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Exam (elaborations)

Nj Real Estate Unit 2 Commission Rules And Regulations Questions With 100% Correct Answers

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NJ REAL ESTATE UNIT 2 COMMISSION RULES AND REGULATIONS QUESTIONS WITH 100% CORRECT ANSWERS

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A New Jersey license is permitted to represent both parties to a transaction if he or
she obtains the
A) written consent of the seller and at least the informed, oral consent of the buyer.
B) informed, written consent of the seller, buyer, and any other agent involved.
C) consent, whether written or oral, of either party to the transaction.
D) permission of the New Jersey Real Estate Commission in accordance with the
license law.


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B) informed, written consent of the seller, buyer, and any other agent
involved.




A real estate salesperson may
A) be compensated by someone other than his or her supervising broker
B) have his or her own escrow account

, C) work for more than one broker at a time
D) prepare a sales contract for a four-family home


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D) prepare a sales contact for a four-family home




Probation


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Least severe discipline by the Real Estate Commission




Revocation


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Cancellation of a real estate license




Commingling


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Mixing broker's money with that of others

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