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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. The listing broker has been presented with multiple offers. The seller would accept only a cash offer on the home, so the broker will present:

A) the highest cash offer to the seller.
B) only cash offers to the seller.
C) the highest offer to the seller.
D) all offers to the seller.

2. Evergreen bushes and apple trees on a property that were planted by the current owner are examples of:

A) chattels
B) trade fixtures
C) real estate
D) personal property

3. A licensed broker may establish a commission rate at a predetermined amount that reflects the broker's general office policy provided the broker:

A) has the percentage or fixed amount printed on all listing agreement forms
B) negotiates all commissions with sellers
C) advises the New Jersey Consumer Affairs Division that the broker will not negotiate this commission rate
D) advertises the commission rate at least once per month

4. A property was listed for $110,000. It sold for $106,000. A 6.5% fee was split equally between the listing and selling real estate firms. The listing licensee received 55% of the listing office share. How much did the listing licensee receive?

A) $3,789.50
B) $3,575.00
C) $1,966.25
D) $1,894.75

5. The common area of a condominium development is owned by:

A) all owners as tenants in common.
B) any individuals who pay a prorated share of the taxes and maintenance.
C) those owners who were original owners of the units.
D) its duly elected Board of Directors.

Solutions: