Free Real Estate New-Jersey-Real-Estate-Salesperson Exam Dumps Questions & Answers

When buyers move into their new house, they see that the ceiling fan in the dining room is gone. The ceiling fan was not mentioned in the offer to purchase. Did the sellers have the right to take the ceiling fan?

• A.No, because it was chattel.
• B.Yes, because it was not referenced in the contract.
• C.No, because it was a fixture in the house.
• D.Yes, because it was the sellers' personal property.

A couple who sell their principal residence may take up to $500,000 in federal capital gains tax-free only if:

• A.at least one of them has reached the age of 65.
• B.they buy a replacement home of equal or greater value than the one being sold within a year.
• C.they have owned and occupied the house for at least 2 of the previous 5 years.
• D.neither has ever used the Homesellers Exclusion in the past.

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

A listing agent presents a signed offer to a seller who then changes the amount of the down payment. Before presenting the counteroffer to the buyer, the New Jersey Real Estate License Law requires the listing agent to

• A.verbally inform any buyer's agent of the proposed revision.
• B.obtain the consent of the listing broker.
• C.secure the seller's initials confirming the revision.
• D.prepare a separate addendum that reflects the revision.

A licensed broker may establish a commission rate at a predetermined amount that reflects the broker's general office policy provided the broker:

• A.has the percentage or fixed amount printed on all listing agreement forms
• B.negotiates all commissions with sellers
• C.advertises the commission rate at least once per month
• D.advises the New Jersey Consumer Affairs Division that the broker will not negotiate this commission rate