New Jersey License Law
A NJ licensee who receives a gift card from a buyer's lender for a referral is:
APermitted as long as it is disclosed
BPotentially violating RESPA's anti-kickback provisions✓ Correct
CEncouraged if the lender is reputable
DOnly a violation if the gift exceeds $100
Explanation
RESPA Section 8 prohibits kickbacks or referral fees between settlement service providers; receiving gifts or compensation for referring buyers to a specific lender is a federal violation.
Related New Jersey New Jersey License Law Questions
- What is the required continuing education for NJ license renewal every two-year cycle?
- 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?
- The NJ Real Estate License Act (N.J.S.A. 45:15) requires real estate brokers to maintain records for:
- A NJ licensee who receives an offer from a buyer on a property where they represent the seller must:
- Which state agency regulates real estate licenses in New Jersey?
- A New Jersey salesperson's license is considered inactive when:
- A NJ real estate licensee who practices real estate under a trade name must:
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 →