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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. When MUST a listing broker provide a copy of a fully executed written listing agreement to the owner?

A) Upon execution of the listing agreement by all parties
B) Within five business days of execution of the listing agreement
C) At the time of presentation of a written offer
D) Within three days of execution of the listing agreement by registered mail, return-receipt-requested

2. Under the New Jersey Real Estate Sales Full Disclosure Act, the Act does NOT apply to a development project:

A) extending over a 5 year period only.
B) where the purchaser's total financial obligation is less than $5,000.
C) already approved by the Department of Commerce.
D) consisting of 10 units.

3. A tenant has a commercial lease that requires that the tenant pay taxes, insurance, maintenance, and parking lot repairs. What kind of lease does the tenant have?

A) percentage
B) ground
C) net
D) gross

4. According to the New Jersey Real Estate Time Share Act, if a licensee is selling a timeshare located within the state of New Jersey, all of the following are true EXCEPT that the:

A) timeshare must be approved by the Real Estate Commission.
B) contract of sale must provide notice of a seven calendar day rescission period.
C) licensee must hold a timeshare sales license.
D) licensee must provide the buyer with a copy of the Public Offering Statement.

5. Which of the following actions is NOT a cause for suspension or revocation of a New Jersey real estate license?

A) collecting a commission as a broker from both parties to a transaction while representing both parties as their agent
B) delivering a consumer information statement to a seller after having made a listing presentation
C) payment of a referral fee by a licensed New Jersey broker to a broker licensed in another state
D) failing to provide a client with a copy of the signed exclusive listing contract

Solutions: