New Jersey License Law
A NJ real estate salesperson may legally accept a bonus payment for referring business if:
AThe bonus comes directly from a satisfied client
BThe bonus is paid through the salesperson's employing broker✓ Correct
CThe amount is under $500
DThe referral is for an out-of-state transaction
Explanation
All compensation to a NJ salesperson for real estate activities, including bonuses from clients, must be paid through the employing broker. A salesperson may not receive direct payment from any party other than their broker.
Related New Jersey New Jersey License Law Questions
- A New Jersey real estate broker must retain transaction records for a minimum of how many years?
- Under the NJ License Act, a 'referral agent' license allows a licensee to:
- The NJREC may suspend or revoke a real estate license for all of the following EXCEPT:
- The NJREC is housed under which New Jersey state department?
- How many continuing education hours must a New Jersey salesperson complete each two-year renewal cycle?
- Under NJ law, which of the following is an example of 'blockbusting'?
- A NJ broker's trust account must be:
- A NJ real estate broker is responsible for all of the following EXCEPT:
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 →