PSI EXAM WITH COMPLETE SOLUTIONS

PSI EXAM WITH COMPLETE SOLUTIONS
Question (1): According to New Jersey Real Estate
Licensing Law, what is the maintenance requirement for
all records of Real Estate transactions?
CORRECT ANSWER: Files must be kept on premises
& available to public at any time.
Question (2): According to the New Jersey Real Estate
License Law, which of the following statements is
CORRECT concerning the terms of an employment
agreement?
CORRECT ANSWER: A broker may not authorize a
salesperson to act on the broker's behalf until a written
agreement is signed by the broker and the salesperson.
Question (3): According to the New Jersey Real Estate
Licensing Law, what method of payment may NOT be
accepted as an earnest money deposit on a sale
transaction?
CORRECT ANSWER: credit card

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