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Real Estate New Jersey Real Estate Salesperson Exam Sample Questions (Q90-Q95):

NEW QUESTION # 90
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:

A. price-fixing
B. apostille
C. market allocation
D. consumer protection

Answer: A

Explanation:
Price-fixing occurs when competitors agree to set commission rates or fees rather than allowing them to be independently negotiated.
This practice is a violation of the Sherman Antitrust Act and NJREC regulations.
Market allocation refers to dividing territories or clients.
"Apostille" is irrelevant.
Calling it "consumer protection" is misleading.
Thus, this is an example of price-fixing.
Reference: Sherman Antitrust Act; NJ Real Estate Salesperson Study Guide, Chapter on Antitrust Laws and Commission Practices.

NEW QUESTION # 91
Are electronic signatures enforceable on a real estate contract?

A. Yes, because they are allowed by the federal government.
B. Yes, because they are legal in real estate transactions.
C. No, because they must be signed and witnessed.
D. No, because they are only allowed on deeds.

Answer: B

Explanation:
Electronic signatures are legally enforceable under the federal Electronic Signatures in Global and National Commerce Act (E-SIGN Act, 2000) and the New Jersey Uniform Electronic Transactions Act (UETA, N.J.S.
A). 12A:12-1 et seq.).
These laws confirm that electronic signatures are valid and binding in real estate contracts, listings, leases, and other documents.
They are not restricted to deeds, and do not require witnessing to be valid.
Therefore, the correct answer is B.
Reference: Federal E-SIGN Act (2000); NJ Uniform Electronic Transactions Act; NJ Real Estate Salesperson Study Guide, Chapter on Contracts and Closing.

NEW QUESTION # 92
A public utility company is installing power lines across several counties. Will the utility company be more likely to be granted an easement appurtenant or an easement in gross?

A. easement in gross because it allows the holder of the easement to eventually gain title to the encumbered property
B. easement in gross because it does not require ownership of real property adjacent to the property that is subject to the easement
C. easement appurtenant because it cannot be extinguished by merger of the dominant and servient tenements
D. easement appurtenant because it cannot run with the land

Answer: B

Explanation:
An easement in gross benefits a person or entity, rather than another parcel of land. Unlike an easement appurtenant, which requires a dominant and servient estate (two adjoining parcels), an easement in gross does not require ownership of adjacent property.
Utility companies (electric, gas, water, sewer, cable) typically hold easements in gross, allowing them to install and maintain lines across multiple properties. The easement is granted to the utility company, not to a neighboring landowner.
Therefore, the correct answer is C.
Reference: NJ Real Estate Salesperson Pre-Licensure Course Guide, Chapter on Interests in Real Estate (Easements); NJ Property Law principles on easements.

NEW QUESTION # 93
If an owner wants to list a property for sale "as is," the listing agent should:

A. conclude that if the buyer later discovers defects that were not disclosed the listing agent is relieved of any responsibility.
B. assume that the house is a "fixer-upper."
C. question the seller as to any known defects.
D. assume that the owner will accept a relatively low price for the property.

Answer: C

Explanation:
"As is" does not relieve a seller or listing agent from disclosure obligations.
The licensee must still make reasonable inquiries about known defects.
All material facts must be disclosed, regardless of the "as is" designation.
"As is" simply means the seller will not make repairs or improvements.
Thus, the agent must ask the seller about known defects = C.
Reference: NJREC Rules and Regulations on Disclosure; NJ Real Estate Salesperson Study Guide, Chapter on Seller Disclosures and "As Is" Sales.

NEW QUESTION # 94
According to the Real Estate Licensing Law, a real estate licensee can provide a rebate of the commission to a buyer

A. provided it does not exceed 50% of the total commission.
B. if a writing confirming the terms of the rebate is provided to the buyer at closing.
C. if notated on the contract of sale.
D. if the licensee is the broker.

Answer: B

Explanation:
New Jersey law (P.L. 2009, c. 273; NJ Real Estate Licensing Law) permits brokers to rebate a portion of their commission to a buyer provided that:
The rebate does not constitute a violation of RESPA or other federal laws.
The terms of the rebate are disclosed in writing to the buyer prior to closing.
The rebate must be documented in the transaction records maintained by the broker.
There is no statutory 50% cap, and it does not have to be written directly into the contract of sale. It is also not limited to the broker personally-salespersons may provide a rebate under the broker's supervision.
Reference: New Jersey Real Estate Commission - Licensing Law, Commission Rebates to Buyers, N.J.S.A.
45:15-17; NJREC Bulletins on Commission Rebates.

NEW QUESTION # 95
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