New-Jersey-Real-Estate-Salesperson Exam Questions & Answers
New Jersey Real Estate Salesperson Exam • Real Estate Licensing
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Sample New-Jersey-Real-Estate-Salesperson Questions
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Which of the following best describes the Housing for Older Persons Act?
The Housing for Older Persons Act (HOPA, 1995 amendment to the Fair Housing Act) provides exemption from familial status discrimination if:
At least 80% of units are occupied by at least one person 55 years of age or older.
The housing adheres to a policy of providing housing for older persons.
The requirement for ''significant facilities and services'' was removed by the 1995 Act.
Correct answer = B.
A seller refuses to honor a sales agreement. The buyer could seek specific performance, which is a legal request to:
Specific performance is a legal remedy requiring a party to perform as agreed in the contract, rather than just pay damages.
In real estate, because every parcel of land is unique, buyers often sue for specific performance to force the seller to transfer the property.
Options A and B describe rescission and compensatory damages.
Punitive damages are rare in contract law.
Correct answer = C.
Which of the following actions is NOT a cause for suspension or revocation of a New Jersey real estate license?
The New Jersey Real Estate Licensing Law (N.J.S.A. 45:15-17) lists specific causes for suspension or revocation, including:
Failing to provide a signed document copy to a client.
Failure to properly deliver a Consumer Information Statement before discussing motivation or making a presentation.
Collecting compensation from both parties without full disclosure and written consent.
However, paying a referral fee to an out-of-state broker is expressly permitted, provided the other broker is properly licensed in their jurisdiction. This is not grounds for discipline.
A private integrated club refused to rent one of its condos to a minority family. The club explained that it did not rent the condos to the public since the condos were for members only. Is the club in violation of the federal Fair Housing Act, and if so, how?
Under the Federal Fair Housing Act of 1968 (as amended), there are limited exemptions. One is the private club exemption: a bona fide private club that is not operated commercially may restrict the rental or occupancy of lodgings that it owns to members only.
However, even though exemptions exist, race-based discrimination is never permitted in the sale or rental of housing to the public. Here, since the club restricts rentals to members only and does not rent to the general public, it is not in violation of the Act.
An appraisal made by a certified appraiser is required:
FHA, VA, and other federally-insured loan programs require an appraisal by a certified appraiser before loan approval.
Property transfers, inheritances, or divorces may involve appraisals, but they are not mandated by law in the same way FHA loans require.
Correct answer = C.
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