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NJ Real Estate Exam Questions with Complete Solutions Graded A+
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NJ Real Estate Exam Questions with Complete Solutions Graded A+
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NJ Real EstateExam Questions
and Complete
Solutions Graded
A+
Denning [Date] [Course title]
,Title 45 - Answer: New Jersey's real estate license law is known as
Draw up a binding lease for a new tenant in a property the resident owns - Answer: an unlicensed New
Jersey resident may
two years - Answer: a real estate license is valid for
18 - Answer: according to the law, to obtain a salesperson's license one must reach the age of
150 - Answer: a broker must have completed how many hours of study in addition to the original
salesperson's course?
one year - Answer: the prelicense course must be taken over if the student does not apply for a license
within
agree to be sued in New Jersey - Answer: A nonresident broker requesting a New Jersey license must
be exempt from payment of license fees - Answer: An honorably discharged war veteran with a service
connected wound or disability may
Have one of their members apply for a temporary broker's license - Answer: if a principal broker dies,
associated salespersons should promptly
8 - Answer: the Real Estate Commission has how many members
in every two-year period - Answer: continuing education courses must be taken
insurance brokers - Answer: which of the following are never allowed to sell real estate without a
license?
fees paid at first-license application - Answer: the Guaranty Fund is funded by
,out of state properties - Answer: Real estate brokers may need special registration when selling some
Furnish prospective tenants with a written contract - Answer: rental referral companies must
give no answer to questions about the property - Answer: an unlicensed assistant is asked over the
telephone, "how many bedrooms are there in that house at 78 oak street?" the assistant is allowed to
3 days - Answer: an apartment is listed with a rental referral company, but it is not actively advertised
to the public. How frequently must the company check the apartment's availability?
SLWRERC - Answer: certification that legal restrictions have been reviewed with the certifying broker is
required for which license?
ethics - Answer: continuing education requirements mandate at least two hours instruction in
april 30 - Answer: in order to avoid an additional processing fee, licensees should complete their
required continuing education courses during the renewal year on or before
6 years - Answer: a broker who goes out of business must provide a name and address where past
records will be available for
broker - Answer: Individual licensed to charge the public for real estate services
Broker-salesperson - Answer: Fully qualified broker who remains under another broker's supervision
Continuing Education - Answer: Classes required for license renewal
Guaranty Fund - Answer: Reimburses people defrauded or badly served by licensees in real estate
transactions
, New Jersey Real Estate Commission - Answer: Administrator of real estate licenses
Real Estate License Act - Answer: Law governing the practice of real estate in New Jersey
REALTOR - Answer: member of a private real estate trade organization
REALTOR-ASSOCIATE - Answer: Salesperson who joins a particular real estate trade group
referral fee - Answer: Money paid another broker for sending a client or customer
salesperson - Answer: One licensed to assist a broker in real estate transactions
Title 11, Chapter 5 - Answer: state rules and regulations for real estate licensees
branch office - Answer: broker's additional place of business
Commingling - Answer: mixing broker's money with that of others
Duplicate original - Answer: copy of a real estate contract with original signatures
escrow account - Answer: Place for money belonging to clients and customers
guilty knowledge - Answer: awareness of wrongdoing with no attempt to stop it
probation - Answer: Least severe discipline by the Real Estate Commission
Revocation - Answer: cancellation of a real estate license
suspension - Answer: Temporary lifting of a real estate license
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