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(4) Advertising and promotions;
(5) Community involvement by the company, broker, sales- persons and referral agents; and
(6) Insurance including errors and omissions, etc.
xvii. Principles of agency including ethics and legal liability, disclosure requirements and case studies (six hours);
xviii. Commercial and industrial real estate including small scale, large scale, leasing, financing, site analysis, advertising, remuneration, bulk sales, U.C.C., considerations in franchise transactions, E.C.R.A., BOCA Code, construction financing and other commercial construction concerns (three hours);
xix. Property management including responsibilities and information regarding repairs and maintenance, public relations, collection of rents, government regulations, business trends, personnel, recordkeeping, advertising, etc. (three hours);
xx. Residential real estate development including require- ments of New Jersey’s Planned Real Estate Development Act including time-sharing, the Home Owner’s Warranty program and other concerns regarding single-family and condo/co-op development, conversion, marketing and financing (two hours);
xxi. Leases and landlord/tenant laws including Truth in Renting Law (four hours);
xxii. Real estate investments, syndications, REIT’s, limited partnerships and S.E.C. licensing requirements (two hours); and
xxiii. Income tax considerations and ramifications of various real estate transactions (three hours).
2. Within the 90 hour general broker prelicensure course in- struction will also be provided on the following topics for the hours indicated. These topics shall be taught in such a manner as to familiarize students with the basic elements of the listed topics and to impart to students an awareness of their scope and effect. The coverage on these topics will also inform students of the sources which can be contacted in order to obtain additional general information and/or specific data concerning the topics’ applicability to or impact upon particular locations, and to educate students on their obligations and responsibilities as licensees to ascertain and disclose such information. The topics to be taught are:
i. Radon contamination, which instruction shall also include testing techniques, remediation techniques and the New Jersey DEP confidentiality statute (one hour);
ii. Ground water contamination, which instruction shall also include testing and remediation techniques (one hour);
iii. Problems posed by a property’s proximity to solid waste disposal and/or toxic waste sites (one hour);
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iv. Ground water percolation and private sewage disposal systems, which instruction shall also include testing methods (one hour);
v. Problems posed by lands officially designed as Wetlands, Pinelands, or within any other special classifications (one hour); and
vi. New Jersey’s Coastal Areas Facilities Review Act (one hour).
3. Instructors conducting 90 hour general broker prelicensure courses shall provide general information to their students con- cerning the procedures through which students can arrange to sit for the State license examination and through which licenses are issued by the Commission, and shall give at least two spot quizzes and a comprehensive final exam on the material covered in the course (four hours).
4. In addition to classroom instruction and assigned reading from a general textbook, in the 90 hour broker course students shall also be assigned additional outside reading on various topics which shall include, but not be limited to, informational publications of the New Jersey Department of Environmental Protection on the various environmental topics covered, those sections of the New Jersey Law Against Discrimination which directly relate to the activities of real estate professionals, and other topics as directed by the New Jersey Real Estate Commission.
5. After having successfully completed the 90 hour broker course, all candidates for licensure as a broker or broker- salesperson must successfully complete a 30 hour prelicensure course on brokers’ ethics and agency law and relationships, and a second 30 hour prelicensure course on office management and related topics.
i. All such agency/ethics and office management courses shall be taught by licensed instructors at licensed schools.
ii. All such agency/ethics courses shall be taught utilizing methods which maximize the use of case studies of recent Commission decisions in disciplinary actions, demonstration models and other non-lecture techniques.
iii. A final examination of not less than one hour shall be administered in all such courses on which students must receive a passing grade in order to be deemed to have successfully com- pleted such courses.
iv. No school shall allow students to commence any 30 hour agency/ethics course or office management course at a time oth- er than the starting date of such courses.
6. The 30 hours of instruction in the ethics/agency course shall be devoted to:
i. The fiduciary duties owed by agents to their principals;