Q28. As required by the New Jersey Real Estate Sales Full Disclosure Act, before signing any contract for the purchase or lease of a property registered with the New Jersey Real Estate Commission, the purchaser or lessee MUST be provided with a copy of the:

Q29. Prospective buyers for a house want to operate a recycling center in their backyard. Local zoning laws do not allow this. What do they need to do first?

Q30. A deposit check from a buyer paid upon the submission of an offer may be held without being deposited into the broker’s escrow account:

Q31. If a salesperson or broker-salesperson maintains a webpage that is not linked to the webpage of their broker, the licensee’s webpage must display the name of the broker as well as the

Q32. Prospective buyers asked the licensee representing them if it would be a good idea to check the property they wish to purchase for radon. The licensee’s best response would be to tell the buyers that:

Q33. A salesperson is selling a leased commercial property. What will happen to the lease after the sale is consummated?

Q34. A licensee must provide a Consumer Information Statement in all of the following transactions EXCEPT the:

Q35. A seller refuses to honor a sales agreement. The buyer could seek specific performance, which is a legal request to:

Q36. A lender whose mortgagor has defaulted may be offered a deed in lieu of foreclosure. If accepted, which of the following will be true?

Q37. A broker may legally refuse to accept a listing:

Q38. If an owner wants to list a property for sale “as is,” the listing agent should:

Q39. 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?

Q40. Rents on a duplex total $600 monthly and are due the first of each month. If the sale of the duplex closes on the 15th of a month, the rental income will be reflected on the closing statement as a

Q41. A licensee lists a property with the knowledge that a major highway is projected to be built within fifty feet of the property and is instructed by the owner not to disclose this fact to prospective purchasers. The licensee should:

Q42. New Jersey Real Estate Commission regulations require a licensee to terminate membership in a real estate board or multiple listing service whenever the organization:

Q43. A salesperson working with buyers secures an offer on a property. The offer calls for an initial deposit of
$1,000 to be held in escrow. The salesperson instructs the buyer to issue a personal check in that amount payable to the salesperson. This action is

Q44. After announcing that a new city park will soon be developed, homes in the immediate area experience a rise in value. This is an example of which of the following principles of value?

Q45. Two parcels of land priced at $2,100 per acre were purchased. One parcel was 5 acres in size, and the other was 1 square mile in size. How much should these two parcels have cost together?

Q46. Which of the following statements about branch offices is INCORRECT?

Q47. A buyer and broker enter into a 3-month exclusive buyer agency agreement. With regard to the broker’s right to be compensated and to work with other clients, this means that during the term of this agreement, the broker

Q48. A national company desires a parcel of land which must be 4 times the size of its proposed building. If the building design includes 20,000 square feet, then which of the following minimum sized lots should be purchased?