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New Jersey
Real Estate Salesperson
Final Assessment (Qns & Ans)
2025
General Instructions
1. Read All Questions Carefully: Make sure you understand each question.
2. Time Management: You have a specific amount of time to complete the exam.
Keep an eye on the clock and pace yourself.
- Allowed Materials: Only use materials that are explicitly allowed. Unauthorized
materials can lead to disqualification.
4. ANS Format: Follow the required format for your ANS. For example, multiple-
choice questions might need you to select the best ANS, while essay questions require detailed responses.
- Academic Integrity: Adhere to the university's honor code. Any form of cheating or
plagiarism is strictly prohibited.
6. Technical Requirements: Ensure your computer and internet connection are
stable. For online exams, you might need a webcam and microphone for proctoring purposes.
7. Submission: Submit your ANS before the time expires. Late submissions might
not be accepted.
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- What is the primary goal of risk management in real estate?
- Increase commission
- Minimize potential loss
- Promote properties
- Reach sales targets
Correct ANS: B. Minimize potential loss
- Which of the following is considered a natural hazard risk in
- Market fluctuations
- Environmental contamination
- Flooding
- Title disputes
real estate?
Correct ANS: C. Flooding
- What type of insurance is essential for protecting real estate
- Property insurance
- Professional liability insurance
- General liability insurance
agents against claims of negligence?
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- Homeowners insurance
Correct ANS: B. Professional liability insurance
- Which risk management technique involves transferring risk
- Retention
- Avoidance
- Reduction
- Transfer
to another party?
Correct ANS: D. Transfer
Contract Law
- What is the consequence of a contract being deemed void due
- The contract is enforceable
- The contract is binding
- The contract has no legal effect
- The contract may be upheld with modifications
to lack of capacity?
Correct ANS: C. The contract has no legal effect
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- Which element is NOT required for a contract to be legally
- Offer
- Acceptance
- Witness
- Consideration
binding?
Correct ANS: C. Witness
- In New Jersey, what term refers to the standard form of real
- Uniform Residential Contract
- New Jersey Purchase Agreement
- Realtor’s Standard Agreement
- Real Estate Transfer Agreement
estate contract used in residential transactions?
Correct ANS: B. New Jersey Purchase Agreement
- When can a buyer rescind a contract under New Jersey law?
- Anytime before closing
- Within three days after signing
- After an attorney review
- Only if both parties agree
