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NEW JERSEY REAL ESTATE ACTUAL EXAM PREP 2026 -
COMMISSION RULES & REGULATIONS ALL QUESTIONS AND
VERIFIED ANSWERS ALREADY A GRADED WITH EXPERT
FEEDBACK |NEW AND REVISED
1. A salesperson may not:: § accept any form of compensation except from his or her supervising broker;
§ maintain an escrow account or hold funds belonging to others; or
§ work for more than one New Jersey broker at a time.
2. Every broker who is a resident of New Jersey must: maintain a place of business in the state.
3. If the office is in the broker's own home it must have: a separate area with its own entrance visible from
the street.
4. The office can never be: in the home of a broker's associate.
5. Must be displayed on the exterior of the building: The broker's name and the words "Licensed
Real Estate Broker"
6. The license of the broker and those of any associates should be: prominently displayed
in the main oflce
7. A broker may not allow: someone else to use the firm name.
8. The main office and the persons working in it must be: under the full-time direct supervision
of either the broker or a qualified broker-salesperson
9. Full-time means: the supervising licensee is physically present at the oflce during usual business hours five days a week
and is not otherwise employed.
10. Each branch office must be under: the direct supervision of a broker or broker-salesperson and must have a
duplicate license. Additionally, the names of all licensees and the branch oflce supervisor must be recorded with the Commission and
prominently displayed in the branch oflce, along with the oflce license. No branch oflce can be in the home of a salesperson or
broker-salesperson.
11. A broker must establish a separate, special: trust account, also known as an escrow account, in an
authorized financial institution in New Jersey, to be used for the deposit of all money belonging to other persons (earnest money
deposits, rent collections, and the like). The name of the financial institution and the account number must be reported to the
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Commission both at license application and at the time of renewal.
12. Separate Escrow Accounts for Each Transaction: are not needed
13. The account must be clearly labeled so that it cannot: be claimed by creditors in the event of a
bankruptcy or by heirs at the broker's death.
14. Brokers are required to deposit funds coming into their keeping "promptly," which
the Commission defines as: within five business days of acceptance. Salespersons should immediately give any
escrow monies they receive to their broker
15. Commingling (Mixing of funds): Brokers are specifically prohibited from commingling (mixing) their own
funds with money in the trust account. In some circumstances, the broker may be authorized to collect a
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NEW JERSEY REAL ESTATE ACTUAL EXAM PREP 2026 -
COMMISSION RULES & REGULATIONS ALL QUESTIONS AND
VERIFIED ANSWERS ALREADY A GRADED WITH EXPERT
FEEDBACK |NEW AND REVISED
1. A salesperson may not:: § accept any form of compensation except from his or her supervising broker;
§ maintain an escrow account or hold funds belonging to others; or
§ work for more than one New Jersey broker at a time.
2. Every broker who is a resident of New Jersey must: maintain a place of business in the state.
3. If the office is in the broker's own home it must have: a separate area with its own entrance visible from
the street.
4. The office can never be: in the home of a broker's associate.
5. Must be displayed on the exterior of the building: The broker's name and the words "Licensed
Real Estate Broker"
6. The license of the broker and those of any associates should be: prominently displayed
in the main oflce
7. A broker may not allow: someone else to use the firm name.
8. The main office and the persons working in it must be: under the full-time direct supervision
of either the broker or a qualified broker-salesperson
9. Full-time means: the supervising licensee is physically present at the oflce during usual business hours five days a week
and is not otherwise employed.
10. Each branch office must be under: the direct supervision of a broker or broker-salesperson and must have a
duplicate license. Additionally, the names of all licensees and the branch oflce supervisor must be recorded with the Commission and
prominently displayed in the branch oflce, along with the oflce license. No branch oflce can be in the home of a salesperson or
broker-salesperson.
11. A broker must establish a separate, special: trust account, also known as an escrow account, in an
authorized financial institution in New Jersey, to be used for the deposit of all money belonging to other persons (earnest money
deposits, rent collections, and the like). The name of the financial institution and the account number must be reported to the
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12
,2|Page
Commission both at license application and at the time of renewal.
12. Separate Escrow Accounts for Each Transaction: are not needed
13. The account must be clearly labeled so that it cannot: be claimed by creditors in the event of a
bankruptcy or by heirs at the broker's death.
14. Brokers are required to deposit funds coming into their keeping "promptly," which
the Commission defines as: within five business days of acceptance. Salespersons should immediately give any
escrow monies they receive to their broker
15. Commingling (Mixing of funds): Brokers are specifically prohibited from commingling (mixing) their own
funds with money in the trust account. In some circumstances, the broker may be authorized to collect a
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