NJ Real Estate Practice Test 1 Questions And 100% Correct Answers.
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Course
NJ Title Producer
Institution
NJ Title Producer
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. Refu...
NJ Real Estate Practice Test 1 Questions
And 100% Correct Answers.
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
d. preventing brokers from lending licenses - Answer a. mixing brokers' funds with clients' funds
All ads for real estate must specify the
a. brokers name
b. asking price
c. property's municipal location
d. listing expiration date - Answer c. property's municipal location
When brokers' licenses are suspended or revoked, their salespersons' licenses are
a. not affected
b. affected only if they had guilty knowledge
c. suspended until the end of the current license period
d. suspended until they affiliate with another broker - Answer d. suspended until they affiliate with
another broker
Real estate is defined to include all of the components of land and also
a. natural attachments
b. trade fixtures
c. personal property
d. man-made improvments - Answer d. man-made improvements
The creations of dry land by the gradual withdrawal of water from the land by lowering of its surface
level is known as
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