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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 Seller's Property Disclosure form states that there are no known material defects with the property, but the listing licensee is aware of asbestos wrapped duct pipes in the basement. The licensee should:

A) disclose the existence of asbestos to all potential buyers.
B) suggest the buyers have a home inspection and leave discovery up to the inspector.
C) suggest to the seller wrap the pipes to contain potential airborne contamination.
D) ask the seller's permission to disclose and abide by the seller's wishes.

2. An intoxicated buyer made an offer on a house. The owners accepted the offer. This contract is

A) void.
B) voidable.
C) unilateral.
D) illegal.

3. An appraisal made by a certified appraiser is required:

A) before any property settlement in a divorce.
B) before real property can transfer from one owner to another.
C) when the buyer is using an FHA loan to purchase.
D) when heirs receive property.

4. Two real estate firms shared equally a 6% commission on the sale of a house. The listing licensee was paid
60% of the broker's share. The house was sold for $110,000. How much did the listing agent earn?

A) $3,980
B) $1,980
C) $1,320
D) $2,640

5. Which of the following can hold escrow accounts?

A) lenders, brokers, and real estate commissions
B) salespersons, brokers, and lenders
C) banks, salespersons, and title companies
D) banks, brokers, and attorneys

Solutions: