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NJ Real Estate Practice Test 1 Questions and Complete Solutions Graded A+
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NJ Real Estate Practice Test 1 Questions and Complete Solutions Graded A+
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NJ Real EstatePractice Test 1
Questions and
Complete Solutions
Graded A+
Denning [Date] [Course title]
,When talking with a broker about listing his home for sale, Frank Jackson made it clear that he " did not
want to have the house shown to people who would change the neighborhood". What must the broker
do?
a. Refuse the listing if Frank intends to violate the Law Against Discrimination
b. Refuse the listing unless Frank is willing to offer seller-financing
c. Accept the listing on the condition that Frank will not be present when the house is shown
d. Accept the listing after explaining to Frank that discrimination is illegal - Answer: a. Refuse the listing
if Frank intends to violate the Law Against Discrimination
Which of the following acts is illegal?
a. A non-licensed property owner sells a lot to a developer.
b. A non-licensed banker collects rents on behalf of the bank.
c. A licensed broker shares a commission with a real estate attorney.
d. A licensed salesperson assists a licensed broker with purchase negotiations. - Answer: c. A licensed
broker shares a commission with a real estate attorney
An unlicensed assistant in a real estate brokers office may
a. show property.
b. pick up keys.
c. host an open house.
d. answer questions on listings. - Answer: b. pick up keys.
Which of the following documents must be retained by a broker for only six months?
a. Trust account records
b. Listing agreements
c. Contracts of sale
, d. Unaccepted offers to purchase - Answer: d. Unaccepted offers to purchase
In New Jersey, no ads for real estate may
a. indiscriminately promise financing.
b. refer to a home warranty.
c. contain the phrase "in the vicinity of"
d. offer a free competitive market analysis. - Answer: a. indiscriminately promise financing.
The supervising licensee for a main real estate office must NOT be
a. under 25 years old
b. otherwise employed
c. licensed in more than one state
d. a licensed insurance broker - Answer: b. otherwise employed
a WAIVER OF BROKER COOPERATION must be completed and signed when cooperation with other
brokers is NOT desired by
a. the seller
b. listing broker
c. supervising broker
d. prospective buyer - Answer: a. the seller
Prohibitions against COMMINGLING are aimed to prevent
a. mixing brokers' funds with clients' funds
b. promising financing indiscriminately
c. representing both parties in a transaction
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