New Jersey Real Estate Exam: Everything You Need to Know

Scheduling and passing the New Jersey real estate exam is the last step to getting your license. While figuring out what to do next can be stressful, you shouldn’t fret because this article is your handy guide to get you into your new career.

In this article, we discuss everything you need to know about the New Jersey real estate exam from scheduling to passing on your first try. We’ll cover:

• How to schedule the New Jersey real estate licensing exam 
• How much it costs
• The documents you’ll need to register for the exam
• Where you can take it
• What is covered on the exam 
• Whether or not the exam is hard 
• Best study tips and exam prep recommendation

How to Schedule the New Jersey Real Estate Licensing Exam

To become a licensed real estate salesperson in New Jersey, you need to have passed your real estate pre-licensing courses. If this is already completed, then congrats! You can schedule the exam. 

To schedule your real estate exam, you must create an account on PSI Online and apply through your portal. Make sure your pre-licensing education provider has sent your eligibility to PSI, which will only happen if you have successfully completed the course requirements. Once done, you can visit the PSI website or call 855-579-4624 to schedule your exam.

Please note: once you pass the real estate exam in New Jersey, you will have to find a real estate brokerage to sponsor you (let you join their brokerage) and then you must submit a livescan form to the NJ Real Estate Commission. Afterwards, they will run a background check and assess your moral character. Once you pass the assessment, you will be sent your license.

Can You Take the Exam Online?

You can take the New Jersey real estate exam online via a computer with a user interface and live chat to ensure an easy experience. To take the exam online, you’ll need the following: 

• Desktop/laptop
• Keyboard
• Mouse 
• A stable internet connection 
• A working webcam
• A microphone 
• Google Chrome browser 

You’ll be required to present two valid government-issued means of identification with your photograph and signature. Before taking the exam, check if your computer meets the system requirements. Visit the North Central Jersey School of Business website for more information. 

However, there is also an option for candidates to take the exam in-person. New Jersey exam testing centers are located in: 

• Brick
• Cherry Hill
• Hamilton Square Area
• Linwood
• New Brunswick
• New Providence
• North Brunswick
• Northfield Area
• Rochelle Park
• Secaucus

How Much Does the Exam Cost?

The New Jersey real estate salesperson exam fee is $45. This amount is charged by PSI to schedule your exam. 

What to Bring on the Day of Your Exam

You are required to bring the following: 

• Two means of identification with matching names, a valid signature, non-expired issuance, and at least one bearing your photo. Examples of this include your driver’s license, U.S. social security card, green card, or a debit/credit card with a signature 
• A silent non-scientific calculator 

What Is on the New Jersey Real Estate Exam?

The New Jersey real estate exam is made up of both national and state-specific content. The following are topics that you can expect to see in the national section: 

• Property rights and ownership
• Zoning and land use regulations
• Contracts 
• Valuation and market analysis
• Fair housing
• Mortgages and financing
• General principles of agency
• Appraisals 
• Property condition and disclosures
• Title Insurance
• Transfer of title
• Real estate calculations
• Property Taxes and Assessment
• The practice of real estate
  

The following are topics you can expect to see in the state-specific section of the exam: 

• Duties and Powers of the Real Estate Commission
• Licensing Requirements
• Statutes and Rules Governing Licensee Activities
• Additional Requirements

Will There Be Math on the Exam?

You should be prepared for some math-related questions on your real estate exam. However, because the questions are often updated, it is difficult to predict precisely how many math problems you will be given.

Whenever you encounter a math question that you find challenging, the best course of action is to move on to other questions first. After finishing the other questions, you can return to solve the questions you skipped if you still have time. 

Is the New Jersey Real Estate Exam Hard?

Many people who have taken the New Jersey real estate exam have rated it as being very tough, as can be expected of any professional licensure exam. To pass the exam, you need to score at least 70%. If you put serious effort into studying and sufficiently prepare, you offer yourself a decent chance of passing the exam on your first try. 

How Many Questions Are on the New Jersey Real Estate Exam?

The New Jersey salesperson exam consists of 110 questions; each candidate is given 240 minutes (4 hours) to complete the exam. Note that there could be five to ten experimental questions on the exam that will not be graded, and you will not be informed which of the questions these are.

Since you must score 70% to pass the exam, you must answer 77 questions correctly out of the 110 you're given. 

What Is the Passing Rate for the Real Estate Exam in New Jersey?

In 2021, PSI reported a passing rate of 25% out of 1800 candidates that took the salesperson exam. Although PSI has stopped reporting its passing rate since then, it is safe to assume that the exam will be challenging and test-takers should prepare thoroughly for the exam.

How Many Times Can You Take the Real Estate Exam?

Once you finish the exam, your score will be displayed on the screen and sent to your email. If you fail, you can retake the exam within the one-year eligibility window as often as possible. 

To reschedule, wait 24 hours after your last exam, then log into the PSI website and follow the prompts. You’ll need to pay the $45 exam fee for every attempt. 

How to Pass the New Jersey Real Estate Exam

With the amount of work required, the financial burden, and the emotional toll it takes, becoming a licensed real estate agent in New Jersey is challenging. Here are some tips for incorporating into your daily study routine to help boost your chances of passing this exam on your first attempt:

Create a Study Schedule

Creating a study schedule can be an effective tool to help you pass your real estate licensing exam by helping you achieve the following:

Organization

Setting up a study schedule can assist you in organizing all your study materials into manageable bits that are simpler to take in and keep.

Time management

By making a study schedule, you may efficiently allocate your time well enough to cover all the material before the exam.

Prioritization

Depending on the structure of the exam and the importance of each topic, a study schedule can assist you in devoting more time to the most challenging topics.

Revision

By setting aside time for frequent revision sessions in your study schedule, you can reinforce your learning and identify any areas needing extra attention.

Confidence 

You may increase your confidence and lessen your exam anxiety by setting up a study program and following it. 

Use Acronyms and Mnemonic Devices

When studying for a real estate exam, acronyms and mnemonics can be helpful study aids. Here are some tips for using them effectively:

Identify key terms 

The first step is to identify the key terms and ideas you need to memorize for the exam.

After you have determined the key terms, create an acronym using the first letter of each term. For instance, you could coin the acronym "CARP" (Contract, Agreement, Recording, Payment) to help you remember the steps involved in a real estate transaction. 

Employ a mnemonic device

Mnemonics are tricks for remembering things by associating them with something else. For instance, you can use the abbreviation "TIC" (Tenancy in Common) and the phrase "Tic-tac-toe, three in a row" to help you recall the various forms of ownership.

Practice

To improve your memory, you should periodically practice using acronyms and mnemonics. 

Join a Study Group

Study groups are a great way to learn from others and build accountability. Here are some tips to help you make the most of your study group experience:

Find a group of people who are studying for the same exam and have similar interests to you. You can do this by asking your colleagues, friends, family, or neighbors.

To ensure everyone is aware of their expectations, clearly outline your goals, share them with the group, and request that everyone else do the same.

Set up regular meeting times for your study group and resolve to work as a team.

Use the study group as a forum for debate, questions, insights, and intellectual challenges to deepen your understanding. 

Get Guided Help

One of the best and simplest ways to prepare for your real estate licensing exam is to receive assistance from a real estate school. Our exam prep comes with practice exam questions, vocabulary flashcards, an ebook study guide and more.

One tip we tell our students is if you can pass the practice exams at least 5 times with an 80% a few days before the exam, you’re ready to take the test. That’s because our exam prep gives you similar questions to what you’ll see on the New Jersey real estate exam, down to how they are formatted. Using our program will make you feel familiar, comfortable, and, most of all, confident when taking the exam.

Final Thoughts on the Real Estate Exam in New Jersey

The exam will be a challenge and the amount of preparation you make is the only factor that will determine how easy it will be for you. 

Beyond simply studying, you want to ensure that you’re studying smart and maximizing study time as well. If you follow our advice above, you will improve your chances of passing the exam on your first attempt.