Purchase Real Estate : New-Jersey-Real-Estate-Salesperson Exam Materials and then pass exam easily

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

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

2. 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A) rescinded
B) null and void
C) irrevocable
D) binding

3. A buyer is looking in several different cities for land to purchase for a shopping center. The buyer has decided to hire several real estate licensees, each representing the buyer in that licensee's city. Which type of agreement would protect the buyer from owing multiple commissions?

A) exclusive agency representation
B) nonexclusive right-to-lease
C) exclusive right to sell
D) nonexclusive buyer-agency

4. An applicant for a real estate salesperson's license must apply for the issuance of the license within:

A) one year from the date of completion of the prelicensure education course
B) 30 days after accepting an offer of employment from a licensed real estate broker
C) one year from the date of passing the state licensing examination
D) one year from the date of beginning the prelicensure education course

5. Salesperson P leaves the employ of Broker A. One of the listings at Broker A's firm has agreed to list with Salesperson P at the new firm. In this instance the listing file:

A) should be turned into the MLS.
B) cannot be taken because it belongs to Broker A.
C) can be taken to the new firm so there is no interruption of service to the client.
D) should be given to the seller.

Solutions: