New Jersey Real Estate Exam Topics: Complete Breakdown

New Jersey Real Estate Exam Topics

The New Jersey PSI exam has two sections: 80 national questions and 30 state-specific questions. Knowing exactly what is tested on each section lets you study efficiently and avoid wasting time on low-priority topics.

National Exam Content Areas

Property Ownership (approximately 8 questions) Types of property (real vs. personal), forms of ownership (joint tenancy, tenancy in common, community property — note NJ is NOT community property), and government powers in land (police power, eminent domain, taxation, escheat).

Land Use Controls (approximately 5 questions) Zoning, subdivision, environmental regulations, deed restrictions, and building codes.

Valuation and Market Analysis (approximately 7 questions) Sales comparison, cost, and income approaches to value. Market analysis (CMA) versus appraisal.

Financing (approximately 10 questions) Mortgage types (conventional, FHA, VA, USDA), RESPA, TILA/Regulation Z, amortization, points, and predatory lending.

Transfer of Property (approximately 8 questions) Types of deeds, title insurance, closing costs, recording, and chain of title.

Practice of Real Estate (approximately 13 questions) Agency relationships, listing agreements, MLS, antitrust (Sherman Act, price fixing, market allocation), and property management.

Real Estate Calculations (approximately 10 questions) Commission splits, transfer taxes, prorations, LTV, down payment, and area calculations.

Contracts (approximately 13 questions) Elements of valid contracts, types of listings, purchase and sale agreements, options, and leases.

Fair Housing (approximately 6 questions) Federal Fair Housing Act (7 classes), ADA, exemptions, and prohibited practices.

New Jersey State-Specific Topics (30 questions)

NJ License Law (Title 45:15) Know the NJREC structure: 9 members, under Division of Consumer Affairs, Dept of Law & Public Safety. Pre-license: 75 hours. License renewal: every 2 years with 12 hours of CE.

NJ Agency Law NJ requires written buyer broker agreements. Know seller's agent, buyer's agent, and disclosed dual agent roles. Understand how agency disclosure works at first contact.

Realty Transfer Fee Paid by the seller. Rate: $2 per $500 for first $150,000; $3.35 per $500 above $150,000. Know how to calculate both tiers.

1% Mansion Tax Paid by the buyer on residential properties selling for $1 million or more.

Attorney Review Period New Jersey residential contracts have a 3-business-day attorney review period. During this period, either party's attorney may void or modify the contract.

NJ Consumer Fraud Act Licensed agents can face personal liability for fraudulent or deceptive practices under this act — stronger consumer protection than many states.

NJ Fair Housing Federal 7 + marital status, domestic partnership, civil union, sexual orientation, gender identity, and (in some jurisdictions) source of income.

For a full NJ exam and licensing guide, visit [CARealestate.com/states/new-jersey](https://carealestate.com/states/new-jersey).