NJ REAL ESTATE UPDATED EXAMINERS SET
QUESTIONS AND ANSWERS SURE A+
✔✔principal - ✔✔the one employing an agent; the client
✔✔procuring cause - ✔✔the one who brings about a sale
✔✔puffing - ✔✔harmless exaggeration as salesmanship
✔✔ready, willing, and able buyer - ✔✔one qualified and prepared to purchase
✔✔salesperson - ✔✔person licensed to assist a real estate broker
✔✔special agent - ✔✔one authorized to act for another in a specific transaction
✔✔subagent - ✔✔agent of an agent
✔✔transaction broker - ✔✔one who facilitates a transaction without functioning as an
agent
✔✔ Broker - ✔✔Individual licensed to charge the public for real estate services
✔✔Broker-salesperson - ✔✔Fully qualified broker who remains under another broker's
supervision
✔✔Continuing Education - ✔✔Classes required for license renewal
✔✔Guaranty Fund - ✔✔Reimburses people defrauded or badly served by licensees in
real estate transactions
✔✔New Jersey Real Estate Commission - ✔✔Administrator of real estate licenses
, ✔✔Real Estate License Act - ✔✔Law governing the practice of real estate in New
Jersey
✔✔REALTOR® - ✔✔member of a private real estate trade organization
✔✔REALTOR-ASSOCIATE® - ✔✔Salesperson who joins a particular real estate trade
group
✔✔Referral fee - ✔✔Money paid another broker for sending a client or customer
✔✔Salesperson - ✔✔One licensed to assist a broker in real estate transactions
✔✔Salesperson licensed with a real estate referral company (SLWRERC) - ✔✔licensee
limited to presenting prospective clients and customers to the broker
✔✔Title 11, Chapter 5 - ✔✔state rules and regulations for real estate licensees
✔✔new jersey's real estate license law is known as - ✔✔title 45
✔✔Broker's additional place of business - ✔✔branch office
✔✔Mixing broker's money with that of others - ✔✔commingling
✔✔Copy of real estate contract with original signatures - ✔✔Duplicate original
✔✔Place for money belonging to clients and customers - ✔✔escrow account
✔✔Awareness of wrong doing with no attempt to stop it - ✔✔guilty knowledge
✔✔Least severe discipline by the Real Estate Commission - ✔✔probation
✔✔Cancellation of a real estate license - ✔✔Revocation
✔✔Temporary lifting of a real estate license - ✔✔suspension
✔✔another name for escrow account - ✔✔trust account
✔✔Form sellers must sign for an office-exclusive listing - ✔✔Waiver of Broker
Cooperation
✔✔An unlicensed New Jersey resident may - ✔✔draw up a binding lease for a new
tenant in a property the resident owns
QUESTIONS AND ANSWERS SURE A+
✔✔principal - ✔✔the one employing an agent; the client
✔✔procuring cause - ✔✔the one who brings about a sale
✔✔puffing - ✔✔harmless exaggeration as salesmanship
✔✔ready, willing, and able buyer - ✔✔one qualified and prepared to purchase
✔✔salesperson - ✔✔person licensed to assist a real estate broker
✔✔special agent - ✔✔one authorized to act for another in a specific transaction
✔✔subagent - ✔✔agent of an agent
✔✔transaction broker - ✔✔one who facilitates a transaction without functioning as an
agent
✔✔ Broker - ✔✔Individual licensed to charge the public for real estate services
✔✔Broker-salesperson - ✔✔Fully qualified broker who remains under another broker's
supervision
✔✔Continuing Education - ✔✔Classes required for license renewal
✔✔Guaranty Fund - ✔✔Reimburses people defrauded or badly served by licensees in
real estate transactions
✔✔New Jersey Real Estate Commission - ✔✔Administrator of real estate licenses
, ✔✔Real Estate License Act - ✔✔Law governing the practice of real estate in New
Jersey
✔✔REALTOR® - ✔✔member of a private real estate trade organization
✔✔REALTOR-ASSOCIATE® - ✔✔Salesperson who joins a particular real estate trade
group
✔✔Referral fee - ✔✔Money paid another broker for sending a client or customer
✔✔Salesperson - ✔✔One licensed to assist a broker in real estate transactions
✔✔Salesperson licensed with a real estate referral company (SLWRERC) - ✔✔licensee
limited to presenting prospective clients and customers to the broker
✔✔Title 11, Chapter 5 - ✔✔state rules and regulations for real estate licensees
✔✔new jersey's real estate license law is known as - ✔✔title 45
✔✔Broker's additional place of business - ✔✔branch office
✔✔Mixing broker's money with that of others - ✔✔commingling
✔✔Copy of real estate contract with original signatures - ✔✔Duplicate original
✔✔Place for money belonging to clients and customers - ✔✔escrow account
✔✔Awareness of wrong doing with no attempt to stop it - ✔✔guilty knowledge
✔✔Least severe discipline by the Real Estate Commission - ✔✔probation
✔✔Cancellation of a real estate license - ✔✔Revocation
✔✔Temporary lifting of a real estate license - ✔✔suspension
✔✔another name for escrow account - ✔✔trust account
✔✔Form sellers must sign for an office-exclusive listing - ✔✔Waiver of Broker
Cooperation
✔✔An unlicensed New Jersey resident may - ✔✔draw up a binding lease for a new
tenant in a property the resident owns
