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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A buyer is looking in several different cities for land to purchase for a shopping center. The buyer has decided to hire several real estate licensees, each representing the buyer in that licensee's city. Which type of agreement would protect the buyer from owing multiple commissions?

A) exclusive agency representation
B) exclusive right to sell
C) nonexclusive right-to-lease
D) nonexclusive buyer-agency

2. Two parcels of land priced at $2,100 per acre were purchased. One parcel was 5 acres in size, and the other was 1 square mile in size. How much should these two parcels have cost together?

A) $766,000
B) $914,760
C) $1,354,500
D) $1,060,500

3. In commercial property leasing, listing agents should ensure that the owner complies with:

A) market lease rates
B) state and federal Fair Housing laws
C) the Americans with Disabilities Act
D) their fiduciary responsibilities to the tenant

4. According to the Real Estate Licensing Law, a real estate licensee can provide a rebate of the commission to a buyer

A) if notated on the contract of sale.
B) if a writing confirming the terms of the rebate is provided to the buyer at closing.
C) if the licensee is the broker.
D) provided it does not exceed 50% of the total commission.

5. An applicant for a real estate salesperson's license must apply for the issuance of the license within:

A) one year from the date of completion of the prelicensure education course
B) 30 days after accepting an offer of employment from a licensed real estate broker
C) one year from the date of beginning the prelicensure education course
D) one year from the date of passing the state licensing examination

Solutions: