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[General] Use Real Real Estate New-Jersey-Real-Estate-Salesperson Exam Questions [2026] To

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【General】 Use Real Real Estate New-Jersey-Real-Estate-Salesperson Exam Questions [2026] To

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Real Estate New Jersey Real Estate Salesperson Exam Sample Questions (Q119-Q124):NEW QUESTION # 119
As required by the New Jersey Real Estate Sales Full Disclosure Act, before signing any contract for the purchase or lease of a property registered with the New Jersey Real Estate Commission, the purchaser or lessee MUST be provided with a copy of the:
  • A. Statement of Record filed by the developer with the Commission
  • B. New Jersey Public Offering Statement approved by the Commission
  • C. deed or other instrument establishing title in the name of the developer
  • D. filed plat map identifying the location of the property being bought or leased
Answer: B
Explanation:
The New Jersey Real Estate Sales Full Disclosure Act (RESFDA) requires developers of certain subdivided land, condominiums, and other registered developments to provide purchasers or lessees with a Public Offering Statement approved by the New Jersey Real Estate Commission.
This Public Offering Statement contains essential information about the development, financial and legal obligations, and rights of buyers.
The Statement of Record is filed with the Commission but is not delivered to the purchaser.
Deeds or plat maps are not substitutes for the disclosure document required by law.
Thus, the correct answer is B.
Reference: N.J.S.A. 45:15-16.27 et seq., New Jersey Real Estate Sales Full Disclosure Act; NJ Real Estate Salesperson Study Guide, Chapter on Land Sales.

NEW QUESTION # 120
A married couple is planning to purchase a house that costs $86,000. If they obtain a 60% loan and the lender charges a 2.5% loan origination fee and 0.5 discount points, what is the cost of these expenses?
  • A. $1,548
  • B. $1,290
  • C. $2,150
  • D. $2,580
Answer: A
Explanation:

Reference: New Jersey Real Estate Salesperson Pre-Licensure Course Guide, Chapter on Financing and Loan Calculations.

NEW QUESTION # 121
Broker P is the sole proprietor of XYZ Realty. P employs five salespersons, all of whom have been practicing real estate for at least two years. Under the license law, if P should die, which of the following actions can be taken?
  • A. A salesperson holding a real estate license for at least three years can apply for a temporary broker's license in order to continue the firm's activity.
  • B. The most experienced salesperson can act as broker for a maximum of six months until a permanent replacement broker is licensed.
  • C. All sales contracts can be declared null and void and all salespersons will lose their licenses until establishing employment with another broker.
  • D. The Real Estate Commission can direct an experienced broker with another firm to conclude all pending business.
Answer: A
Explanation:
Under NJ Real Estate Commission (NJREC) licensing rules, when a broker of record dies or becomes incapacitated, a qualified salesperson with at least three years' experience may apply for a temporary broker's license to continue the firm's operations for a limited period while the firm arranges a permanent broker.
Existing agency contracts and transactions do not become void simply because of the broker's death.
* Therefore, D is correct.
* A is incorrect-contracts are not automatically void, and salespersons don't lose their licenses.
* B is not the prescribed process.
* C misstates both who may act and the time period; NJ uses a temporary broker's license mechanism for a qualified salesperson (experience requirement is three years).
(Reference: NJ Real Estate Salesperson Pre-Licensure Course Study Guide, Licensing-Broker of Record Death/Incapacity; NJREC Rules on temporary broker authority.)

NEW QUESTION # 122
A contract of sale prepared by a licensee MUST include an attorney review clause if it pertains to which of the following types of properties?
  • A. Subdivision of fifteen or more lots
  • B. Six-family dwelling unit, a portion of which is used for non-residential purposes
  • C. Single family residential vacant lot
  • D. Commercial building that does not exceed 10,000 square feet
Answer: C
Explanation:
According to the New Jersey Supreme Court Mandated Attorney Review Clause (as adopted by NJREC, N.J.
A).C. 11:5-6.2(g)), all contracts prepared by licensees for the sale of one-to-four family residential properties and residential vacant lots must contain the three-day attorney review clause.
The purpose is to protect consumers in residential transactions by giving them the right to have their attorney review and potentially cancel or modify the contract within three business days.
Therefore, the correct answer is D, because the attorney review clause is mandatory for contracts involving a single-family residential vacant lot.
Reference: NJREC Rules and Regulations, N.J.A.C. 11:5-6.2(g); NJ Attorney Review Clause Requirement, New Jersey Real Estate Salesperson Pre-Licensure Course Guide.

NEW QUESTION # 123
A home sold for $400,000. It was appraised for $402,000, and the assessed value was $320,000. Assume in this situation, the real estate transfer tax of 1% is paid by the grantee. How much will the seller owe at closing for transfer fees?
  • A. $4,020
  • B. $0
  • C. $4,000
  • D. $3,200
Answer: B
Explanation:
In New Jersey, the Realty Transfer Fee (RTF) is typically paid by the seller, but the question specifies that the tax is paid by the grantee (buyer). When the buyer pays the transfer tax, the seller does not owe any amount at closing for transfer fees.
Additionally, the RTF is calculated based on the consideration amount (sale price), not the appraised or assessed value. But since liability is shifted to the buyer here, the seller's responsibility = $0.
Reference: New Jersey Realty Transfer Fee Statute, N.J.S.A. 46:15-7; New Jersey Real Estate Salesperson Study Guide, Chapter on Closing and Transfer Taxes.

NEW QUESTION # 124
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