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

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

2. Which of the following differentiates a bilateral contract from a unilateral contract?

A) number of parties involved
B) performance obligations of the parties
C) relative value of the object of the contract
D) type of property specified in the contract

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

4. Which of the following statements about branch offices is INCORRECT?

A) A licensed broker-salesperson must supervise the office on a full-time basis.
B) The name of the branch office supervisor must be recorded with the commission.
C) The employing broker is ultimately responsible for all licensees employed at the branch office.
D) Two salespersons may be designated to share supervising responsibilities.

5. Which of the following is least likely to be considered in establishing the value of a property by the sales comparison approach?

A) the square footage of the building
B) the capitalization rate
C) the size of the lot
D) the date of sale

Solutions: