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Real Estate New-Jersey-Real-Estate-Salesperson Exam Syllabus Topics:

Real Estate New Jersey Real Estate Salesperson Sample Questions:

1. Which of the following statements correctly describes a standard feature of a buyer-agency agreement?

A) A retainer fee is normally paid at the time the agreement is signed.
B) It establishes a fiduciary relationship with the buyer.
C) A buyer-agency agreement is an option rather than an employment contract.
D) The source of compensation determines the agency relationship.

2. In a jurisdiction where the common law of agency applies, a broker has listed a home and then presented to the seller an offer from another client of the broker. The offer has been accepted. The broker has what type of agency relationship with the parties?

A) dual agency
B) no agency relationship; in this situation the broker becomes a facilitator only
C) seller agency, buyer sub-agency
D) seller agency, no agency relationship with buyer

3. 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) should be turned into the MLS.
B) can be taken to the new firm so there is no interruption of service to the client.
C) should be given to the seller.
D) cannot be taken because it belongs to Broker A.

4. A buyer-broker locates a property that is listed with another broker. The buyer makes an offer through the buyer-broker and an agreement of sale results. In this situation, the buyer-broker is acting as a:

A) representative of the buyer and owes no fiduciary obligations to the seller
B) referring broker with the listing broker
C) subagent of the listing broker
D) representative of the seller and owes no fiduciary obligations to the buyer

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

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

Solutions: