New Jersey Real Estate Practice Exam Free Practice Question
The New Jersey Real Estate Timeshare Act applies to all of the following EXCEPT a timeshare plan
Correct Answer: D
Rationale: The New Jersey Real Estate Timeshare Act regulates timeshare plans to protect consumers. Option D is not covered by the Act because it pertains to timeshare plans with a total financial obligation of less than $5,000, which typically fall outside the scope of regulatory oversight.
Option A, involving 10 units, and Option B, covering a 5-year period, both meet the criteria for regulation under the Act. Option C refers to plans already approved by the Department of Commerce, which are still subject to the Act's provisions to ensure ongoing consumer protection.
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