Chapter 1: Real Estate Licensing REVIEW QUESTIONS

Question 1

New Jersey’s real estate license law is known as

Answer 1

Title 45.

Question 2

A New Jersey resident does NOT need a license to

Answer 2

help a neighbor sell his or her house in return for a used car.

Question 3

A real estate license is valid for

Answer 3

two years

Question 4

According to the law, to obtain a salesperson’s license one must reach the age of

Answer 4

21.

Question 5

A broker must have completed how many hours of study beyond the original salesperson’s course?

Answer 5

150

Question 6

The prelicense course must be taken over if the student does not apply for a license within

Answer 6

six months.

Question 7

A nonresident broker requesting a New Jersey license must

Answer 7

agree to be sued in New Jersey.

Question 8

An honorably discharged war veteran with a service-connected wound or disability may

Answer 8

be exempt from payment of license fees.

Question 9

If a principal broker dies, associated salespersons should promptly

Answer 9

have one of their members apply for a temporary broker’s license.

Question 10

The Real Estate Commission has how many members?

Answer 10

Eight

Question 11

Continuing education courses must be taken

Answer 11

in every two-year period.

Question 12

Which of the following are NEVER allowed to sell real estate without a license?

Answer 12

Insurance brokers

Question 13

The Guaranty Fund is funded by

Answer 13

fees paid at first-license application.

Question 14

Real estate brokers may need special registration when selling some

Answer 14

out-of-state properties.

Question 15

Rental referral agencies must

Answer 15

furnish prospective tenants with a written contract.

Question 16

Terry, an unlicensed assistant, is asked over the telephone, “How many bedrooms are there in that house at 78 Oak Street?” Terry is allowed to

Answer 16

give no answer to questions about the property.

Question 17

New Jersey requires the broker who sells out-of-state subdivided lands to

Answer 17

register with the state.

Question 18

In New Jersey, the buyer who purchases out-of-state subdivided land may cancel the contract for no reason within

Answer 18

seven calendar days.

Question 19

A developer advertises properties for sale in Vermont to New Jersey residents. The advertisements are all in French. Any additional forms, contracts, or other materials that are made available to prospective purchasers must be in

Answer 19

French.

Question 20

An apartment is listed with a rental referral agency, but it is not actively advertised to the public. How frequently must the agency check the apartment’s availability?

Answer 20

Every three days

Question 21

Certification that legal restrictions have been reviewed with the certifying broker is required for which license?

Answer 21

Referral agent