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[Hardware] Real Estate New-Jersey-Real-Estate-Salesperson Test Testking | New-Jersey-Real-E

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【Hardware】 Real Estate New-Jersey-Real-Estate-Salesperson Test Testking | New-Jersey-Real-E

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Real Estate New Jersey Real Estate Salesperson Exam Sample Questions (Q87-Q92):NEW QUESTION # 87
A buyer and broker enter into a 3-month exclusive buyer agency agreement. With regard to the broker's right to be compensated and to work with other clients, this means that during the term of this agreement, the broker
  • A. is entitled to compensation even if the buyer purchases a property that they locate.
  • B. must be compensated by the seller.
  • C. may not show a property to other buyers until the buyer decides if they want to make an offer.
  • D. is only due compensation if the buyer purchases one of the broker's listings.
Answer: A
Explanation:
Under an Exclusive Buyer Agency Agreement, the buyer agrees that the broker is their exclusive representative during the term. This creates a contractual right for the broker to be compensated regardless of who finds the property. If the buyer purchases any property during the agreement period (even one they personally locate or one listed by another brokerage), the broker is still entitled to commission as agreed.
The broker is not restricted from showing properties to other buyers at the same time, as fiduciary obligations run individually to each client.
Reference: New Jersey Real Estate Salesperson Pre-Licensure Course Study Guide, Chapter on Agency Relationships; NJREC Buyer Representation Agreements.

NEW QUESTION # 88
A tenant has a commercial lease that requires that the tenant pay taxes, insurance, maintenance, and parking lot repairs. What kind of lease does the tenant have?
  • A. gross
  • B. percentage
  • C. ground
  • D. net
Answer: D
Explanation:
A net lease requires the tenant to pay some or all operating expenses, including taxes, insurance, maintenance, and sometimes repairs. Commercial leases often use this form (single, double, or triple net).
A gross lease means the landlord pays all expenses.
A ground lease is long-term land rental.
A percentage lease ties rent partly to sales volume.
This is a net lease.
Reference: NJ Real Estate Salesperson Study Guide, Chapter on Leases and Property Management.

NEW QUESTION # 89
A licensee must provide a Consumer Information Statement in all of the following transactions EXCEPT the:
  • A. sale of a vacant one-family lot
  • B. sale of a three-family house in a mixed-use zone
  • C. lease of a three-bedroom apartment for one year
  • 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 # 90
Which of the following statements would most likely be considered mere "puffing"?
  • A. Children from this neighborhood have the highest SAT scores.
  • B. This area is expected to increase in value by 25% within the next year.
  • C. The utility costs in this home are lower than in any other home in the neighborhood.
  • D. This lot has the most beautiful view of the lake.
Answer: D
Explanation:
Puffing = exaggeration or subjective opinion that no reasonable person would take as fact (e.g., "most beautiful view").
Statements of fact (e.g., predicted appreciation %, test scores, or utility costs) could be misrepresentation if untrue.
Thus, "This lot has the most beautiful view of the lake" = puffing.
Correct answer = B.
Reference: NJ Real Estate Salesperson Study Guide, Chapter on Ethics and Misrepresentation.

NEW QUESTION # 91
A prospective buyer calls a licensed New Jersey salesperson to inquire about a property listed with that salesperson's brokerage. During the first substantive discussion about the property's price and terms, the salesperson must
  • A. wait until the buyer is ready to make an offer before presenting the CIS.
  • B. provide the CIS at closing when all agency relationships are finalized.
  • C. immediately provide the Consumer Information Statement (CIS).
  • D. only provide the CIS if the buyer asks for agency representation.
Answer: C
Explanation:
Under New Jersey Real Estate Commission (NJREC) Regulations, licensed brokers and salespersons are required to provide the Consumer Information Statement (CIS) to clients and customers at the first substantive discussion about the price, terms, or motivation regarding a specific property.
The purpose of the CIS is to disclose to the consumer the various types of business relationships available in New Jersey (seller's agent, buyer's agent, disclosed dual agent, and transaction broker) and to clarify how the licensee intends to work with them.
Important rules from N.J.A.C. 11:5-6.9:
* The CIS must be given before any confidential information is disclosed or before an offer is written
, whichever occurs first.
* A "first substantive contact" means when a buyer or seller begins discussing financial or personal motivation about the transaction.
* Failing to provide the CIS at the proper time is considered a violation of agency disclosure requirements and can subject the licensee to disciplinary action by NJREC.
Therefore, the correct answer is A, because the CIS must be provided immediately at the first substantive discussion.
Reference: New Jersey Real Estate Commission, Rules and Regulations, N.J.A.C. 11:5-6.9 (Agency Disclosure / Consumer Information Statement); New Jersey Real Estate Salesperson Pre-Licensure Course Study Guide, Chapter on Agency and Business Relationships.

NEW QUESTION # 92
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