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[General] New-Jersey-Real-Estate-Salesperson Test Score Report | New-Jersey-Real-Estate-Sa

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【General】 New-Jersey-Real-Estate-Salesperson Test Score Report | New-Jersey-Real-Estate-Sa

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Real Estate New Jersey Real Estate Salesperson Exam Sample Questions (Q117-Q122):NEW QUESTION # 117
Which of the following statements correctly describes a standard feature of a buyer-agency agreement?
  • A. A retainer fee is normally paid at the time the agreement is signed.
  • B. The source of compensation determines the agency relationship.
  • C. It establishes a fiduciary relationship with the buyer.
  • D. A buyer-agency agreement is an option rather than an employment contract.
Answer: C
Explanation:
Under the New Jersey Real Estate Commission rules on agency disclosure and the Salesperson Study Guide (Chapter on Buyer Agency):
A buyer-agency agreement is a form of employment contract creating a fiduciary relationship between the buyer and the broker.
A is incorrect because it is not just an option; it's a binding agreement.
B may or may not be true - a retainer fee is not required in NJ.
C is false because the source of compensation does not determine agency; agency is determined by the agreement and consent of the parties.
D is correct: a buyer-agency agreement creates fiduciary duties such as loyalty, disclosure, confidentiality, and obedience to the buyer.
Reference: NJ Real Estate Salesperson Pre-Licensure Course Study Guide, Agency & Fiduciary Duties section; NJREC Agency Disclosure Rules.

NEW QUESTION # 118
Prospective buyers asked the licensee representing them if it would be a good idea to check the property they wish to purchase for radon. The licensee's best response would be to tell the buyers that:
  • A. it is unlikely that radon would be a problem in that area.
  • B. they should do so, because radon is now considered to be one of the causes of lung cancer.
  • C. as long as they are non-smokers, it should not be an issue.
  • D. they need not do so, because if radon were present, there would be an odor that would make it easy to detect.
Answer: B
Explanation:
Radon is a colorless, odorless, radioactive gas linked to lung cancer.
The EPA and NJDEP recommend testing homes for radon regardless of location.
Licensees should never minimize the risk or falsely suggest it is detectable by odor.
The best professional response is to recommend that buyers test for radon because it is a known health risk.
Correct answer = C.
Reference: NJDEP Radon Hazard Program; NJ Real Estate Salesperson Study Guide, Chapter on Environmental Issues.

NEW QUESTION # 119
A property that contains a 2,500-square-foot house has a land value of $45,000. The house suffers from
$7,000 of physical depreciation and $2,500 of functional obsolescence. If the replacement cost of the house is
$75 per square foot, what is the value of the property?
  • A. $187,500
  • B. $223,000
  • C. $178,000
  • D. $232,500
Answer: B
Explanation:

Reference: NJ Real Estate Salesperson Study Guide, Chapter on Appraisal (Cost Approach Method).

NEW QUESTION # 120
Standard title insurance would protect a buyer:
  • A. in a purchase where the buyer had knowledge of a shed violating setback requirements.
  • B. for the purchase of a property bought sight unseen where the buyer discovers a tenant living at the property.
  • C. if after closing, the HOA placed a lien on the property for the previous owners' unpaid dues.
  • D. when the seller has forged an ex-partner's signature on the deed.
Answer: D
Explanation:
Standard title insurance protects against defects in title that existed before closing, such as forged documents, undisclosed heirs, or improperly executed deeds.
It does not cover issues arising after closing (like new HOA liens).
It does not protect against defects the buyer already knew about.
It also does not insure physical possession or condition of property.
Thus, the correct answer is A.
Reference: NJ Real Estate Salesperson Study Guide, Chapter on Title and Title Insurance.

NEW QUESTION # 121
Under New Jersey Real Estate Commission rules, a licensee's obligations to the public include all of the following responsibilities EXCEPT:
  • A. disclosing material defects in a property to a prospective purchaser
  • B. protecting and promoting the interests of the licensee's principal when acting as an agent
  • C. accepting any reasonable commission offered by a seller in the course of negotiating a listing agreement
  • D. dealing honestly with all parties
Answer: C
Explanation:
According to NJREC Rules (N.J.A.C. 11:5-6.3 and 11:5-6.4), obligations to the public include:
Dealing honestly and fairly with all parties.
Disclosing material defects known to the licensee.
Protecting and promoting the interests of the principal when acting as agent.
There is no requirement that a licensee must accept "any reasonable commission" offered. Commission rates are always negotiable and must be agreed upon voluntarily.
Correct answer = A.
Reference: NJREC Rules and Regulations; NJ Real Estate Salesperson Study Guide, Chapter on Fiduciary Duties.

NEW QUESTION # 122
......
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