Grace is a licensed New Jersey salesperson whose license expired two years ago. She did not renew it and has not conducted any real estate activities since expiration. She now wants to reinstate her license. Under New Jersey law, which of the following best describes what Grace must do to reinstate her expired license?
Correct Answer
A) Grace must complete any outstanding continuing education requirements and pay the applicable reinstatement fee, but she does not need to retake the examination if she applies within the reinstatement window.
Under NJREC regulations implementing N.J.S.A. 45:15-1 et seq., a licensee whose license has lapsed may reinstate it within a certain period by completing any outstanding continuing education requirements and paying the applicable reinstatement fees. New Jersey provides a reinstatement window during which a lapsed licensee does not need to retake the pre-licensure course or examination. However, if the license has been expired beyond the reinstatement window, more stringent requirements—potentially including retaking the examination—may apply. For a two-year lapse, Grace would generally need to complete CE and pay reinstatement fees, but the specific requirements depend on NJREC's current reinstatement rules and the applicable window.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
Commingling is the illegal act of mixing client funds with a broker's personal or business operating funds, while conversion is the unauthorized use of client funds for the broker's own benefit. Both are serious violations that can result in license revocation.
Commingling is the illegal act of mixing client trust funds with a broker's personal or business operating funds; conversion is the misappropriation of those funds.
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