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

Real Estate New Jersey Real Estate Salesperson Sample Questions:

Question 1

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. $1,320
C. $2,640
D. $1,980

Question 2

When MUST a listing broker provide a copy of a fully executed written listing agreement to the owner?

A. Upon execution of the listing agreement by all parties
B. Within three days of execution of the listing agreement by registered mail, return-receipt-requested
C. At the time of presentation of a written offer
D. Within five business days of execution of the listing agreement

Question 3

Under New Jersey Real Estate Commission rules, a licensee's obligations to the public include all of the following responsibilities EXCEPT:

A. protecting and promoting the interests of the licensee's principal when acting as an agent
B. disclosing material defects in a property to a prospective purchaser
C. accepting any reasonable commission offered by a seller in the course of negotiating a listing agreement
D. dealing honestly with all parties

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

Question 5

A licensee must provide disclosure of licensed status when acting as a principal if

A. the licensee has any economic interest in the property.
B. the licensee does not have errors and omission insurance.
C. any relative of the licensee has ever lived in the residence.
D. the agent of the other party asks about this specifically.

Solutions: