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[Hardware] New-Jersey-Real-Estate-Salesperson Reliable Test Syllabus | Valid Test New-Jerse

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【Hardware】 New-Jersey-Real-Estate-Salesperson Reliable Test Syllabus | Valid Test New-Jerse

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Real Estate New Jersey Real Estate Salesperson Exam Sample Questions (Q114-Q119):NEW QUESTION # 114
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  • A. rescinded
  • B. irrevocable
  • C. null and void
  • D. binding
Answer: C
Explanation:
Once an offer is rejected or countered, the original offer is terminated and cannot be revived unless resubmitted.
A counteroffer legally cancels the original offer.
Therefore, the buyer's initial offer is null and void once the seller counters.
Correct answer = B.
Reference: NJ Real Estate Salesperson Study Guide, Chapter on Contracts and Offers.

NEW QUESTION # 115
Last year, an apartment building had a net operating income of $174,000. If a potential buyer is looking for a capitalization rate of 8%, how much should the buyer be willing to pay for the building?
  • A. $2,175,000
  • B. $174,000
  • C. $1,392,000
  • D. $139,200
Answer: C
Explanation:
The Income Capitalization Approach formula is:


NEW QUESTION # 116
When MUST a listing broker provide a copy of a fully executed written listing agreement to the owner?
  • A. Within five business days of execution of the listing agreement
  • B. At the time of presentation of a written offer
  • C. Upon execution of the listing agreement by all parties
  • D. Within three days of execution of the listing agreement by registered mail, return-receipt-requested
Answer: C
Explanation:
According to N.J.A.C. 11:5-6.9, every party signing a real estate listing agreement must receive a duplicate original immediately upon execution.
The copy must be delivered at the time of signing, not later.
This ensures transparency and protects both the seller and the broker.
Therefore, the correct answer is A.
Reference: NJREC Rules and Regulations, N.J.A.C. 11:5-6.9; NJ Real Estate Salesperson Study Guide, Chapter on Listing Agreements.

NEW QUESTION # 117
A subordination agreement is used to:
  • A. initiate foreclosure proceedings.
  • B. pledge property for a loan without giving up possession.
  • C. assign rents to the lender in case of borrower default.
  • D. change the priority of mortgages.
Answer: D
Explanation:
Lien priority is generally determined by the order of recording.
A subordination agreement is a legal document in which a lienholder voluntarily lowers its lien priority in favor of another lien.
It does not initiate foreclosure, pledge property, or assign rents.
Correct answer = A.
Reference: NJ Real Estate Salesperson Study Guide, Chapter on Mortgages and Financing Instruments.

NEW QUESTION # 118
Which of the following actions is NOT a cause for suspension or revocation of a New Jersey real estate license?
  • A. delivering a consumer information statement to a seller after having made a listing presentation
  • B. failing to provide a client with a copy of the signed exclusive listing contract
  • C. payment of a referral fee by a licensed New Jersey broker to a broker licensed in another state
  • D. collecting a commission as a broker from both parties to a transaction while representing both parties as their agent
Answer: C
Explanation:
The New Jersey Real Estate Licensing Law (N.J.S.A. 45:15-17) lists specific causes for suspension or revocation, including:
Failing to provide a signed document copy to a client.
Failure to properly deliver a Consumer Information Statement before discussing motivation or making a presentation.
Collecting compensation from both parties without full disclosure and written consent.
However, paying a referral fee to an out-of-state broker is expressly permitted, provided the other broker is properly licensed in their jurisdiction. This is not grounds for discipline.
Reference: NJ Real Estate Licensing Law, N.J.S.A. 45:15-17; NJREC Rules on Referral Fees.

NEW QUESTION # 119
......
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