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Real Estate New Jersey Real Estate Salesperson Sample Questions:

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

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

2. The Multiple Listing Service (MLS) board members decided that the population of each area of the city would be best served by the brokerages who have offices actually located within those areas. The board established boundaries dividing the city into six districts and voted to limit listings for each district to only those brokerages with offices within the district. Brokerages who tried to advertise beyond their own district would be prohibited from listing properties in the MLS. This action violates what Real Estate Law?

A) Diversity Jurisdiction
B) Sherman Anti-trust Act
C) Civil Rights Act
D) Housing and Community Development Act of 1974

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

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

4. If a salesperson or broker-salesperson maintains a webpage that is not linked to the webpage of their broker, the licensee's webpage must display the name of the broker as well as the

A) address of the broker's main office.
B) broker's email address.
C) broker's telephone number.
D) address of the branch office from which the licensee operates.

5. A private integrated club refused to rent one of its condos to a minority family. The club explained that it did not rent the condos to the public since the condos were for members only. Is the club in violation of the federal Fair Housing Act, and if so, how?

A) Yes, because when race is involved, no exceptions to the federal Fair Housing Act exist.
B) Yes, because the club had minority members, and therefore was not eligible for exemptions from the federal Fair Housing Act.
C) No, because a private club may restrict the rental of its own lodgings to its members as long as the lodgings are not operated commercially.
D) No, because as an integrated club, they could discriminate on the basis of race in renting facilities.

Solutions: