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

Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. Which of the following items would be prorated at closing with the credit going to the seller?

A) unearned rent collected in advance
B) earnest money
C) accrued interest on an assumed mortgage
D) prepaid property taxes

2. The Multiple Listing Service (MLS) board members decided that the population of each area of the city would be best served by the brokerages who have offices actually located within those areas. The board established boundaries dividing the city into six districts and voted to limit listings for each district to only those brokerages with offices within the district. Brokerages who tried to advertise beyond their own district would be prohibited from listing properties in the MLS. This action violates what Real Estate Law?

A) Civil Rights Act
B) Housing and Community Development Act of 1974
C) Sherman Anti-trust Act
D) Diversity Jurisdiction

3. The main purpose of a deed is to

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

4. The heir to a large estate will be of legal age within 30 days. The heir lists for sale with a broker one of the properties held by the estate. The broker knows of a buyer for the property and sells it within 24 hours of listing, with closing to be in 45 days. Both listing and sale contracts are:

A) voidable
B) executed
C) fulfilled
D) executory

5. A broker maintains a real estate agency and terminated two salespersons. In this situation, the broker is REQUIRED to take all the following actions with regard to these two salespersons EXCEPT:

A) pay any undisputed compensation due within ten days of the broker's receipt of such funds.
B) provide each with a written accounting of all monies due each salesperson.
C) abide by the post-termination compensation clause contained in their employment agreements or provide a written explanation for not doing so.
D) permit them to remove original sales or listing contracts from the broker's office.

Solutions: