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20 Cards in this Set

  • Front
  • Back
a licensed salesperson is allowed to
leave one brotker and affiliate with another
under some circumstances, a real estate office may be in the home of
broker waldo wants to open a branch office in a new shopping mall in the next town. the office can be supervised by
a broker-salesperson
salesman stan accepts an earnest money deposit and turns over to his broker, roberta. roberta must
deposit it within 5 days in a trust account
an escrow account may be opened in
any authorized NJ financial institution
a broker must keep copies of
contracts for six years
every person who signs a contract is entitled to receive a duplicate original. when are they entitles to receive it
every sales contract prepared by a broker must contain a notice that
the buyer and seller may seek attorney review within three business days
even when the broker is the sellers agent, buyers are entitled to
fair dealing
for a first offense, the real estate commission could fine a license as much as
the commision will rule that someone could never again get a license after how many violations
salesperson joe is indicted for possession of controlled substance with intent to sell and is out on bail until the trial. the real estate commission may
suspend his license
the real estate commission must give a licensee how much notice before a hearing is held on a possible violation
10 days
sun city realy holds a door prize drawing at a weekend open house it runs. this practice
violates the commissions rules
donna, a broker, is offerring her mothers house for sale and will charge no commission. should she reveal that she is a licensed agent
yes, as soon as she meets a prospective buyer
which of the following statements about broker-run advertisements in newspapers is correct
advertising offerring free appraisals is prohibited. although CMA's are permitted
the "reasonable effort" licensees are required to make to determine all materail information about property's physical condition could normally include all of the following except
contracting with a professional to perform an indepth inspection of the property prior to entering into any agency agreement with the seller
a NJ licensee is permitted to represent both parties to a transaction if he or she obtains the
informed, written consent of the seller, buyer and any other agent involved
any agreement between competing offices to establish standard commission rates is referred to as
illegal price fixing
a salesperson working for Broker Betty was disciplined for pursuing a flagrant and continued course of misrepresentations, making false promises, and failing to pay over money belonging to others. in this case, betty's license
will be suspended or revoked only if betty knew about the salespersons activities and did nothing about it