suggest to the seller wrap the pipes to contain potential airborne contamination.
C. disclose the existence of asbestos to all potential buyers.
D. ask the seller's permission to disclose and abide by the seller's wishes.

Question 5

In a jurisdiction where the common law of agency applies, a broker has listed a home and then presented to the seller an offer from another client of the broker. The offer has been accepted. The broker has what type of agency relationship with the parties?

A. seller agency, buyer sub-agency
B. dual agency
C. no agency relationship; in this situation the broker becomes a facilitator only
D. seller agency, no agency relationship with buyer

Solutions: