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Real Estate New Jersey Real Estate Salesperson Sample Questions:

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

2. 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

3. A broker may legally refuse to accept a listing:

A) only if the owner's instructions are illegal.
B) under no circumstances; all owners are entitled to professional representation in the sale of their property.
C) at any time, for any legitimate reason.
D) only if the seller cannot give clear title to the property.

4. A buyer and broker enter into a 3-month exclusive buyer agency agreement. With regard to the broker's right to be compensated and to work with other clients, this means that during the term of this agreement, the broker

A) is only due compensation if the buyer purchases one of the broker's listings.
B) may not show a property to other buyers until the buyer decides if they want to make an offer.
C) must be compensated by the seller.
D) is entitled to compensation even if the buyer purchases a property that they locate.

5. A licensee faxes a list of available properties to prospective buyers. Which of the following is true?

A) The licensee's company's name does not need to be listed.
B) The licensee must mail an identical list to all parties.
C) The licensee must include only a phone number to reply.
D) The fax must contain an opt-out provision for future communications.

Solutions: