Exam (elaborations)
NJ Real Estate Exam Questions with Complete Solutions Graded A+
- Course
- Institution
NJ Real Estate Exam Questions with Complete Solutions Graded A+
[Show more]
Content preview
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
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller YourExamplug. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79223 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
