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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A salesperson working with buyers secures an offer on a property. The offer calls for an initial deposit of
$1,000 to be held in escrow. The salesperson instructs the buyer to issue a personal check in that amount payable to the salesperson. This action is

A) permissible, because the salesperson is acting as agent for the broker.
B) prohibited, because the salesperson accepted a personal check.
C) permissible if the salesperson immediately writes a check for the deposit amount payable to their broker's escrow account.
D) prohibited, because checks for deposits to be held in escrow may only be payable to the broker's escrow account.

2. A national company desires a parcel of land which must be 4 times the size of its proposed building. If the building design includes 20,000 square feet, then which of the following minimum sized lots should be purchased?

A) 8 acres
B) 2 acres
C) 1 acre
D) 4 acres

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

4. Limiting the neighborhoods in which a licensee shows houses because of a buyer's race is:

A) puffing
B) blockbusting
C) redlining
D) steering

5. A property was listed for $110,000. It sold for $106,000. A 6.5% fee was split equally between the listing and selling real estate firms. The listing licensee received 55% of the listing office share. How much did the listing licensee receive?

A) $1,894.75
B) $3,789.50
C) $3,575.00
D) $1,966.25

Solutions: