Quiz
Chapter 1
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Questions in this quiz (22)
1NJ's real estate license law is known as
- Athe Statue of Frauds
- BTitle VII
- CTitle 45
- Dthe Law of Agency
2A NJ resident does NOT need a license to
- Ahelp a neighbor sell his or her house in return for a used car
- Bnegotiate the purchase of vacant land on behalf of a developer in return for one lot
- Cdraw up a binding lease for a new tenant in a property the resident owns
- Dcharge a fee for selling someone else's pizza business, including name, ovens, truck and small building
3A real estate license is valid for
- Asix months
- Bone year
- Ctwo years
- Dlife
4According to the law, to obtain salesperson's license one must reach the age of
- A18
- B19
- C20
- D21
5A broker must have completed how many hours of study beyond the original salesperson's course?
- A30
- B75
- C150
- D165
6The pre-license course must be taken over if the student does not apply for a license within
- Asix months
- Btwo years
- Cone year
- Dan unlimited amount of time
7A nonresident broker requesting a NJ license must
- Apost a bond
- Bagree to be sued in NJ
- Copen an office in the state
- Dhave a licensed NJ broker as a sponsor
8An honorably discharged war veteran with a service connected wound or disability, may
- Asell real estate and charge commissions with out holding a real estate license
- Bbe exempt from payment of license fees
- Cobtain license under 18
- Dbe excused from taking license exam
9if a principal broker dies, associated salesperson should promptly
- Achange their affiliation to another firm
- Bhave one of their members apply for temporary broker's license
- Cobtain broker's license
- Dmove the office to another location
10The real estate commission has how many nembers
- A3
- B5
- C8
- D10
11Continuing ed classes must be taken
- Aby all licensees
- Bin every 2 year period
- Cfor initial broker's license
- Dwithin a year of license renewal
12which of the following are NEVER allowed to sell real estate without a license
- Abanks
- Binsurance brokers
- Cattornys
- Downers
13the Guarantee Fund is funded by
- AFinds paid by brokers who violate license law
- Ba 1% tax on real estate tax over 500K
- Cfees paid at 1st license application
- Dreal property taxes
14real estate brokers may need special registration when selling some
- Aout of state properties
- Bpreviously owned condos
- Cbusiness opportunities
- Dreal estate at an auction
15rental referral agencies must
- Acharge perspective tenants no more than $25
- Bcheck once a week to see if apartments are still available
- Cobtain special rental license
- Dfurnish prospects with written contract
16Terry, an unlicensed assistant, is asked over the phone, how many rooms are in that house at 7 oak street. Terry can
- Aread the description in the written listing contract
- Brepeat only what her broker has told her
- Csay that yesterday's classified ad (which she wrote) mentions 4 bedrooms
- Dgive no answers about property
17nj requires the broker who sells out of state sub-divided lands to
- Aregister with the state
- Bobtain a securities license
- Cconsent to be sued in the state
- Dfile a certificate of occupancy
18in nj the buyer who purchase out of state sub-divided land may cancel the contract for no reason within
- A3 days
- B7 calendar days
- C10 days
- D1 month
19a developer advertises properties in Vermont to nj residents. the ads are all in French. any additional forms, contracts or other materials that are made available to prospects, must be in
- AEnglish
- BFrench
- CEnglish & French
- Dthe developer has violated NJ law by providing not in English/Spanish
20an apartment is listed with a rental referral agency, but is NOT actively advertised to the public. how frequently must the agency check the apartments availability
- Aevery day
- Bevery other day
- Cevery 3 days
- Dweekly
21certification that legal restrictions have been reviewed with the certifying broker, is required for which license
- Asalesperson
- Bsalesperson- broker
- Cbroker
- Dreferral agent
22continuing ed requirements mandate at least 2 hours instruction in
- Aethics
- Blaw of agency
- Ccurrent financing options
- Dlocal issues
Information
- Description
- NJ Real Estate
- Author
- Gena G
- Language
- English
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- 7
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