Real Estate New Jersey Real Estate Salesperson - New-Jersey-Real-Estate-Salesperson

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

Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. In surveying, monuments are used to establish:

A) a common address
B) real estate boundaries
C) flood elevation
D) historical sites

2. A seller has listed a home with a broker for $112,000. The seller is leaving for a 45-day cruise midway through the listing period and authorizes the broker through a limited power of attorney to accept any offer of all cash at a price of $108,000 or more pending his return. The broker receives an offer for $110,000 all cash.
The broker

A) may sign a deed of conveyance if the seller does not return on time.
B) may not accept the offer until the seller returns.
C) may accept the offer.
D) must forward the offer to the seller's attorney for consideration.

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

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

4. A listing agent presents a signed offer to a seller who then changes the amount of the down payment. Before presenting the counteroffer to the buyer, the New Jersey Real Estate License Law requires the listing agent to

A) secure the seller's initials confirming the revision.
B) obtain the consent of the listing broker.
C) prepare a separate addendum that reflects the revision.
D) verbally inform any buyer's agent of the proposed revision.

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

Solutions: