Online Access Free New-Jersey-Real-Estate-Salesperson Exam Questions

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.binding
• B.rescinded
• C.irrevocable
• D.null and void

A real estate licensee is a partial owner of a local inspection company. It is permissible for the licensee to tell all clients to use this company when:

• A.the licensee discloses the interest in the company to the client
• B.it is in the best interest of the client
• C.the client does not ask for other recommendations
• D.the licensee does not know any of the other title companies in the area

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

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

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

A salesperson is selling a leased commercial property. What will happen to the lease after the sale is consummated?

• A.The lease expires and the tenant must move.
• B.The lease is assigned to the new owner.
• C.The tenant and the new owner must negotiate a new lease.
• D.The new owner has the option of canceling the lease or accepting the lease.