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Exam (elaborations)

Nj Real Estate - Licensing Requirements Questions With Correct Answers

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NJ REAL ESTATE - LICENSING REQUIREMENTS QUESTIONS WITH CORRECT ANSWERS

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Under which condition can a person conduct business without a license?


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None

QUESTION RATIONALE
No person shall engage either directly or indirectly in the business of a real
estate broker, broker-salesperson or salesperson, temporarily or otherwise,
and no person shall advertise or represent himself as being authorized to
act as a real estate broker, broker-salesperson or salesperson, or to
engage in any of the activities described in R.S.45:15-3, without being
licensed so to do.




Title 11, Chapter 5


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, Rules and regulations set up by the commission




Deposit


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1. Money offered as an indication of good faith regarding the future
performance of a purchase agreement. Also called earnest money. 2. A
tenant's security deposit.




Which of the following best describes when the Real Estate Commission may waive
education requirements for taking the state examination?


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Applicant's education and experience




Who is eligible for a waiver of education and experience requirements for licensure?


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A disabled US veteran who lives in new jersey




Salesperson licensed with a real estate referral company (SLWRERC)


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