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

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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 property was listed for $110,000. It sold for $106,000. A 6.5% fee was split equally between the listing and selling real estate firms. The listing licensee received 55% of the listing office share. How much did the listing licensee receive?

A) $1,894.75
B) $1,966.25
C) $3,789.50
D) $3,575.00

2. The main purpose of a deed is to

A) provide documentation of legal possession.
B) guarantee clear title.
C) convey title.
D) record and acknowledge title transfer.

3. Broker P is the sole proprietor of XYZ Realty. P employs five salespersons, all of whom have been practicing real estate for at least two years. Under the license law, if P should die, which of the following actions can be taken?

A) All sales contracts can be declared null and void and all salespersons will lose their licenses until establishing employment with another broker.
B) A salesperson holding a real estate license for at least three years can apply for a temporary broker's license in order to continue the firm's activity.
C) The most experienced salesperson can act as broker for a maximum of six months until a permanent replacement broker is licensed.
D) The Real Estate Commission can direct an experienced broker with another firm to conclude all pending business.

4. When buyers move into their new house, they see that the ceiling fan in the dining room is gone. The ceiling fan was not mentioned in the offer to purchase. Did the sellers have the right to take the ceiling fan?

A) No, because it was a fixture in the house.
B) Yes, because it was not referenced in the contract.
C) Yes, because it was the sellers' personal property.
D) No, because it was chattel.

5. 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 heirs receive property.
D) when the buyer is using an FHA loan to purchase.

Solutions: