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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. A landlord may require that a disabled tenant

A) pay double the usual $500 security deposit.
B) not install grab bars in the tile shower if drilling holes in the tile is required.
C) pay an additional fee for using the swimming pool to cover the added insurance cost.
D) remove the wheelchair ramp from the apartment upon vacating the unit.

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

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

3. A purchase money note need NOT contain the:

A) time and method of payment.
B) principal amount of the loan.
C) rate of interest.
D) loan-to-value ratio.

4. Rents on a duplex total $600 monthly and are due the first of each month. If the sale of the duplex closes on the 15th of a month, the rental income will be reflected on the closing statement as a

A) credit of $600 to the buyer only.
B) debit to the seller of $300 and a credit to the buyer of $300.
C) credit of $600 to the seller only.
D) credit to the seller of $300 and a debit to the buyer of $300.

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

Solutions: