NJ Real Estate Exam 1 2025
300+ Questions & Answers /Latest 2025
1. Broker: Individual licensed to charge the public for real estate services
2. Broker-Salesperson: fully qualified broker who remains under another broker's supervision
3. Bureau of Subdivided Land Sales Control: state agency that approves and registers some out-of-state
property
4. Continuing Education: Classes required for license renewal
5. Guaranty Fund: Reimburses people defrauded or badly served by licensees in real estate transactions
6. New Jersey Real Estate Commission: Administrator of real estate licenses
7. Real Estate License Act: Law governing the practice of real estate in New Jersey
8. Real Estate Sales Full Disclosure Act: Regulations covering out-of-state properties sold in New Jersey
9. REALTOR®: member of a private real estate trade organization
10. REALTOR-ASSOCIATE: salesperson who joins a particular real estate trade group
11. Referral Agent: Licensee limited to presenting prospective clients and customers to the broker
12. Referral Fee: Money paid another broker for sending a client or customer
13. Salesperson: One licensed to assist a broker in real estate transactions
14. Title 11, Chapter 5: state rules and regulations for real estate licensees
15. Branch Office: Broker's additional place of business
16. Commingling: mixing broker's money with that of others
17. Duplicate Original: Copy of a real estate contract with original signatures
18. Escrow Account: Place for money belonging to clients and customers
19. Guilty Knowledge: Awareness of wrongdoing with no attempt to stop it
20. Probation: Least severe discipline by the Real Estate Commission
21. Revocation: Cancellation of a real estate license
22. Suspension: Temporary lifting of a real estate license
23. Trust Account: Another name for escrow account
24. Waiver of Broker Cooperation: form sellers must sign for an office-exclusive
listing
25. Agent: One authorized to act for another
26. Antitrust Laws: Regulations prohibiting price-fixing
27. Attorney-In-Fact: Person authorized to act under a power of attorney
28. Broker: one authorized to act for another in real estate transactions
29. Buyer's Broker: Agent who takes a buyer as the principal
30. Client: Principal who engages an agent
31. Commission: Broker's usual compensation
32. Consumer Information Statement: written explanation of a business relationship
33. Customer: Third party in a transaction, not the principal
34. Disclosed Dual Agent: One who works for both the seller and the buyer
35. Disclosure: Revealing to another any pertinent information
36. Dual Agency: Brokers taking both parties as principals
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, 37. Employee: salesperson whose broker pays Social Security, regulates hours, etc.
38. Fiduciary Relationship: Trust and confidence between parties
39. Fraud: Intentional or unintentional misleading of another who is harmed thereby
40. General Agent: One empowered for a wide range of actions
41. Independent Contractor: Salesperson who sets own hours, pays own estimated income taxes, etc
42. Kickback: Illegal sharing of a commission with seller
43. Latent Defect: problem not discoverable by normal prudent inspection
44. Law of Agency: Rules governing conduct of agents
45. Listing Agreement: Contract by which the owner retains a broker to find a buyer
46. Meeting of the Minds: agreement between a buyer and seller on major points
47. Megan's Law: Legislation requiring that communities be alerted to the presence of sex offenders
48. Power of Attorney: Written authorization of agency
49. Principal: The one employing an agent; the client
50. Procuring Cause: the one who brings about a sale
51. Puffing: Harmless exaggeration as salesmanship
52. Ready, Willing, and Able Buyer: One qualified and prepared to purchase
53. Salesperson: Person licensed to assist a real estate broker
54. Special Agent: one authorized to act for another in a specific transaction
55. Subagent: Agent of an agent
56. Transaction Broker: one who facilitates a transaction without functioning as an agent
57. Code of Ethics: Standards of conduct adopted by REALTORS
58. Conflict of Interest: problem when serving best interests of both the client and oneself
59. Errors and Omissions Insurance: real estate equivalent of malpractice coverage
60. Fraudulent Misrepresentation: Intentional Fraud
61. Graduate, REALTOR Institute: designation awarded for advanced study
62. Innocent Misrepresentation: Unintentional deception committed in ignorance
63. National Association of REALTORS: private nationwide organization of brokers and salespersons
64. Negligent Misrepresentation: fraud committed by someone who should have known better
65. New Jersey REALTORS: Statewide group of real estate licensees who choose
to join
66. REALTOR®: Member of a private national organization
67. Standard of Care: Competence normally expected
68. Attorney General's Memorandum: Statement about discrimination everyone listing property mus
receive
69. Blockbusting: Inducing panic selling based on prejudice
70. Civil Rights Act of 1866: federal law; protected classes are race and color; no exceptions
71. Department of Housing and Urban Development: federal agency enforcing civil rights compliance
72. Federal Fair Housing Act of 1968: federal law setting many protected classes; some exceptions
73. Law Against Discrimination: New Jersey's law governing discrimination in real estate transactions
74. Mount Laurel I and II: court cases covering moderate-income housing
75. Protected Class: Specific group that may not be discriminated against
76. Redlining: refusal to lend in certain areas, usually inner-city
77. Reverse Discrimination: "Benign" discrimination intended to correct past wrongs
78. Steering: channeling home seekers to or away from certain areas
79. Tester: undercover checker who monitors fair housing compliance
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300+ Questions & Answers /Latest 2025
1. Broker: Individual licensed to charge the public for real estate services
2. Broker-Salesperson: fully qualified broker who remains under another broker's supervision
3. Bureau of Subdivided Land Sales Control: state agency that approves and registers some out-of-state
property
4. Continuing Education: Classes required for license renewal
5. Guaranty Fund: Reimburses people defrauded or badly served by licensees in real estate transactions
6. New Jersey Real Estate Commission: Administrator of real estate licenses
7. Real Estate License Act: Law governing the practice of real estate in New Jersey
8. Real Estate Sales Full Disclosure Act: Regulations covering out-of-state properties sold in New Jersey
9. REALTOR®: member of a private real estate trade organization
10. REALTOR-ASSOCIATE: salesperson who joins a particular real estate trade group
11. Referral Agent: Licensee limited to presenting prospective clients and customers to the broker
12. Referral Fee: Money paid another broker for sending a client or customer
13. Salesperson: One licensed to assist a broker in real estate transactions
14. Title 11, Chapter 5: state rules and regulations for real estate licensees
15. Branch Office: Broker's additional place of business
16. Commingling: mixing broker's money with that of others
17. Duplicate Original: Copy of a real estate contract with original signatures
18. Escrow Account: Place for money belonging to clients and customers
19. Guilty Knowledge: Awareness of wrongdoing with no attempt to stop it
20. Probation: Least severe discipline by the Real Estate Commission
21. Revocation: Cancellation of a real estate license
22. Suspension: Temporary lifting of a real estate license
23. Trust Account: Another name for escrow account
24. Waiver of Broker Cooperation: form sellers must sign for an office-exclusive
listing
25. Agent: One authorized to act for another
26. Antitrust Laws: Regulations prohibiting price-fixing
27. Attorney-In-Fact: Person authorized to act under a power of attorney
28. Broker: one authorized to act for another in real estate transactions
29. Buyer's Broker: Agent who takes a buyer as the principal
30. Client: Principal who engages an agent
31. Commission: Broker's usual compensation
32. Consumer Information Statement: written explanation of a business relationship
33. Customer: Third party in a transaction, not the principal
34. Disclosed Dual Agent: One who works for both the seller and the buyer
35. Disclosure: Revealing to another any pertinent information
36. Dual Agency: Brokers taking both parties as principals
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, 37. Employee: salesperson whose broker pays Social Security, regulates hours, etc.
38. Fiduciary Relationship: Trust and confidence between parties
39. Fraud: Intentional or unintentional misleading of another who is harmed thereby
40. General Agent: One empowered for a wide range of actions
41. Independent Contractor: Salesperson who sets own hours, pays own estimated income taxes, etc
42. Kickback: Illegal sharing of a commission with seller
43. Latent Defect: problem not discoverable by normal prudent inspection
44. Law of Agency: Rules governing conduct of agents
45. Listing Agreement: Contract by which the owner retains a broker to find a buyer
46. Meeting of the Minds: agreement between a buyer and seller on major points
47. Megan's Law: Legislation requiring that communities be alerted to the presence of sex offenders
48. Power of Attorney: Written authorization of agency
49. Principal: The one employing an agent; the client
50. Procuring Cause: the one who brings about a sale
51. Puffing: Harmless exaggeration as salesmanship
52. Ready, Willing, and Able Buyer: One qualified and prepared to purchase
53. Salesperson: Person licensed to assist a real estate broker
54. Special Agent: one authorized to act for another in a specific transaction
55. Subagent: Agent of an agent
56. Transaction Broker: one who facilitates a transaction without functioning as an agent
57. Code of Ethics: Standards of conduct adopted by REALTORS
58. Conflict of Interest: problem when serving best interests of both the client and oneself
59. Errors and Omissions Insurance: real estate equivalent of malpractice coverage
60. Fraudulent Misrepresentation: Intentional Fraud
61. Graduate, REALTOR Institute: designation awarded for advanced study
62. Innocent Misrepresentation: Unintentional deception committed in ignorance
63. National Association of REALTORS: private nationwide organization of brokers and salespersons
64. Negligent Misrepresentation: fraud committed by someone who should have known better
65. New Jersey REALTORS: Statewide group of real estate licensees who choose
to join
66. REALTOR®: Member of a private national organization
67. Standard of Care: Competence normally expected
68. Attorney General's Memorandum: Statement about discrimination everyone listing property mus
receive
69. Blockbusting: Inducing panic selling based on prejudice
70. Civil Rights Act of 1866: federal law; protected classes are race and color; no exceptions
71. Department of Housing and Urban Development: federal agency enforcing civil rights compliance
72. Federal Fair Housing Act of 1968: federal law setting many protected classes; some exceptions
73. Law Against Discrimination: New Jersey's law governing discrimination in real estate transactions
74. Mount Laurel I and II: court cases covering moderate-income housing
75. Protected Class: Specific group that may not be discriminated against
76. Redlining: refusal to lend in certain areas, usually inner-city
77. Reverse Discrimination: "Benign" discrimination intended to correct past wrongs
78. Steering: channeling home seekers to or away from certain areas
79. Tester: undercover checker who monitors fair housing compliance
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