Title: 100% Pass Quiz Useful Real Estate - New-Jersey-Real-Estate-Salesperson Actual Ex [Print This Page] Author: glenree472 Time: yesterday 23:21 Title: 100% Pass Quiz Useful Real Estate - New-Jersey-Real-Estate-Salesperson Actual Ex P.S. Free 2026 Real Estate New-Jersey-Real-Estate-Salesperson dumps are available on Google Drive shared by PrepAwayExam: https://drive.google.com/open?id=1i68dw05lqHz0fX0zsWoBYPXsRyYLH7XZ
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If an owner wants to list a property for sale "as is," the listing agent should:
A. question the seller as to any known defects.
B. assume that the owner will accept a relatively low price for the property.
C. assume that the house is a "fixer-upper."
D. conclude that if the buyer later discovers defects that were not disclosed the listing agent is relieved of any responsibility.
Answer: A
Explanation:
"As is" does not relieve a seller or listing agent from disclosure obligations.
The licensee must still make reasonable inquiries about known defects.
All material facts must be disclosed, regardless of the "as is" designation.
"As is" simply means the seller will not make repairs or improvements.
Thus, the agent must ask the seller about known defects = C.
Reference: NJREC Rules and Regulations on Disclosure; NJ Real Estate Salesperson Study Guide, Chapter on Seller Disclosures and "As Is" Sales.
NEW QUESTION # 21
A public utility company is installing power lines across several counties. Will the utility company be more likely to be granted an easement appurtenant or an easement in gross?
A. easement appurtenant because it cannot run with the land
B. easement in gross because it allows the holder of the easement to eventually gain title to the encumbered property
C. easement in gross because it does not require ownership of real property adjacent to the property that is subject to the easement
D. easement appurtenant because it cannot be extinguished by merger of the dominant and servient tenements
Answer: C
Explanation:
An easement in gross benefits a person or entity, rather than another parcel of land. Unlike an easement appurtenant, which requires a dominant and servient estate (two adjoining parcels), an easement in gross does not require ownership of adjacent property.
Utility companies (electric, gas, water, sewer, cable) typically hold easements in gross, allowing them to install and maintain lines across multiple properties. The easement is granted to the utility company, not to a neighboring landowner.
Therefore, the correct answer is C.
Reference: NJ Real Estate Salesperson Pre-Licensure Course Guide, Chapter on Interests in Real Estate (Easements); NJ Property Law principles on easements.
NEW QUESTION # 22
A lender whose mortgagor has defaulted may be offered a deed in lieu of foreclosure. If accepted, which of the following will be true?
A. Because it is voluntary, it will not be an adverse item on the buyer's credit.
B. The lender will take the title subject to any junior liens.
C. The loan will still be assumable.
D. The lender will usually retain rights under mortgage insurance or VA guarantee.
Answer: B
Explanation:
A deed in lieu of foreclosure is sometimes called a "friendly foreclosure." The borrower voluntarily conveys title to the lender to avoid foreclosure proceedings.
However, the lender accepts the property subject to any junior liens or encumbrances already on the title.
It is still an adverse credit event for the borrower.
The loan is extinguished and cannot be assumed afterward.
Thus, the correct answer is B.
Reference: NJ Real Estate Salesperson Study Guide, Chapter on Foreclosure and Alternatives.
NEW QUESTION # 23
A married couple is purchasing a home. They ask the salesperson to advise them regarding the best way to take title. The salesperson should
A. ask a broker to make a recommendation.
B. explain the possible types of joint ownership so they understand the options.
C. decline to advise them and suggest that they consult an attorney.
D. advise them to take title as tenants by the entirety.
Answer: C
Explanation:
According to the NJ Real Estate Commission regulations on licensee conduct and the Salesperson Study Guide (Agency & Professional Practice section), licensees may explain types of ownership but must not give legal advice or recommend a specific method of taking title. Advising how to take title (e.g., tenants by the entirety, joint tenancy, tenancy in common) constitutes the practice of law. The proper action is to refer the buyers to an attorney.
Therefore, the correct answer is C.
(Reference: NJ Real Estate Salesperson Pre-Licensure Course Study Guide, Professional Responsibilities & Avoiding Unauthorized Practice of Law.)
NEW QUESTION # 24
Which of the following is a permitted free offering?
A. A free dinner for attendees at a homebuyers' evening seminar
B. A complimentary home warranty with every listing
C. Free use of a local moving van for all listings
D. A coupon for discounted commission on listing services
Answer: A
Explanation:
According to NJREC rules on inducements (N.J.A.C. 11:5-6.4):
Free offers to the general public (e.g., a dinner seminar or educational event) are permissible because they are not conditioned upon listing or buying.
Inducements like "home warranty with every listing," "discounted commissions," or "moving vans for clients only" are contingent on brokerage activity and are prohibited.
Thus, the permitted free offering is C.
Reference: NJREC Rules and Regulations, N.J.A.C. 11:5-6.4; NJ Real Estate Salesperson Study Guide, Chapter on Advertising and Inducements.
NEW QUESTION # 25
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