Question 1 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link After receiving a written offer, a seller revises the offered purchase price and initials the change. The salesperson who prepared the offer then takes the only copy of the revised document back to the buyers. The licensee has violated the New Jersey Real Estate License Law by failing to A. initial the revisions the seller made B. provide a copy of the initialed revised offer to the seller C. request that the seller sign an addendum reflecting the revision D. consult with the broker before delivering the counteroffer to the buyer Submit Answer
Question 2 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link According to the New Jersey Real Estate License Law, a licensee who wants to sell property that the licensee owns must A. list the property with another licensee in the same office B. disclose the ownership interest in any advertisement of the property C. disclose the ownership interest in any notice submitted on the listing to the MLS D. disclose in the contract of sale that the seller holds a New Jersey real estate license Submit Answer
Question 3 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link A buyer is looking in several different cities for land to purchase for a shopping center. The buyer has decided to hire several real estate licensees, each representing the buyer in that licensee's city. Which type of agreement would protect the buyer from owing multiple commissions? A. exclusive agency representation B. nonexclusive right-to-lease C. nonexclusive buyer-agency D. exclusive right to sell Submit Answer
Question 4 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link A buyer wants to purchase a home for $160,000 with a 15% down payment. The lender charges 1.76 points. How much money does the buyer need up front to make the purchase? A. 22,600 B. 25,125 C. 22,894 D. 24,731 Submit Answer
Question 5 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Which of the following statements is the best example of puffing? A. Since the bus stop is only one block away, the home has excellent access to public transportation. B. This is the best buy you'll find all year. C. This home has been fitted with double-paned windows, as can be seen in the brochure. D. This property has a net property income of $7,500. Submit Answer