Real Estate New Jersey Real Estate New-Jersey-Real-Estate-Salesperson

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Real Estate New Jersey Real Estate Salesperson Sample Questions:

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

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

2. An applicant for a real estate salesperson's license must apply for the issuance of the license within:

A) one year from the date of beginning the prelicensure education course
B) one year from the date of passing the state licensing examination
C) 30 days after accepting an offer of employment from a licensed real estate broker
D) one year from the date of completion of the prelicensure education course

3. A licensed broker may establish a commission rate at a predetermined amount that reflects the broker's general office policy provided the broker:

A) has the percentage or fixed amount printed on all listing agreement forms
B) advertises the commission rate at least once per month
C) negotiates all commissions with sellers
D) advises the New Jersey Consumer Affairs Division that the broker will not negotiate this commission rate

4. The Freshwater Wetlands Protection Act of 1987 is a New Jersey law that:

A) requires the registration of residential development projects with the New Jersey Department of Community Affairs
B) requires environmental impact statements to be filed with the New Jersey Department of Environmental Protection before title to developed real estate can be transferred
C) restricts development of real estate in certain designated areas
D) empowers the New Jersey Department of Environmental Protection to acquire title to certain real estate for less than its fair market value through condemnation

5. A buyer is looking in several different cities for land to purchase for a shopping center. The buyer has decided to hire several real estate licensees, each representing the buyer in that licensee's city. Which type of agreement would protect the buyer from owing multiple commissions?

A) exclusive agency representation
B) nonexclusive right-to-lease
C) exclusive right to sell
D) nonexclusive buyer-agency

Solutions: