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Real Estate New Jersey Real Estate Salesperson Sample Questions:
1. A real estate broker's maintained place of business MUST conspicuously display on the exterior the broker's name and the word(s):
A) Realtor
B) Real Estate Broker
C) Licensed Realtor
D) Licensed Real Estate Broker
2. A buyer who is purchasing a property intends to build a chain link fence in the backyard. There is a 12-year- old deed restriction that prohibits chain link fences. The licensee finds out that there are no city codes prohibiting chain link fences. Which of the following statements regarding this situation is true?
A) Deed restrictions always take priority over city codes.
B) This deed restriction is more restrictive and will, therefore, take precedence.
C) This city code takes priority because deed restrictions expire 10 years after a subdivision is developed.
D) City code always takes priority over deed restrictions.
3. A seller places a property on the market for sale at a certain price. A buyer sees the property and makes a written offer to purchase that is 90% of the asking price. The seller rejects that offer, but will accept an offer of 95% of the original asking price. The buyer rejects that counteroffer. The original offer is:
A) irrevocable
B) binding
C) null and void
D) rescinded
4. A licensee listed a house for $187,500, and a dual agency does not exist. A buyer is willing to offer $184,000.
The licensee explains that the seller will take no less than $186,500. The buyer agrees to offer $186,500. Did the licensee act properly?
A) Yes, because the licensee persuaded the buyer to raise the price $2,500.
B) No, the licensee should have accepted the first offer and persuaded the seller to accept it.
C) No, the licensee should not have disclosed that the seller would accept less than the listing price.
D) Yes, to ensure acceptance of an offer, the licensee needed to disclose the lowest price the seller would accept.
5. Which of the following can hold escrow accounts?
A) lenders, brokers, and real estate commissions
B) banks, brokers, and attorneys
C) banks, salespersons, and title companies
D) salespersons, brokers, and lenders
Solutions:
Question # 1 Answer: D | Question # 2 Answer: B | Question # 3 Answer: C | Question # 4 Answer: C | Question # 5 Answer: B |

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