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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A licensee faxes a list of available properties to prospective buyers. Which of the following is true?

A) The licensee's company's name does not need to be listed.
B) The licensee must mail an identical list to all parties.
C) The fax must contain an opt-out provision for future communications.
D) The licensee must include only a phone number to reply.

2. Who may give a supportable opinion of market value to be used in seeking a federally-related loan to finance a real estate transaction?

A) a Certified Public Accountant
B) a licensed real estate broker
C) any real estate licensee, in each state in which the licensee is licensed
D) a certified appraiser

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

4. A contract is delivered to the listing broker by a cooperating broker. The listing broker makes an appointment with the owner to present the offer at 7 p.m. of that day. Before 7 p.m., two more offers arrive on the same property. Which offer should be presented to the owner at the 7 p.m. appointment?

A) all three of the offers
B) the offer with the highest sale price
C) the first offer received
D) the offer most favorable to the seller, including price and all terms

5. A prospective buyer calls a licensed New Jersey salesperson to inquire about a property listed with that salesperson's brokerage. During the first substantive discussion about the property's price and terms, the salesperson must

A) only provide the CIS if the buyer asks for agency representation.
B) immediately provide the Consumer Information Statement (CIS).
C) provide the CIS at closing when all agency relationships are finalized.
D) wait until the buyer is ready to make an offer before presenting the CIS.

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