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Real Estate New Jersey Real Estate Salesperson Sample Questions:
1. A licensee listed a house for $187,500, and a dual agency does not exist. A buyer is willing to offer $184,000.
The licensee explains that the seller will take no less than $186,500. The buyer agrees to offer $186,500. Did the licensee act properly?
A) No, the licensee should have accepted the first offer and persuaded the seller to accept it.
B) Yes, to ensure acceptance of an offer, the licensee needed to disclose the lowest price the seller would accept.
C) Yes, because the licensee persuaded the buyer to raise the price $2,500.
D) No, the licensee should not have disclosed that the seller would accept less than the listing price.
2. After announcing that a new city park will soon be developed, homes in the immediate area experience a rise in value. This is an example of which of the following principles of value?
A) anticipation
B) highest and best use
C) contribution
D) change
3. A real estate broker's maintained place of business MUST conspicuously display on the exterior the broker's name and the word(s):
A) Licensed Real Estate Broker
B) Real Estate Broker
C) Licensed Realtor
D) Realtor
4. A CORRECT statement about transaction brokers is that they:
A) represent neither the buyer nor the seller
B) may conduct transactions without an active real estate license
C) represent both the buyer and the seller
D) are required to disclose confidential information
5. A ranch house with a double garage is being valued. The house next door, which is similar except that it lacks a garage and has an outside deck, was sold last month for $138,000. Experience in that area shows that a two- car garage is probably worth $10,000 to buyers, while in general, they will pay only $500 extra for a deck.
The ranch house is most likely to sell for around:
A) $123,500
B) $128,500
C) $147,500
D) $148,500
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: A | Question # 3 Answer: A | Question # 4 Answer: A | Question # 5 Answer: C |

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