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[General] New-Jersey-Real-Estate-Salesperson Test Assessment | New New-Jersey-Real-Estate-

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【General】 New-Jersey-Real-Estate-Salesperson Test Assessment | New New-Jersey-Real-Estate-

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Real Estate New Jersey Real Estate Salesperson Exam Sample Questions (Q68-Q73):NEW QUESTION # 68
A city has built a new library and has contacted the broker to list and sell the old library building. Which approach should the broker use to estimate the fair market value for the purpose of listing and selling this property?
  • A. income approach
  • B. sales comparison
  • C. gross rent multiplier
  • D. replacement cost
Answer: D
Explanation:
For special-purpose properties such as schools, churches, libraries, or government buildings, there are typically few comparable sales and the properties are not income-producing.
In these cases, appraisers use the cost (replacement) approach, which estimates the value by calculating the cost of replacing the structure minus depreciation, plus land value.
Correct answer: C. replacement cost.
Reference: NJ Real Estate Salesperson Study Guide, Chapter on Appraisal Methods (Cost Approach for Special-Purpose Properties).

NEW QUESTION # 69
The Freshwater Wetlands Protection Act of 1987 is a New Jersey law that:
  • A. requires environmental impact statements to be filed with the New Jersey Department of Environmental Protection before title to developed real estate can be transferred
  • B. restricts development of real estate in certain designated areas
  • C. empowers the New Jersey Department of Environmental Protection to acquire title to certain real estate for less than its fair market value through condemnation
  • D. requires the registration of residential development projects with the New Jersey Department of Community Affairs
Answer: B
Explanation:
The Freshwater Wetlands Protection Act (1987) gives the New Jersey Department of Environmental Protection (NJDEP) the authority to regulate activities in freshwater wetlands and transition areas (buffer zones). Its primary purpose is to restrict development in wetlands and certain protected areas to preserve environmental resources.
It does not require environmental impact statements prior to transfer of title, does not authorize below-market condemnation, and is unrelated to DCA residential project registration.
Reference: New Jersey Real Estate Salesperson Pre-Licensure Course Guide, Chapter on Environmental Issues; Freshwater Wetlands Protection Act, N.J.S.A. 13:9B-1 et seq.

NEW QUESTION # 70
Which of the following items would be prorated at closing with the credit going to the seller?
  • A. prepaid property taxes
  • B. unearned rent collected in advance
  • C. earnest money
  • D. accrued interest on an assumed mortgage
Answer: A
Explanation:
Prepaid items (like property taxes already paid by seller) are prorated at closing, with the buyer reimbursing the seller for the period after closing. The credit therefore goes to the seller.
Accrued interest is typically credited to the buyer (since the seller owes it).
Earnest money is applied to buyer's costs, not prorated.
Unearned rent collected in advance is credited to the buyer, since the seller must pass future rent benefit to the buyer.
Correct answer = B.
Reference: NJ Real Estate Salesperson Study Guide, Chapter on Closings and Prorations.

NEW QUESTION # 71
According to the New Jersey Law Against Discrimination, which of the following descriptions may be used in advertising properties in a townhome development?
  • A. Singles only
  • B. Ethnic neighborhood
  • C. Senior housing
  • D. Close to synagogues and churches
Answer: C
Explanation:
Under the New Jersey Law Against Discrimination (LAD) and HUD advertising guidelines:
Ads cannot reference religion, ethnicity, or familial status (e.g., "singles only" or "close to synagogues").
However, housing for older persons (senior housing) is a permitted exception under the Housing for Older Persons Act (HOPA).
Correct answer = D. Senior housing.
Reference: NJ Law Against Discrimination (N.J.S.A. 10:5-1 et seq.); HUD Fair Housing Advertising Guidelines.

NEW QUESTION # 72
A landlord may require that a disabled tenant
  • A. not install grab bars in the tile shower if drilling holes in the tile is required.
  • B. pay double the usual $500 security deposit.
  • C. remove the wheelchair ramp from the apartment upon vacating the unit.
  • D. pay an additional fee for using the swimming pool to cover the added insurance cost.
Answer: C
Explanation:
Under the Federal Fair Housing Act (as applied in New Jersey), landlords must permit disabled tenants to make reasonable modifications to the premises at the tenant's expense, such as installing ramps or grab bars.
However:
The landlord cannot charge additional fees (answers A and B are discriminatory).
The landlord cannot prohibit installation of necessary accessibility aids (answer D is illegal).
The landlord can require the tenant to restore the property to its original condition upon vacating, which includes removing modifications such as ramps if they were installed.
Therefore, the correct answer is C.
Reference: NJ Real Estate Salesperson Pre-Licensure Course Guide, Chapter on Fair Housing; Federal Fair Housing Act, Title VIII.

NEW QUESTION # 73
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