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| Section | Objectives |
|---|---|
| Ethics and Professional Responsibility | |
| Real Estate Practice and Disclosures | |
| Land Use Controls and Regulations | |
| New Jersey Real Estate Law and Regulations | |
| Financing and Settlement | |
| Contracts | |
| Agency Relationships and Brokerage | |
| Property Ownership | |
| Valuation and Market Analysis |
A property that contains a 2,500-square-foot house has a land value of $45,000. The house suffers from
$7,000 of physical depreciation and $2,500 of functional obsolescence. If the replacement cost of the house is
$75 per square foot, what is the value of the property?
Correct Answer: D 🗳️
Explanation: Only visible for ExamBoosts members. You can sign-up / login (it's free).
New Jersey Real Estate Commission regulations require a licensee to terminate membership in a real estate board or multiple listing service whenever the organization:
Correct Answer: C 🗳️
Explanation: Only visible for ExamBoosts members. You can sign-up / login (it's free).
Limiting the neighborhoods in which a licensee shows houses because of a buyer's race is:
Correct Answer: B 🗳️
Explanation: Only visible for ExamBoosts members. You can sign-up / login (it's free).
A property was listed for $110,000. It sold for $106,000. A 6.5% fee was split equally between the listing and selling real estate firms. The listing licensee received 55% of the listing office share. How much did the listing licensee receive?
Correct Answer: C 🗳️
Explanation: Only visible for ExamBoosts members. You can sign-up / login (it's free).
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?
Correct Answer: C 🗳️
Explanation: Only visible for ExamBoosts members. You can sign-up / login (it's free).
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