New Jersey Real Estate Exam Practice Question
After terminating the employment of a licensee, the New Jersey Real Estate Commission rules require the terminating broker to:
Correct Answer: D
Rationale: After terminating a licensee's employment, the New Jersey Real Estate Commission mandates that the broker must provide a written accounting of compensation due to the licensee. This ensures transparency and clarity regarding any outstanding payments.
Option A is incorrect; while commissions must be settled, immediate payment is not a requirement. Option B is also inaccurate, as the broker does not need to release all listings obtained by the licensee upon termination. Option C is misleading; while a written termination agreement is advisable, obtaining the licensee's signature is not a regulatory requirement. Thus, option D aligns with the Commission's rules.
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