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Guide for New-Jersey-Real-Estate-Salesperson: Real Estate Licensing New Jersey Real Estate Salesperson

Quiz New-Jersey-Real-Estate-Salesperson: Real Estate Licensing New Jersey Real Estate Salesperson

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/ 10

Quiz

1/10
A salesperson working with buyers secures an offer on a property. The offer calls for an initial deposit
of $1,000 to be held in escrow. The salesperson instructs the buyer to issue a personal check in that
amount payable to the salesperson. This action is
Select the answer
1 correct answer
A.
prohibited, because the salesperson accepted a personal check.
B.
permissible, because the salesperson is acting as agent for the broker.
C.
prohibited, because checks for deposits to be held in escrow may only be payable to the broker’s escrow account.
D.
permissible if the salesperson immediately writes a check for the deposit amount payable to their broker's escrow account.

Quiz

2/10
A licensee must provide disclosure of licensed status when acting as a principal if
Select the answer
1 correct answer
A.
the agent of the other party asks about this specifically.
B.
the licensee does not have errors and omission insurance.
C.
the licensee has any economic interest in the property.
D.
any relative of the licensee has ever lived in the residence.

Quiz

3/10
A contract of sale prepared by a licensee MUST include an attorney review clause if it pertains to
which of the following types of properties?
Select the answer
1 correct answer
A.
Six-family dwelling unit, a portion of which is used for non-residential purposes
B.
Commercial building that does not exceed 10,000 square feet
C.
Subdivision of fifteen or more lots
D.
Single family residential vacant lot

Quiz

4/10
A salesperson is selling a leased commercial property. What will happen to the lease after the sale is
consummated?
Select the answer
1 correct answer
A.
The lease is assigned to the new owner.
B.
The lease expires and the tenant must move.
C.
The tenant and the new owner must negotiate a new lease.
D.
The new owner has the option of canceling the lease or accepting the lease.

Quiz

5/10
A broker who charges or collects an advance fee in excess of $25 for services to be rendered MUST:
Select the answer
1 correct answer
A.
deduct the amount collected from the commission or settlement
B.
give the principal receipts for all expenditures
C.
furnish within ninety days of its collection an accounting of how the money was used
D.
retain the difference between the amount of money collected and the amount spent

Quiz

6/10
A public utility company is installing power lines across several counties. Will the utility company be
more likely to be granted an easement appurtenant or an easement in gross?
Select the answer
1 correct answer
A.
easement appurtenant because it cannot run with the land
B.
easement appurtenant because it cannot be extinguished by merger of the dominant and servient tenements
C.
easement in gross because it does not require ownership of real property adjacent to the property that is subject to the easement
D.
easement in gross because it allows the holder of the easement to eventually gain title to the encumbered property

Quiz

7/10
Which of the following is a radioactive odorless gas which may require mitigation?
Select the answer
1 correct answer
A.
radon
B.
asbestos
C.
formaldehyde
D.
carbon monoxide

Quiz

8/10
If a salesperson or broker-salesperson maintains a webpage that is not linked to the webpage of their
broker, the licensee’s webpage must display the name of the broker as well as the
Select the answer
1 correct answer
A.
broker's email address.
B.
broker's telephone number.
C.
address of the broker's main office.
D.
address of the branch office from which the licensee operates.

Quiz

9/10
A landlord may require that a disabled tenant
Select the answer
1 correct answer
A.
pay double the usual $500 security deposit.
B.
pay an additional fee for using the swimming pool to cover the added insurance cost.
C.
remove the wheelchair ramp from the apartment upon vacating the unit.
D.
not install grab bars in the tile shower if drilling holes in the tile is required.

Quiz

10/10
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
Select the answer
1 correct answer
A.
must be compensated by the seller.
B.
is only due compensation if the buyer purchases one of the broker's listings.
C.
is entitled to compensation even if the buyer purchases a property that they locate.
D.
may not show a property to other buyers until the buyer decides if they want to make an offer.
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  • Quiz name:New-Jersey-Real-Estate-Salesperson: Real Estate Licensing New Jersey Real Estate Salesperson
  • Total number of questions:120
  • Number of questions for the test:50
  • Pass score:80%

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