New Jersey Real Estate Broker Exam — All Questions

In New Jersey, the licensee responsible for a brokerage firm's licensed activity and its escrow accounts is the:

• a.Senior salesperson
• b.Referral agent
• c.Broker of record✓
• d.Listing coordinator

Every New Jersey brokerage must have a broker of record who is responsible for the firm's licensed activity and its escrow accounts and who is accountable to the Commission for the conduct of the office and its affiliated licensees.

A salesperson at a New Jersey firm places a misleading advertisement without the broker's review. Under New Jersey supervision rules:

• a.Only the salesperson can ever be disciplined
• b.Advertising rules do not apply to individual salespersons
• c.The broker has no responsibility because the salesperson acted alone
• d.The broker may be disciplined for failing to supervise, because licensed activity is conducted in the broker's name✓

The broker must supervise affiliated licensees' advertising, disclosures, and handling of client money. Because licensed activity is conducted in the broker's name, inadequate supervision can result in discipline against the broker even when the error was made by an affiliated salesperson.

New Jersey requires a brokerage to advertise property:

• a.Only under the individual salesperson's personal name
• b.In the name of the brokerage and in a manner that is not misleading✓
• c.Without any identification of the firm
• d.Only in print media, never online

Advertising must be done in the name of the brokerage and must not be misleading. The broker is responsible for ensuring affiliated licensees advertise properly, which protects both consumers and the firm.