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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 turned into the MLS.
D) should be given to the seller.

2. Which of the following statements in an advertisement would be an example of non-discriminatory language under HUD's Fair Housing Advertising Guidelines?

A) apartment available. No pets or children allowed
B) nice home ideal for any family with children
C) female seeking female roommate
D) located within walking distance to a great Catholic school

3. A subordination agreement is used to:

A) initiate foreclosure proceedings.
B) pledge property for a loan without giving up possession.
C) change the priority of mortgages.
D) assign rents to the lender in case of borrower default.

4. 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) $1,060,500
B) $1,354,500
C) $914,760
D) $766,000

5. In commercial property leasing, listing agents should ensure that the owner complies with:

A) market lease rates
B) their fiduciary responsibilities to the tenant
C) the Americans with Disabilities Act
D) state and federal Fair Housing laws

Solutions: