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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A subordination agreement is used to:

A) initiate foreclosure proceedings.
B) pledge property for a loan without giving up possession.
C) assign rents to the lender in case of borrower default.
D) change the priority of mortgages.

2. As required by the New Jersey Real Estate Sales Full Disclosure Act, before signing any contract for the purchase or lease of a property registered with the New Jersey Real Estate Commission, the purchaser or lessee MUST be provided with a copy of the:

A) deed or other instrument establishing title in the name of the developer
B) New Jersey Public Offering Statement approved by the Commission
C) Statement of Record filed by the developer with the Commission
D) filed plat map identifying the location of the property being bought or leased

3. A contract is delivered to the listing broker by a cooperating broker. The listing broker makes an appointment with the owner to present the offer at 7 p.m. of that day. Before 7 p.m., two more offers arrive on the same property. Which offer should be presented to the owner at the 7 p.m. appointment?

A) the offer with the highest sale price
B) the offer most favorable to the seller, including price and all terms
C) all three of the offers
D) the first offer received

4. A licensee faxes a list of available properties to prospective buyers. Which of the following is true?

A) The fax must contain an opt-out provision for future communications.
B) The licensee's company's name does not need to be listed.
C) The licensee must mail an identical list to all parties.
D) The licensee must include only a phone number to reply.

5. The primary intent of the statute of frauds is to:

A) protect licensees from fraudulent activity.
B) enforce oral agreements beyond 1 year.
C) protect the rights of buyers who are disabled.
D) reduce real estate contracts to writing.

Solutions: