NJ REAL ESTATE EXAM/NJ REAL ESTATE EXAM
QUESTIONS AND CORRECT DETAILED ANSWERS
LATEST UPDATES 2025-2026 (VERIFIED ANSWERS)
2025 NJ REAL ESTATE EXAM ALREADY GRADED A+
implied warranty of habitability - ANSWER-landlord guarantees the property is fit
for habilitation and guarantees to make any necessary repairs to common
elements
assignment of lease - ANSWER-tenant who transfers entire lease. New tenant has
responsibility for payment of lease but old tenant maintains secondary liability
truth in renting - ANSWER-landlords must give a copy to all tenants and post a
copy on property. States rights and duties of residential landlords and tenants.
Not required for terms of less than one month, one or two family houses or three
family if the landlord lives there
ADA - ANSWER-disabled must have full and equal access to facilities and services
with reasonably achievable accomodations
,Broker - ANSWER-One who buys and sells for another for a fee.
Broker-Salesperson - ANSWER-A qualified broker who practices real estate in the
position of salesperson in another broker's office
bureau of subsidized land sales control - ANSWER-regulations covering out of
state properties sold in NJ
continuing education - ANSWER-12 hours required every two years, two of which
must be on ethics
NJ Real Estate Commission - ANSWER-Department of Banking and Insurance. 8
members. 5 brokers for at least 10 years, two from general public and one
representing the state government
Real estate license act - ANSWER-Title 45 chapter 15
Title 11, chapter 5 - ANSWER-NJ real estate license act administrative code
Real estate sales full disclosure act - ANSWER-covers the sales of out of state
property in NJ
referral agent - ANSWER-only allowed to refer prospects to a brokers office
,referral fee - ANSWER-part of a commission or fee paid to a broker who sends a
client
salesperson - ANSWER-works under a sponsoring licensed broker doing business
in the name of the broker
branch office - ANSWER-must be under the direct supervisor of a broker or broker
salesperson and must have a duplicate license
commingling - ANSWER-brokers are prohibited from mixing their own funds with
money in the trust account
duplicate original - ANSWER-multiple original copies for the parties signatures.
required for all listing contracts, sales contracts and leases
escrow account - ANSWER-also known as trust account. must be in an authorized
financial institution in NJ to be used for depositing all money belonging to other
persons
guilty knowledge - ANSWER-knew what was going on and did not attempt to stop
it
probation - ANSWER-first step after a complaint against a licensee. fine of up to
$5000
suspension - ANSWER-suspend a license fine up to $10,000
, revocation - ANSWER-permanently revoke licence. Fine up to $10,000
waiver of broker cooperation - ANSWER-what a seller must sign if they direct the
broker not to cooperate with any other brokers
principal - ANSWER-client
agency - ANSWER-a fiduciary relationship that falls within in the requirements of
the law of agency
fiduciary relationship - ANSWER-one of trust and confidence in which an agent is
responsible for the money and/or property of others. It requires putting the
principal's interest above all others, including the broker's own interest.
fiduciary - ANSWER-agent
COALD - ANSWER-Care, obedience, accounting, loyalty, disclosure
general agent - ANSWER-empowered to represent the principal in a broad range
of matters (ex: property manager)
universal agent - ANSWER-has authority to represent the principal in all matters
that can be delegated (ex: power of attorney)
special agent - ANSWER-authorized to represent that principal in one specific
capacity only (most broker relationships)
QUESTIONS AND CORRECT DETAILED ANSWERS
LATEST UPDATES 2025-2026 (VERIFIED ANSWERS)
2025 NJ REAL ESTATE EXAM ALREADY GRADED A+
implied warranty of habitability - ANSWER-landlord guarantees the property is fit
for habilitation and guarantees to make any necessary repairs to common
elements
assignment of lease - ANSWER-tenant who transfers entire lease. New tenant has
responsibility for payment of lease but old tenant maintains secondary liability
truth in renting - ANSWER-landlords must give a copy to all tenants and post a
copy on property. States rights and duties of residential landlords and tenants.
Not required for terms of less than one month, one or two family houses or three
family if the landlord lives there
ADA - ANSWER-disabled must have full and equal access to facilities and services
with reasonably achievable accomodations
,Broker - ANSWER-One who buys and sells for another for a fee.
Broker-Salesperson - ANSWER-A qualified broker who practices real estate in the
position of salesperson in another broker's office
bureau of subsidized land sales control - ANSWER-regulations covering out of
state properties sold in NJ
continuing education - ANSWER-12 hours required every two years, two of which
must be on ethics
NJ Real Estate Commission - ANSWER-Department of Banking and Insurance. 8
members. 5 brokers for at least 10 years, two from general public and one
representing the state government
Real estate license act - ANSWER-Title 45 chapter 15
Title 11, chapter 5 - ANSWER-NJ real estate license act administrative code
Real estate sales full disclosure act - ANSWER-covers the sales of out of state
property in NJ
referral agent - ANSWER-only allowed to refer prospects to a brokers office
,referral fee - ANSWER-part of a commission or fee paid to a broker who sends a
client
salesperson - ANSWER-works under a sponsoring licensed broker doing business
in the name of the broker
branch office - ANSWER-must be under the direct supervisor of a broker or broker
salesperson and must have a duplicate license
commingling - ANSWER-brokers are prohibited from mixing their own funds with
money in the trust account
duplicate original - ANSWER-multiple original copies for the parties signatures.
required for all listing contracts, sales contracts and leases
escrow account - ANSWER-also known as trust account. must be in an authorized
financial institution in NJ to be used for depositing all money belonging to other
persons
guilty knowledge - ANSWER-knew what was going on and did not attempt to stop
it
probation - ANSWER-first step after a complaint against a licensee. fine of up to
$5000
suspension - ANSWER-suspend a license fine up to $10,000
, revocation - ANSWER-permanently revoke licence. Fine up to $10,000
waiver of broker cooperation - ANSWER-what a seller must sign if they direct the
broker not to cooperate with any other brokers
principal - ANSWER-client
agency - ANSWER-a fiduciary relationship that falls within in the requirements of
the law of agency
fiduciary relationship - ANSWER-one of trust and confidence in which an agent is
responsible for the money and/or property of others. It requires putting the
principal's interest above all others, including the broker's own interest.
fiduciary - ANSWER-agent
COALD - ANSWER-Care, obedience, accounting, loyalty, disclosure
general agent - ANSWER-empowered to represent the principal in a broad range
of matters (ex: property manager)
universal agent - ANSWER-has authority to represent the principal in all matters
that can be delegated (ex: power of attorney)
special agent - ANSWER-authorized to represent that principal in one specific
capacity only (most broker relationships)
