Principles, Property, and Land Use Practice Question

Question

A property manager asks how a rule affects a rental property for the New Jersey Real Estate Salesperson Exam involving sales comparison approach and attorney review awareness. Which statement is the best answer? (Item 96)

Answer choices

1. A. The affiliated licensee may handle the matter independently without broker responsibility.
2. B. Local custom controls even when a statute, regulation, contract, or disclosure rule applies.
3. C. The requirement matters only when the buyer obtains institutional financing.
4. D. Use comparable sales adjustments for residential valuation in a way that fits New Jersey exam practice.

Correct Answer

D. Use comparable sales adjustments for residential valuation in a way that fits New Jersey exam practice.

Explanation

The correct answer is D because sales comparison approach requires candidates to use comparable sales adjustments for residential valuation. The New Jersey reference keeps the scenario tied to state licensing practice, while the other options rely on unsafe assumptions about oral custom, escrow, client preference, independent licensee authority, or ignoring written duties.

Question details

• Difficulty: hard
• Domain: Principles, Property, and Land Use
• Objective: sales comparison approach

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