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

Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. 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

A) prohibited, because checks for deposits to be held in escrow may only be payable to the broker's escrow account.
B) permissible, because the salesperson is acting as agent for the broker.
C) prohibited, because the salesperson accepted a personal check.
D) permissible if the salesperson immediately writes a check for the deposit amount payable to their broker's escrow account.

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

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

3. Which action would be allowed according to the Federal Fair Housing law?

A) A lender receives notice that a loan application submitted on behalf of a client has been denied. The lender knew the borrower was well qualified, but is told that area is off limits for new loans because of its crime rate.
B) Broker A meets a new Hispanic buyer client. Broker B just sold a handful of condos to other Hispanic buyers in the Kentwood neighborhood, so broker A suggests the new buyer might be comfortable in that neighborhood.
C) A landlord receives a rental application from a prospective tenant, who came from Russia a few years ago to attend the local university. The lender denies the rental application after asking for the prospective tenant's visa and determines that it expires in 3 months.
D) A broker informs a potential seller that there is an influx of immigrants snatching up rentals in the neighborhood, so this would be a good time to sell.

4. A buyer's agent is NOT permitted to tell a buyer that:

A) the roof leaked recently but was patched by the owner
B) the seller is willing to accept less than the listing price because of financial circumstances
C) the property was the scene of a serious crime
D) a former occupant of a property had AIDS

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

Solutions: