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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A broker is offering a $100 gift certificate at a jewelry store to all sellers who list with the broker during a specified time period. According to the New Jersey Real Estate License Law, such a promotion is prohibited because it:

A) offers compensation for brokerage activity to unlicensed persons
B) discriminates against sellers who do not list with the broker during the specified time period
C) makes the receipt of the free offering contingent upon sellers listing their properties with the broker
D) discriminates against sellers whose religion prohibits the wearing of jewelry

2. An intoxicated buyer made an offer on a house. The owners accepted the offer. This contract is

A) voidable.
B) illegal.
C) unilateral.
D) void.

3. When MUST a listing broker provide a copy of a fully executed written listing agreement to the owner?

A) Within five business days of execution of the listing agreement
B) Within three days of execution of the listing agreement by registered mail, return-receipt-requested
C) At the time of presentation of a written offer
D) Upon execution of the listing agreement by all parties

4. A seller places a property on the market for sale at a certain price. A buyer sees the property and makes a written offer to purchase that is 90% of the asking price. The seller rejects that offer, but will accept an offer of 95% of the original asking price. The buyer rejects that counteroffer. The original offer is:

A) binding
B) rescinded
C) irrevocable
D) null and void

5. To avoid triggering full disclosure under TILA when advertising financing availability on a listed property, which of the following statements must a real estate licensee avoid using?

A) FHA and VA financing available
B) assumable loan
C) buy for less than $650 per month
D) owner willing to finance

Solutions: