New Jersey Real Estate Exam Practice Question
Which of the following best describes the Housing for Older Persons Act?
Correct Answer: B
Rationale: The Housing for Older Persons Act primarily stipulates that at least 80% of occupied units must have at least one resident aged 55 or older, ensuring a community primarily for seniors. Option A is incorrect as it does not address the age requirement but rather a familial exemption, which is not a focus of the Act. Option C, while relevant to senior housing, is not a requirement of the Act itself. Option D mischaracterizes the Act’s intent, which is to provide housing guidelines rather than to establish penalties or monetary damages for perceived exemptions.
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