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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A buyer-broker locates a property that is listed with another broker. The buyer makes an offer through the buyer-broker and an agreement of sale results. In this situation, the buyer-broker is acting as a:

A) referring broker with the listing broker
B) subagent of the listing broker
C) representative of the seller and owes no fiduciary obligations to the buyer
D) representative of the buyer and owes no fiduciary obligations to the seller

2. Which of the following differentiates a bilateral contract from a unilateral contract?

A) type of property specified in the contract
B) performance obligations of the parties
C) relative value of the object of the contract
D) number of parties involved

3. A real estate licensee is a partial owner of a local inspection company. It is permissible for the licensee to tell all clients to use this company when:

A) the licensee does not know any of the other title companies in the area
B) it is in the best interest of the client
C) the licensee discloses the interest in the company to the client
D) the client does not ask for other recommendations

4. A client is considering listing an industrially zoned 10-acre site. It has been vacant for several years, and was formerly used as an automobile junkyard. What would a responsible real estate licensee recommend the seller consider obtaining prior to putting the property on the market?

A) an environmental site assessment
B) an air quality report from the Environmental Protection Agency
C) an electromagnetic field determination
D) a radon measurement analysis

5. Which of the following statements would most likely be considered mere "puffing"?

A) This lot has the most beautiful view of the lake.
B) The utility costs in this home are lower than in any other home in the neighborhood.
C) Children from this neighborhood have the highest SAT scores.
D) This area is expected to increase in value by 25% within the next year.

Solutions: