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

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

2. Rules for Truth in Lending and RESPA call for disclosure documents to borrowers. How can a managing broker best prepare associated licensees to manage these disclosures?

A) The managing broker should train licensees to advise borrowers to accept the Loan Estimate right away.
B) Because the lender has primary responsibility to provide these forms, the broker and licensees should be aware of the items required for the lender to comply.
C) The buyer's broker can provide samples so that when the licensee and the borrower prepare the forms they are following a good example.
D) Because the listing broker will be primarily responsible for completing the Loan Estimate to send to the lender, the broker should train associated licensees to collect all the necessary information in a timely fashion.

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

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

4. A salesperson is selling a leased commercial property. What will happen to the lease after the sale is consummated?

A) The new owner has the option of canceling the lease or accepting the lease.
B) The tenant and the new owner must negotiate a new lease.
C) The lease expires and the tenant must move.
D) The lease is assigned to the new owner.

5. A deposit check from a buyer paid upon the submission of an offer may be held without being deposited into the broker's escrow account:

A) for no more than five business days after the termination of the attorney review period
B) for no more than five business days after receipt of the money
C) until negotiations are concluded and the seller has accepted the offer
D) until all inspections required by the contract have been performed

Solutions: