1 of 76
Term Definition
1. A secretary in a real estate
B
office who does NOT have a
real estate license may,
A. Review the consumer
information statement with a
prospective buyer.
B. Perform bookkeeping
functions concerning escrowed
funds.
C. Sign escrow checks with the
written authorization of the
broker.
D. Disclose the current status of
a commercial listing.
Give this one a try later!
, True False
2 of 76
Term Definition
1. Which of the following
A
statements concerning an
agreement of sale prepared by
a licensee in accordance with
New Jersey License Law is
correct?
A. The agreement must contain
a mortgage contingency clause.
B. The agreement must include
an Attorney Review Clause.
C. The buyer must be given
three-day right of rescission.
D. The contract must include the
attorney general's memorandum
on discrimination.
Give this one a try later!
True False
Correct definition
B
, 3 of 76
Term Definition
1. Which of the following is used
B
in the cost approach when
estimating the value of
improvements?
A. The assessed value of the
property including the land
B. How much it would cost to
build a similar building at today's
cost
C. The price per square foot of
comparable properties
D. Location, available financing,
and depreciation
Give this one a try later!
True False
4 of 76
Term Definition
1. Under New Jersey Real Estate
C
Commission rules, a licensee's
obligations to the public include
all of the following
responsibilities EXCEPT
A. Accepting any reasonable
, commission offered by a seller
in the course of negotiating a
listing agreement
B. Dealing honestly with all
parties
C. Disclosing material defects in
a property to a prospective
purchaser
D. Protecting and promoting the
interested of the licensee's
principal when acting as an
agent.
Give this one a try later!
True False
Correct definition
A
5 of 76
Term Definition
1. Which of the following are B
MOST likely to be addressed by
building codes?
A. Deed restrictions.
B. Construction standards.
Term Definition
1. A secretary in a real estate
B
office who does NOT have a
real estate license may,
A. Review the consumer
information statement with a
prospective buyer.
B. Perform bookkeeping
functions concerning escrowed
funds.
C. Sign escrow checks with the
written authorization of the
broker.
D. Disclose the current status of
a commercial listing.
Give this one a try later!
, True False
2 of 76
Term Definition
1. Which of the following
A
statements concerning an
agreement of sale prepared by
a licensee in accordance with
New Jersey License Law is
correct?
A. The agreement must contain
a mortgage contingency clause.
B. The agreement must include
an Attorney Review Clause.
C. The buyer must be given
three-day right of rescission.
D. The contract must include the
attorney general's memorandum
on discrimination.
Give this one a try later!
True False
Correct definition
B
, 3 of 76
Term Definition
1. Which of the following is used
B
in the cost approach when
estimating the value of
improvements?
A. The assessed value of the
property including the land
B. How much it would cost to
build a similar building at today's
cost
C. The price per square foot of
comparable properties
D. Location, available financing,
and depreciation
Give this one a try later!
True False
4 of 76
Term Definition
1. Under New Jersey Real Estate
C
Commission rules, a licensee's
obligations to the public include
all of the following
responsibilities EXCEPT
A. Accepting any reasonable
, commission offered by a seller
in the course of negotiating a
listing agreement
B. Dealing honestly with all
parties
C. Disclosing material defects in
a property to a prospective
purchaser
D. Protecting and promoting the
interested of the licensee's
principal when acting as an
agent.
Give this one a try later!
True False
Correct definition
A
5 of 76
Term Definition
1. Which of the following are B
MOST likely to be addressed by
building codes?
A. Deed restrictions.
B. Construction standards.
