New Jersey Real Estate Salesperson and
Broker Licensing Exam QUESTIONS AND
CORRECT ANSWERS (VERIFIED
ANSWERS) PLUS RATIONALES 2025
1. What is the minimum age to obtain a New Jersey real estate
salesperson license?
A. 17
B. 18
C. 19
D. 21
To be eligible, an applicant must be at least 18 years old and have a
high school diploma or equivalent.
2. How many hours of pre-licensing education are required for a
salesperson license in New Jersey?
A. 60 hours
B. 65 hours
, C. 75 hours
D. 90 hours
The NJ Real Estate Commission requires 75 hours of instruction from
a licensed real estate school.
3. A broker must deposit client funds into a trust account within:
A. 2 business days
B. 4 business days
C. 5 business days
D. 7 business days
In NJ, client funds must be deposited within 5 business days of
receipt.
4. Which of the following duties is owed to a customer, not a client?
A. Loyalty
B. Honesty
C. Confidentiality
D. Obedience
Honesty and fair dealing are owed to all parties, including customers.
5. Which entity regulates real estate licenses in New Jersey?
A. NJ Department of Commerce
B. NJ Department of Housing
C. New Jersey Real Estate Commission
D. NJ Division of Property Standards
The NJ Real Estate Commission oversees licensing and enforcement.
,6. The Real Estate Guaranty Fund was created to:
A. Fund real estate education
B. Reduce license fees
C. Compensate consumers harmed by licensees
D. Subsidize housing
The fund protects the public from dishonest acts by licensees.
7. How many members serve on the New Jersey Real Estate
Commission?
A. 3
B. 8
C. 10
D. 12
There are 8 members: 5 brokers, 2 public members, and 1
government representative.
8. Dual agency is permitted in New Jersey when:
A. The seller agrees only
B. Both parties give informed written consent
C. The broker signs for both parties
D. The broker’s firm agrees
Dual agency requires full disclosure and written consent from both
parties.
9. What is the maximum fine for a first-time violation of the NJ Real
Estate License Act?
, A. $2,000
B. $5,000
C. $7,500
D. $10,000
The Commission may fine up to $5,000 for a first offense.
10. A salesperson may only accept compensation from:
A. Any broker
B. A client
C. Their employing broker
D. A managing broker
Only the employing broker can pay the salesperson.
11. How long must NJ brokers retain transaction records?
A. 3 years
B. 6 years
C. 7 years
D. 10 years
Transaction records must be kept for 6 years per NJ law.
12. What is the purpose of the Attorney Review Clause in NJ
residential contracts?
A. To allow buyer/seller legal review within 3 business days
B. To permit brokers to draft deeds
C. To allow arbitration
Broker Licensing Exam QUESTIONS AND
CORRECT ANSWERS (VERIFIED
ANSWERS) PLUS RATIONALES 2025
1. What is the minimum age to obtain a New Jersey real estate
salesperson license?
A. 17
B. 18
C. 19
D. 21
To be eligible, an applicant must be at least 18 years old and have a
high school diploma or equivalent.
2. How many hours of pre-licensing education are required for a
salesperson license in New Jersey?
A. 60 hours
B. 65 hours
, C. 75 hours
D. 90 hours
The NJ Real Estate Commission requires 75 hours of instruction from
a licensed real estate school.
3. A broker must deposit client funds into a trust account within:
A. 2 business days
B. 4 business days
C. 5 business days
D. 7 business days
In NJ, client funds must be deposited within 5 business days of
receipt.
4. Which of the following duties is owed to a customer, not a client?
A. Loyalty
B. Honesty
C. Confidentiality
D. Obedience
Honesty and fair dealing are owed to all parties, including customers.
5. Which entity regulates real estate licenses in New Jersey?
A. NJ Department of Commerce
B. NJ Department of Housing
C. New Jersey Real Estate Commission
D. NJ Division of Property Standards
The NJ Real Estate Commission oversees licensing and enforcement.
,6. The Real Estate Guaranty Fund was created to:
A. Fund real estate education
B. Reduce license fees
C. Compensate consumers harmed by licensees
D. Subsidize housing
The fund protects the public from dishonest acts by licensees.
7. How many members serve on the New Jersey Real Estate
Commission?
A. 3
B. 8
C. 10
D. 12
There are 8 members: 5 brokers, 2 public members, and 1
government representative.
8. Dual agency is permitted in New Jersey when:
A. The seller agrees only
B. Both parties give informed written consent
C. The broker signs for both parties
D. The broker’s firm agrees
Dual agency requires full disclosure and written consent from both
parties.
9. What is the maximum fine for a first-time violation of the NJ Real
Estate License Act?
, A. $2,000
B. $5,000
C. $7,500
D. $10,000
The Commission may fine up to $5,000 for a first offense.
10. A salesperson may only accept compensation from:
A. Any broker
B. A client
C. Their employing broker
D. A managing broker
Only the employing broker can pay the salesperson.
11. How long must NJ brokers retain transaction records?
A. 3 years
B. 6 years
C. 7 years
D. 10 years
Transaction records must be kept for 6 years per NJ law.
12. What is the purpose of the Attorney Review Clause in NJ
residential contracts?
A. To allow buyer/seller legal review within 3 business days
B. To permit brokers to draft deeds
C. To allow arbitration
