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NJ RE Exam 2022 Questions with Complete Solutions

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NJ RE Exam 2022 Questions with Complete Solutions 1 / 11 1. A secretary in a real estate office who does NOT have a real estate license may:: B. perform bookkeeping functions concerning escrowed funds 2. When a land owner uses his land as security for a loan, the encumbrance created is called.: C. an involuntary lien 3. Under the New Jersey Licensing Law, which of the following is an unlicensed assistant or secretary NOT permitted to do?: A. Type contracts for Approval 4. Under what conditions may a salesperson accept a bonus offered by seller for service rendered?: C. the seller pays the broker who passes it on to the salesperson 5. Jones and Halstead lice across the street from each other in a subdivision in which homeowners are prohibited by deed restriction from keepinglarge animals on their property. Jones discovers that Halstead is keeping aShetland pony in the backyard. Can Jones take action to enforce the deed restriction?: A. Yes, because Jones can force any other property owner in the subdivision to comply with deed restrictions. 6. IN order to collect a commission, which of the following is a REQUIREMENT for a broker with an open listing?: C. the broker or one of his licensees must be the procuring cause of sale 7. The lead paint addendum that MUST be presented with the purchase and sale contract for certain older homes will: B. provide the buyer with the opportunity to waive the right to a lead paint inspection 8. An owner signed a contract to sell an apartment building, just before closing the owner informed the buyers that she had changed her mind and would NOT sell the property. A lawsuit filed by the buyers would be for?: A. specific performance 9. If an owner wants to list a property for sale "as is," the listing agent should: C. Question the seller to any known defects 10. According to the New Jersey Real Estate Time Share Act, if a licensee is selling a timeshare located within the state of New Jersey, all of the following are true EXCEPT that the: A. licensee must hold a timeshare license 11. The seller has required that the buyer must use his title insurance company.The seller has been told that if the buyer uses the title company, they willpay part of his real estate commissions, increasing his net proceeds from the sale. Is this a legally permissible arrangement?: A.This is illegal accordingto RESPA

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