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Real Estate Salesperson Exam — National Portion

Agency (NJ): practice questions

Our Real Estate (National) bank has 8 questions on this topic. Here are 5 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · New Jersey

A listing broker must notify the MLS of a new listing within how long of its effective date?

  1. 48 hours
  2. Five business days
  3. 72 hours
  4. 24 hours
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A. 48 hours — N.J.A.C. 11:5-6.4(f)1i.

Question 2 · New Jersey

How many business relationships must licensees describe to buyers and sellers under the Consumer Information Statement rule?

  1. Four
  2. Two
  3. Five
  4. Three
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A. Four — N.J.A.C. 11:5-6.9(a)8, (e).

Question 3 · New Jersey

What is required before a New Jersey firm acts as a disclosed dual agent?

  1. Delivery of the Consumer Information Statement to both parties alone
  2. Each party's signature on a separate writing showing informed consent
  3. Written approval of the Commission for that particular transaction
  4. Verbal consent from both parties recorded in the broker's file notes
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B. Each party's signature on a separate writing showing informed consent — N.J.A.C. 11:5-6.9(b).

Question 4 · New Jersey

A fully disclosed dual agent in a New Jersey sale may be paid by:

  1. Both parties, if the total stays under the listed rate
  2. Not both the buyer and seller, even with disclosure
  3. Both parties, if both agree in writing
  4. Both parties, if the Commission is notified
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B. Not both the buyer and seller, even with disclosure — N.J.A.C. 11:5-7.1(a).

Question 5 · New Jersey

When must a licensee verbally inform a buyer of the business relationships offered?

  1. Only after the buyer signs a written buyer-agency agreement
  2. Before the first discussion of the buyer's motivation or ability to buy
  3. At the closing, together with the final settlement statement
  4. Within five days after the first showing of any property
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B. Before the first discussion of the buyer's motivation or ability to buy — N.J.A.C. 11:5-6.9(e)1i.

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