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Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. An intoxicated buyer made an offer on a house. The owners accepted the offer. This contract is

A) illegal.
B) voidable.
C) void.
D) unilateral.

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:

A) irrevocable
B) binding
C) rescinded
D) null and void

3. Which of the following is a permitted free offering?

A) A free dinner for attendees at a homebuyers' evening seminar
B) A coupon for discounted commission on listing services
C) A complimentary home warranty with every listing
D) Free use of a local moving van for all listings

4. According to the Real Estate Licensing Law, a real estate licensee can provide a rebate of the commission to a buyer

A) if the licensee is the broker.
B) if a writing confirming the terms of the rebate is provided to the buyer at closing.
C) if notated on the contract of sale.
D) provided it does not exceed 50% of the total commission.

5. The Multiple Listing Service (MLS) board members decided that the population of each area of the city would be best served by the brokerages who have offices actually located within those areas. The board established boundaries dividing the city into six districts and voted to limit listings for each district to only those brokerages with offices within the district. Brokerages who tried to advertise beyond their own district would be prohibited from listing properties in the MLS. This action violates what Real Estate Law?

A) Civil Rights Act
B) Housing and Community Development Act of 1974
C) Sherman Anti-trust Act
D) Diversity Jurisdiction

Solutions: