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Real Estate New Jersey Real Estate Salesperson Sample Questions:

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

2. Are electronic signatures enforceable on a real estate contract?

A) No, because they must be signed and witnessed.
B) No, because they are only allowed on deeds.
C) Yes, because they are allowed by the federal government.
D) Yes, because they are legal in real estate transactions.

3. After announcing that a new city park will soon be developed, homes in the immediate area experience a rise in value. This is an example of which of the following principles of value?

A) highest and best use
B) change
C) contribution
D) anticipation

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

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

5. Two parcels of land priced at $2,100 per acre were purchased. One parcel was 5 acres in size, and the other was 1 square mile in size. How much should these two parcels have cost together?

A) $914,760
B) $1,060,500
C) $1,354,500
D) $766,000

Solutions: