Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
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
|
|
|
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
|
immediately
|
|
|
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
|
5,000
|
|
|
the commision will rule that someone could never again get a license after how many violations
|
three
|
|
|
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
|
