Question 1

If an owner wants to list a property for sale "as is," the listing agent should:

Options :

A : assume that the owner will accept a relatively low price for the property.

B : conclude that if the buyer later discovers defects that were not disclosed the listing agent is relieved of any responsibility.

C : question the seller as to any known defects.

D : assume that the house is a "fixer-upper."

Answer: C

Question 2

A seller places a property on the market for sale at a certain price. A buyer sees the property and makes a written offer to purchase that is 90% of the asking price. The seller rejects that offer, but will accept an offer of 95% of the original asking price. The buyer rejects that counteroffer. The original offer is:

Options :

A : rescinded

B : null and void

C : irrevocable

D : binding

Answer: B

Question 3

A subordination agreement is used to:

Options :

A : change the priority of mortgages.

B : initiate foreclosure proceedings.

C : pledge property for a loan without giving up possession.

D : assign rents to the lender in case of borrower default.

Answer: A

Question 4

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

Options :

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 turned into the MLS.

D : should be given to the seller.

Answer: B

Question 5

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

Options :

A : Type contracts for approval

B : Make telephone calls to request rent payments

C : Follow up on loan applications with lenders

D : Place signs on properties

Answer: B

Free New-Jersey-Real-Estate-Salesperson Mock Exam – Practice Online Confidently

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