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

2. A low loan-to-value ratio indicates a:

A) greater risk of foreclosure.
B) greater use of leverage.
C) higher equity in the property.
D) lower equity in the property.

3. A national company desires a parcel of land which must be 4 times the size of its proposed building. If the building design includes 20,000 square feet, then which of the following minimum sized lots should be purchased?

A) 1 acre
B) 2 acres
C) 4 acres
D) 8 acres

4. Which of the following statements correctly describes a standard feature of a buyer-agency agreement?

A) The source of compensation determines the agency relationship.
B) It establishes a fiduciary relationship with the buyer.
C) A buyer-agency agreement is an option rather than an employment contract.
D) A retainer fee is normally paid at the time the agreement is signed.

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

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

Solutions: