New Jersey Department of Real Estate - Salesperson LATEST EXAM GUIDE Q & S 2026/2027

New Jersey Department of Real Estate - Salesperson LATEST EXAM GUIDE Q & S 2026/2027

1. When considering land use controls and regulations, which
entity is typically responsible for zoning ordinances?
 a) The federal government
 b) The state government
 c) Local government bodies
 d) Homeowners associations
 Correct Answer: c) Local government bodies
2. In the context of fiduciary duties, what does the principle of
'obedience' require an agent to do?
 a) Follow all lawful instructions of the principal
 b) Avoid conflicts of interest
 c) Protect the principal's confidential information
 d) Act in good faith and with fair dealing
 Correct Answer: a) Follow all lawful instructions of the principal
3. Which appraisal method estimates the value of a property based
on the cost of constructing a functional equivalent?
 a) Sales comparison approach
 b) Cost approach