Real Estate Licensing New-Jersey-Real-Estate-Salesperson Exam Dumps

New Jersey law (P.L. 2009, c. 273; NJ Real Estate Licensing Law) permits brokers to rebate a portion of their commission to a buyer provided that:

The rebate does not constitute a violation of RESPA or other federal laws.

The terms of the rebate are disclosed in writing to the buyer prior to closing.

The rebate must be documented in the transaction records maintained by the broker.

There is no statutory 50% cap, and it does not have to be written directly into the contract of sale. It is also not limited to the broker personally---salespersons may provide a rebate under the broker's supervision.

Under the New Jersey Real Estate Licensing Law, an applicant must:

Complete the 75-hour prelicensure education course.

Pass the state examination.

Apply for licensure within one year from the date of completing the prelicensure course.

If application is not made within one year of course completion, the course must be retaken.

Under New Jersey Municipal Land Use Law and the NJ Real Estate Salesperson study guide (Chapter on Land Use Regulations), when zoning ordinances restrict a particular use, the property owner or prospective buyer must request relief from the zoning board. The proper relief mechanism is a variance (sometimes called a special exception or conditional use permit).

A building permit (A) only allows construction according to existing zoning. It does not authorize a prohibited use.

A modification to the master plan (B) is a legislative act by the planning board/municipality and not the immediate remedy for individual property owners.

An appeal with the local court (D) may come later if denied, but the first step is to apply to the zoning board for a variance.

Therefore, the correct choice is C: obtain a variance or special exception.

A transaction broker facilitates a real estate transaction without representing either party as an agent.

They owe both parties honesty and fairness but do not owe fiduciary duties such as loyalty or confidentiality.

They do not require client-level agency agreements.

They must still be licensed.

Correct answer = B.

According to NJREC Rules and Regulations (N.J.A.C. 11:5-4.1) and the Broker-Salesperson employment agreement requirements:

Brokers must provide a full written accounting of monies due.

Any undisputed commission due must be paid within 10 business days of the broker receiving the funds.

The broker must honor the compensation provisions of the terminated salesperson's written employment agreement.

However, salespersons are not permitted to remove original sales or listing contracts, which remain the property of the broker.

Therefore, the action the broker is NOT required to take is B.