semplr.

Exams · Certifications · Licensing

Real Estate Salesperson Exam — National Portion

Agreements (NJ): practice questions

Our Real Estate (National) bank has 5 questions on this topic. Here are 3 of them with answers; the full mock exam draws from every topic, like the real one.

Start the free mock exam

Question 1 · New Jersey

Unless their written agreement sets another schedule, how soon must a broker pay a salesperson's share after receiving the commission?

  1. Within 3 business days, whether or not funds clear
  2. Within 10 business days, or once the funds clear
  3. At the end of the calendar quarter of the closing
  4. Within 30 calendar days of the closing of title
Show the answer

B. Within 10 business days, or once the funds clear — N.J.A.C. 11:5-4.1(a)2.

Question 2 · New Jersey

Licensee-prepared residential leases must contain the attorney review clause when the term is at least:

  1. Two years
  2. One year
  3. Six months
  4. Any length
Show the answer

B. One year — N.J.A.C. 11:5-6.2(g)4.

Question 3 · New Jersey

What type of listing is prohibited in New Jersey?

  1. Exclusive agency listing
  2. Exclusive right to sell listing
  3. Open listing
  4. Net listing
Show the answer

D. Net listing — N.J.A.C. 11:5-6.2(f).

More Real Estate (National) topics