New Jersey Real Estate Salesperson Exam (New-Jersey-Real-Estate-Salesperson) Free Practice Test

Question 1

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. assume that the house is a "fixer-upper."

C. conclude that if the buyer later discovers defects that were not disclosed the listing agent is relieved of any responsibility.

D. question the seller as to any known defects.

Correct Answer: D

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Question 2

Which of the following is a radioactive odorless gas which may require mitigation?

A. asbestos

B. radon

C. carbon monoxide

D. formaldehyde

Correct Answer: B

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Question 3

A buyer is looking in several different cities for land to purchase for a shopping center. The buyer has decided to hire several real estate licensees, each representing the buyer in that licensee's city. Which type of agreement would protect the buyer from owing multiple commissions?

A. nonexclusive buyer-agency

B. exclusive right to sell

C. exclusive agency representation

D. nonexclusive right-to-lease

Correct Answer: A

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Question 4

A contract is delivered to the listing broker by a cooperating broker. The listing broker makes an appointment with the owner to present the offer at 7 p.m. of that day. Before 7 p.m., two more offers arrive on the same property. Which offer should be presented to the owner at the 7 p.m. appointment?

A. the first offer received

B. the offer most favorable to the seller, including price and all terms

C. all three of the offers

D. the offer with the highest sale price

Correct Answer: C

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Question 5

Under New Jersey Real Estate Commission rules, a licensee's obligations to the public include all of the following responsibilities EXCEPT:

A. disclosing material defects in a property to a prospective purchaser

B. protecting and promoting the interests of the licensee's principal when acting as an agent

C. dealing honestly with all parties

D. accepting any reasonable commission offered by a seller in the course of negotiating a listing agreement

Correct Answer: D

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Question 6

Evergreen bushes and apple trees on a property that were planted by the current owner are examples of:

A. personal property

B. trade fixtures

C. real estate

D. chattels

Correct Answer: C

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Question 7

A buyer wants to purchase a home for $400,000 with a 15% down payment. The lender charges 1.5 points.
How much money does the buyer need up front to make the purchase?

A. $65,100

B. $60,000

C. $60,900

D. $66,000

Correct Answer: A

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Question 8

Under the New Jersey Real Estate Sales Full Disclosure Act, the Act does NOT apply to a development project:

A. already approved by the Department of Commerce.

B. where the purchaser's total financial obligation is less than $5,000.

C. consisting of 10 units.

D. extending over a 5 year period only.

Correct Answer: B

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Question 9

Are electronic signatures enforceable on a real estate contract?

A. Yes, because they are allowed by the federal government.

B. Yes, because they are legal in real estate transactions.

C. No, because they must be signed and witnessed.

D. No, because they are only allowed on deeds.

Correct Answer: B

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Real Estate New Jersey Real Estate Salesperson (New-Jersey-Real-Estate-Salesperson) Free Practice Test