NJ REAL ESTATE COMPLETE SCRIPT 2026
QUESTIONS WITH ACCURATE SOLUTIONS
GRADED A+
◉ Broker-salesperson. Answer: Has fulfilled all the requirements of a
broker yet chooses to work in a sales capacity for and in the name of
another broker.
◉ Continuing Education. Answer: All Broker, broker-salespersons, and
salespersons licensees must complete 12 hours of approved continuing
education courses before each two-year license renewal.
◉ Guaranty Fund. Answer: Was established to reimburse members of
the public who suffer a monetary loss due to wrongdoing in a real estate
transaction by a licensed broker or salesperson or an unlicensed
employee of a broker.
◉ NJ Real Estate Commission. Answer: Administrator of real estate
licenses
◉ Real Estate License Act. Answer: Law governing the practice of real
estate in New Jersey
◉ Real Estate Referral Company. Answer: A real estate firm that only
engages in listing rental units to find prospective tenants.
,◉ REALTOR. Answer: member of a private real estate trade association
and have no connection with licensing
◉ REALTOR-ASSOCIATE. Answer: a member of the National
Association of Realtors a private trade association
◉ Referral Fee. Answer: Money paid another broker for sending a client
or customer
◉ Salesperson. Answer: Works under a sponsoring licensed broker,
doing business in the name of the broker and receiving compensation
only from that broker.
◉ SLWRERC. Answer: A Salesperson Licensed with a Real Estate
Referral Company is a licensee whose activities are restricted to only
making referrals. An SLWRERC must be licensed with a real estate
referral company not a real estate firm.
◉ Title 11, Chapter 5. Answer: Rules and regulations set up by the
commission.
◉ June 30th of odd-numbered years.. Answer: All initial, renewed, and
reinstated licenses are issued on a biennial tern that expires when?
,◉ When the work is being performed for another person and in
anticipation of a fee or commission, a broker's license is required to?.
Answer: sell lots or other parcels for a developer
◉ A real estate license is not required for?. Answer: Owners handling
their own property as unrepresented sellers (referred to as for sale by
owner or FSBO)
◉ A selling broker can rebate part of the commission to the buyer in the
form of?. Answer: Credit or Check
◉ A broker may share commissions to who?. Answer: His or hers
associated salespersons
◉ Salespersons and brokers often use assistants, secretaries and similar
support staff do they need a license to qualify?. Answer: No
◉ Finder's Fee. Answer: Money or gifts to unlicensed persons who refer
buyers or sellers are forbidden. A broker is however, allowed to pay
other brokers.
◉ The experience requirement for a broker's or broker-salesperson's
license can be waived for who?. Answer: an honorably discharged war
veteran with a service-connected wound or disability. License and
renewal fees are also waived.
, ◉ The commission may agree to waive the education requirement for?.
Answer: - A licensed broker from another state
- Someone who previously licensed as a NJ broker within the past 5
years
- Someone who has taken equivalent real estate courses in college
- NJ attorneys
- In some cases, certain applicants who took an equivalent relicensing
course in another state.
◉ No license will be issued to anyone who.... Answer: convicted a
felony within the preceding 5 years of forgery, burglary, robbery, any
theft other than shoplifting, & criminal conspiracy to defraud.
◉ Applicants for a real estate license must be submitted to the
commission within?. Answer: One year of the date when the candidate
successfully completed the pre license course
◉ Someone who does not live in the state may obtain a NJ real estate
license after?. Answer: Qualifying in the usual way and also filing
irrevocable consent to service of process. (consent to be sued in this
state).
◉ Broker of Record. Answer: An individual who is the authorized
broker for the entire company
QUESTIONS WITH ACCURATE SOLUTIONS
GRADED A+
◉ Broker-salesperson. Answer: Has fulfilled all the requirements of a
broker yet chooses to work in a sales capacity for and in the name of
another broker.
◉ Continuing Education. Answer: All Broker, broker-salespersons, and
salespersons licensees must complete 12 hours of approved continuing
education courses before each two-year license renewal.
◉ Guaranty Fund. Answer: Was established to reimburse members of
the public who suffer a monetary loss due to wrongdoing in a real estate
transaction by a licensed broker or salesperson or an unlicensed
employee of a broker.
◉ NJ Real Estate Commission. Answer: Administrator of real estate
licenses
◉ Real Estate License Act. Answer: Law governing the practice of real
estate in New Jersey
◉ Real Estate Referral Company. Answer: A real estate firm that only
engages in listing rental units to find prospective tenants.
,◉ REALTOR. Answer: member of a private real estate trade association
and have no connection with licensing
◉ REALTOR-ASSOCIATE. Answer: a member of the National
Association of Realtors a private trade association
◉ Referral Fee. Answer: Money paid another broker for sending a client
or customer
◉ Salesperson. Answer: Works under a sponsoring licensed broker,
doing business in the name of the broker and receiving compensation
only from that broker.
◉ SLWRERC. Answer: A Salesperson Licensed with a Real Estate
Referral Company is a licensee whose activities are restricted to only
making referrals. An SLWRERC must be licensed with a real estate
referral company not a real estate firm.
◉ Title 11, Chapter 5. Answer: Rules and regulations set up by the
commission.
◉ June 30th of odd-numbered years.. Answer: All initial, renewed, and
reinstated licenses are issued on a biennial tern that expires when?
,◉ When the work is being performed for another person and in
anticipation of a fee or commission, a broker's license is required to?.
Answer: sell lots or other parcels for a developer
◉ A real estate license is not required for?. Answer: Owners handling
their own property as unrepresented sellers (referred to as for sale by
owner or FSBO)
◉ A selling broker can rebate part of the commission to the buyer in the
form of?. Answer: Credit or Check
◉ A broker may share commissions to who?. Answer: His or hers
associated salespersons
◉ Salespersons and brokers often use assistants, secretaries and similar
support staff do they need a license to qualify?. Answer: No
◉ Finder's Fee. Answer: Money or gifts to unlicensed persons who refer
buyers or sellers are forbidden. A broker is however, allowed to pay
other brokers.
◉ The experience requirement for a broker's or broker-salesperson's
license can be waived for who?. Answer: an honorably discharged war
veteran with a service-connected wound or disability. License and
renewal fees are also waived.
, ◉ The commission may agree to waive the education requirement for?.
Answer: - A licensed broker from another state
- Someone who previously licensed as a NJ broker within the past 5
years
- Someone who has taken equivalent real estate courses in college
- NJ attorneys
- In some cases, certain applicants who took an equivalent relicensing
course in another state.
◉ No license will be issued to anyone who.... Answer: convicted a
felony within the preceding 5 years of forgery, burglary, robbery, any
theft other than shoplifting, & criminal conspiracy to defraud.
◉ Applicants for a real estate license must be submitted to the
commission within?. Answer: One year of the date when the candidate
successfully completed the pre license course
◉ Someone who does not live in the state may obtain a NJ real estate
license after?. Answer: Qualifying in the usual way and also filing
irrevocable consent to service of process. (consent to be sued in this
state).
◉ Broker of Record. Answer: An individual who is the authorized
broker for the entire company
