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| Section | Objectives |
|---|---|
| Land Use Controls and Regulations | |
| Valuation and Market Analysis | |
| Property Ownership | |
| Real Estate Practice and Disclosures | |
| Agency Relationships and Brokerage | |
| Contracts | |
| New Jersey Real Estate Law and Regulations | |
| Ethics and Professional Responsibility | |
| Financing and Settlement |
1. If a salesperson or broker-salesperson maintains a webpage that is not linked to the webpage of their broker, the licensee's webpage must display the name of the broker as well as the
A) address of the branch office from which the licensee operates.
B) broker's telephone number.
C) address of the broker's main office.
D) broker's email address.
2. A buyer who is purchasing a property intends to build a chain link fence in the backyard. There is a 12-year- old deed restriction that prohibits chain link fences. The licensee finds out that there are no city codes prohibiting chain link fences. Which of the following statements regarding this situation is true?
A) This deed restriction is more restrictive and will, therefore, take precedence.
B) This city code takes priority because deed restrictions expire 10 years after a subdivision is developed.
C) City code always takes priority over deed restrictions.
D) Deed restrictions always take priority over city codes.
3. According to the Real Estate Licensing Law, a real estate licensee can provide a rebate of the commission to a buyer
A) provided it does not exceed 50% of the total commission.
B) if a writing confirming the terms of the rebate is provided to the buyer at closing.
C) if the licensee is the broker.
D) if notated on the contract of sale.
4. Which of the following actions is a function of a municipal planning board?
A) Unilaterally approving subdivisions in a jurisdiction
B) Approving a variance for an addition to a garage on a residential property
C) Creating a master plan for all the land in a particular county
D) Prescribing and controlling the development and use of all land in a municipality
5. Salesperson P leaves the employ of Broker A. One of the listings at Broker A's firm has agreed to list with Salesperson P at the new firm. In this instance the listing file:
A) should be turned into the MLS.
B) should be given to the seller.
C) cannot be taken because it belongs to Broker A.
D) can be taken to the new firm so there is no interruption of service to the client.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: A | Question # 3 Answer: B | Question # 4 Answer: D | Question # 5 Answer: C |
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