Real Estate Licensing New Jersey Real Estate Salesperson Exam - Topic 3 Question 9 Discussion

Actual exam question for Real Estate Licensing's New Jersey Real Estate Salesperson exam

Question #: 9
Topic #: 3

[All New Jersey Real Estate Salesperson Questions]

Rents on a duplex total $600 monthly and are due the first of each month. If the sale of the duplex closes on the 15th of a month, the rental income will be reflected on the closing statement as a

Adebit to the seller of $300 and a credit to the buyer of $300.

Bcredit to the seller of $300 and a debit to the buyer of $300.

Ccredit of $600 to the seller only.

Dcredit of $600 to the buyer only.

Show Suggested Answer

Suggested Answer: A

In closing statements and prorations (Finance/Closing section of the NJ Real Estate Salesperson Pre-Licensure Study Guide), prepaid rents must be adjusted as of the closing date. Rent for the entire month ($600) was paid in advance to the seller on the 1st. On closing day (15th), the seller has received payment for the entire month, but the buyer is entitled to the income from the 15th through the end of the month. Half the rent ($300) must be credited to the buyer and debited to the seller.

(Reference: NJ Real Estate Salesperson Pre-Licensure Course Study Guide, Real Estate Finance---Prorations.)

by Sommer at Jan 05, 2026, 05:16 AM

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Luther

3 days ago

Option C) credit of $600 to the seller only. Why would the buyer get any of the rental income?

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Brynn

8 days ago

I think the answer is A) debit to the seller of $300 and a credit to the buyer of $300. Seems more logical to me.

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Kathryn

13 days ago

The correct answer is B) credit to the seller of $300 and a debit to the buyer of $300.

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Kirk

18 days ago

I recall that if the closing is mid-month, the buyer usually gets a credit for the days they own the property. So, it might be A or B.

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Malinda

23 days ago

I practiced a question like this where the seller got credited for the rent. I feel like it’s option B, but I could be wrong.

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Katlyn

29 days ago

I’m not sure, but I remember something about credits and debits in similar questions. Is it a credit to the seller or the buyer?

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Corrinne

1 month ago

I think the rental income should be split since the buyer will only get half the month’s rent after closing.

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Steffanie

1 month ago

Alright, let me walk through this step-by-step. The total rent is $600, and the closing is on the 15th, so the seller gets the first half and the buyer gets the second half. Got it!

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Whitney

1 month ago

I'm pretty confident I can solve this. The rental income should be credited to the seller up until the closing date, and then the buyer gets the remaining amount.

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