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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. In advertisements of individual salespersons, which of the following is permitted?

A) Having the broker's name appear in smaller print than the salesperson's name in a newspaper ad.
B) Linking a personal real estate webpage to the salesperson's broker's website.
C) Including reference to a home office.
D) Placing the real estate office sign on a personal residence.

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

3. A married couple is planning to purchase a house that costs $86,000. If they obtain a 60% loan and the lender charges a 2.5% loan origination fee and 0.5 discount points, what is the cost of these expenses?

A) $2,580
B) $2,150
C) $1,290
D) $1,548

4. A seller has entered into an exclusive right to sell agreement with a broker. The buyer presents the seller with an offer to purchase that is 20% less than the list price. Which of the following is appropriate?

A) The seller is obligated to pay the buyer a commission or the offer price if the seller rejects the offer.
B) The seller is obligated to make a counteroffer to the buyer if the offer is unacceptable.
C) The seller is under no obligation to accept the offer or make a counteroffer.
D) The seller has 72 hours to submit a counteroffer or else the offer is considered to be accepted.

5. 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 offer most favorable to the seller, including price and all terms
B) all three of the offers
C) the offer with the highest sale price
D) the first offer received

Solutions: