Real Estate New-Jersey-Real-Estate-Salesperson : New Jersey Real Estate Salesperson Exam

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Real Estate New-Jersey-Real-Estate-Salesperson Exam Syllabus Topics:

Real Estate New Jersey Real Estate Salesperson Sample Questions:

Question 1

A home sold for $400,000. It was appraised for $402,000, and the assessed value was $320,000. Assume in this situation, the real estate transfer tax of 1% is paid by the grantee. How much will the seller owe at closing for transfer fees?

A. $3,200
B. $4,000
C. $0
D. $4,020

Question 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. null and void
B. irrevocable
C. rescinded
D. binding

Question 3

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. $1,980
B. $2,640
C. $1,320
D. $3,980

Question 4

A salesperson is convicted of a crime which involved activities as a real estate licensee. The Commission obtains a certified copy of the judgment of conviction against the salesperson. According to the New Jersey Real Estate License Law, the Commission MUST:

A. suspend the salesperson's license
B. notify the salesperson's employing broker of the circumstances pertaining to the conviction
C. determine, at its discretion, what disciplinary action to take against the salesperson
D. revoke the salesperson's license

Question 5

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

Solutions: