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Real Estate New Jersey Real Estate Salesperson Exam Sample Questions (Q112-Q117):

NEW QUESTION # 112
A broker maintains a real estate agency and terminated two salespersons. In this situation, the broker is REQUIRED to take all the following actions with regard to these two salespersons EXCEPT:

A. provide each with a written accounting of all monies due each salesperson.
B. pay any undisputed compensation due within ten days of the broker's receipt of such funds.
C. permit them to remove original sales or listing contracts from the broker's office.
D. abide by the post-termination compensation clause contained in their employment agreements or provide a written explanation for not doing so.

Answer: C

Explanation:
According to NJREC Rules and Regulations (N.J.A.C. 11:5-4.1) and the Broker-Salesperson employment agreement requirements:
Brokers must provide a full written accounting of monies due.
Any undisputed commission due must be paid within 10 business days of the broker receiving the funds.
The broker must honor the compensation provisions of the terminated salesperson's written employment agreement.
However, salespersons are not permitted to remove original sales or listing contracts, which remain the property of the broker.
Therefore, the action the broker is NOT required to take is B.
Reference: NJREC Rules and Regulations, N.J.A.C. 11:5-4.1 (Employment Agreements and Compensation).

NEW QUESTION # 113
Two real estate firms shared equally a 6% commission on the sale of a house. The listing licensee was paid
60% of the broker's share. The house was sold for $110,000. How much did the listing agent earn?

A. $1,980
B. $2,640
C. $1,320
D. $3,980

Answer: A

Explanation:
Calculation (Finance/Math section of the NJ Real Estate Salesperson Pre-Licensure Course Study Guide):
* Total commission = $110,000 × 6% = $6,600
* Two firms split equally: each broker gets $3,300
* Listing licensee paid 60% of broker's share: $3,300 × 0.60 = $1,980
Thus, the listing agent's earnings are $1,980.
(Reference: NJ Real Estate Salesperson Pre-Licensure Course Study Guide, Math for Salespersons- Commission Splits.)

NEW QUESTION # 114
The primary intent of the statute of frauds is to:

A. protect the rights of buyers who are disabled.
B. enforce oral agreements beyond 1 year.
C. protect licensees from fraudulent activity.
D. reduce real estate contracts to writing.

Answer: D

Explanation:
The Statute of Frauds (as adopted in New Jersey) requires that certain contracts be in writing to be enforceable, including:
Contracts for the sale of real estate.
Leases longer than 3 years.
Certain other long-term agreements.
Its purpose is to prevent fraud and misunderstandings by requiring written evidence of important contracts.
Reference: N.J.S.A. 25:1-13; NJ Real Estate Salesperson Study Guide, Chapter on Contracts.

NEW QUESTION # 115
An intoxicated buyer made an offer on a house. The owners accepted the offer. This contract is

A. void.
B. illegal.
C. unilateral.
D. voidable.

Answer: D

Explanation:
Per the Contracts chapter of the NJ Real Estate Salesperson Pre-Licensure Course Study Guide, contractual capacity is required. Agreements entered into by a party who is intoxicated to the point of incapacity are voidable at that party's option (once sober), not void per se. The contract is not illegal, and it's bilateral (both parties promise performance), not unilateral.
* Thus, the contract is voidable by the intoxicated party.
(Reference: NJ Real Estate Salesperson Pre-Licensure Course Study Guide, Contracts-Capacity; Void vs.
Voidable Contracts.)

NEW QUESTION # 116
The local gas company has a 10-foot easement along the rear of a residential lot. This is best known as an easement:

A. by prescription
B. in gross
C. by necessity
D. appurtenant

Answer: B

Explanation:
An easement in gross benefits a utility company or individual, not a dominant parcel of land.
It attaches to the utility provider, not another property.
Appurtenant easements benefit adjoining landowners.
By necessity arises when a parcel is landlocked.
By prescription arises through long-term adverse use.
This utility easement is an easement in gross = A.
Reference: NJ Real Estate Salesperson Study Guide, Chapter on Easements and Encumbrances.

NEW QUESTION # 117
......

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New Jersey Real Estate Salesperson Exam Updated Torrent - New-Jersey-Real-Estate-Salesperson exam pdf & New Jersey Real Estate Salesperson Exam Practice questions

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Real Estate New Jersey Real Estate Salesperson Exam Sample Questions (Q112-Q117):

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