New Jersey Real Estate Salesperson Exam — All Questions

The principle of contribution states that the value of a component or improvement is measured by:

• a.The raw number of square feet of floor area or land area that the improvement happens to occupy
• b.The owner's personal emotional attachment to and sentimental feelings about that improvement
• c.Its original construction or installation cost in every case, dollar for dollar, with no exception
• d.How much it adds to the overall value of the property, not its cost✓

Under contribution, an improvement is worth the amount it adds to the whole property's market value, which may be more or less than its cost. This principle explains why some renovations do not fully return their expense, a key point in over-improvement analysis.

Under Internal Revenue Code Section 121, a qualifying homeowner may generally EXCLUDE from taxable capital gain:

• a.Up to $250,000 of gain if single, or $500,000 if married filing jointly✓
• b.Up to a full one million dollars of gain on any property at all, at any time and any frequency
• c.All gain on any and every investment or rental property the taxpayer happens to own and sell
• d.Absolutely nothing, because gain on the sale of a home is always fully and entirely taxable

Section 121 lets homeowners who owned and used the home as their principal residence for at least two of the prior five years exclude up to $250,000 of gain (single) or $500,000 (married filing jointly). It applies to a primary residence, not to investment property.

Depreciation recapture on the sale of investment real estate means that:

• a.All of the depreciation deductions previously claimed are simply refunded to the investor in cash
• b.The investor is legally required to physically restore and rebuild the depreciated building itself
• c.Gain from prior depreciation may be taxed, often at a special rate✓
• d.No income tax is ever owed at all on the sale of a property that has previously been depreciated

When depreciated property is sold at a gain, the portion of gain due to depreciation deductions is 'recaptured' and taxed under special rules, reflecting the earlier tax benefit. It is a tax concept, not a requirement to rebuild, and it increases, not eliminates, tax on sale.

Which appraisal approach is generally MOST reliable for a special-purpose property, such as a church or public school, that rarely sells and earns no market income?

• a.The sales comparison approach, which depends on recent sales of similar comparable properties
• b.The income approach, which converts a property's market rental income into an indicated value
• c.The gross rent multiplier method, which relies on typical market rents that these lack entirely
• d.The cost approach✓

Special-purpose properties have few or no comparable sales and generate no market rent, so the cost approach (replacement cost new, less depreciation, plus land) is typically most reliable. Sales comparison lacks comparables and the income/GRM methods need market income these properties do not produce.

The four characteristics an item must have to possess value in the market, often remembered as DUST, are:

• a.Debt, Utility, Supply, and Taxes, a mix of unrelated financing and cost terms rather than value
• b.Demand, Utility, Scarcity, and Transferability✓
• c.Depreciation, Use, Sale, and Title, which describe stages of ownership rather than value itself
• d.Demand, Ownership, Scarcity, and Time, which swaps in two terms that are not part of the concept

For something to have market value it must have Demand (buyers who want it), Utility (usefulness), Scarcity (limited supply), and Transferability (the ability to convey it). The DUST acronym captures these four essentials of value.

Real estate salespersons in New Jersey are licensed and regulated by:

• a.The New Jersey Department of Community Affairs
• b.The New Jersey Association of Realtors
• c.The New Jersey Real Estate Commission, within the Department of Banking and Insurance✓
• d.The New Jersey Superior Court

The New Jersey Real Estate Commission (REC) operates within the Department of Banking and Insurance and licenses and disciplines brokers, broker-salespersons, and salespersons under N.J.S.A. 45:15-1 et seq. A trade association is a private membership organization and has no licensing authority.

A New Jersey salesperson may accept a commission for brokerage services:

• a.Only from the broker with whom the salesperson is licensed✓
• b.From any licensee involved in the deal
• c.Directly from the buyer at closing
• d.From the Real Estate Commission's fee account

A New Jersey salesperson works under and is paid only by the broker who holds the salesperson's license. A salesperson may not accept compensation directly from a buyer, seller, or another broker. The employing broker is responsible for supervising the salesperson and for handling escrow money.

The New Jersey Real Estate Guaranty Fund exists primarily to:

• a.Insure the value of properties sold through licensed brokers
• b.Reimburse consumers for an actual monetary loss from certain fraudulent acts of a licensee when a judgment cannot be collected✓
• c.Provide down-payment assistance to buyers
• d.Pay the salaries of Commission staff

The Guaranty Fund reimburses members of the public who obtain a final judgment against a licensee for an actual loss caused by fraud, misrepresentation, or deceit in a licensed transaction and cannot otherwise collect, subject to statutory limits. When the fund pays, the licensee's license is suspended until the fund is repaid. It is not an insurance or assistance program.

In New Jersey, the document a licensee uses to explain the types of business relationships available to a consumer is the:

• a.Consumer Information Statement (CIS)✓
• b.Property Condition Disclosure Statement
• c.Affiliated Business Arrangement notice
• d.Settlement Statement

New Jersey licensees must provide and review the Consumer Information Statement on New Jersey Real Estate Relationships at the first contact with a consumer. The CIS describes the roles of seller's agent, buyer's agent, disclosed dual agent, and transaction broker so the consumer can choose how to work with the licensee before sharing confidential information.

New Jersey recognizes a working relationship in which a licensee helps a buyer and seller with a transaction without representing either as an agent. This is a:

• a.Disclosed dual agent
• b.Universal agent
• c.Transaction broker✓
• d.Designated subagent

New Jersey recognizes the transaction broker (transaction-broker relationship), a non-agency arrangement in which the licensee provides services to complete the transaction but does not act as the agent of, or advocate for, either party. The licensee must still be honest and disclose known material information. This differs from a disclosed dual agent, who represents both parties as clients.

A standard-form contract of sale prepared by a New Jersey licensee for a one-to-four family residential property is subject to:

• a.A 30-day inspection contingency required by statute
• b.Mandatory approval by the Real Estate Commission
• c.A 10-day rescission right for the seller only
• d.A three-business-day attorney-review period during which either party's attorney may disapprove the contract✓

Under New Jersey practice, a real estate contract prepared by a licensee on a standard form must contain an attorney-review clause. Either the buyer or the seller may have an attorney review and disapprove the contract within three business days; if disapproved in time, the contract is void. This protects consumers because licensees, not attorneys, prepare the initial form.

Escrow money a New Jersey salesperson receives from a buyer must be:

• a.Deposited in the salesperson's personal account
• b.Turned over promptly to the broker to be held in the broker's escrow (trust) account✓
• c.Paid directly to the seller upon offer
• d.Retained by the salesperson until attorney review ends

Escrow and other client funds must be handled through the broker's trust account. A salesperson who receives money must deliver it promptly to the broker, who must keep it separate from personal and business funds. Commingling or misusing escrow money is a serious violation of New Jersey real estate license law.

To qualify for a New Jersey real estate salesperson license, an applicant must complete an approved pre-license course of:

• a.60 hours
• b.40 hours
• c.75 hours✓
• d.120 hours

New Jersey requires 75 hours of approved pre-license education before an applicant may sit for the salesperson examination. After passing the exam, the applicant must be sponsored by a licensed broker to activate the license and must meet continuing-education requirements to renew.

What is the minimum age at which New Jersey will issue a real estate salesperson's license?

• a.At least 21 years old
• b.At least 18 years old✓
• c.At least 19 years old
• d.At least 20 years old

No salesperson's or referral agent's license may be issued to a person who has not attained the age of 18 years. New Jersey sets no higher age for a salesperson; 21 is the threshold in some other states and for some other occupational licenses, not here. Cite: N.J.A.C. 11:5-3.6

Besides meeting the age requirement, what must a New Jersey salesperson applicant certify about their schooling?

• a.An associate degree from any college
• b.At least two years of college coursework
• c.Completion of the eighth grade only
• d.A high school education or equivalency✓

Applicants for a salesperson or referral agent license must certify that they possess a high school education or its equivalency. No college-level study is required, and an eighth-grade education is not enough. Cite: N.J.A.C. 11:5-3.6

How many hours of prelicensure education must a New Jersey salesperson applicant complete at a licensed school?

• a.75 hours✓
• b.60 hours
• c.90 hours
• d.45 hours

The salesperson and referral agent prelicensure course is a minimum of 75 hours. The 90-hour figure is the general broker course, which is only one part of the broker's larger requirement. Cite: N.J.A.C. 11:5-2.1; NJ Real Estate Commission, Requirements for Licensure

How is New Jersey's 150-hour broker prelicensure requirement divided among courses?

• a.A 75-hour course and a 75-hour course
• b.A 120-hour course and a 30-hour course
• c.A 90-hour course and two 30-hour courses✓
• d.A 60-hour course and three 30-hour courses

Broker candidates take a 90-hour general broker course plus two 30-hour courses, one on agency and ethics and one on office management, totaling 150 hours. All three must be completed within a two-year period or previously taken courses must be repeated. Cite: N.J.A.C. 11:5-2.1

What licensed experience must a New Jersey broker applicant have immediately before applying?

• a.Two years, continuous and full time
• b.Three years, continuous and full time✓
• c.Five years, continuous and full time
• d.One year, continuous and full time

The applicant must have been continuously licensed and employed on a full-time basis as a New Jersey real estate salesperson during the three years immediately preceding the application. The rule treats full time as at least 40 hours per week, and limits any other employment to part time. Cite: N.J.A.C. 11:5-3.8

A New Jersey broker candidate finishes the required courses and passes the broker examination. Within what period must the license application be filed?

• a.One year after successful completion✓
• b.Six months after successful completion
• c.Two years after successful completion
• d.90 days after successful completion

The candidate must pass the examination and apply for licensure not later than one year after successful completion. Letting that year lapse forces the education and examination steps to be repeated. Cite: N.J.A.C. 11:5-3.8; NJ Real Estate Commission, Requirements for Licensure

New Jersey real estate licenses are issued for what term, and on what date do they expire?

• a.One-year terms that expire on December 31
• b.Three-year terms that expire on June 30
• c.Four-year terms ending on March 31
• d.Two-year terms that expire on June 30✓

Broker, broker-salesperson, salesperson, referral agent and branch office licenses are issued on two-year license terms, and all licenses expire on June 30 of the second year following the year in which the term commenced. A license issued mid-term runs only to the end of that biennial term. Cite: N.J.A.C. 11:5-3.1

How many continuing education credit hours must a New Jersey licensee complete in each biennial license term?

• a.18 credit hours
• b.20 credit hours
• c.12 credit hours✓
• d.16 credit hours

At least 12 CE credit hours must be completed as a condition of biennial renewal. A licensed referral agent renewing as a referral agent is not required to complete CE. Cite: N.J.A.C. 11:5-12.3; NJ Real Estate Commission, CE credit hours breakdown

Of New Jersey's required continuing education credit hours, how many must be taken in ethics?

• a.2 hours of ethics✓
• b.4 hours of ethics
• c.3 hours of ethics
• d.6 hours of ethics

Two of the 12 hours must be on the topic of ethics. Ethics credit may substitute for core and elective hours, but core and elective credit may not substitute for the ethics requirement. Cite: N.J.A.C. 11:5-12.3; NJ Real Estate Commission, CE credit hours breakdown

Within New Jersey's 12-hour CE requirement, how much is set aside for fair housing and the Law Against Discrimination, and how much for agency?

• a.Two hours fair housing and two hours agency
• b.One hour fair housing and one hour agency✓
• c.Three hours fair housing and one hour agency
• d.Four hours fair housing, no agency hours

The Commission's breakdown is 1 hour of fair housing and the New Jersey Law Against Discrimination, 1 hour of agency, 2 hours of ethics, 2 hours of any core topic, and 6 hours of any combination of core and elective topics. Cite: NJ Real Estate Commission, breakdown of CE credit hours (nj.gov/dobi/division_rec)

By what date in the renewal year should a New Jersey licensee finish continuing education to avoid an additional processing fee?

• a.March 31
• b.May 31
• c.June 30
• d.April 30✓

The Commission's deadline to complete CE without an added fee is April 30 of the renewal year; the license itself expires June 30. Credits earned between May 1 and June 30 carry an additional processing fee. Cite: N.J.A.C. 11:5-12.3; NJ Real Estate Commission, Continuing Education FAQs

How is the New Jersey Real Estate Commission composed?

• a.Six brokers, two public members, and one State official
• b.Five brokers, two public members, and one State official✓
• c.Three brokers, three public members, and two officials
• d.Seven brokers, one public member, and no State official

The Commission, established in 1921, has eight members: five who have been licensed New Jersey brokers for at least ten years, two public members, and one representative of an appropriate governmental department. Cite: NJ Real Estate Commission, About the New Jersey Real Estate Commission (nj.gov/dobi/division_rec/reabout.html)

Besides the Real Estate Guaranty Fund, which law does the New Jersey Real Estate Commission administer?

• a.The Planned Real Estate Development Full Disclosure Act
• b.The New Jersey Consumer Fraud Act's real estate part
• c.The Real Estate Sales Full Disclosure Act✓
• d.The Hotel and Multiple Dwelling Law of New Jersey

The Commission administers the Real Estate Guaranty Fund and the Real Estate Sales Full Disclosure Act, which governs the marketing of out-of-State property in New Jersey. The Planned Real Estate Development Full Disclosure Act is administered by the Department of Community Affairs, not the Commission. Cite: NJ Real Estate Commission, About the New Jersey Real Estate Commission; N.J.S.A. 45:22A-23(f)

Before the Real Estate Guaranty Fund will consider paying a judgment creditor, what must that creditor already have done?

• a.Had a writ of execution issued and examined the debtor✓
• b.Filed a complaint with the Commission within 30 days
• c.Obtained a court order directing the Fund to pay out
• d.Proven the licensee's license was already suspended

The judgment creditor must have a writ of execution issued, make a bona fide effort to examine the judgment debtor under oath, conduct other reasonable searches for assets, and report the results in writing to the officer to whom the writ is directed. The Fund is a last resort, not a first stop. Cite: N.J.A.C. 11:5-8.2(b)

Under the rule adopted in 2024, when may a New Jersey salesperson be paid a brokerage commission through a limited liability company?

• a.Whenever the employing broker consents in writing
• b.Only if the LLC itself holds a broker license
• c.If the LLC is registered with the Commission✓
• d.Only if the LLC has no other members

A salesperson or broker-salesperson may accept commission payment through an entity formed and registered with the Commission, and the licensee must be a member, partner, shareholder or otherwise hold an ownership interest in it. The entity itself performs no brokerage services and holds no license. Cite: N.J.A.C. 11:5-3.16 (adopted effective August 19, 2024); N.J.S.A. 45:15-16

A New Jersey broker terminates a salesperson. How quickly must the broker return the license to the Commission or process the termination online?

• a.Within 30 calendar days
• b.Within 10 business days
• c.Within three calendar days
• d.Within 5 business days✓

Within five business days of issuing a notice of termination or receiving a resignation, the broker must deliver or mail the license to the Commission or process the termination online, and must send written notice of having done so to the licensee's last known residence address. Cite: N.J.A.C. 11:5-3.11

Which conduct is blockbusting under the New Jersey Real Estate Commission's rules?

• a.Refusing to show a listing to a buyer who holds a housing voucher
• b.Soliciting listings based on a race-linked change in value✓
• c.Splitting a commission with an unlicensed referrer
• d.Advertising a property without the broker's name

Blockbusting is affirmatively soliciting the sale, lease or listing of residential property on the grounds of an alleged change in value due to the presence or prospective entry into the neighborhood of persons of another race, religion or ethnic origin. The other three answers describe real violations, but of different rules. Cite: N.J.A.C. 11:5-7.4(a)

A buyer signs a contract with the developer for a condominium unit. Under the Planned Real Estate Development Full Disclosure Act, how long does the buyer have to cancel without cause?

• a.Until midnight of the seventh calendar day after signing✓
• b.Until midnight of the third business day after signing
• c.Until midnight of the tenth calendar day after signing
• d.Until midnight of the fifth business day after signing

The purchaser may cancel without cause by sending or delivering written notice of cancellation by midnight of the seventh calendar day following the day the contract was executed, and the deposit must be promptly refunded in full. The notice must appear in 10-point bold type or larger directly above the purchaser's signature line. Cite: N.J.S.A. 45:22A-26(b)

PREDFDA exempts offerings of fewer than 100 lots, parcels, units or interests. How does that exemption apply to a 40-unit condominium?

• a.It applies, because the offering is under 100 units
• b.It applies only if the units are all owner-occupied
• c.It applies once the association is incorporated
• d.It does not apply to condominiums at any count✓

The under-100 exemption expressly does not apply to condominiums and cooperatives, irrespective of the number of lots, parcels, units or interests offered or disposed of. A 40-unit condominium must still register. Cite: N.J.S.A. 45:22A-25(a)(7)

Under PREDFDA, when must a developer deliver the current public offering statement to a purchaser?

• a.Within ten days after the contract is signed
• b.At the closing of title on the unit purchased
• c.On or before the contract date of disposition✓
• d.Before the buyer's mortgage commitment issues

No developer may dispose of a lot, parcel, unit or interest unless a current public offering statement is delivered to the purchaser on or before the contract date of the disposition, and the development must be registered with the agency before any interest is offered. Cite: N.J.S.A. 45:22A-26(a)

A New Jersey buyer contracts for a lot in a registered subdivision covered by the Real Estate Sales Full Disclosure Act. The contract may be cancelled without cause

• a.by midnight of the seventh calendar day after execution✓
• b.by midnight of the third business day after execution
• c.within thirty days of receiving the offering statement
• d.at any time before the deed is recorded by the county

The Commission's rules require that such a contract be cancellable without cause by written notice sent or delivered by midnight of the seventh calendar day following execution, with all monies promptly refunded. The contract must carry that notice in 10-point boldface type or larger. Cite: N.J.A.C. 11:5-9.17

Which sellers must complete the Flood Risk Addendum, questions 109 through 117, of New Jersey's property condition disclosure statement?

• a.Only sellers in a FEMA Special Flood Hazard Area
• b.All sellers, residential and non-residential alike✓
• c.Only sellers of one-to-four family homes in the State
• d.Only sellers whose property has flooded before

Completion of the Flood Risk Addendum is mandatory for all sellers of real property in New Jersey, including non-residential property; questions 1 through 108 are mandatory only for residential transactions. The disclosure must be made before the purchaser becomes obligated under any contract of purchase. Cite: P.L.2023, c.93; NJDEP Flood Risk Disclosure FAQs (dep.nj.gov/flooddisclosure)

A New Jersey salesperson accepts a buyer's deposit check on a Monday. By when must those monies reach the broker's special account?

• a.Within three business days of receipt
• b.Within ten business days of receipt
• c.Within five business days of receipt✓
• d.Within one business day of receipt

The rule requires monies of others to be deposited promptly, and defines promptly as not more than five business days next following receipt. The Commission has warned licensees that failing to deposit checks in that window is sanctionable. Cite: N.J.A.C. 11:5-5.1(e); NJ Real Estate Commission notice on deposit checks

A New Jersey broker leaves a small sum of personal money in the trust account so the bank will not close it. Is that commingling?

• a.Yes, any personal funds in the account are commingling
• b.Yes, unless the broker discloses it to every client
• c.No, provided the broker withdraws it every quarter
• d.No, nominal amounts for continuity are allowed✓

Maintaining clearly nominal amounts of the licensee's own funds in a trust account solely to provide continuity of the account is expressly not construed as commingling, as is a fixed amount compelled by law or regulation. Commingling is mingling principals' money with the broker's own, or failing to deposit or segregate it promptly. Cite: N.J.A.C. 11:5-5.1(c), (f) and (g)

From whom may a New Jersey salesperson accept compensation for brokerage services?

• a.From the seller directly, if the broker consents
• b.Only from the broker through whom they are licensed✓
• c.From any licensed broker involved in the transaction
• d.From the buyer, when acting as a buyer's agent

A salesperson or referral agent may be compensated only by the broker through whom they are licensed, under a written agreement signed by both that states the rate of compensation. Taking payment directly from a party, or from a cooperating broker, is outside that channel. Cite: N.J.A.C. 11:5-4.1

The written agreement between a New Jersey broker and a salesperson must promise payment of commissions within what period after the broker receives them?

• a.Within 10 business days✓
• b.Within 30 calendar days
• c.Within 15 business days
• d.Within 45 calendar days

The required written agreement must provide for payment of commissions to the salesperson or referral agent within 10 business days of their receipt by the broker. Cite: N.J.A.C. 11:5-4.1

After a New Jersey licensee's affiliation with a broker ends, when must the broker furnish a complete written accounting of monies due?

• a.Within 10 business days of termination
• b.Within 60 calendar days of termination
• c.Within 30 days of the termination date✓
• d.Only upon the licensee's written demand

Within 30 days of the termination of the affiliation, the broker must provide a complete written accounting of all monies due the salesperson or referral agent. Records of employment agreements and termination accountings must be kept for six years. Cite: N.J.A.C. 11:5-4.1

What office must a resident New Jersey broker maintain?

• a.A branch office in each county where they list
• b.Any office space shared with other licensees
• c.An office at the broker's own residence address
• d.A main office in New Jersey open to the public✓

Every resident broker must maintain a main office for the transaction of business in New Jersey, open to the public during usual business hours. There is no rule requiring a branch office per county. Cite: N.J.A.C. 11:5-4.4

A New Jersey broker wants to run the brokerage from part of their own house. What does the Commission's rule require?

• a.Written approval from the municipal zoning board
• b.A separate exterior entrance visible from the street✓
• c.A sign no smaller than four square feet at the curb
• d.A second telephone line dedicated to the business

An office located in a residence must be independent of the living quarters and have a separate exterior entrance plainly visible from the street, except for offices in existence before December 1, 1963. Cite: N.J.A.C. 11:5-4.4

How often must the New Jersey broker or broker-salesperson supervising an office be physically present there?

• a.At least five days per calendar week✓
• b.At least three days per calendar week
• c.At least four days per calendar week
• d.Every business day of the year

The office and its licensees must be under the direct supervision of a broker or broker-salesperson on a full-time basis, who must be physically present at that office during usual business hours at least five days per calendar week, excluding vacations and emergencies. Cite: N.J.A.C. 11:5-4.4

When a New Jersey salesperson advertises a listing, how must the employing broker's business name appear?

• a.In the same size print used for the salesperson's name
• b.Anywhere in the ad, in any size print at all
• c.Only in ads that are published in a newspaper
• d.In larger or more prominent print than the licensee's✓

When a salesperson, broker-salesperson or referral agent advertises, the regular business name of the broker through whom that person is licensed must appear in print larger than, or more prominent than, the licensee's own name. Cite: N.J.A.C. 11:5-6.1

A New Jersey salesperson's advertisement carries their personal cell number and email address. What else must the advertisement contain?

• a.The licensee's real estate license number
• b.The street address of the licensee's home
• c.The brokerage office telephone number✓
• d.A statement that the licensee is an employee

Any advertisement containing a licensee's personal telephone number, cell number or email address must also include the telephone number of the licensed brokerage office, and may include its street address. New Jersey does not require a license number in ads. Cite: N.J.A.C. 11:5-6.1

May a New Jersey broker pay a salesperson a bonus simply for sending buyers to an affiliated mortgage lender?

• a.Yes, if the borrower signs a written consent form
• b.No, payment requires services beyond mere referral✓
• c.Yes, so long as the amount is under $500 per loan
• d.No, unless the lender is licensed in New Jersey

Licensees may not accept any fee, kickback or thing of value merely for referring a customer to a lender, mortgage broker or other provider of related services, and brokers may not award bonuses or prizes based on the number of referrals. Compensation is allowed only for services actually performed beyond mere referral. Cite: N.J.A.C. 11:5-7.2

When must a New Jersey licensee deliver copies of a fully executed contract of sale to the parties?

• a.Within three business days of full execution
• b.At the attorney review period's conclusion
• c.Immediately upon the instrument being executed✓
• d.Before the deposit is placed into escrow

Licensees must immediately deliver to all parties a clear copy with original signatures of any fully executed instrument, and must deliver a clear copy of an executed offer or counter-offer immediately upon its being signed. A fully executed listing contract goes to the client at the time of execution. Cite: N.J.A.C. 11:5-6.2

What must a New Jersey licensee furnish to an owner when taking a listing on residential property?

• a.A summary of the NJ Law Against Discrimination✓
• b.A copy of the broker's own fair housing policy
• c.A copy of the federal Fair Housing Act poster
• d.A statement of the property's prior sale prices

On taking a residential listing the licensee must furnish the owner a copy of a summary of the New Jersey Law Against Discrimination, prepared by the Attorney General, explaining which properties are covered and which are exempt. Cite: N.J.A.C. 11:5-6.4(j); N.J.S.A. 10:5-1 et seq.

Which housing characteristic is protected by the New Jersey Law Against Discrimination but not by the federal Fair Housing Act?

• a.Familial status of the prospective tenant
• b.The religious creed of a prospective buyer
• c.National origin of the prospective tenant
• d.Source of lawful income used to pay rent✓

The New Jersey list reaches beyond the federal classes to include source of lawful income used for rental or mortgage payments, along with marital, civil union and domestic partnership status, gender identity or expression, affectional or sexual orientation, and nationality. Refusing a housing voucher is therefore unlawful in New Jersey. Cite: N.J.A.C. 11:5-6.4(k); N.J.S.A. 10:5-12

At the latest, when must a New Jersey licensee give a buyer the Consumer Information Statement?

• a.At the signing of the contract of sale
• b.Before the buyer applies for a mortgage
• c.Not later than the first showing✓
• d.Within 24 hours after the first showing

The statement must be delivered before the first discussion of the buyer's motivation or financial ability to purchase, and in no event later than the first showing of a property. The same timing logic applies to sellers, before discussing motivation or desired price. Cite: N.J.A.C. 11:5-6.9