{"id":2085,"date":"2025-12-14T11:32:09","date_gmt":"2025-12-14T11:32:09","guid":{"rendered":"https:\/\/exam.real4prep.com\/2025\/12\/14\/q34-q58-new-jersey-real-estate-salesperson-actual-questions-instant-download-tests-free-updated-today\/"},"modified":"2025-12-14T11:32:09","modified_gmt":"2025-12-14T11:32:09","slug":"q34-q58-new-jersey-real-estate-salesperson-actual-questions-instant-download-tests-free-updated-today","status":"publish","type":"post","link":"https:\/\/exam.real4prep.com\/ja\/2025\/12\/14\/q34-q58-new-jersey-real-estate-salesperson-actual-questions-instant-download-tests-free-updated-today\/","title":{"rendered":"[Q34-Q58] New-Jersey-Real-Estate-Salesperson Actual Questions &#8211; Instant Download Tests Free Updated Today!"},"content":{"rendered":"\n\n<div class=\"kk-star-ratings kksr-auto kksr-align-left kksr-valign-top\"\n    data-payload='{&quot;align&quot;:&quot;left&quot;,&quot;id&quot;:&quot;2085&quot;,&quot;slug&quot;:&quot;default&quot;,&quot;valign&quot;:&quot;top&quot;,&quot;ignore&quot;:&quot;&quot;,&quot;reference&quot;:&quot;auto&quot;,&quot;class&quot;:&quot;&quot;,&quot;count&quot;:&quot;2&quot;,&quot;legendonly&quot;:&quot;&quot;,&quot;readonly&quot;:&quot;&quot;,&quot;score&quot;:&quot;4.5&quot;,&quot;starsonly&quot;:&quot;&quot;,&quot;best&quot;:&quot;5&quot;,&quot;gap&quot;:&quot;5&quot;,&quot;greet&quot;:&quot;Rate this post&quot;,&quot;legend&quot;:&quot;4.5\\\/5 - (2 votes)&quot;,&quot;size&quot;:&quot;24&quot;,&quot;title&quot;:&quot;[Q34-Q58] New-Jersey-Real-Estate-Salesperson Actual Questions - Instant Download Tests Free Updated Today!&quot;,&quot;width&quot;:&quot;128&quot;,&quot;_legend&quot;:&quot;{score}\\\/{best} - ({count} {votes})&quot;,&quot;font_factor&quot;:&quot;1.25&quot;}'>\n            \n<div class=\"kksr-stars\">\n    \n<div class=\"kksr-stars-inactive\">\n            <div class=\"kksr-star\" data-star=\"1\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" data-star=\"2\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" data-star=\"3\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" data-star=\"4\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" data-star=\"5\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n    <\/div>\n    \n<div class=\"kksr-stars-active\" style=\"width: 128px;\">\n            <div class=\"kksr-star\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n    <\/div>\n<\/div>\n                \n\n<div class=\"kksr-legend\" style=\"font-size: 19.2px;\">\n            4.5\/5 - (2 votes)    <\/div>\n    <\/div>\n<p><span style=\"font-size: 18px\"><strong><span style=\"color: red\">New-Jersey-Real-Estate-Salesperson Actual Questions &#8211; Instant Download Tests Free Updated Today!<\/span><\/strong><\/span><\/p>\n<p><strong><span style=\"color: red\">Get instant access of 100% real Real Estate New-Jersey-Real-Estate-Salesperson exam questions with verified answers<\/span><\/strong><\/p>\n<div id=\"watu_quiz\" class=\"quiz-area single-page-quiz\">\n<form action=\"\" method=\"post\" class=\"quiz-form \" id=\"quiz-831\" >\n<div class='watu-question' id='question-1'><div class='question-content'><p><strong>NO.34<\/strong> Which action would be allowed according to the Federal Fair Housing law?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16309' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63286' \/><div class='watu-question-choice'><input type='radio' name='answer-16309[]' id='answer-id-63286' class='answer answer-1 js-answer-label answerof-16309' value='63286' \/>&nbsp;<label for='answer-id-63286' id='answer-label-63286' class='js-answer-label answer label-1'><span class='answer'>A broker informs a potential seller that there is an influx of immigrants snatching up rentals in the neighborhood, so this would be a good time to sell.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63287' \/><div class='watu-question-choice'><input type='radio' name='answer-16309[]' id='answer-id-63287' class='answer answer-1 js-answer-label answerof-16309' value='63287' \/>&nbsp;<label for='answer-id-63287' id='answer-label-63287' class='js-answer-label answer label-1'><span class='answer'>Broker A meets a new Hispanic buyer client. Broker B just sold a handful of condos to other Hispanic buyers in the Kentwood neighborhood, so broker A suggests the new buyer might be comfortable in that neighborhood.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63288' \/><div class='watu-question-choice'><input type='radio' name='answer-16309[]' id='answer-id-63288' class='answer answer-1 js-answer-label answerof-16309' value='63288' \/>&nbsp;<label for='answer-id-63288' id='answer-label-63288' class='js-answer-label answer label-1'><span class='answer'>A lender receives notice that a loan application submitted on behalf of a client has been denied. The lender knew the borrower was well qualified, but is told that area is off limits for new loans because of its crime rate.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63289' \/><div class='watu-question-choice'><input type='radio' name='answer-16309[]' id='answer-id-63289' class='answer answer-1 php-answer-label answerof-16309' value='63289' \/>&nbsp;<label for='answer-id-63289' id='answer-label-63289' class='php-answer-label answer label-1'><span class='answer'>A landlord receives a rental application from a prospective tenant, who came from Russia a few years ago to attend the local university. The lender denies the rental application after asking for the prospective tenant&#8217;s visa and determines that it expires in 3 months.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>Under the Federal Fair Housing Act (Title VIII of the Civil Rights Act of 1968, as amended):<br\/>A = Blockbusting (illegal).<br\/>B = Steering based on ethnicity (illegal).<br\/>C = Redlining (illegal lending discrimination).<br\/>D = Immigration\/visa status is not a protected class under Fair Housing law. A landlord may consider visa status as part of ability to fulfill lease obligations.<br\/>Thus, the only action permitted under Fair Housing is D.<br\/>Reference: Federal Fair Housing Act, 42 U.S.C. \u00a7\u00a7 3601-3619; NJ Real Estate Salesperson Study Guide, Chapter on Fair Housing.<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(1,this)' id='btn-1' value='See Answer'  \/><input type='hidden' id='questionType1' value='radio' class=''><\/div><div class='watu-question' id='question-2'><div class='question-content'><p><strong>NO.35<\/strong> A small broker committee in the local county has set up a new marketing idea. They will give every seller the same commission rate and it will not be negotiable. This will allow the consumers to know exactly what it will cost to list a property. This marketing plan is an example of:<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16310' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63290' \/><div class='watu-question-choice'><input type='radio' name='answer-16310[]' id='answer-id-63290' class='answer answer-2 js-answer-label answerof-16310' value='63290' \/>&nbsp;<label for='answer-id-63290' id='answer-label-63290' class='js-answer-label answer label-2'><span class='answer'>apostille<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63291' \/><div class='watu-question-choice'><input type='radio' name='answer-16310[]' id='answer-id-63291' class='answer answer-2 php-answer-label answerof-16310' value='63291' \/>&nbsp;<label for='answer-id-63291' id='answer-label-63291' class='php-answer-label answer label-2'><span class='answer'>price-fixing<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63292' \/><div class='watu-question-choice'><input type='radio' name='answer-16310[]' id='answer-id-63292' class='answer answer-2 js-answer-label answerof-16310' value='63292' \/>&nbsp;<label for='answer-id-63292' id='answer-label-63292' class='js-answer-label answer label-2'><span class='answer'>market allocation<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63293' \/><div class='watu-question-choice'><input type='radio' name='answer-16310[]' id='answer-id-63293' class='answer answer-2 js-answer-label answerof-16310' value='63293' \/>&nbsp;<label for='answer-id-63293' id='answer-label-63293' class='js-answer-label answer label-2'><span class='answer'>consumer protection<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>Price-fixing occurs when competitors agree to set commission rates or fees rather than allowing them to be independently negotiated.<br\/>This practice is a violation of the Sherman Antitrust Act and NJREC regulations.<br\/>Market allocation refers to dividing territories or clients.<br\/>&#8220;Apostille&#8221; is irrelevant.<br\/>Calling it &#8220;consumer protection&#8221; is misleading.<br\/>Thus, this is an example of price-fixing.<br\/>Reference: Sherman Antitrust Act; NJ Real Estate Salesperson Study Guide, Chapter on Antitrust Laws and Commission Practices.<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(2,this)' id='btn-2' value='See Answer'  \/><input type='hidden' id='questionType2' value='radio' class=''><\/div><div class='watu-question' id='question-3'><div class='question-content'><p><strong>NO.36<\/strong> A broker may legally refuse to accept a listing:<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16311' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63294' \/><div class='watu-question-choice'><input type='radio' name='answer-16311[]' id='answer-id-63294' class='answer answer-3 php-answer-label answerof-16311' value='63294' \/>&nbsp;<label for='answer-id-63294' id='answer-label-63294' class='php-answer-label answer label-3'><span class='answer'>at any time, for any legitimate reason.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63295' \/><div class='watu-question-choice'><input type='radio' name='answer-16311[]' id='answer-id-63295' class='answer answer-3 js-answer-label answerof-16311' value='63295' \/>&nbsp;<label for='answer-id-63295' id='answer-label-63295' class='js-answer-label answer label-3'><span class='answer'>only if the owner&#8217;s instructions are illegal.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63296' \/><div class='watu-question-choice'><input type='radio' name='answer-16311[]' id='answer-id-63296' class='answer answer-3 js-answer-label answerof-16311' value='63296' \/>&nbsp;<label for='answer-id-63296' id='answer-label-63296' class='js-answer-label answer label-3'><span class='answer'>only if the seller cannot give clear title to the property.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63297' \/><div class='watu-question-choice'><input type='radio' name='answer-16311[]' id='answer-id-63297' class='answer answer-3 js-answer-label answerof-16311' value='63297' \/>&nbsp;<label for='answer-id-63297' id='answer-label-63297' class='js-answer-label answer label-3'><span class='answer'>under no circumstances; all owners are entitled to professional representation in the sale of their property.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>A broker is not obligated to accept every listing.<br\/>A broker may refuse listings for legitimate reasons (e.g., property is overpriced, owner is uncooperative, outside area of expertise).<br\/>The only prohibition is that brokers cannot refuse a listing for discriminatory reasons in violation of fair housing laws.<br\/>Correct answer = A.<br\/>Reference: NJ Real Estate Salesperson Study Guide, Chapter on Agency Agreements and Fiduciary Duties.<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(3,this)' id='btn-3' value='See Answer'  \/><input type='hidden' id='questionType3' value='radio' class=''><\/div><div class='watu-question' id='question-4'><div class='question-content'><p><strong>NO.37<\/strong> An appraisal made by a certified appraiser is required:<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16312' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63298' \/><div class='watu-question-choice'><input type='radio' name='answer-16312[]' id='answer-id-63298' class='answer answer-4 js-answer-label answerof-16312' value='63298' \/>&nbsp;<label for='answer-id-63298' id='answer-label-63298' class='js-answer-label answer label-4'><span class='answer'>before real property can transfer from one owner to another.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63299' \/><div class='watu-question-choice'><input type='radio' name='answer-16312[]' id='answer-id-63299' class='answer answer-4 js-answer-label answerof-16312' value='63299' \/>&nbsp;<label for='answer-id-63299' id='answer-label-63299' class='js-answer-label answer label-4'><span class='answer'>when heirs receive property.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63300' \/><div class='watu-question-choice'><input type='radio' name='answer-16312[]' id='answer-id-63300' class='answer answer-4 php-answer-label answerof-16312' value='63300' \/>&nbsp;<label for='answer-id-63300' id='answer-label-63300' class='php-answer-label answer label-4'><span class='answer'>when the buyer is using an FHA loan to purchase.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63301' \/><div class='watu-question-choice'><input type='radio' name='answer-16312[]' id='answer-id-63301' class='answer answer-4 js-answer-label answerof-16312' value='63301' \/>&nbsp;<label for='answer-id-63301' id='answer-label-63301' class='js-answer-label answer label-4'><span class='answer'>before any property settlement in a divorce.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>FHA, VA, and other federally-insured loan programs require an appraisal by a certified appraiser before loan approval.<br\/>Property transfers, inheritances, or divorces may involve appraisals, but they are not mandated by law in the same way FHA loans require.<br\/>Correct answer = C.<br\/>Reference: HUD\/FHA Loan Guidelines; NJ Real Estate Salesperson Study Guide, Chapter on Appraisal and Loan Underwriting.<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(4,this)' id='btn-4' value='See Answer'  \/><input type='hidden' id='questionType4' value='radio' class=''><\/div><div class='watu-question' id='question-5'><div class='question-content'><p><strong>NO.38<\/strong> Rules for Truth in Lending and RESPA call for disclosure documents to borrowers. How can a managing broker best prepare associated licensees to manage these disclosures?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16313' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63302' \/><div class='watu-question-choice'><input type='radio' name='answer-16313[]' id='answer-id-63302' class='answer answer-5 js-answer-label answerof-16313' value='63302' \/>&nbsp;<label for='answer-id-63302' id='answer-label-63302' class='js-answer-label answer label-5'><span class='answer'>The buyer&#8217;s broker can provide samples so that when the licensee and the borrower prepare the forms they are following a good example.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63303' \/><div class='watu-question-choice'><input type='radio' name='answer-16313[]' id='answer-id-63303' class='answer answer-5 php-answer-label answerof-16313' value='63303' \/>&nbsp;<label for='answer-id-63303' id='answer-label-63303' class='php-answer-label answer label-5'><span class='answer'>Because the lender has primary responsibility to provide these forms, the broker and licensees should be aware of the items required for the lender to comply.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63304' \/><div class='watu-question-choice'><input type='radio' name='answer-16313[]' id='answer-id-63304' class='answer answer-5 js-answer-label answerof-16313' value='63304' \/>&nbsp;<label for='answer-id-63304' id='answer-label-63304' class='js-answer-label answer label-5'><span class='answer'>The managing broker should train licensees to advise borrowers to accept the Loan Estimate right away.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63305' \/><div class='watu-question-choice'><input type='radio' name='answer-16313[]' id='answer-id-63305' class='answer answer-5 js-answer-label answerof-16313' value='63305' \/>&nbsp;<label for='answer-id-63305' id='answer-label-63305' class='js-answer-label answer label-5'><span class='answer'>Because the listing broker will be primarily responsible for completing the Loan Estimate to send to the lender, the broker should train associated licensees to collect all the necessary information in a timely fashion.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>Under TILA-RESPA Integrated Disclosure (TRID) rules, the lender is primarily responsible for preparing and delivering the Loan Estimate and Closing Disclosure.<br\/>Brokers and licensees do not prepare these forms.<br\/>However, licensees must be knowledgeable about the disclosures so they can help clients understand the process and provide necessary information for lender compliance.<br\/>Thus, the best practice is B: brokers should ensure licensees are aware of what the lender requires.<br\/>Reference: Truth in Lending Act (Regulation Z); RESPA (Regulation X); NJ Real Estate Salesperson Study Guide, Chapter on Federal Lending Laws.<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(5,this)' id='btn-5' value='See Answer'  \/><input type='hidden' id='questionType5' value='radio' class=''><\/div><div class='watu-question' id='question-6'><div class='question-content'><p><strong>NO.39<\/strong> A landlord may require that a disabled tenant<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16314' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63306' \/><div class='watu-question-choice'><input type='radio' name='answer-16314[]' id='answer-id-63306' class='answer answer-6 js-answer-label answerof-16314' value='63306' \/>&nbsp;<label for='answer-id-63306' id='answer-label-63306' class='js-answer-label answer label-6'><span class='answer'>pay double the usual $500 security deposit.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63307' \/><div class='watu-question-choice'><input type='radio' name='answer-16314[]' id='answer-id-63307' class='answer answer-6 js-answer-label answerof-16314' value='63307' \/>&nbsp;<label for='answer-id-63307' id='answer-label-63307' class='js-answer-label answer label-6'><span class='answer'>pay an additional fee for using the swimming pool to cover the added insurance cost.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63308' \/><div class='watu-question-choice'><input type='radio' name='answer-16314[]' id='answer-id-63308' class='answer answer-6 php-answer-label answerof-16314' value='63308' \/>&nbsp;<label for='answer-id-63308' id='answer-label-63308' class='php-answer-label answer label-6'><span class='answer'>remove the wheelchair ramp from the apartment upon vacating the unit.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63309' \/><div class='watu-question-choice'><input type='radio' name='answer-16314[]' id='answer-id-63309' class='answer answer-6 js-answer-label answerof-16314' value='63309' \/>&nbsp;<label for='answer-id-63309' id='answer-label-63309' class='js-answer-label answer label-6'><span class='answer'>not install grab bars in the tile shower if drilling holes in the tile is required.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>Under the Federal Fair Housing Act (as applied in New Jersey), landlords must permit disabled tenants to make reasonable modifications to the premises at the tenant&#8217;s expense, such as installing ramps or grab bars.<br\/>However:<br\/>The landlord cannot charge additional fees (answers A and B are discriminatory).<br\/>The landlord cannot prohibit installation of necessary accessibility aids (answer D is illegal).<br\/>The landlord can require the tenant to restore the property to its original condition upon vacating, which includes removing modifications such as ramps if they were installed.<br\/>Therefore, the correct answer is C.<br\/>Reference: NJ Real Estate Salesperson Pre-Licensure Course Guide, Chapter on Fair Housing; Federal Fair Housing Act, Title VIII.<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(6,this)' id='btn-6' value='See Answer'  \/><input type='hidden' id='questionType6' value='radio' class=''><\/div><div class='watu-question' id='question-7'><div class='question-content'><p><strong>NO.40<\/strong> A buyer wants to purchase a home for $400,000 with a 15% down payment. The lender charges 1.5 points.<br \/>How much money does the buyer need up front to make the purchase?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16315' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63310' \/><div class='watu-question-choice'><input type='radio' name='answer-16315[]' id='answer-id-63310' class='answer answer-7 js-answer-label answerof-16315' value='63310' \/>&nbsp;<label for='answer-id-63310' id='answer-label-63310' class='js-answer-label answer label-7'><span class='answer'>$60,000<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63311' \/><div class='watu-question-choice'><input type='radio' name='answer-16315[]' id='answer-id-63311' class='answer answer-7 js-answer-label answerof-16315' value='63311' \/>&nbsp;<label for='answer-id-63311' id='answer-label-63311' class='js-answer-label answer label-7'><span class='answer'>$66,000<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63312' \/><div class='watu-question-choice'><input type='radio' name='answer-16315[]' id='answer-id-63312' class='answer answer-7 js-answer-label answerof-16315' value='63312' \/>&nbsp;<label for='answer-id-63312' id='answer-label-63312' class='js-answer-label answer label-7'><span class='answer'>$60,900<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63313' \/><div class='watu-question-choice'><input type='radio' name='answer-16315[]' id='answer-id-63313' class='answer answer-7 php-answer-label answerof-16315' value='63313' \/>&nbsp;<label for='answer-id-63313' id='answer-label-63313' class='php-answer-label answer label-7'><span class='answer'>$65,100<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><img decoding=\"async\" src=\"https:\/\/exam.real4prep.com\/wp-content\/uploads\/2025\/12\/New-Jersey-Real-Estate-Salesperson-87f3e56f341917e88e3e2d87ed4b6daf.jpg\"\/><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(7,this)' id='btn-7' value='See Answer'  \/><input type='hidden' id='questionType7' value='radio' class=''><\/div><div class='watu-question' id='question-8'><div class='question-content'><p><strong>NO.41<\/strong> A licensed broker may establish a commission rate at a predetermined amount that reflects the broker&#8217;s general office policy provided the broker:<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16316' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63314' \/><div class='watu-question-choice'><input type='radio' name='answer-16316[]' id='answer-id-63314' class='answer answer-8 js-answer-label answerof-16316' value='63314' \/>&nbsp;<label for='answer-id-63314' id='answer-label-63314' class='js-answer-label answer label-8'><span class='answer'>has the percentage or fixed amount printed on all listing agreement forms<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63315' \/><div class='watu-question-choice'><input type='radio' name='answer-16316[]' id='answer-id-63315' class='answer answer-8 js-answer-label answerof-16316' value='63315' \/>&nbsp;<label for='answer-id-63315' id='answer-label-63315' class='js-answer-label answer label-8'><span class='answer'>advises the New Jersey Consumer Affairs Division that the broker will not negotiate this commission rate<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63316' \/><div class='watu-question-choice'><input type='radio' name='answer-16316[]' id='answer-id-63316' class='answer answer-8 js-answer-label answerof-16316' value='63316' \/>&nbsp;<label for='answer-id-63316' id='answer-label-63316' class='js-answer-label answer label-8'><span class='answer'>advertises the commission rate at least once per month<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63317' \/><div class='watu-question-choice'><input type='radio' name='answer-16316[]' id='answer-id-63317' class='answer answer-8 php-answer-label answerof-16316' value='63317' \/>&nbsp;<label for='answer-id-63317' id='answer-label-63317' class='php-answer-label answer label-8'><span class='answer'>negotiates all commissions with sellers<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>Under New Jersey Real Estate Commission rules and antitrust law, commissions are always negotiable between the broker and the client. A broker may set a general office policy or customary rate, but legally the rate cannot be mandatory or fixed without negotiation. It must be negotiated in each listing agreement.<br\/>* Options A, B, and C would constitute unlawful practices or misleading advertising.<br\/>* Only D is correct: all commissions must be negotiated with sellers.<br\/>(Reference: NJ Real Estate Salesperson Pre-Licensure Course Study Guide, Commission Rates &amp; Antitrust; NJAC 11:5 on advertising and business conduct.)<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(8,this)' id='btn-8' value='See Answer'  \/><input type='hidden' id='questionType8' value='radio' class=''><\/div><div class='watu-question' id='question-9'><div class='question-content'><p><strong>NO.42<\/strong> If a salesperson or broker-salesperson maintains a webpage that is not linked to the webpage of their broker, the licensee&#8217;s webpage must display the name of the broker as well as the<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16317' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63318' \/><div class='watu-question-choice'><input type='radio' name='answer-16317[]' id='answer-id-63318' class='answer answer-9 js-answer-label answerof-16317' value='63318' \/>&nbsp;<label for='answer-id-63318' id='answer-label-63318' class='js-answer-label answer label-9'><span class='answer'>broker&#8217;s telephone number.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63319' \/><div class='watu-question-choice'><input type='radio' name='answer-16317[]' id='answer-id-63319' class='answer answer-9 js-answer-label answerof-16317' value='63319' \/>&nbsp;<label for='answer-id-63319' id='answer-label-63319' class='js-answer-label answer label-9'><span class='answer'>broker&#8217;s email address.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63320' \/><div class='watu-question-choice'><input type='radio' name='answer-16317[]' id='answer-id-63320' class='answer answer-9 php-answer-label answerof-16317' value='63320' \/>&nbsp;<label for='answer-id-63320' id='answer-label-63320' class='php-answer-label answer label-9'><span class='answer'>address of the broker&#8217;s main office.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63321' \/><div class='watu-question-choice'><input type='radio' name='answer-16317[]' id='answer-id-63321' class='answer answer-9 js-answer-label answerof-16317' value='63321' \/>&nbsp;<label for='answer-id-63321' id='answer-label-63321' class='js-answer-label answer label-9'><span class='answer'>address of the branch office from which the licensee operates.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>Under NJREC advertising rules (N.J.A.C. 11:5-6.1), any licensee maintaining an independent website (not directly linked to the broker&#8217;s official site) must clearly and prominently display:<br\/>The name of their employing broker, and<br\/>The main office address of the broker.<br\/>This ensures the public understands the licensee works under a supervising broker, and prevents misleading advertising. It is not sufficient to only list a branch office or email.<br\/>Therefore, the correct answer is C.<br\/>Reference: NJREC Rules and Regulations, N.J.A.C. 11:5-6.1 (Advertising Requirements).<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(9,this)' id='btn-9' value='See Answer'  \/><input type='hidden' id='questionType9' value='radio' class=''><\/div><div class='watu-question' id='question-10'><div class='question-content'><p><strong>NO.43<\/strong> In many states, usury laws:<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16318' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63322' \/><div class='watu-question-choice'><input type='radio' name='answer-16318[]' id='answer-id-63322' class='answer answer-10 js-answer-label answerof-16318' value='63322' \/>&nbsp;<label for='answer-id-63322' id='answer-label-63322' class='js-answer-label answer label-10'><span class='answer'>determine the possible legal use of land.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63323' \/><div class='watu-question-choice'><input type='radio' name='answer-16318[]' id='answer-id-63323' class='answer answer-10 js-answer-label answerof-16318' value='63323' \/>&nbsp;<label for='answer-id-63323' id='answer-label-63323' class='js-answer-label answer label-10'><span class='answer'>provide a right to use property belonging to another.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63324' \/><div class='watu-question-choice'><input type='radio' name='answer-16318[]' id='answer-id-63324' class='answer answer-10 js-answer-label answerof-16318' value='63324' \/>&nbsp;<label for='answer-id-63324' id='answer-label-63324' class='js-answer-label answer label-10'><span class='answer'>impose a tax on a purchaser of personal property for resale or use.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63325' \/><div class='watu-question-choice'><input type='radio' name='answer-16318[]' id='answer-id-63325' class='answer answer-10 php-answer-label answerof-16318' value='63325' \/>&nbsp;<label for='answer-id-63325' id='answer-label-63325' class='php-answer-label answer label-10'><span class='answer'>establish a maximum rate of interest allowed for loans.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>Usury laws are designed to protect borrowers from being charged excessively high interest rates.<br\/>These laws set the maximum legal interest rate that lenders may charge.<br\/>The other options (land use, easements, and sales tax) are unrelated to usury laws.<br\/>Correct answer: D.<br\/>Reference: NJ Real Estate Salesperson Study Guide, Chapter on Financing and Loan Regulations.<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(10,this)' id='btn-10' value='See Answer'  \/><input type='hidden' id='questionType10' value='radio' class=''><\/div><div class='watu-question' id='question-11'><div class='question-content'><p><strong>NO.44<\/strong> Which of the following differentiates a bilateral contract from a unilateral contract?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16319' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63326' \/><div class='watu-question-choice'><input type='radio' name='answer-16319[]' id='answer-id-63326' class='answer answer-11 js-answer-label answerof-16319' value='63326' \/>&nbsp;<label for='answer-id-63326' id='answer-label-63326' class='js-answer-label answer label-11'><span class='answer'>number of parties involved<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63327' \/><div class='watu-question-choice'><input type='radio' name='answer-16319[]' id='answer-id-63327' class='answer answer-11 php-answer-label answerof-16319' value='63327' \/>&nbsp;<label for='answer-id-63327' id='answer-label-63327' class='php-answer-label answer label-11'><span class='answer'>performance obligations of the parties<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63328' \/><div class='watu-question-choice'><input type='radio' name='answer-16319[]' id='answer-id-63328' class='answer answer-11 js-answer-label answerof-16319' value='63328' \/>&nbsp;<label for='answer-id-63328' id='answer-label-63328' class='js-answer-label answer label-11'><span class='answer'>relative value of the object of the contract<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63329' \/><div class='watu-question-choice'><input type='radio' name='answer-16319[]' id='answer-id-63329' class='answer answer-11 js-answer-label answerof-16319' value='63329' \/>&nbsp;<label for='answer-id-63329' id='answer-label-63329' class='js-answer-label answer label-11'><span class='answer'>type of property specified in the contract<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>A bilateral contract involves mutual promises where both parties are obligated to perform (e.g., a sales contract: buyer promises to pay, seller promises to transfer title).<br\/>A unilateral contract involves only one party making a promise contingent on the performance of the other (e.<br\/>g., an option contract).<br\/>Thus, the key difference is performance obligations of the parties.<br\/>Correct answer = B.<br\/>Reference: NJ Real Estate Salesperson Study Guide, Chapter on Contracts.<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(11,this)' id='btn-11' value='See Answer'  \/><input type='hidden' id='questionType11' value='radio' class=''><\/div><div class='watu-question' id='question-12'><div class='question-content'><p><strong>NO.45<\/strong> An intoxicated buyer made an offer on a house. The owners accepted the offer. This contract is<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16320' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63330' \/><div class='watu-question-choice'><input type='radio' name='answer-16320[]' id='answer-id-63330' class='answer answer-12 js-answer-label answerof-16320' value='63330' \/>&nbsp;<label for='answer-id-63330' id='answer-label-63330' class='js-answer-label answer label-12'><span class='answer'>illegal.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63331' \/><div class='watu-question-choice'><input type='radio' name='answer-16320[]' id='answer-id-63331' class='answer answer-12 js-answer-label answerof-16320' value='63331' \/>&nbsp;<label for='answer-id-63331' id='answer-label-63331' class='js-answer-label answer label-12'><span class='answer'>void.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63332' \/><div class='watu-question-choice'><input type='radio' name='answer-16320[]' id='answer-id-63332' class='answer answer-12 js-answer-label answerof-16320' value='63332' \/>&nbsp;<label for='answer-id-63332' id='answer-label-63332' class='js-answer-label answer label-12'><span class='answer'>unilateral.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63333' \/><div class='watu-question-choice'><input type='radio' name='answer-16320[]' id='answer-id-63333' class='answer answer-12 php-answer-label answerof-16320' value='63333' \/>&nbsp;<label for='answer-id-63333' id='answer-label-63333' class='php-answer-label answer label-12'><span class='answer'>voidable.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>Per the Contracts chapter of the NJ Real Estate Salesperson Pre-Licensure Course Study Guide, contractual capacity is required. Agreements entered into by a party who is intoxicated to the point of incapacity are voidable at that party&#8217;s option (once sober), not void per se. The contract is not illegal, and it&#8217;s bilateral (both parties promise performance), not unilateral.<br\/>* Thus, the contract is voidable by the intoxicated party.<br\/>(Reference: NJ Real Estate Salesperson Pre-Licensure Course Study Guide, Contracts-Capacity; Void vs.<br\/>Voidable Contracts.)<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(12,this)' id='btn-12' value='See Answer'  \/><input type='hidden' id='questionType12' value='radio' class=''><\/div><div class='watu-question' id='question-13'><div class='question-content'><p><strong>NO.46<\/strong> Which of the following statements would most likely be considered mere &#8220;puffing&#8221;?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16321' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63334' \/><div class='watu-question-choice'><input type='radio' name='answer-16321[]' id='answer-id-63334' class='answer answer-13 js-answer-label answerof-16321' value='63334' \/>&nbsp;<label for='answer-id-63334' id='answer-label-63334' class='js-answer-label answer label-13'><span class='answer'>This area is expected to increase in value by 25% within the next year.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63335' \/><div class='watu-question-choice'><input type='radio' name='answer-16321[]' id='answer-id-63335' class='answer answer-13 php-answer-label answerof-16321' value='63335' \/>&nbsp;<label for='answer-id-63335' id='answer-label-63335' class='php-answer-label answer label-13'><span class='answer'>This lot has the most beautiful view of the lake.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63336' \/><div class='watu-question-choice'><input type='radio' name='answer-16321[]' id='answer-id-63336' class='answer answer-13 js-answer-label answerof-16321' value='63336' \/>&nbsp;<label for='answer-id-63336' id='answer-label-63336' class='js-answer-label answer label-13'><span class='answer'>Children from this neighborhood have the highest SAT scores.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63337' \/><div class='watu-question-choice'><input type='radio' name='answer-16321[]' id='answer-id-63337' class='answer answer-13 js-answer-label answerof-16321' value='63337' \/>&nbsp;<label for='answer-id-63337' id='answer-label-63337' class='js-answer-label answer label-13'><span class='answer'>The utility costs in this home are lower than in any other home in the neighborhood.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>Puffing = exaggeration or subjective opinion that no reasonable person would take as fact (e.g., &#8220;most beautiful view&#8221;).<br\/>Statements of fact (e.g., predicted appreciation %, test scores, or utility costs) could be misrepresentation if untrue.<br\/>Thus, &#8220;This lot has the most beautiful view of the lake&#8221; = puffing.<br\/>Correct answer = B.<br\/>Reference: NJ Real Estate Salesperson Study Guide, Chapter on Ethics and Misrepresentation.<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(13,this)' id='btn-13' value='See Answer'  \/><input type='hidden' id='questionType13' value='radio' class=''><\/div><div class='watu-question' id='question-14'><div class='question-content'><p><strong>NO.47<\/strong> To avoid triggering full disclosure under TILA when advertising financing availability on a listed property, which of the following statements must a real estate licensee avoid using?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16322' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63338' \/><div class='watu-question-choice'><input type='radio' name='answer-16322[]' id='answer-id-63338' class='answer answer-14 js-answer-label answerof-16322' value='63338' \/>&nbsp;<label for='answer-id-63338' id='answer-label-63338' class='js-answer-label answer label-14'><span class='answer'>assumable loan<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63339' \/><div class='watu-question-choice'><input type='radio' name='answer-16322[]' id='answer-id-63339' class='answer answer-14 js-answer-label answerof-16322' value='63339' \/>&nbsp;<label for='answer-id-63339' id='answer-label-63339' class='js-answer-label answer label-14'><span class='answer'>owner willing to finance<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63340' \/><div class='watu-question-choice'><input type='radio' name='answer-16322[]' id='answer-id-63340' class='answer answer-14 js-answer-label answerof-16322' value='63340' \/>&nbsp;<label for='answer-id-63340' id='answer-label-63340' class='js-answer-label answer label-14'><span class='answer'>FHA and VA financing available<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63341' \/><div class='watu-question-choice'><input type='radio' name='answer-16322[]' id='answer-id-63341' class='answer answer-14 php-answer-label answerof-16322' value='63341' \/>&nbsp;<label for='answer-id-63341' id='answer-label-63341' class='php-answer-label answer label-14'><span class='answer'>buy for less than $650 per month<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>Under the Truth in Lending Act (Regulation Z), advertising is regulated to prevent misleading credit offers.<br\/>If an ad uses &#8220;triggering terms&#8221; (such as monthly payment amount, interest rate, down payment, or loan term), then full disclosure of all financing terms must be provided.<br\/>&#8220;Buy for less than $650 per month&#8221; is a triggering term because it specifies a monthly payment.<br\/>General terms like &#8220;assumable loan,&#8221; &#8220;owner financing,&#8221; or &#8220;FHA\/VA available&#8221; are permissible without full disclosure.<br\/>Correct answer = D.<br\/>Reference: Truth in Lending Act (TILA), Regulation Z; NJ Real Estate Salesperson Study Guide, Chapter on Financing and Advertising Rules.<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(14,this)' id='btn-14' value='See Answer'  \/><input type='hidden' id='questionType14' value='radio' class=''><\/div><div class='watu-question' id='question-15'><div class='question-content'><p><strong>NO.48<\/strong> A licensee must provide a Consumer Information Statement in all of the following transactions EXCEPT the:<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16323' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63342' \/><div class='watu-question-choice'><input type='radio' name='answer-16323[]' id='answer-id-63342' class='answer answer-15 js-answer-label answerof-16323' value='63342' \/>&nbsp;<label for='answer-id-63342' id='answer-label-63342' class='js-answer-label answer label-15'><span class='answer'>sale of a vacant one-family lot<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63343' \/><div class='watu-question-choice'><input type='radio' name='answer-16323[]' id='answer-id-63343' class='answer answer-15 js-answer-label answerof-16323' value='63343' \/>&nbsp;<label for='answer-id-63343' id='answer-label-63343' class='js-answer-label answer label-15'><span class='answer'>sale of a three-family house in a mixed-use zone<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63344' \/><div class='watu-question-choice'><input type='radio' name='answer-16323[]' id='answer-id-63344' class='answer answer-15 php-answer-label answerof-16323' value='63344' \/>&nbsp;<label for='answer-id-63344' id='answer-label-63344' class='php-answer-label answer label-15'><span class='answer'>sublease of a studio apartment for two months<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63345' \/><div class='watu-question-choice'><input type='radio' name='answer-16323[]' id='answer-id-63345' class='answer answer-15 js-answer-label answerof-16323' value='63345' \/>&nbsp;<label for='answer-id-63345' id='answer-label-63345' class='js-answer-label answer label-15'><span class='answer'>lease of a three-bedroom apartment for one year<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>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.<br\/>A short-term rental or sublease (two months) does not require a CIS.<br\/>Correct answer = C.<br\/>Reference: N.J.A.C. 11:5-6.9; NJ Real Estate Salesperson Study Guide, Chapter on Consumer Information Statement.<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(15,this)' id='btn-15' value='See Answer'  \/><input type='hidden' id='questionType15' value='radio' class=''><\/div><div class='watu-question' id='question-16'><div class='question-content'><p><strong>NO.49<\/strong> A licensee faxes a list of available properties to prospective buyers. Which of the following is true?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16324' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63346' \/><div class='watu-question-choice'><input type='radio' name='answer-16324[]' id='answer-id-63346' class='answer answer-16 php-answer-label answerof-16324' value='63346' \/>&nbsp;<label for='answer-id-63346' id='answer-label-63346' class='php-answer-label answer label-16'><span class='answer'>The fax must contain an opt-out provision for future communications.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63347' \/><div class='watu-question-choice'><input type='radio' name='answer-16324[]' id='answer-id-63347' class='answer answer-16 js-answer-label answerof-16324' value='63347' \/>&nbsp;<label for='answer-id-63347' id='answer-label-63347' class='js-answer-label answer label-16'><span class='answer'>The licensee must include only a phone number to reply.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63348' \/><div class='watu-question-choice'><input type='radio' name='answer-16324[]' id='answer-id-63348' class='answer answer-16 js-answer-label answerof-16324' value='63348' \/>&nbsp;<label for='answer-id-63348' id='answer-label-63348' class='js-answer-label answer label-16'><span class='answer'>The licensee&#8217;s company&#8217;s name does not need to be listed.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63349' \/><div class='watu-question-choice'><input type='radio' name='answer-16324[]' id='answer-id-63349' class='answer answer-16 js-answer-label answerof-16324' value='63349' \/>&nbsp;<label for='answer-id-63349' id='answer-label-63349' class='js-answer-label answer label-16'><span class='answer'>The licensee must mail an identical list to all parties.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>Under the federal Telephone Consumer Protection Act (TCPA) and Junk Fax Prevention Act:<br\/>Any unsolicited fax must include a clear opt-out provision allowing the recipient to request no further communications.<br\/>The fax must also identify the sender, including company name.<br\/>There is no requirement to mail identical lists.<br\/>Correct answer = A.<br\/>Reference: Telephone Consumer Protection Act (TCPA); Junk Fax Prevention Act; NJ Real Estate Salesperson Study Guide, Chapter on Advertising Rules.<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(16,this)' id='btn-16' value='See Answer'  \/><input type='hidden' id='questionType16' value='radio' class=''><\/div><div class='watu-question' id='question-17'><div class='question-content'><p><strong>NO.50<\/strong> Which of the following actions is NOT a cause for suspension or revocation of a New Jersey real estate license?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16325' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63350' \/><div class='watu-question-choice'><input type='radio' name='answer-16325[]' id='answer-id-63350' class='answer answer-17 js-answer-label answerof-16325' value='63350' \/>&nbsp;<label for='answer-id-63350' id='answer-label-63350' class='js-answer-label answer label-17'><span class='answer'>failing to provide a client with a copy of the signed exclusive listing contract<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63351' \/><div class='watu-question-choice'><input type='radio' name='answer-16325[]' id='answer-id-63351' class='answer answer-17 js-answer-label answerof-16325' value='63351' \/>&nbsp;<label for='answer-id-63351' id='answer-label-63351' class='js-answer-label answer label-17'><span class='answer'>delivering a consumer information statement to a seller after having made a listing presentation<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63352' \/><div class='watu-question-choice'><input type='radio' name='answer-16325[]' id='answer-id-63352' class='answer answer-17 php-answer-label answerof-16325' value='63352' \/>&nbsp;<label for='answer-id-63352' id='answer-label-63352' class='php-answer-label answer label-17'><span class='answer'>payment of a referral fee by a licensed New Jersey broker to a broker licensed in another state<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63353' \/><div class='watu-question-choice'><input type='radio' name='answer-16325[]' id='answer-id-63353' class='answer answer-17 js-answer-label answerof-16325' value='63353' \/>&nbsp;<label for='answer-id-63353' id='answer-label-63353' class='js-answer-label answer label-17'><span class='answer'>collecting a commission as a broker from both parties to a transaction while representing both parties as their agent<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>The New Jersey Real Estate Licensing Law (N.J.S.A. 45:15-17) lists specific causes for suspension or revocation, including:<br\/>Failing to provide a signed document copy to a client.<br\/>Failure to properly deliver a Consumer Information Statement before discussing motivation or making a presentation.<br\/>Collecting compensation from both parties without full disclosure and written consent.<br\/>However, paying a referral fee to an out-of-state broker is expressly permitted, provided the other broker is properly licensed in their jurisdiction. This is not grounds for discipline.<br\/>Reference: NJ Real Estate Licensing Law, N.J.S.A. 45:15-17; NJREC Rules on Referral Fees.<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(17,this)' id='btn-17' value='See Answer'  \/><input type='hidden' id='questionType17' value='radio' class=''><\/div><div class='watu-question' id='question-18'><div class='question-content'><p><strong>NO.51<\/strong> A salesperson is selling a leased commercial property. What will happen to the lease after the sale is consummated?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16326' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63354' \/><div class='watu-question-choice'><input type='radio' name='answer-16326[]' id='answer-id-63354' class='answer answer-18 php-answer-label answerof-16326' value='63354' \/>&nbsp;<label for='answer-id-63354' id='answer-label-63354' class='php-answer-label answer label-18'><span class='answer'>The lease is assigned to the new owner.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63355' \/><div class='watu-question-choice'><input type='radio' name='answer-16326[]' id='answer-id-63355' class='answer answer-18 js-answer-label answerof-16326' value='63355' \/>&nbsp;<label for='answer-id-63355' id='answer-label-63355' class='js-answer-label answer label-18'><span class='answer'>The lease expires and the tenant must move.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63356' \/><div class='watu-question-choice'><input type='radio' name='answer-16326[]' id='answer-id-63356' class='answer answer-18 js-answer-label answerof-16326' value='63356' \/>&nbsp;<label for='answer-id-63356' id='answer-label-63356' class='js-answer-label answer label-18'><span class='answer'>The tenant and the new owner must negotiate a new lease.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63357' \/><div class='watu-question-choice'><input type='radio' name='answer-16326[]' id='answer-id-63357' class='answer answer-18 js-answer-label answerof-16326' value='63357' \/>&nbsp;<label for='answer-id-63357' id='answer-label-63357' class='js-answer-label answer label-18'><span class='answer'>The new owner has the option of canceling the lease or accepting the lease.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>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.<br\/>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.<br\/>Therefore, the correct answer is A.<br\/>Reference: NJ Real Estate Salesperson Pre-Licensure Course Guide, Chapter on Leases; NJ Landlord-Tenant Law principles.<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(18,this)' id='btn-18' value='See Answer'  \/><input type='hidden' id='questionType18' value='radio' class=''><\/div><div class='watu-question' id='question-19'><div class='question-content'><p><strong>NO.52<\/strong> 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?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16327' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63358' \/><div class='watu-question-choice'><input type='radio' name='answer-16327[]' id='answer-id-63358' class='answer answer-19 js-answer-label answerof-16327' value='63358' \/>&nbsp;<label for='answer-id-63358' id='answer-label-63358' class='js-answer-label answer label-19'><span class='answer'>All sales contracts can be declared null and void and all salespersons will lose their licenses until establishing employment with another broker.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63359' \/><div class='watu-question-choice'><input type='radio' name='answer-16327[]' id='answer-id-63359' class='answer answer-19 js-answer-label answerof-16327' value='63359' \/>&nbsp;<label for='answer-id-63359' id='answer-label-63359' class='js-answer-label answer label-19'><span class='answer'>The Real Estate Commission can direct an experienced broker with another firm to conclude all pending business.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63360' \/><div class='watu-question-choice'><input type='radio' name='answer-16327[]' id='answer-id-63360' class='answer answer-19 js-answer-label answerof-16327' value='63360' \/>&nbsp;<label for='answer-id-63360' id='answer-label-63360' class='js-answer-label answer label-19'><span class='answer'>The most experienced salesperson can act as broker for a maximum of six months until a permanent replacement broker is licensed.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63361' \/><div class='watu-question-choice'><input type='radio' name='answer-16327[]' id='answer-id-63361' class='answer answer-19 php-answer-label answerof-16327' value='63361' \/>&nbsp;<label for='answer-id-63361' id='answer-label-63361' class='php-answer-label answer label-19'><span class='answer'>A salesperson holding a real estate license for at least three years can apply for a temporary broker&#8217;s license in order to continue the firm&#8217;s activity.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>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&#8217; experience may apply for a temporary broker&#8217;s license to continue the firm&#8217;s operations for a limited period while the firm arranges a permanent broker.<br\/>Existing agency contracts and transactions do not become void simply because of the broker&#8217;s death.<br\/>* Therefore, D is correct.<br\/>* A is incorrect-contracts are not automatically void, and salespersons don&#8217;t lose their licenses.<br\/>* B is not the prescribed process.<br\/>* C misstates both who may act and the time period; NJ uses a temporary broker&#8217;s license mechanism for a qualified salesperson (experience requirement is three years).<br\/>(Reference: NJ Real Estate Salesperson Pre-Licensure Course Study Guide, Licensing-Broker of Record Death\/Incapacity; NJREC Rules on temporary broker authority.)<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(19,this)' id='btn-19' value='See Answer'  \/><input type='hidden' id='questionType19' value='radio' class=''><\/div><div class='watu-question' id='question-20'><div class='question-content'><p><strong>NO.53<\/strong> 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?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16328' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63362' \/><div class='watu-question-choice'><input type='radio' name='answer-16328[]' id='answer-id-63362' class='answer answer-20 js-answer-label answerof-16328' value='63362' \/>&nbsp;<label for='answer-id-63362' id='answer-label-63362' class='js-answer-label answer label-20'><span class='answer'>$1,290<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63363' \/><div class='watu-question-choice'><input type='radio' name='answer-16328[]' id='answer-id-63363' class='answer answer-20 php-answer-label answerof-16328' value='63363' \/>&nbsp;<label for='answer-id-63363' id='answer-label-63363' class='php-answer-label answer label-20'><span class='answer'>$1,548<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63364' \/><div class='watu-question-choice'><input type='radio' name='answer-16328[]' id='answer-id-63364' class='answer answer-20 js-answer-label answerof-16328' value='63364' \/>&nbsp;<label for='answer-id-63364' id='answer-label-63364' class='js-answer-label answer label-20'><span class='answer'>$2,150<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63365' \/><div class='watu-question-choice'><input type='radio' name='answer-16328[]' id='answer-id-63365' class='answer answer-20 js-answer-label answerof-16328' value='63365' \/>&nbsp;<label for='answer-id-63365' id='answer-label-63365' class='js-answer-label answer label-20'><span class='answer'>$2,580<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><img decoding=\"async\" src=\"https:\/\/exam.real4prep.com\/wp-content\/uploads\/2025\/12\/New-Jersey-Real-Estate-Salesperson-d72978735b9c04a3d36da41fa739dd40.jpg\"\/><br\/>Reference: New Jersey Real Estate Salesperson Pre-Licensure Course Guide, Chapter on Financing and Loan Calculations.<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(20,this)' id='btn-20' value='See Answer'  \/><input type='hidden' id='questionType20' value='radio' class=''><\/div><div class='watu-question' id='question-21'><div class='question-content'><p><strong>NO.54<\/strong> A broker who charges or collects an advance fee in excess of $25 for services to be rendered MUST:<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16329' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63366' \/><div class='watu-question-choice'><input type='radio' name='answer-16329[]' id='answer-id-63366' class='answer answer-21 js-answer-label answerof-16329' value='63366' \/>&nbsp;<label for='answer-id-63366' id='answer-label-63366' class='js-answer-label answer label-21'><span class='answer'>deduct the amount collected from the commission or settlement<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63367' \/><div class='watu-question-choice'><input type='radio' name='answer-16329[]' id='answer-id-63367' class='answer answer-21 js-answer-label answerof-16329' value='63367' \/>&nbsp;<label for='answer-id-63367' id='answer-label-63367' class='js-answer-label answer label-21'><span class='answer'>give the principal receipts for all expenditures<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63368' \/><div class='watu-question-choice'><input type='radio' name='answer-16329[]' id='answer-id-63368' class='answer answer-21 php-answer-label answerof-16329' value='63368' \/>&nbsp;<label for='answer-id-63368' id='answer-label-63368' class='php-answer-label answer label-21'><span class='answer'>furnish within ninety days of its collection an accounting of how the money was used<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63369' \/><div class='watu-question-choice'><input type='radio' name='answer-16329[]' id='answer-id-63369' class='answer answer-21 js-answer-label answerof-16329' value='63369' \/>&nbsp;<label for='answer-id-63369' id='answer-label-63369' class='js-answer-label answer label-21'><span class='answer'>retain the difference between the amount of money collected and the amount spent<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>According to N.J.A.C. 11:5-6.1(j), any broker who collects an advance fee greater than $25 for services to be rendered must provide the client with a written accounting within 90 days of the collection date. This accounting must detail how the money was used and what services were performed.<br\/>This rule prevents abuse of advance fees and ensures transparency between brokers and clients. Brokers cannot simply keep advance fees without providing an itemized report.<br\/>Therefore, the correct answer is C.<br\/>Reference: NJREC Rules and Regulations, N.J.A.C. 11:5-6.1(j); NJ Real Estate Salesperson Pre-Licensure Course Guide, Chapter on Brokerage Business Practices.<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(21,this)' id='btn-21' value='See Answer'  \/><input type='hidden' id='questionType21' value='radio' class=''><\/div><div class='watu-question' id='question-22'><div class='question-content'><p><strong>NO.55<\/strong> A property that contains a 2,500-square-foot house has a land value of $45,000. The house suffers from<br \/>$7,000 of physical depreciation and $2,500 of functional obsolescence. If the replacement cost of the house is<br \/>$75 per square foot, what is the value of the property?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16330' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63370' \/><div class='watu-question-choice'><input type='radio' name='answer-16330[]' id='answer-id-63370' class='answer answer-22 js-answer-label answerof-16330' value='63370' \/>&nbsp;<label for='answer-id-63370' id='answer-label-63370' class='js-answer-label answer label-22'><span class='answer'>$178,000<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63371' \/><div class='watu-question-choice'><input type='radio' name='answer-16330[]' id='answer-id-63371' class='answer answer-22 js-answer-label answerof-16330' value='63371' \/>&nbsp;<label for='answer-id-63371' id='answer-label-63371' class='js-answer-label answer label-22'><span class='answer'>$187,500<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63372' \/><div class='watu-question-choice'><input type='radio' name='answer-16330[]' id='answer-id-63372' class='answer answer-22 php-answer-label answerof-16330' value='63372' \/>&nbsp;<label for='answer-id-63372' id='answer-label-63372' class='php-answer-label answer label-22'><span class='answer'>$223,000<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63373' \/><div class='watu-question-choice'><input type='radio' name='answer-16330[]' id='answer-id-63373' class='answer answer-22 js-answer-label answerof-16330' value='63373' \/>&nbsp;<label for='answer-id-63373' id='answer-label-63373' class='js-answer-label answer label-22'><span class='answer'>$232,500<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><img decoding=\"async\" src=\"https:\/\/exam.real4prep.com\/wp-content\/uploads\/2025\/12\/New-Jersey-Real-Estate-Salesperson-1eb9ed7fdc35b3935ce5fb6a5ecf374f.jpg\"\/><br\/>Reference: NJ Real Estate Salesperson Study Guide, Chapter on Appraisal (Cost Approach Method).<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(22,this)' id='btn-22' value='See Answer'  \/><input type='hidden' id='questionType22' value='radio' class=''><\/div><div class='watu-question' id='question-23'><div class='question-content'><p><strong>NO.56<\/strong> A buyer who is purchasing a property intends to build a chain link fence in the backyard. There is a 12-year- old deed restriction that prohibits chain link fences. The licensee finds out that there are no city codes prohibiting chain link fences. Which of the following statements regarding this situation is true?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16331' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63374' \/><div class='watu-question-choice'><input type='radio' name='answer-16331[]' id='answer-id-63374' class='answer answer-23 js-answer-label answerof-16331' value='63374' \/>&nbsp;<label for='answer-id-63374' id='answer-label-63374' class='js-answer-label answer label-23'><span class='answer'>City code always takes priority over deed restrictions.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63375' \/><div class='watu-question-choice'><input type='radio' name='answer-16331[]' id='answer-id-63375' class='answer answer-23 js-answer-label answerof-16331' value='63375' \/>&nbsp;<label for='answer-id-63375' id='answer-label-63375' class='js-answer-label answer label-23'><span class='answer'>This city code takes priority because deed restrictions expire 10 years after a subdivision is developed.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63376' \/><div class='watu-question-choice'><input type='radio' name='answer-16331[]' id='answer-id-63376' class='answer answer-23 js-answer-label answerof-16331' value='63376' \/>&nbsp;<label for='answer-id-63376' id='answer-label-63376' class='js-answer-label answer label-23'><span class='answer'>Deed restrictions always take priority over city codes.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63377' \/><div class='watu-question-choice'><input type='radio' name='answer-16331[]' id='answer-id-63377' class='answer answer-23 php-answer-label answerof-16331' value='63377' \/>&nbsp;<label for='answer-id-63377' id='answer-label-63377' class='php-answer-label answer label-23'><span class='answer'>This deed restriction is more restrictive and will, therefore, take precedence.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>Deed restrictions (restrictive covenants) are private controls that can impose stricter requirements than local zoning or codes.<br\/>The general rule: the more restrictive regulation prevails (whether deed restriction or zoning).<br\/>Deed restrictions do not automatically expire after 10 years unless the restriction itself specifies an expiration.<br\/>Since zoning allows fences but the deed restriction prohibits chain link fences, the restriction takes precedence.<br\/>Correct answer = D.<br\/>Reference: NJ Real Estate Salesperson Study Guide, Chapter on Land Use, Zoning, and Private Restrictions.<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(23,this)' id='btn-23' value='See Answer'  \/><input type='hidden' id='questionType23' value='radio' class=''><\/div><div class='watu-question' id='question-24'><div class='question-content'><p><strong>NO.57<\/strong> A tenant has an option to purchase leased property. The price that the tenant will pay for the property is determined by the:<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16332' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63378' \/><div class='watu-question-choice'><input type='radio' name='answer-16332[]' id='answer-id-63378' class='answer answer-24 php-answer-label answerof-16332' value='63378' \/>&nbsp;<label for='answer-id-63378' id='answer-label-63378' class='php-answer-label answer label-24'><span class='answer'>terms specified in the option.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63379' \/><div class='watu-question-choice'><input type='radio' name='answer-16332[]' id='answer-id-63379' class='answer answer-24 js-answer-label answerof-16332' value='63379' \/>&nbsp;<label for='answer-id-63379' id='answer-label-63379' class='js-answer-label answer label-24'><span class='answer'>agreement, when the option is exercised.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63380' \/><div class='watu-question-choice'><input type='radio' name='answer-16332[]' id='answer-id-63380' class='answer answer-24 js-answer-label answerof-16332' value='63380' \/>&nbsp;<label for='answer-id-63380' id='answer-label-63380' class='js-answer-label answer label-24'><span class='answer'>property&#8217;s market value at the time of exercising the option.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63381' \/><div class='watu-question-choice'><input type='radio' name='answer-16332[]' id='answer-id-63381' class='answer answer-24 js-answer-label answerof-16332' value='63381' \/>&nbsp;<label for='answer-id-63381' id='answer-label-63381' class='js-answer-label answer label-24'><span class='answer'>tenant, when the option is exercised.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>An option to purchase is a contract where:<br\/>The terms and price are established upfront in the option agreement.<br\/>The tenant (optionee) has the unilateral right to exercise the option within the agreed period.<br\/>Market value or tenant&#8217;s discretion does not determine the price unless specifically stated in the option.<br\/>Correct answer = A.<br\/>Reference: NJ Real Estate Salesperson Study Guide, Chapter on Contracts and Options.<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(24,this)' id='btn-24' value='See Answer'  \/><input type='hidden' id='questionType24' value='radio' class=''><\/div><div class='watu-question' id='question-25'><div class='question-content'><p><strong>NO.58<\/strong> A purchase money note need NOT contain the:<\/p>\n<\/div><input type='hidden' name='question_id[]' value='16333' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63382' \/><div class='watu-question-choice'><input type='radio' name='answer-16333[]' id='answer-id-63382' class='answer answer-25 js-answer-label answerof-16333' value='63382' \/>&nbsp;<label for='answer-id-63382' id='answer-label-63382' class='js-answer-label answer label-25'><span class='answer'>rate of interest.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63383' \/><div class='watu-question-choice'><input type='radio' name='answer-16333[]' id='answer-id-63383' class='answer answer-25 js-answer-label answerof-16333' value='63383' \/>&nbsp;<label for='answer-id-63383' id='answer-label-63383' class='js-answer-label answer label-25'><span class='answer'>time and method of payment.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63384' \/><div class='watu-question-choice'><input type='radio' name='answer-16333[]' id='answer-id-63384' class='answer answer-25 php-answer-label answerof-16333' value='63384' \/>&nbsp;<label for='answer-id-63384' id='answer-label-63384' class='php-answer-label answer label-25'><span class='answer'>loan-to-value ratio.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='63385' \/><div class='watu-question-choice'><input type='radio' name='answer-16333[]' id='answer-id-63385' class='answer answer-25 js-answer-label answerof-16333' value='63385' \/>&nbsp;<label for='answer-id-63385' id='answer-label-63385' class='js-answer-label answer label-25'><span class='answer'>principal amount of the loan.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>A promissory note (purchase money note) is the borrower&#8217;s written promise to repay a loan. It must include:<br\/>The principal amount of the loan.<br\/>The interest rate.<br\/>The time and method of repayment.<br\/>The loan-to-value ratio (LTV) is a lender&#8217;s underwriting guideline but is not a required element of the promissory note.<br\/>Correct answer = C.<br\/>Reference: NJ Real Estate Salesperson Study Guide, Chapter on Financing Instruments (Promissory Notes &amp; Mortgages)<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(25,this)' id='btn-25' value='See Answer'  \/><input type='hidden' id='questionType25' value='radio' class=''><\/div><div style='display:none' id='question-26'><br \/><div class='question-content'><img decoding=\"async\" src=\"https:\/\/exam.real4prep.com\/wp-content\/plugins\/watu\/loading.gif\" width=\"16\" height=\"16\" alt=\"Loading ...\" title=\"Loading ...\" \/>&nbsp;Loading &#8230;<\/div><\/div><br \/>\n<input type=\"button\" name=\"action\" onclick=\"Watu.submitResult()\" id=\"action-button\" style=\"margin:0 auto 20px auto;\" value=\"View Results\"  class=\"watu-submit-button\" \/>\n<input type=\"hidden\" name=\"no_ajax\" value=\"0\"><input type=\"hidden\" name=\"quiz_id\" value=\"831\" \/>\n<input type=\"hidden\" id=\"watuStartTime\" name=\"start_time\" value=\"2026-09-24 01:02:53\" \/>\n<\/form>\n<\/div>\n<div id=\"watu-loading-result\" style=\"display:none;\">\n\t<p align=\"center\"><img decoding=\"async\" src=\"https:\/\/exam.real4prep.com\/wp-content\/plugins\/watu\/loading.gif\" width=\"16\" height=\"16\" alt=\"Loading\" title=\"Loading\" \/><\/p>\n<\/div>\t\n<script type=\"text\/javascript\">\nvar exam_id=0;\nvar question_ids='';\nvar watuURL='';\njQuery(function($){\nquestion_ids = \"16309,16310,16311,16312,16313,16314,16315,16316,16317,16318,16319,16320,16321,16322,16323,16324,16325,16326,16327,16328,16329,16330,16331,16332,16333\";\nexam_id = 831;\nWatu.exam_id = exam_id;\nWatu.qArr = question_ids.split(',');\nWatu.post_id = 2085;\nWatu.singlePage = '1';\nWatu.hAppID = \"0.59471200 1790211773\";\nwatuURL = \"https:\/\/exam.real4prep.com\/wp-admin\/admin-ajax.php\";\nWatu.noAlertUnanswered = 0;\n});\n\nfunction showanswer1(e,q) {\n\tvar check = new Array();\n\tjQuery('.answer-' + e).each(function (i) {\n\t\tcheck.push(this.checked)\n\t})\n\tlet textval = jQuery('.watu-textarea-' + e).val()\n\tif (jQuery.inArray(true, check) >= 0 || textval !== '' && textval !== undefined) {\n\t\tjQuery(q).stop().fadeOut(300)\n\t\tjQuery('.php-answer-label.label-' + e).addClass(\n\t\t\t'correct-answer'\n\t\t)\n\t\tjQuery('.answer-' + e).each(function (i) {\n\t\t\tif (this.checked && this.className.match(\/js\\-answer\/)) {\n\t\t\t\tvar number = this.id.toString().replace(\/\\D\/g, '')\n\t\t\t\tif (number) {\n\t\t\t\t\tjQuery('#answer-label-' + number).addClass('user-answer')\n\t\t\t\t}\n\t\t\t}\n\t\t})\n\t\tjQuery(q).siblings('.show-question-feedback').stop().fadeIn(300)\n\t\ttextval = ''\n\t} else if (textval == '' || textval == undefined){\n\t\t\/\/jQuery(\".hint\").stop().fadeIn(300)\n\t\talert('Please first answer the question');\n\t}\n}\nvar btnisshow = jQuery(\".php-answer-label\").length\nif (btnisshow > 0) {\n\tjQuery('.showchecked').show()\n} else {\n\tjQuery('.showchecked').hide()\n}\n<\/script>\n<p><strong>Download Latest &amp; Valid Questions For Real Estate New-Jersey-Real-Estate-Salesperson exam: <a href=\"https:\/\/www.real4prep.com\/New-Jersey-Real-Estate-Salesperson-exam.html\" target=\"_blank\">https:\/\/www.real4prep.com\/New-Jersey-Real-Estate-Salesperson-exam.html<\/a><\/strong><\/p>\n\n","protected":false},"excerpt":{"rendered":"<p>New-Jersey-Real-Estate-Salesperson Actual Questions &#8211; Instant Download Tests Free Updated Today! 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