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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. Which of the following differentiates a bilateral contract from a unilateral contract?

A) type of property specified in the contract
B) number of parties involved
C) performance obligations of the parties
D) relative value of the object of the contract

2. A buyer-broker locates a property that is listed with another broker. The buyer makes an offer through the buyer-broker and an agreement of sale results. In this situation, the buyer-broker is acting as a:

A) referring broker with the listing broker
B) subagent of the listing broker
C) representative of the buyer and owes no fiduciary obligations to the seller
D) representative of the seller and owes no fiduciary obligations to the buyer

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

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

4. Under the New Jersey Real Estate Licensing Law, which of the following is an unlicensed assistant or secretary NOT permitted to do?

A) Make telephone calls to request rent payments
B) Follow up on loan applications with lenders
C) Type contracts for approval
D) Place signs on properties

5. A real estate broker's maintained place of business MUST conspicuously display on the exterior the broker's name and the word(s):

A) Real Estate Broker
B) Licensed Real Estate Broker
C) Licensed Realtor
D) Realtor

Solutions: