NJ real estate exam questions 2023

NJ real estate exam questions 2023A. radon B. lead-based paint C. neighborhood composition D. seller's property disclosure - ANSWER B. lead-based paint An individual Is hired by the homeowners' association of KLM Condominiums. The individual is not required to be a real estate licensee in New Jersey UNLESS the individual o engages in which of the following activities? A. Collecting the monthly association membership fees B. Negotiating a contract with a security service C. Retaining a landscaping service D. Soliciting tenants for vacant rental units - ANSWER D. Soliciting tenants for vacant rental units Minors are held liable for real estate contract obligations if they 2 A. are at least 16 years of age. B. have the contract notarized. C. graduated from high school. D. have their guardian co-sign. - ANSWER D. have their guardian co-sign. A broker who charges or collects an advance fee in excess of $25 for services to be rendered MUST: 2. A. deduct the amount collected from the commission or settlement B. give the principal receipts for all expenditures C. furnish within ninety days of its collection an accounting of how the money was used D. retain the difference between the amount of money collected and the amount spent - ANSWER C. furnish within ninety days of its collection an accounting of how the money was used A seller's agent is contacted by a potential buyer whose financial status is questionable. When asked to write an offer, the agent should * A. refuse to write the offer. B. insist on a prompt closing. C. ask for a high earnest money payment. D. relay any reservations to the seller. - ANSWER D. relay any reservations to the seller. 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