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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A seller has entered into an exclusive right to sell agreement with a broker. The buyer presents the seller with an offer to purchase that is 20% less than the list price. Which of the following is appropriate?

A) The seller is under no obligation to accept the offer or make a counteroffer.
B) The seller is obligated to make a counteroffer to the buyer if the offer is unacceptable.
C) The seller has 72 hours to submit a counteroffer or else the offer is considered to be accepted.
D) The seller is obligated to pay the buyer a commission or the offer price if the seller rejects the offer.

2. In commercial property leasing, listing agents should ensure that the owner complies with:

A) state and federal Fair Housing laws
B) the Americans with Disabilities Act
C) market lease rates
D) their fiduciary responsibilities to the tenant

3. After announcing that a new city park will soon be developed, homes in the immediate area experience a rise in value. This is an example of which of the following principles of value?

A) contribution
B) anticipation
C) change
D) highest and best use

4. The local gas company has a 10-foot easement along the rear of a residential lot. This is best known as an easement:

A) by prescription
B) appurtenant
C) in gross
D) by necessity

5. According to the New Jersey Law Against Discrimination, which of the following descriptions may be used in advertising properties in a townhome development?

A) Ethnic neighborhood
B) Senior housing
C) Close to synagogues and churches
D) Singles only

Solutions: