Real Estate : New-Jersey-Real-Estate-Salesperson Questions & Answers

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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 listing agent presents a signed offer to a seller who then changes the amount of the down payment. Before presenting the counteroffer to the buyer, the New Jersey Real Estate License Law requires the listing agent to

A) verbally inform any buyer's agent of the proposed revision.
B) prepare a separate addendum that reflects the revision.
C) obtain the consent of the listing broker.
D) secure the seller's initials confirming the revision.

2. A home sold for $400,000. It was appraised for $402,000, and the assessed value was $320,000. Assume in this situation, the real estate transfer tax of 1% is paid by the grantee. How much will the seller owe at closing for transfer fees?

A) $4,020
B) $0
C) $3,200
D) $4,000

3. New Jersey Real Estate Commission regulations require a licensee to terminate membership in a real estate board or multiple listing service whenever the organization:

A) advocates rules, practices, and/or standards with which the licensee does not agree
B) suggests uniform commission rates among all member brokers
C) lobbies against legislation that the licensee personally favors
D) charges dues that the licensee feels are excessive

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) question the seller as to any known defects.
C) assume that the owner will accept a relatively low price for the property.
D) assume that the house is a "fixer-upper."

5. 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) gross
B) ground
C) percentage
D) net

Solutions: