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[Hardware] Valid New-Jersey-Real-Estate-Salesperson Test Practice, New-Jersey-Real-Estate-S

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【Hardware】 Valid New-Jersey-Real-Estate-Salesperson Test Practice, New-Jersey-Real-Estate-S

Posted at 1/26/2026 04:26:03      View：68 | Replies：2        Print      Only Author   [Copy Link] 1#
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Real Estate New Jersey Real Estate Salesperson Exam Sample Questions (Q118-Q123):NEW QUESTION # 118
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. Six-family dwelling unit, a portion of which is used for non-residential purposes
  • B. Commercial building that does not exceed 10,000 square feet
  • C. Subdivision of fifteen or more lots
  • D. Single family residential vacant lot
Answer: D
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 # 119
When MUST a listing broker provide a copy of a fully executed written listing agreement to the owner?
  • A. Within three days of execution of the listing agreement by registered mail, return-receipt-requested
  • B. At the time of presentation of a written offer
  • C. Upon execution of the listing agreement by all parties
  • D. Within five business days of execution of the listing agreement
Answer: C
Explanation:
According to N.J.A.C. 11:5-6.9, every party signing a real estate listing agreement must receive a duplicate original immediately upon execution.
The copy must be delivered at the time of signing, not later.
This ensures transparency and protects both the seller and the broker.
Therefore, the correct answer is A.
Reference: NJREC Rules and Regulations, N.J.A.C. 11:5-6.9; NJ Real Estate Salesperson Study Guide, Chapter on Listing Agreements.

NEW QUESTION # 120
A lender whose mortgagor has defaulted may be offered a deed in lieu of foreclosure. If accepted, which of the following will be true?
  • A. The lender will usually retain rights under mortgage insurance or VA guarantee.
  • B. Because it is voluntary, it will not be an adverse item on the buyer's credit.
  • C. The lender will take the title subject to any junior liens.
  • D. The loan will still be assumable.
Answer: C
Explanation:
A deed in lieu of foreclosure is sometimes called a "friendly foreclosure." The borrower voluntarily conveys title to the lender to avoid foreclosure proceedings.
However, the lender accepts the property subject to any junior liens or encumbrances already on the title.
It is still an adverse credit event for the borrower.
The loan is extinguished and cannot be assumed afterward.
Thus, the correct answer is B.
Reference: NJ Real Estate Salesperson Study Guide, Chapter on Foreclosure and Alternatives.

NEW QUESTION # 121
New Jersey Real Estate Commission regulations require a licensee to terminate membership in a real estate board or multiple listing service whenever the organization:
  • A. suggests uniform commission rates among all member brokers
  • B. lobbies against legislation that the licensee personally favors
  • C. charges dues that the licensee feels are excessive
  • D. advocates rules, practices, and/or standards with which the licensee does not agree
Answer: A
Explanation:
The NJ Real Estate Commission prohibits price-fixing or collusion regarding commission rates. If a real estate board, trade association, or MLS suggests or enforces uniform commission rates among member brokers, participation in such a practice would violate antitrust laws as well as NJREC regulations.
In such cases, licensees must terminate their membership immediately to avoid disciplinary action. Lobbying, dues disputes, or general disagreements with rules are not grounds for mandatory termination.
Reference: NJREC Rules and Regulations; NJ Real Estate Salesperson Study Guide, Chapter on Antitrust and Commission Rules.

NEW QUESTION # 122
A salesperson is selling a leased commercial property. What will happen to the lease after the sale is consummated?
  • A. The lease expires and the tenant must move.
  • B. The lease is assigned to the new owner.
  • C. The new owner has the option of canceling the lease or accepting the lease.
  • D. The tenant and the new owner must negotiate a new lease.
Answer: B
Explanation:
In New Jersey, under landlord-tenant law, a lease is considered a contract that runs with the land. When a property is sold while a lease is in effect, the new owner automatically assumes the rights and responsibilities of the landlord under the existing lease.
The tenant does not need to renegotiate and cannot be forced to vacate until the lease term expires, unless both parties agree otherwise. This transfer is known as an assignment of lease to the new owner.
Therefore, the correct answer is A.
Reference: NJ Real Estate Salesperson Pre-Licensure Course Guide, Chapter on Leases; NJ Landlord-Tenant Law principles.

NEW QUESTION # 123
......
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