New Jersey License Law
Which of the following describes a 'designated broker' in a NJ real estate firm?
AA broker designated to only work with commercial clients
BThe broker who holds ultimate supervisory responsibility for all licensees and activities of the brokerage✓ Correct
CA broker who only represents buyers
DA salesperson designated to handle MLS listings
Explanation
In a NJ real estate firm, the designated broker (principal or managing broker) bears ultimate supervisory responsibility for the firm, its licensees, escrow accounts, advertising, and compliance with all applicable laws and regulations.
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