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New Jersey Real Estate State Exam Practice Questions and Complete Solutions Graded A+
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New Jersey Real Estate State Exam Practice Questions and Complete Solutions Graded A+
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New Jersey Real EstateState Exam Practice
Questions and Complete
Solutions Graded A+
Denning [Date] [Course title]
,New Jersey's real estate license law is known as
A) The Statue of Frauds
B) Title VII
C) Title 45
D) The Law of Agency - Answer: C - Title 45
An unlicensed New Jersey Resident may
A) Help a neighbor sell his or her house in return for a used car
B) Negotiate the purchase of vacant land on behalf of a developer in return for one lot
C) Draw up a binding lease for a new tenant in a property the resident owns
D) Charge a fee for selling someone else's pizza business, including name, ovens, trucks, and small
building.
D) - Answer: C - Draw up a binding lease for a new tenant in a property the resident owns
A real estate license is valid for
A) 6 months
B) 1 year
C) 2 years
D) Life - Answer: C - 2 years
According to the law, to obtain a salesperson's license one must reach the age of
A) 18
B) 19
C) 20
D) 21 - Answer: A - 18
A broker must have completed how many hours of study in addition to the original salesperson's
course?
A) 30
,B) 75
C) 150
D) 165 - Answer: C - 150
The pre-license course must be taken over if the student does not apply for a license within
A) 6 months
B) 1 year
C) 2 years
D) Unlimited amount of time - Answer: B - 1 year
A nonresident broker requesting a NJ license must
A) Post a bond
B) Agree to be sued in NJ
C) Open an office in the state
D) Have a licensed NJ broker as a sponser - Answer: B - agree to be sued in NJ
An honorably discharged war veteran with service-connected wound or disability may
A) Sell real estate and charge commissions without holding a real estate license
B) Be exempt from payment of license fees
C) Obtain a license even if younger than 18
D) Be excused from taking the state licensing examination - Answer: B - Be exempt from payment of
license fees
If principle broker dies, associated salespersons should promptly
A) Change their affiliation to another firm
B) Have one of their members apply for a temporary broker's license
C) Obtain broker's licenses
D) Move the office to another location - Answer: B - Have one of their members apply for a temporary
broker's license
, The Real Estate Commission has how many members? - Answer: 8
Continuing education courses must be taken
A) By all licensees
B) In every two year period
C) For an initial broker's licnese
D) Within a year after license renewal - Answer: B - In every two year period
Which of the following are never allowed to sell real estate without a license?
A) Banks
B) Insurance brokers
C) Attorneys
D) Owners - Answer: B - Insurance brokers
The Guaranty Fund is funded by
A) fines paid by brokers who violate license law
B) A 1% tax on real estate sales over $500k
C) Fees paid at first license application
D) Real property taxes - Answer: C - Fees paid at first - license application
Real estate brokers may need special registration when selling some
A) Out-of-state property
B) Previously owned condo
C) Business opportunities
D) Real estate at an auction - Answer: A - Out of state property
Rental referral companies must
A) Charge prospective tenants no more than $25
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