NJ REAL ESTATE UPDATED FINAL EXAM
QUESTIONS AND ANSWERS SURE A+
✔✔An honorably discharged war veteran with a service connected wound or disability
may - ✔✔be exempt from payment of license fees
✔✔If a principle broker dies, associated salespersons should promptly - ✔✔have one of
their members apply for a temporary broker's license
✔✔The Real Estate Commission has how many members? - ✔✔eight
✔✔continuing education courses must be taken - ✔✔in every two-year period
✔✔which of the following are never allowed to sell real estate without a license -
✔✔Insurance brokers
✔✔the guaranty fund is funded by - ✔✔fees paid at first-license application
✔✔real estate brokers may need special registration when selling some - ✔✔out-of-
state properties
✔✔Rental referral companies must - ✔✔furnish prospective tenants with a written
contract
✔✔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 - ✔✔give no answer to
questions about the property
✔✔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? -
✔✔every three days
, ✔✔Certification that legal restrictions have been reviewed with the certifying broker is
required for which license? - ✔✔SLWRERC
✔✔continuing education requirements mandate at least two hours instruction in -
✔✔ethics
✔✔In order to avoid an additional processing fee, licensees should complete their
required continuing education courses during the renewal year on or before - ✔✔April
30 of the renewal year
✔✔A broker who goes out of business must provide a name and address where past
records will be available for - ✔✔six years
✔✔A licensed salesperson is allowed to - ✔✔leave one broker and affiliate with another
✔✔Under some circumstances, a real estate office may be in the home of - ✔✔broker
✔✔a broker wants to open a branch office in a new shopping mall in the next town. The
office can be supervised by - ✔✔Broker and salesperson
✔✔A salesperson accepts an earnest money deposit and turns it over to his broker. The
broker must - ✔✔deposit it within five days in a trust account
✔✔An escrow account may be opened in - ✔✔any authorized New Jersey financial
institution
✔✔A broker must keep copies of - ✔✔Contracts for six years
✔✔Every person who signs a contract is entitled to receive a duplicate original. When
are they entitled to receive it? - ✔✔immediately
✔✔Every sales contract prepared by a broker must contain a notice that - ✔✔the buyer
and seller may seek attorney review within three business days
✔✔Even when the broker is the seller's agent, buyers are entitled to - ✔✔fair dealing
✔✔For a license law violation, the Real Estate Commission could fine a licensee as
much as - ✔✔$50,000
✔✔The Commission will rule that someone could never again get a license after how
many violations? - ✔✔three
✔✔Rebate of part of a commission may be paid to a - ✔✔Buyer only
QUESTIONS AND ANSWERS SURE A+
✔✔An honorably discharged war veteran with a service connected wound or disability
may - ✔✔be exempt from payment of license fees
✔✔If a principle broker dies, associated salespersons should promptly - ✔✔have one of
their members apply for a temporary broker's license
✔✔The Real Estate Commission has how many members? - ✔✔eight
✔✔continuing education courses must be taken - ✔✔in every two-year period
✔✔which of the following are never allowed to sell real estate without a license -
✔✔Insurance brokers
✔✔the guaranty fund is funded by - ✔✔fees paid at first-license application
✔✔real estate brokers may need special registration when selling some - ✔✔out-of-
state properties
✔✔Rental referral companies must - ✔✔furnish prospective tenants with a written
contract
✔✔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 - ✔✔give no answer to
questions about the property
✔✔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? -
✔✔every three days
, ✔✔Certification that legal restrictions have been reviewed with the certifying broker is
required for which license? - ✔✔SLWRERC
✔✔continuing education requirements mandate at least two hours instruction in -
✔✔ethics
✔✔In order to avoid an additional processing fee, licensees should complete their
required continuing education courses during the renewal year on or before - ✔✔April
30 of the renewal year
✔✔A broker who goes out of business must provide a name and address where past
records will be available for - ✔✔six years
✔✔A licensed salesperson is allowed to - ✔✔leave one broker and affiliate with another
✔✔Under some circumstances, a real estate office may be in the home of - ✔✔broker
✔✔a broker wants to open a branch office in a new shopping mall in the next town. The
office can be supervised by - ✔✔Broker and salesperson
✔✔A salesperson accepts an earnest money deposit and turns it over to his broker. The
broker must - ✔✔deposit it within five days in a trust account
✔✔An escrow account may be opened in - ✔✔any authorized New Jersey financial
institution
✔✔A broker must keep copies of - ✔✔Contracts for six years
✔✔Every person who signs a contract is entitled to receive a duplicate original. When
are they entitled to receive it? - ✔✔immediately
✔✔Every sales contract prepared by a broker must contain a notice that - ✔✔the buyer
and seller may seek attorney review within three business days
✔✔Even when the broker is the seller's agent, buyers are entitled to - ✔✔fair dealing
✔✔For a license law violation, the Real Estate Commission could fine a licensee as
much as - ✔✔$50,000
✔✔The Commission will rule that someone could never again get a license after how
many violations? - ✔✔three
✔✔Rebate of part of a commission may be paid to a - ✔✔Buyer only
