New Jersey License Law
A licensee who violates the NJ Consumer Fraud Act in a real estate transaction may be subject to:
AOnly a private lawsuit from the buyer
BTreble (triple) damages plus attorney fees under the Consumer Fraud Act, plus possible NJREC disciplinary action✓ Correct
COnly a fine from the NJREC
DNo penalties for minor violations
Explanation
The NJ Consumer Fraud Act provides powerful remedies including treble (triple) damages and attorney fees. A licensee's fraud in a real estate transaction can result in both CFA liability and NJREC disciplinary proceedings.
Related New Jersey New Jersey License Law Questions
- Which of the following activities requires a New Jersey real estate license?
- Under NJ's reciprocal licensing provisions, which of the following states has historically NOT had a full reciprocal agreement with NJ for real estate licenses?
- Commingling in New Jersey real estate refers to:
- If a New Jersey salesperson wants to change sponsoring brokers, what must occur first?
- If a NJ salesperson's broker loses their license, the salesperson must:
- How many continuing education hours must a New Jersey real estate salesperson complete per two-year renewal period?
- The NJREC is housed under which New Jersey state department?
- A NJ real estate salesperson may NOT do which of the following without broker supervision?
Practice More New Jersey Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Jersey Quiz →