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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. Prospective buyers asked the licensee representing them if it would be a good idea to check the property they wish to purchase for radon. The licensee's best response would be to tell the buyers that:

A) as long as they are non-smokers, it should not be an issue.
B) they should do so, because radon is now considered to be one of the causes of lung cancer.
C) it is unlikely that radon would be a problem in that area.
D) they need not do so, because if radon were present, there would be an odor that would make it easy to detect.

2. A salesperson is selling a leased commercial property. What will happen to the lease after the sale is consummated?

A) The new owner has the option of canceling the lease or accepting the lease.
B) The lease is assigned to the new owner.
C) The lease expires and the tenant must move.
D) The tenant and the new owner must negotiate a new lease.

3. According to the New Jersey Real Estate Time Share Act, if a licensee is selling a timeshare located within the state of New Jersey, all of the following are true EXCEPT that the:

A) licensee must provide the buyer with a copy of the Public Offering Statement.
B) licensee must hold a timeshare sales license.
C) timeshare must be approved by the Real Estate Commission.
D) contract of sale must provide notice of a seven calendar day rescission period.

4. Two parcels of land priced at $2,100 per acre were purchased. One parcel was 5 acres in size, and the other was 1 square mile in size. How much should these two parcels have cost together?

A) $766,000
B) $1,354,500
C) $914,760
D) $1,060,500

5. A small broker committee in the local county has set up a new marketing idea. They will give every seller the same commission rate and it will not be negotiable. This will allow the consumers to know exactly what it will cost to list a property. This marketing plan is an example of:

A) market allocation
B) apostille
C) consumer protection
D) price-fixing

Solutions: