EstatePass
Practice Of Real EstateLicense_lawHARD

Kevin passed the New Jersey real estate salesperson exam in January 2024 and received his initial license. He is now approaching his first renewal deadline. Under NJREC regulations, which of the following most accurately describes the CE obligation that applies to Kevin for his first renewal?

Correct Answer

A) Kevin must complete 12 hours of CE, the same as all other licensees, regardless of when during the cycle he obtained his license.

Under N.J.A.C. 11:5-12.4, licensees who are renewing their New Jersey real estate license for the first time (i.e., in the renewal cycle during which they originally obtained their license) are exempt from the continuing education requirement for that initial renewal. The CE requirement begins with the second renewal cycle. This recognizes that newly licensed individuals have recently completed pre-licensing education and do not need to immediately satisfy CE requirements.

Answer Options
A
Kevin must complete 12 hours of CE, the same as all other licensees, regardless of when during the cycle he obtained his license.
B
Kevin is exempt from CE for his first renewal because newly licensed salespersons are not required to complete CE until their second renewal cycle.
C
Kevin must complete a prorated number of CE hours based on the portion of the renewal cycle during which he held his license.
D
Kevin must complete 6 hours of CE for his first renewal because first-time renewals require only half the standard requirement.

Why This Is the Correct Answer

Sign up free to unlock full analysis

Why the Other Options Are Wrong

Sign up free to unlock full analysis

Deep Analysis of This Practice Of Real Estate Question

Sign up free to unlock full analysis

Background Knowledge for Practice Of Real Estate

Sign up free to unlock full analysis
Sign up free to unlock full analysis

Real World Application in Practice Of Real Estate

Sign up free to unlock full analysis

Common Mistakes to Avoid on Practice Of Real Estate Questions

Sign up free to unlock full analysis

Related Topics & Key Terms

Key Terms:

first_renewalcontinuing_educationnew_licenseece_exemptionnjrec

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.

Was this explanation helpful?

More Practice Of Real Estate Questions

People Also Study

Related Articles

Practice More Questions

Access 2,000+ practice questions and pass your real estate exam.

Start Practicing