NJ REAL ESTATE EXAM // ACTUAL
EXAM QUESTIONS AND VERIFIED
ANSWERS PART 1
Quality Supermarkets has taken occupancy of a retail building and has a
long term lease. As part of the their fit-up, they bolt to the floor their
meat and dairy coolers, and shelves. When Quality Supermarket vacates
the property at the end of the lease, will Quality Supermarkets be legally
entitled to remove these fixtures?
A.) no, because they are trade fixtures
B.) yes, because they are appurtenances
,C.) no, because they are bolted to the floo r
D.) yes, if removed prior to the end of the lease
D.) Yes, if removed prior to the end of the lease
A salesperson is convicted of a crime which involves a real estate
licensee. The commission obtains a certified copy of judgement of
conviction against the salesperson. According to the New Jersey Real
Estate License Law, the commission MUST:
A.) revoke the salesperson license
B.) suspend the salesperson license
C.) determine altercation to take
D.) Notify the salesperson employing broker of the circumstances to the
conviction
D.) Notify the salesperson employing broker of the circumstances to the
conviction
,A broker maintains a property management trust (escrow) account
which has the clients funds in it. the brokers accounting records
show that client Smith has a negative $1,000 balance in it whereas
client Jones has $2,000 balance in his account
It is violation of real estate license law
The buyer wrote an offer to purchase a property and gave the broker
$10,000 earnest money. The offer required the seller to respond within
six days. Three days later the buyer decided to terminate the offer and
has asked for the earnest money to be refunded. What will normally
happen to the earnest money in such a situation?
A.) The broker can withdraw the offer , but the seller and the broker will
each retain five thousand dollars as liquidated damages
B.) The broker will retain the earnest money deposit in lieu of
commission in the the event of termination
C.) The buyer cannot terminate the offer until six days are up and will
therefore forfeit the earnest money deposit
D) Until the seller has accepted the offer the buyer has the right to
terminate and receive the refund of the deposit
A.) The broker can withdraw the offer , but the seller and the broker will
each retain five thousand dollars as liquidated damages
, A landlord's lease prohibits tenants from altering the property in any
way. A woman who uses a wheelchair cannot maneuver over the
doorstep into the apartment by herself. In addition, she cannot access the
bathroom facilities in her wheelchair. Which of the following is true?
A.) The landlord is responsible for making all apartments accessible to
people with disabilities
B.) The tenant cannot remedy these conditions because of the terms of
the lease
C.) The landlord should not have rented this apartment to the tenant
D.) The tenant is entitled to make the alteration necessary for apartment
accessibility
D.) The tenant is entitled to make the alteration necessary for apartment
accessibility
The broker received a birthday check from one of his clients. The broker
decided to put it in the escrow account because it was from a client. This
is considered:
A.) Conversion
EXAM QUESTIONS AND VERIFIED
ANSWERS PART 1
Quality Supermarkets has taken occupancy of a retail building and has a
long term lease. As part of the their fit-up, they bolt to the floor their
meat and dairy coolers, and shelves. When Quality Supermarket vacates
the property at the end of the lease, will Quality Supermarkets be legally
entitled to remove these fixtures?
A.) no, because they are trade fixtures
B.) yes, because they are appurtenances
,C.) no, because they are bolted to the floo r
D.) yes, if removed prior to the end of the lease
D.) Yes, if removed prior to the end of the lease
A salesperson is convicted of a crime which involves a real estate
licensee. The commission obtains a certified copy of judgement of
conviction against the salesperson. According to the New Jersey Real
Estate License Law, the commission MUST:
A.) revoke the salesperson license
B.) suspend the salesperson license
C.) determine altercation to take
D.) Notify the salesperson employing broker of the circumstances to the
conviction
D.) Notify the salesperson employing broker of the circumstances to the
conviction
,A broker maintains a property management trust (escrow) account
which has the clients funds in it. the brokers accounting records
show that client Smith has a negative $1,000 balance in it whereas
client Jones has $2,000 balance in his account
It is violation of real estate license law
The buyer wrote an offer to purchase a property and gave the broker
$10,000 earnest money. The offer required the seller to respond within
six days. Three days later the buyer decided to terminate the offer and
has asked for the earnest money to be refunded. What will normally
happen to the earnest money in such a situation?
A.) The broker can withdraw the offer , but the seller and the broker will
each retain five thousand dollars as liquidated damages
B.) The broker will retain the earnest money deposit in lieu of
commission in the the event of termination
C.) The buyer cannot terminate the offer until six days are up and will
therefore forfeit the earnest money deposit
D) Until the seller has accepted the offer the buyer has the right to
terminate and receive the refund of the deposit
A.) The broker can withdraw the offer , but the seller and the broker will
each retain five thousand dollars as liquidated damages
, A landlord's lease prohibits tenants from altering the property in any
way. A woman who uses a wheelchair cannot maneuver over the
doorstep into the apartment by herself. In addition, she cannot access the
bathroom facilities in her wheelchair. Which of the following is true?
A.) The landlord is responsible for making all apartments accessible to
people with disabilities
B.) The tenant cannot remedy these conditions because of the terms of
the lease
C.) The landlord should not have rented this apartment to the tenant
D.) The tenant is entitled to make the alteration necessary for apartment
accessibility
D.) The tenant is entitled to make the alteration necessary for apartment
accessibility
The broker received a birthday check from one of his clients. The broker
decided to put it in the escrow account because it was from a client. This
is considered:
A.) Conversion
