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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. Which of the following statements in an advertisement would be an example of non-discriminatory language under HUD's Fair Housing Advertising Guidelines?

A) located within walking distance to a great Catholic school
B) apartment available. No pets or children allowed
C) nice home ideal for any family with children
D) female seeking female roommate

2. A lender whose mortgagor has defaulted may be offered a deed in lieu of foreclosure. If accepted, which of the following will be true?

A) Because it is voluntary, it will not be an adverse item on the buyer's credit.
B) The loan will still be assumable.
C) The lender will usually retain rights under mortgage insurance or VA guarantee.
D) The lender will take the title subject to any junior liens.

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

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

A) Within five business days of execution of the listing agreement
B) Upon execution of the listing agreement by all parties
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

5. Two real estate firms shared equally a 6% commission on the sale of a house. The listing licensee was paid
60% of the broker's share. The house was sold for $110,000. How much did the listing agent earn?

A) $1,320
B) $3,980
C) $1,980
D) $2,640

Solutions: