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

Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. Broker P is the sole proprietor of XYZ Realty. P employs five salespersons, all of whom have been practicing real estate for at least two years. Under the license law, if P should die, which of the following actions can be taken?

A) A salesperson holding a real estate license for at least three years can apply for a temporary broker's license in order to continue the firm's activity.
B) The Real Estate Commission can direct an experienced broker with another firm to conclude all pending business.
C) All sales contracts can be declared null and void and all salespersons will lose their licenses until establishing employment with another broker.
D) The most experienced salesperson can act as broker for a maximum of six months until a permanent replacement broker is licensed.

2. A broker maintains a real estate agency and terminated two salespersons. In this situation, the broker is REQUIRED to take all the following actions with regard to these two salespersons EXCEPT:

A) provide each with a written accounting of all monies due each salesperson.
B) permit them to remove original sales or listing contracts from the broker's office.
C) pay any undisputed compensation due within ten days of the broker's receipt of such funds.
D) abide by the post-termination compensation clause contained in their employment agreements or provide a written explanation for not doing so.

3. A broker is offering a $100 gift certificate at a jewelry store to all sellers who list with the broker during a specified time period. According to the New Jersey Real Estate License Law, such a promotion is prohibited because it:

A) makes the receipt of the free offering contingent upon sellers listing their properties with the broker
B) discriminates against sellers who do not list with the broker during the specified time period
C) discriminates against sellers whose religion prohibits the wearing of jewelry
D) offers compensation for brokerage activity to unlicensed persons

4. An applicant for a real estate salesperson's license must apply for the issuance of the license within:

A) 30 days after accepting an offer of employment from a licensed real estate broker
B) one year from the date of passing the state licensing examination
C) one year from the date of beginning the prelicensure education course
D) one year from the date of completion of the prelicensure education course

5. Under New Jersey Real Estate Commission rules, a licensee's obligations to the public include all of the following responsibilities EXCEPT:

A) disclosing material defects in a property to a prospective purchaser
B) protecting and promoting the interests of the licensee's principal when acting as an agent
C) accepting any reasonable commission offered by a seller in the course of negotiating a listing agreement
D) dealing honestly with all parties

Solutions: