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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. Which of the following is a permitted free offering?

A) A coupon for discounted commission on listing services
B) A free dinner for attendees at a homebuyers' evening seminar
C) Free use of a local moving van for all listings
D) A complimentary home warranty with every listing

2. As required by the New Jersey Real Estate Sales Full Disclosure Act, before signing any contract for the purchase or lease of a property registered with the New Jersey Real Estate Commission, the purchaser or lessee MUST be provided with a copy of the:

A) filed plat map identifying the location of the property being bought or leased
B) Statement of Record filed by the developer with the Commission
C) New Jersey Public Offering Statement approved by the Commission
D) deed or other instrument establishing title in the name of the developer

3. A lender may add 1/12th of the estimated cost of the annual property taxes and hazard insurance on the mortgaged property to the monthly loan payment for deposit in:

A) an adjustment account
B) a margin account
C) a PMI account
D) an impound, escrow, or reserve account

4. A licensee must provide a Consumer Information Statement in all of the following transactions EXCEPT the:

A) sale of a three-family house in a mixed-use zone
B) lease of a three-bedroom apartment for one year
C) sale of a vacant one-family lot
D) sublease of a studio apartment for two months

5. If a salesperson or broker-salesperson maintains a webpage that is not linked to the webpage of their broker, the licensee's webpage must display the name of the broker as well as the

A) address of the broker's main office.
B) address of the branch office from which the licensee operates.
C) broker's telephone number.
D) broker's email address.

Solutions: