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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 buyer-broker locates a property that is listed with another broker. The buyer makes an offer through the buyer-broker and an agreement of sale results. In this situation, the buyer-broker is acting as a:

A) representative of the buyer and owes no fiduciary obligations to the seller
B) referring broker with the listing broker
C) representative of the seller and owes no fiduciary obligations to the buyer
D) subagent of the listing broker

2. Limiting the neighborhoods in which a licensee shows houses because of a buyer's race is:

A) redlining
B) steering
C) puffing
D) blockbusting

3. 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) $3,200
C) $0
D) $4,000

4. The primary intent of the statute of frauds is to:

A) enforce oral agreements beyond 1 year.
B) protect licensees from fraudulent activity.
C) reduce real estate contracts to writing.
D) protect the rights of buyers who are disabled.

5. A licensee listed a house for $187,500, and a dual agency does not exist. A buyer is willing to offer $184,000.
The licensee explains that the seller will take no less than $186,500. The buyer agrees to offer $186,500. Did the licensee act properly?

A) Yes, to ensure acceptance of an offer, the licensee needed to disclose the lowest price the seller would accept.
B) No, the licensee should have accepted the first offer and persuaded the seller to accept it.
C) Yes, because the licensee persuaded the buyer to raise the price $2,500.
D) No, the licensee should not have disclosed that the seller would accept less than the listing price.

Solutions: