Which of the following is a permitted free offering? oA. A complimentary home warranty with every listing
B. A coupon for a discounted commission on listing services
C. A free dinner for attendees at a homebuyers’ evening seminar
D. Free use of a local moving van for all listings ✔✔C. A Free dinner for attendees at a
homebuyers’ evening seminar
Depreciation usually applies to .
A. the building only.
B. the land only.
C. both the land and the building.
D. income obtained from the building. ✔✔A. the building only.
Under New Jersey Real Estate Commission rules, a licensee’s obligations to the public include
all of the following responsibilities EXCEPT:
A. accepting any reasonable commission offered by a seller in the course of negotiating a listing
agreement
B. dealing honestly with all parties
C. disclosing material defects in a property to a prospective purchaser
D. protecting and promoting the interests of the licensee’s principal when acting as an agent
✔✔A. accepting any reasonable commission offered by a seller in the course of negotiating a
listing agreement
The broker has noticed that a great number of people who are buying in the neighborhood where
his listing is located speak Russian. He also noticed a Russian grocery store right by the
neighborhood that was attractive. He decides to stop the advertising the property and started
adverting the property on two different Russian internet sites. This is:
- Acceptable because it is not print media
- Unacceptable due to its discriminatory nature
- Acceptable if the advertisement includes no preferential language
- The only appropriate way to market property in this neighborhood
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Comment ✔✔3. Acceptable if the advertisement includes no preferential language
Which of the following are most likely to be addressed by building code?
A.deed restrictions
B.construction standards
C.permissible uses of structures
D.restrictive covenant ✔✔B.construction standards
A seller places his property on the market for sale at a certain price. A buyer sees the property
and makes a written offer to purchase that is 90% of the asking price. The seller 2
rejects that offer, but states that he will accept an offer of 95% of the original asking price. The
buyer rejects that counteroffer. The original offer is
A. rescinded.
B. null and void.
C. irrevocable.
D. binding. ✔✔B. null and void.
A property was listed with a broker, but the owners advertising the property found a buyer and
negotiated the sale themselves. After the closing, the owners paid a full commission %-
3 / 4
to the broker. The broker MUST have had
A. an open listing.
B. an exclusive agency listing.
C. anet listing.
D. an exclusive right to sell. ✔✔D. an exclusive right to sell.
A neighborhood grocery store no longer complies with the law because a new zoning ordinance
is adopted so that the property is zoned for residential use. Nevertheless, the owner “-
is allowed to continue to operate the grocery store. This is an example of
A. variance.
B. nonconforming use.
C. spot zoning.
D. a conditional-use permit. ✔✔B. nonconforming use.
A lender whose mortgagor has defaulted may be offered a deed in lieu of foreclosure. If he
accepts, which of the following will be TRUE? 2
A. Because it is voluntary, it will not be an adverse item on the buyer’s credit.
B. The lender will take the title subject to any junior liens.
C. The lender will usually retain his rights under mortgage insurance or VA guarantee