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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A tenant has an option to purchase leased property. The price that the tenant will pay for the property is determined by the:

A) tenant, when the option is exercised.
B) terms specified in the option.
C) agreement, when the option is exercised.
D) property's market value at the time of exercising the option.

2. New Jersey Real Estate Commission regulations require a licensee to terminate membership in a real estate board or multiple listing service whenever the organization:

A) suggests uniform commission rates among all member brokers
B) charges dues that the licensee feels are excessive
C) lobbies against legislation that the licensee personally favors
D) advocates rules, practices, and/or standards with which the licensee does not agree

3. Broker P is the sole proprietor of XYZ Realty. P employs five salespersons, all of whom have been practicing real estate for at least two years. Under the license law, if P should die, which of the following actions can be taken?

A) A salesperson holding a real estate license for at least three years can apply for a temporary broker's license in order to continue the firm's activity.
B) The most experienced salesperson can act as broker for a maximum of six months until a permanent replacement broker is licensed.
C) All sales contracts can be declared null and void and all salespersons will lose their licenses until establishing employment with another broker.
D) The Real Estate Commission can direct an experienced broker with another firm to conclude all pending business.

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

5. A landlord may require that a disabled tenant

A) not install grab bars in the tile shower if drilling holes in the tile is required.
B) pay an additional fee for using the swimming pool to cover the added insurance cost.
C) pay double the usual $500 security deposit.
D) remove the wheelchair ramp from the apartment upon vacating the unit.

Solutions: