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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 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B) rescinded
C) binding
D) null and void

2. Written offers to purchase real estate in New Jersey must be presented to sellers within:

A) 48 hours
B) 24 hours
C) 3 days
D) 5 days

3. A deposit check from a buyer paid upon the submission of an offer may be held without being deposited into the broker's escrow account:

A) until all inspections required by the contract have been performed
B) until negotiations are concluded and the seller has accepted the offer
C) for no more than five business days after receipt of the money
D) for no more than five business days after the termination of the attorney review period

4. A low loan-to-value ratio indicates a:

A) greater risk of foreclosure.
B) greater use of leverage.
C) higher equity in the property.
D) lower equity in the property.

5. A married couple is purchasing a home. They ask the salesperson to advise them regarding the best way to take title. The salesperson should

A) ask a broker to make a recommendation.
B) advise them to take title as tenants by the entirety.
C) explain the possible types of joint ownership so they understand the options.
D) decline to advise them and suggest that they consult an attorney.

Solutions: