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

Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. Which of the following can hold escrow accounts?

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

2. The Freshwater Wetlands Protection Act of 1987 is a New Jersey law that:

A) requires the registration of residential development projects with the New Jersey Department of Community Affairs
B) requires environmental impact statements to be filed with the New Jersey Department of Environmental Protection before title to developed real estate can be transferred
C) empowers the New Jersey Department of Environmental Protection to acquire title to certain real estate for less than its fair market value through condemnation
D) restricts development of real estate in certain designated areas

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

4. A salesperson is convicted of a crime which involved activities as a real estate licensee. The Commission obtains a certified copy of the judgment of conviction against the salesperson. According to the New Jersey Real Estate License Law, the Commission MUST:

A) suspend the salesperson's license
B) determine, at its discretion, what disciplinary action to take against the salesperson
C) notify the salesperson's employing broker of the circumstances pertaining to the conviction
D) revoke the salesperson's license

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

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

Solutions: