NJ REAL ESTATE 2026 EXAM SCRIPT QUESTIONS
AND ANSWERS SURE A+
✔✔A broker is offering her mother's house for sale and will charge no commission.
Should she reveal that she is a licensed agent? - ✔✔Yes, as soon as she meets a
prospective buyer
✔✔A broker-run advertisement in a local newspaper - ✔✔may not advertise a free
appraisal, although a free CMA is permitted
✔✔what is reasonable effort for a seller's agent to determine information about a
property's physical condition? - ✔✔encourage the seller to compete a property
disclosure statement
✔✔a new jersey license is permitted to represent both parties to a transaction if he or
she obtains the - ✔✔informed, written consent of the seller, buyer, and any other agent
involved
✔✔Any agreement between competing offices to establish standard commission rates
is referred to as - ✔✔illegal price fixing
✔✔a salesperson working for a broker was disciplined for pursuing a flagrant and
continued course of misrepresentations, making false promises, and failing to pay over
money belonging to others. In this case, the broker's license - ✔✔will be suspended or
revoked only if the broker knew about the salesperson's activities and did nothing about
it
✔✔agent - ✔✔one authorized to act for another
✔✔antitrust laws - ✔✔regulations prohibiting price-fixing
✔✔attorney-in-fact - ✔✔person authorized to act under a power of attorney
, ✔✔broker - ✔✔one authorized to act for another in real estate transactions
✔✔Buyer's Broker - ✔✔agent who takes a buyer as the principal
✔✔client - ✔✔principal who engages an agent
✔✔commission - ✔✔broker's usual compensation
✔✔Consumer Information Statement - ✔✔written explanation of a business relationship
✔✔customer - ✔✔third party in a transaction, not the principal
✔✔disclosed dual agent - ✔✔one who works for both the seller and the buyer
✔✔disclosure - ✔✔revealing to another any pertinent information
✔✔Dual Agency - ✔✔brokers taking both parties as principals
✔✔employee - ✔✔salesperson whose broker pays Social Security, regulates hours, etc.
✔✔Fiduciary - ✔✔one who owes special duties to another
✔✔fiduciary relationship - ✔✔trust and confidence between parties
✔✔fraud - ✔✔intentional or unintentional misleading of another, who is harmed thereby
✔✔General Agent - ✔✔One empowered for a wide range of actions
✔✔Independent Contractor - ✔✔salesperson who sets own hours, pays own estimated
income taxes, etc.
✔✔kickback - ✔✔illegal sharing of a commission with seller t
✔✔latent defect - ✔✔problem not discoverable by normal prudent inspection
✔✔law of agency - ✔✔rules governing conduct of agents
✔✔listing agreement - ✔✔contract by which the owner retains a broker to find a buyer
✔✔meeting of the minds - ✔✔agreement between a buyer and seller on major points
✔✔megan's law - ✔✔legislation requiring that communities be alerted to the presence
of sex offenders
AND ANSWERS SURE A+
✔✔A broker is offering her mother's house for sale and will charge no commission.
Should she reveal that she is a licensed agent? - ✔✔Yes, as soon as she meets a
prospective buyer
✔✔A broker-run advertisement in a local newspaper - ✔✔may not advertise a free
appraisal, although a free CMA is permitted
✔✔what is reasonable effort for a seller's agent to determine information about a
property's physical condition? - ✔✔encourage the seller to compete a property
disclosure statement
✔✔a new jersey license is permitted to represent both parties to a transaction if he or
she obtains the - ✔✔informed, written consent of the seller, buyer, and any other agent
involved
✔✔Any agreement between competing offices to establish standard commission rates
is referred to as - ✔✔illegal price fixing
✔✔a salesperson working for a broker was disciplined for pursuing a flagrant and
continued course of misrepresentations, making false promises, and failing to pay over
money belonging to others. In this case, the broker's license - ✔✔will be suspended or
revoked only if the broker knew about the salesperson's activities and did nothing about
it
✔✔agent - ✔✔one authorized to act for another
✔✔antitrust laws - ✔✔regulations prohibiting price-fixing
✔✔attorney-in-fact - ✔✔person authorized to act under a power of attorney
, ✔✔broker - ✔✔one authorized to act for another in real estate transactions
✔✔Buyer's Broker - ✔✔agent who takes a buyer as the principal
✔✔client - ✔✔principal who engages an agent
✔✔commission - ✔✔broker's usual compensation
✔✔Consumer Information Statement - ✔✔written explanation of a business relationship
✔✔customer - ✔✔third party in a transaction, not the principal
✔✔disclosed dual agent - ✔✔one who works for both the seller and the buyer
✔✔disclosure - ✔✔revealing to another any pertinent information
✔✔Dual Agency - ✔✔brokers taking both parties as principals
✔✔employee - ✔✔salesperson whose broker pays Social Security, regulates hours, etc.
✔✔Fiduciary - ✔✔one who owes special duties to another
✔✔fiduciary relationship - ✔✔trust and confidence between parties
✔✔fraud - ✔✔intentional or unintentional misleading of another, who is harmed thereby
✔✔General Agent - ✔✔One empowered for a wide range of actions
✔✔Independent Contractor - ✔✔salesperson who sets own hours, pays own estimated
income taxes, etc.
✔✔kickback - ✔✔illegal sharing of a commission with seller t
✔✔latent defect - ✔✔problem not discoverable by normal prudent inspection
✔✔law of agency - ✔✔rules governing conduct of agents
✔✔listing agreement - ✔✔contract by which the owner retains a broker to find a buyer
✔✔meeting of the minds - ✔✔agreement between a buyer and seller on major points
✔✔megan's law - ✔✔legislation requiring that communities be alerted to the presence
of sex offenders
