Additional New Jersey Requirements
The final three items come from a four-subtopic list: the New Jersey Real Estate Sales Full Disclosure Act, the New Jersey Law Against Discrimination, the Real Estate Guaranty Fund, and the New Jersey Real Estate Time Share Act.
The Real Estate Guaranty Fund
The Fund is a last-resort remedy for a consumer defrauded by a licensee. Every licensee pays into it — the bulletin's $160 salesperson licensure fee is itemized as a $100 license fee, a $50 application fee and a $10 guaranty fund contribution. A claimant must first obtain a judgment against the licensee and show it cannot be collected; the Fund then reimburses up to a statutory cap per transaction. When the Fund pays on a licensee's account, that licensee's license is affected until the Fund is repaid, which is what keeps the remedy from operating as insurance for wrongdoing.
The Law Against Discrimination
New Jersey's Law Against Discrimination protects a substantially longer list of classes in housing than the federal Fair Housing Act's seven, and is enforced by the Division on Civil Rights. Its housing protections extend to characteristics the federal statute does not reach, and a broker practicing in New Jersey is answerable under both. N.J.A.C. 11:5-6.6 reinforces the point from the license-law side by prohibiting participation in any trade association or listing service whose rules conflict with the Law Against Discrimination.
Registered offerings: subdivided land and timeshares
Two New Jersey statutes regulate offerings rather than licensees. The Real Estate Sales Full Disclosure Act governs the offering of subdivided lands, requiring registration with the Commission and delivery of a public offering statement to the purchaser, with a statutory right to cancel. The Real Estate Time Share Act does the same for timeshare interests, again through registration, a public offering statement and a cancellation period the purchaser cannot be made to waive. In both, the consumer's protection is disclosure plus a window to get out, and the broker's job is to make sure the disclosure document actually reached the buyer in time.
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State-specific details
State exam facts
- State regulator
- New Jersey Real Estate Commission (NJREC)
- Exam vendor
- PSI
- Prelicensing education
- 150 hours of broker prelicensure education (a 90-hour general course first, then two 30-hour courses)
- Passing score
- 70% (PSI bulletin 1663: “70% (84 correct)”)
- Scored questions
- 115
- Time limit
- 240 minutes
Who regulates real estate brokers in New Jersey?
The New Jersey Real Estate Commission (NJREC), within the Department of Banking and Insurance, licenses brokers, broker-salespersons and salespersons. NJREC contracts with PSI to deliver the licensing exams.
What experience do I need before the New Jersey broker exam?
Broker candidates must have worked three years on a full-time basis as a salesperson and completed the 150 hours of broker prelicensure education. The order matters: the 90-hour general course must be completed first, then the two 30-hour courses, and only then may the experience approval application go to NJREC with its $25 fee. PSI will not seat a broker candidate until the Commission has approved that experience.
How is the New Jersey broker exam structured?
It is one integrated 115-question computer-based exam in a single 4-hour session, covering the national/general body of knowledge and New Jersey law together, plus 5 to 10 unscored experimental items. The pass mark is 70%, which PSI's bulletin states as 84 correct; the 115 questions are worth 120 points because some national broker items score up to two points.
Is there a separate New Jersey state score I have to pass?
No. New Jersey uses one integrated exam with a single pass mark, so unlike states that score the national and state halves separately, there is no state-only cut score to clear. In practice a candidate can do poorly on New Jersey law and still pass on national strength — which is exactly why the 40 New Jersey items are worth studying rather than gambling on.
Sources: https://www.nj.gov/dobi/division_rec/index.htm, https://test-takers.psiexams.com/api/content/bulletin/1663
In the New Jersey Real Estate Broker guide: A 60-question national practice exam, with a key that explains all four options and not just the right one. Practice here stays free.