100+ Free NJ RE Broker Practice Questions

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What is the gross rent multiplier (GRM) for a New Jersey residential investment property that sold for $320,000 with a monthly gross rent of $2,000?

160

13.3

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ArticleFree Real Estate Broker Practice Test by State 2026: 1,500+ Questions24 min read

2026 Statistics

Key Facts: NJ RE Broker Exam

~50%

First-Time Pass Rate

PSI

110

Exam Questions

National + State portions

70%

Passing Score

Each portion separately

150 hrs

Pre-License Education

NJREC requirement

3 yrs

Salesperson Experience

Full-time licensee

$65

Exam Fee

PSI

New Jersey's broker exam requires 150 hours of pre-license education — one of the higher requirements nationally — and 3 years of salesperson experience. The exam tests brokerage operations, trust account management, the NJ Real Estate Licensing Act, and NJREC regulations. New Jersey is distinctive for its mandatory continuing education requirements, the Industrial Site Recovery Act (ISRA) for environmental contamination, and strict escrow account regulations enforced by the NJ Real Estate Commission.

Sample NJ RE Broker Practice Questions

Try these sample questions to test your NJ RE Broker exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Under the New Jersey Real Estate Licensing Act, what is the minimum pre-license education requirement for a broker license?

A.75 hours

B.90 hours

C.120 hours

D.150 hours

Explanation: New Jersey requires 150 hours of approved pre-license education for a broker license, which is among the highest requirements in the nation. This education must include specific courses in real estate law, agency relationships, brokerage management, and other broker-level topics. The 150-hour requirement is significantly more than the 75-hour salesperson pre-license requirement and reflects the increased responsibilities of broker-level practice.

2A New Jersey real estate broker receives an earnest money deposit. Within how many business days must the deposit be placed in the trust account?

A.1 business day

B.2 business days

C.3 business days

D.5 business days

Explanation: In New Jersey, a broker must deposit earnest money and other trust funds into the escrow/trust account within 3 business days of receipt, unless the contract specifies otherwise. This prompt deposit requirement protects the interests of all parties involved in the transaction and is a key provision of the NJREC regulations governing trust account management.

3What is the attorney review period for residential real estate contracts in New Jersey?

A.3 business days

B.5 business days

C.7 calendar days

D.10 business days

Explanation: New Jersey has a unique 3-business-day attorney review period for residential real estate contracts. During this period, either the buyer's or seller's attorney may review the contract and approve, disapprove, or request modifications. If either attorney disapproves the contract within the 3-business-day period, the contract is voided. This right exists even if neither party has an attorney at the time of signing. The attorney review clause is a distinctive feature of New Jersey real estate practice.

4Under NJREC regulations, a broker must maintain trust account records for how long?

A.3 years

B.5 years

C.6 years

D.10 years

Explanation: NJREC requires New Jersey real estate brokers to maintain trust account records for a minimum of 6 years. This includes bank statements, deposit records, disbursement records, reconciliation reports, and all supporting documentation. The 6-year retention period is longer than many other states and aligns with New Jersey's statute of limitations for certain civil actions. Failure to maintain records for the required period can result in disciplinary action.

5A New Jersey broker discovers that one of their salespersons has been operating under an expired license for the past month. What is the broker's liability?

A.No liability since the salesperson is responsible for their own license renewal

B.The broker may face disciplinary action for failure to supervise and permitting unlicensed activity

C.The broker is only liable if they were specifically notified of the expiration

D.The broker must pay a fine but cannot lose their license

Explanation: A New Jersey broker is responsible for supervising all licensees operating under their brokerage, including verifying that all licenses are current and active. Allowing a salesperson to practice with an expired license constitutes a failure of supervision and permitting unlicensed activity, both of which are grounds for disciplinary action against the broker by NJREC. This responsibility exists regardless of whether the broker had actual knowledge of the expiration.

6What is the New Jersey realty transfer fee for the first $150,000 of a residential property sale?

A.$1 per $500

B.$2 per $500

C.$3.35 per $500

D.$4.25 per $500

Explanation: New Jersey's realty transfer fee is $2 per $500 (or $4 per $1,000) for the first $150,000 of the selling price. Above $150,000, the rate increases to $3.35 per $500 (or $6.70 per $1,000). The realty transfer fee is generally paid by the seller in New Jersey and is calculated on the full consideration. Certain exemptions apply, including transfers between spouses, transfers to or from governmental entities, and properties sold for under $100. This tiered structure is unique to New Jersey.

7Under New Jersey's Law Against Discrimination (LAD), which protected class is included that is NOT covered under the federal Fair Housing Act?

A.Race

B.Familial status

C.Sexual orientation

D.National origin

Explanation: New Jersey's Law Against Discrimination (LAD) provides broader protections than the federal Fair Housing Act. The LAD specifically protects against discrimination based on sexual orientation and gender identity in housing, employment, and public accommodations. While the federal Fair Housing Act covers race, color, religion, national origin, sex, familial status, and disability, New Jersey's LAD adds additional protected classes including sexual orientation, gender identity, marital status, and domestic partnership status.

8A New Jersey broker operates a brokerage with 15 salespersons. What is the broker's primary supervisory obligation?

A.Personally accompany each salesperson on at least one showing per month

B.Ensure adequate supervision of all licensees and their real estate activities

C.Review every offer before it is submitted to a seller

D.Hold weekly mandatory training sessions for all salespersons

Explanation: Under NJREC regulations, the supervising broker's primary obligation is to ensure adequate supervision of all licensees and their real estate activities. This includes overseeing transactions, ensuring compliance with laws and regulations, maintaining proper trust account procedures, and verifying that all advertising meets regulatory requirements. While personal involvement in showings, offer reviews, and training may be components of supervision, the overarching duty is to ensure adequate supervision of all activities.

9In New Jersey, what is the Industrial Site Recovery Act (ISRA) designed to address?

A.Workplace safety in construction sites

B.Environmental contamination cleanup requirements when industrial properties are sold or closed

C.Zoning regulations for industrial development

D.Tax incentives for industrial property owners

Explanation: The Industrial Site Recovery Act (ISRA) is a New Jersey environmental law that requires the cleanup of environmental contamination when certain industrial establishments are sold, closed, or transfer operations. ISRA applies to businesses with Standard Industrial Classification (SIC) codes that involve hazardous substances. Before an affected property can be transferred, the owner must either obtain a negative declaration (no contamination) or complete a cleanup plan approved by NJDEP. This law significantly impacts commercial real estate transactions in New Jersey.

10A New Jersey broker places a 'For Sale' sign on a listed property. What must the sign include?

A.The salesperson's cell phone number

B.The brokerage firm name as licensed with NJREC

C.The property's asking price

D.The broker's license number

Explanation: New Jersey advertising regulations require that all real estate advertising, including yard signs, display the brokerage firm name as it is licensed with NJREC. The salesperson's name may also appear, but the brokerage firm name is the mandatory element. The asking price, license number, and personal phone numbers are not required by state regulation, though they may be included voluntarily or required by local MLS rules.

About the NJ RE Broker Exam

The New Jersey real estate broker exam is administered by PSI on behalf of the New Jersey Real Estate Commission (NJREC). It consists of a national portion and a state-specific portion covering NJ real estate law, brokerage management, trust accounts, and NJREC regulations. Candidates must complete 150 hours of approved pre-license education and have 3 years of active salesperson experience.

Questions

110 scored questions

Time Limit

3 hours

Passing Score

70%

Exam Fee

$65 (PSI (for NJ Real Estate Commission))

NJ RE Broker Exam Content Outline

20%

Brokerage Management & Operations

Office management, branch offices, salesperson supervision, independent contractor agreements, advertising compliance, NJREC record-keeping requirements

18%

Trust Accounts & Fund Handling

Escrow account requirements, earnest money deposits, commingling, conversion, interest-bearing accounts, NJREC audit procedures

20%

New Jersey Real Estate Law

NJ Real Estate Licensing Act, NJREC regulations, consumer fraud protections, ISRA environmental requirements, New Home Warranty Program

15%

Contracts & Transactions

Purchase agreements, listing agreements, attorney review clause, closing procedures, title insurance, NJ-specific contract provisions

15%

Finance & Property Valuation

Mortgage types, NJ realty transfer fee, appraisal methods, property tax calculations, economic principles

12%

Agency, Ethics & Fair Housing

NJ agency disclosure requirements, dual agency, fiduciary duties, NJ Law Against Discrimination (LAD), federal fair housing

How to Pass the NJ RE Broker Exam

What You Need to Know

Passing score: 70%
Exam length: 110 questions
Time limit: 3 hours
Exam fee: $65

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

NJ RE Broker Study Tips from Top Performers

1Master NJ trust account rules: know escrow requirements, commingling vs conversion, interest-bearing accounts, and NJREC audit procedures

2Study the NJ Real Estate Licensing Act thoroughly — it governs all licensing, violations, and disciplinary actions by NJREC

3Understand the NJ attorney review clause — a 3-business-day period unique to New Jersey real estate transactions

4Learn NJ realty transfer fee calculations: $2 per $500 for the first $150,000, then $3.35 per $500 above $150,000 (seller pays)

5Know the Industrial Site Recovery Act (ISRA) requirements for environmental contamination disclosure in commercial transactions

Frequently Asked Questions

How hard is the New Jersey real estate broker exam?

The NJ broker exam is challenging with a ~50% first-time pass rate. It requires 150 hours of pre-license education (one of the highest requirements nationally), 3 years of salesperson experience, and covers both national real estate concepts and New Jersey-specific law including NJREC regulations. Trust account management and the attorney review process are heavily tested.

How many questions are on the New Jersey broker exam?

The New Jersey real estate broker exam has approximately 110 multiple-choice questions split between a national portion and a state-specific portion. You have 3 hours to complete both portions and need 70% on each portion to pass. The exam is administered by PSI at testing centers throughout New Jersey.

What are the prerequisites for a New Jersey broker license?

You need 150 hours of approved broker pre-license education, 3 years of active salesperson experience as a full-time licensee, and must pass both the national and state portions of the broker exam with 70% or higher. NJ also requires completion of specific courses in real estate law, agency, and brokerage management.

What topics are most tested on the New Jersey broker exam?

The most heavily tested broker-level topics include trust/escrow account management, brokerage operations and supervision, the NJ Real Estate Licensing Act, NJREC regulations, the attorney review clause (unique to NJ), the Industrial Site Recovery Act (ISRA), and the NJ Law Against Discrimination (LAD). The realty transfer fee calculation is also frequently tested.

100+ Free NJ RE Broker Practice Questions

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