New Jersey Real Estate Practice Exam Practice Question
The means by which an adequate balance is maintained in the Real Estate Guaranty Fund is by the:
Correct Answer: A
Rationale: Maintaining an adequate balance in the Real Estate Guaranty Fund primarily relies on the assessment of fees upon issuing licenses and additional assessments as needed. This ensures a consistent influx of funds directly tied to the number of licensed real estate professionals.
Option B is incorrect because fines collected for violations are not the primary source of funding for the Fund. Option C is misleading; while the Governor may have authority, the assessment of fees is not typically conducted by executive order. Option D does not accurately reflect the funding mechanism, as it suggests a reactive approach rather than the proactive fee assessments that sustain the Fund.
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