Ty is a licensed broker in new Jersey who has given a lender a sales price that is higher
than the actual price. Which of the following is correct?
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Ty may lose his license and be fined and/or imprisoned
In New Jersey, which of the following is true of brokers and salespeople who are not
lawyers?
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They may fill in blanks on preprinted form contracts that are customarily
used in their community
,The sellers listed their property for six months on February 26 for $104,500. They
agreed to pay the listing broker a 7% commission at closing on the agreed upon sale
price. A buyer made an offer on the property on March 29 for $102,000. The seller
countered the offer on April 1 at $103,500, and the buyer accepted the counter offer
with the closing to occur on June 15. How much commission did the seller owe the
listing broker, and how would it appear on the settlement statement?
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$7,245. Debit the seller.
103500*7%=7245
Is it acceptable in New Jersey for a broker to make a blanket offer of subagency at the
time a property is listed in the MLS?
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No, because subagency relationships in New Jersey may be created only
by specific agreement between the parties
Paul is a New Jersey broker who intends to open a branch office in a nearby town. He
applies for a branch office license, giving a name that clearly identifies its relationship
with his main office. Paul also names an unlicensed real estate salesperson as the
manager of the branch office. Given these facts, will Paul receive approval for the
branch office?
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, No; the manager of a branch office must be a licensed real estate
broker/salesperson
Which of the following is NOT a requirement for obtaining a broker's license in New
Jersey?
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two years experience as an active licensed salesperson
A real estate license is required for which of the following individuals to transact
business?
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person who negotiates the sales of businesses, including their stock
equipment and buildings, for an established fee
Steven was a witness to his uncle's last will and testament. After the uncle's death, and
the will was read, Steven learned that he was a devisee of his uncle's will. Which of the
following statements is true?
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Steven has not effected his right to be a devisee of his uncle's will in New
Jersey.
than the actual price. Which of the following is correct?
Give this one a try later!
Ty may lose his license and be fined and/or imprisoned
In New Jersey, which of the following is true of brokers and salespeople who are not
lawyers?
Give this one a try later!
They may fill in blanks on preprinted form contracts that are customarily
used in their community
,The sellers listed their property for six months on February 26 for $104,500. They
agreed to pay the listing broker a 7% commission at closing on the agreed upon sale
price. A buyer made an offer on the property on March 29 for $102,000. The seller
countered the offer on April 1 at $103,500, and the buyer accepted the counter offer
with the closing to occur on June 15. How much commission did the seller owe the
listing broker, and how would it appear on the settlement statement?
Give this one a try later!
$7,245. Debit the seller.
103500*7%=7245
Is it acceptable in New Jersey for a broker to make a blanket offer of subagency at the
time a property is listed in the MLS?
Give this one a try later!
No, because subagency relationships in New Jersey may be created only
by specific agreement between the parties
Paul is a New Jersey broker who intends to open a branch office in a nearby town. He
applies for a branch office license, giving a name that clearly identifies its relationship
with his main office. Paul also names an unlicensed real estate salesperson as the
manager of the branch office. Given these facts, will Paul receive approval for the
branch office?
Give this one a try later!
, No; the manager of a branch office must be a licensed real estate
broker/salesperson
Which of the following is NOT a requirement for obtaining a broker's license in New
Jersey?
Give this one a try later!
two years experience as an active licensed salesperson
A real estate license is required for which of the following individuals to transact
business?
Give this one a try later!
person who negotiates the sales of businesses, including their stock
equipment and buildings, for an established fee
Steven was a witness to his uncle's last will and testament. After the uncle's death, and
the will was read, Steven learned that he was a devisee of his uncle's will. Which of the
following statements is true?
Give this one a try later!
Steven has not effected his right to be a devisee of his uncle's will in New
Jersey.
