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Real Estate New-Jersey-Real-Estate-Salesperson Exam Syllabus Topics:

Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A Seller's Property Disclosure form states that there are no known material defects with the property, but the listing licensee is aware of asbestos wrapped duct pipes in the basement. The licensee should:

A) suggest to the seller wrap the pipes to contain potential airborne contamination.
B) suggest the buyers have a home inspection and leave discovery up to the inspector.
C) disclose the existence of asbestos to all potential buyers.
D) ask the seller's permission to disclose and abide by the seller's wishes.

2. Salesperson P leaves the employ of Broker A. One of the listings at Broker A's firm has agreed to list with Salesperson P at the new firm. In this instance the listing file:

A) should be given to the seller.
B) should be turned into the MLS.
C) can be taken to the new firm so there is no interruption of service to the client.
D) cannot be taken because it belongs to Broker A.

3. A seller is offering his property for sale in as-is condition. A buyer enters into a contract with the seller and has the home inspected. The inspection reveals a latent defect known to, but not disclosed by, the seller. The buyer:

A) must go through with the purchase because the house is being sold as is.
B) can force the seller to correct the defect.
C) can reduce the contract sales price by the cost of correcting the defect.
D) can void the contract due to the seller's failure to disclose the latent defect.

4. Which of the following items would be prorated at closing with the credit going to the seller?

A) earnest money
B) accrued interest on an assumed mortgage
C) prepaid property taxes
D) unearned rent collected in advance

5. A salesperson is selling a leased commercial property. What will happen to the lease after the sale is consummated?

A) The tenant and the new owner must negotiate a new lease.
B) The lease expires and the tenant must move.
C) The lease is assigned to the new owner.
D) The new owner has the option of canceling the lease or accepting the lease.

Solutions: