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Practice Of Real EstateLicense_lawHARD

Angela is a licensed New Jersey salesperson who has been actively licensed for three years. She has completed the required 90-hour broker pre-licensure course and passed the broker's examination. Before the NJREC will issue Angela a broker's license, which of the following additional requirements must she satisfy?

Correct Answer

B) Angela must demonstrate that she has been actively engaged in real estate for at least three years as a licensed salesperson or broker-salesperson.

Under N.J.S.A. 45:15-9 and NJREC regulations, in addition to completing the 90-hour broker pre-licensure course and passing the broker's examination, an applicant for a New Jersey broker's license must demonstrate at least three years of active experience as a licensed salesperson or broker-salesperson. Angela has exactly three years of active licensure, which satisfies this experience requirement. The combination of education, examination, and experience is required for broker licensure.

Answer Options
A
Angela must submit proof of errors and omissions insurance coverage in her own name.
B
Angela must demonstrate that she has been actively engaged in real estate for at least three years as a licensed salesperson or broker-salesperson.
C
Angela must obtain a written recommendation from her current employing broker confirming her fitness for a broker's license.
D
Angela must pass an additional New Jersey law and ethics examination administered separately by the NJREC.

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Related Topics & Key Terms

Key Terms:

broker_licenseexperience_requirementthree_yearslicense_requirements

Related Concepts

Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.

Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.

A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.

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