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Real Estate New-Jersey-Real-Estate-Salesperson Exam Syllabus Topics:

Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. 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) dealing honestly with all parties
C) protecting and promoting the interests of the licensee's principal when acting as an agent
D) accepting any reasonable commission offered by a seller in the course of negotiating a listing agreement

2. Last year, an apartment building had a net operating income of $174,000. If a potential buyer is looking for a capitalization rate of 8%, how much should the buyer be willing to pay for the building?

A) $139,200
B) $174,000
C) $1,392,000
D) $2,175,000

3. A salesperson working with buyers secures an offer on a property. The offer calls for an initial deposit of
$1,000 to be held in escrow. The salesperson instructs the buyer to issue a personal check in that amount payable to the salesperson. This action is

A) permissible if the salesperson immediately writes a check for the deposit amount payable to their broker's escrow account.
B) prohibited, because checks for deposits to be held in escrow may only be payable to the broker's escrow account.
C) prohibited, because the salesperson accepted a personal check.
D) permissible, because the salesperson is acting as agent for the broker.

4. A deposit check from a buyer paid upon the submission of an offer may be held without being deposited into the broker's escrow account:

A) until negotiations are concluded and the seller has accepted the offer
B) for no more than five business days after the termination of the attorney review period
C) until all inspections required by the contract have been performed
D) for no more than five business days after receipt of the money

5. A tenant has an option to purchase leased property. The price that the tenant will pay for the property is determined by the:

A) tenant, when the option is exercised.
B) agreement, when the option is exercised.
C) property's market value at the time of exercising the option.
D) terms specified in the option.

Solutions: