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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. Which action would be allowed according to the Federal Fair Housing law?

A) A landlord receives a rental application from a prospective tenant, who came from Russia a few years ago to attend the local university. The lender denies the rental application after asking for the prospective tenant's visa and determines that it expires in 3 months.
B) Broker A meets a new Hispanic buyer client. Broker B just sold a handful of condos to other Hispanic buyers in the Kentwood neighborhood, so broker A suggests the new buyer might be comfortable in that neighborhood.
C) A broker informs a potential seller that there is an influx of immigrants snatching up rentals in the neighborhood, so this would be a good time to sell.
D) A lender receives notice that a loan application submitted on behalf of a client has been denied. The lender knew the borrower was well qualified, but is told that area is off limits for new loans because of its crime rate.

2. Limiting the neighborhoods in which a licensee shows houses because of a buyer's race is:

A) steering
B) puffing
C) redlining
D) blockbusting

3. A seller has entered into an exclusive right to sell agreement with a broker. The buyer presents the seller with an offer to purchase that is 20% less than the list price. Which of the following is appropriate?

A) The seller is under no obligation to accept the offer or make a counteroffer.
B) The seller is obligated to pay the buyer a commission or the offer price if the seller rejects the offer.
C) The seller is obligated to make a counteroffer to the buyer if the offer is unacceptable.
D) The seller has 72 hours to submit a counteroffer or else the offer is considered to be accepted.

4. 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) immediately provide the Consumer Information Statement (CIS).
B) only provide the CIS if the buyer asks for agency representation.
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.

5. A contract of sale prepared by a licensee MUST include an attorney review clause if it pertains to which of the following types of properties?

A) Single family residential vacant lot
B) Commercial building that does not exceed 10,000 square feet
C) Subdivision of fifteen or more lots
D) Six-family dwelling unit, a portion of which is used for non-residential purposes

Solutions: