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A real estate broker's maintained place of business MUST conspicuously display on the exterior the broker's name and the word(s):
A. Realtor
B. Real Estate Broker
C. Licensed Real Estate Broker
D. Licensed Realtor
Answer: C
Explanation:
According to N.J.A.C. 11:5-6.1, every broker's main office must have a sign on the exterior that is visible to the public. The sign must display the broker's name and the exact words "Licensed Real Estate Broker." This is a mandatory requirement to ensure public identification of licensed brokerage offices.
Using terms like "Realtor" is optional and only permitted if the broker is a member of the National Association of REALTORS, but the law specifically requires the words Licensed Real Estate Broker.
Reference: NJ Real Estate Commission Rules and Regulations, N.J.A.C. 11:5-6.1 (Office Requirements and Signage).
NEW QUESTION # 64
The main purpose of a deed is to
A. record and acknowledge title transfer.
B. convey title.
C. guarantee clear title.
D. provide documentation of legal possession.
Answer: B
Explanation:
Per the Property Ownership & Transfer section of the NJ Real Estate Salesperson Study Guide, the primary purpose of a deed is to transfer ownership (title) from the grantor to the grantee.
* A deed does not guarantee clear title (that would require a warranty or title insurance).
* A deed is not proof of possession; possession may occur without ownership.
* Recording and acknowledgment serve notice, but the deed's legal function is the act of conveyance.
Therefore, the correct answer is A: convey title.
(Reference: NJ Real Estate Salesperson Pre-Licensure Course Study Guide, Transfer of Title-Deeds.) D). verbally inform any buyer's agent of the proposed revision.
NJ Real Estate Agent said:
NEW QUESTION # 65
Two parcels of land priced at $2,100 per acre were purchased. One parcel was 5 acres in size, and the other was 1 square mile in size. How much should these two parcels have cost together?
A. $766,000
B. $1,060,500
C. $1,354,500
D. $914,760
Answer: B
NEW QUESTION # 66
A licensee must provide a Consumer Information Statement in all of the following transactions EXCEPT the:
A. lease of a three-bedroom apartment for one year
B. sale of a vacant one-family lot
C. sale of a three-family house in a mixed-use zone
D. sublease of a studio apartment for two months
Answer: D
Explanation:
The Consumer Information Statement (CIS) must be used in all sales of 1-4 family residential properties and all residential lease transactions of 1-4 units that are for terms longer than 125 days.
A short-term rental or sublease (two months) does not require a CIS.
Correct answer = C.
Reference: N.J.A.C. 11:5-6.9; NJ Real Estate Salesperson Study Guide, Chapter on Consumer Information Statement.
NEW QUESTION # 67
Evergreen bushes and apple trees on a property that were planted by the current owner are examples of:
A. chattels
B. trade fixtures
C. personal property
D. real estate
Answer: D
Explanation:
Natural attachments (trees, bushes, perennial plants) are part of the land and thus real estate.
Annual crops (emblements) are considered personal property.
Chattels = movable personal property.
Trade fixtures = items installed by a tenant for business use.
Correct answer = A.
Reference: NJ Real Estate Salesperson Study Guide, Chapter on Real vs. Personal Property.
NEW QUESTION # 68
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