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Exam New-Jersey-Real-Estate-Salesperson Topic 1 Question 100 Discussion

Actual exam question for Real Estate's New-Jersey-Real-Estate-Salesperson exam
Question #: 100
Topic #: 1
Which of the following can hold escrow accounts?

Suggested Answer: C Vote an answer

Under New Jersey law:
Salespersons may NOT hold escrow accounts.
Only brokers of record, attorneys, and financial institutions (banks) may lawfully maintain escrow accounts.
The Real Estate Commission itself does not hold escrow accounts.
Therefore, the correct grouping is banks, brokers, and attorneys.
Reference: NJREC Rules and Regulations, N.J.A.C. 11:5-5.1 (Trust Accounts); New Jersey Real Estate Salesperson Study Guide, Chapter on Escrow and Trust Funds.

by Antoine at Jan 31, 2026, 10:52 AM

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