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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. Under the New Jersey Real Estate Licensing Law, which of the following is an unlicensed assistant or secretary NOT permitted to do?

A) Type contracts for approval
B) Make telephone calls to request rent payments
C) Place signs on properties
D) Follow up on loan applications with lenders

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

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

3. A prospective buyer calls a licensed New Jersey salesperson to inquire about a property listed with that salesperson's brokerage. During the first substantive discussion about the property's price and terms, the salesperson must

A) provide the CIS at closing when all agency relationships are finalized.
B) wait until the buyer is ready to make an offer before presenting the CIS.
C) immediately provide the Consumer Information Statement (CIS).
D) only provide the CIS if the buyer asks for agency representation.

4. What is the difference between a license to use property and an easement?

A) A license can be cancelled by the issuer.
B) An easement can be cancelled by the issuer.
C) There must be consideration paid for a license.
D) There must be consideration paid for an easement.

5. If an owner wants to list a property for sale "as is," the listing agent should:

A) assume that the house is a "fixer-upper."
B) conclude that if the buyer later discovers defects that were not disclosed the listing agent is relieved of any responsibility.
C) assume that the owner will accept a relatively low price for the property.
D) question the seller as to any known defects.

Solutions: