Ny real estate Exam Questions and
Answers Graded A+
"real estate broker" - Correct answer-any
person, firm, limited liability company or corporation, who, for another
and for a fee, commission or other valuable consideration, lists for sale,
sells, at auction or otherwise, exchanges, buys or rents, or offers or
attempts to negotiate a sale, at auction or otherwise, exchange, purchase
or rental of an estate or interest in real estate, or collects or offers or
attempts to collect rent for the use of real estate, or negotiates or offers
or attempts to negotiate, a loan secured or to be secured by a mortgage,
other than a residential mortgage loan;
"real estate broker" shall also
include any person, partnership, association or corporation employed by
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,or on behalf of the owner or owners of lots or other parcels of real
estate, at a stated salary, or upon a commission, or upon a salary and
commission
"Associate real estate broker" - Correct answer-means a licensed real estate broker
who shall by choice elect to work under the name and supervision of
another individual broker or another broker who is licensed under a
partnership, trade name, limited liability company or corporation
"Real estate salesperson" - Correct answer-means a person associated with a
licensed real estate broker to list for sale, sell or offer for sale, at auction
or otherwise, to buy or offer to buy or to negotiate the purchase or sale
or exchange of real estate, or to negotiate a loan on real estate other than
a mortgage loan, or to lease or
rent or offer to lease, rent or place for rent any real estate, or collects or
offers or attempts to collect rent for the use of real estate for or in behalf
of such real estate broker
"Tenant relocator" - Correct answer-means any person, firm, corporation,
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,partnership, limited liability company or any legal entity whatsoever,
which, for another and for a fee, commission or other valuable
consideration, supervises, organizes, arranges, coordinates, handles or is
otherwise in charge of or responsible for the relocation of commercial
or residential tenants from buildings or structures that are to be
demolished, rehabilitated, remodeled, or otherwise structurally altered.
License required for real estate brokers
and salespersons - Correct answer-broker- 20 years of age or over, a citizen of the
United States or an alien
lawfully admitted for permanent residence in the United States.
salesperson - age of 18 years.
No person shall
be entitled to a license as a real estate broker or real estate salesperson
under this article who has been convicted in this state or elsewhere of a
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, felony, of a sex offense
listing agreement/ listing contract - Correct answer-The contract stipulates a
number of terms and agreements between the broker and the sellers, including the
price for which the property will be offered and the length of the listing period.
seller vs buyer loyalty - Correct answer-When the licensee works for the seller, he
or she must remember to impart all important information to the seller regarding
the potential buyer's qualifications and the quality of the offer being presented.
When the licensee has a buyer brokerage agreement with a purchaser, he or she
must represent the best interests of the buyer rather than the seller.
NEW YORK DEPARTMENT OF STATE - Correct answer-The DOS is
responsible for the licensure, registration and/or regulation of a number of
occupations, including real estate brokers and salespersons, apartment information
vendors, apartment sharing agents, real estate appraisers and home inspectors.
The mission of the DOS is threefold:
To protect the health, safety and welfare of consumers.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 4
Answers Graded A+
"real estate broker" - Correct answer-any
person, firm, limited liability company or corporation, who, for another
and for a fee, commission or other valuable consideration, lists for sale,
sells, at auction or otherwise, exchanges, buys or rents, or offers or
attempts to negotiate a sale, at auction or otherwise, exchange, purchase
or rental of an estate or interest in real estate, or collects or offers or
attempts to collect rent for the use of real estate, or negotiates or offers
or attempts to negotiate, a loan secured or to be secured by a mortgage,
other than a residential mortgage loan;
"real estate broker" shall also
include any person, partnership, association or corporation employed by
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,or on behalf of the owner or owners of lots or other parcels of real
estate, at a stated salary, or upon a commission, or upon a salary and
commission
"Associate real estate broker" - Correct answer-means a licensed real estate broker
who shall by choice elect to work under the name and supervision of
another individual broker or another broker who is licensed under a
partnership, trade name, limited liability company or corporation
"Real estate salesperson" - Correct answer-means a person associated with a
licensed real estate broker to list for sale, sell or offer for sale, at auction
or otherwise, to buy or offer to buy or to negotiate the purchase or sale
or exchange of real estate, or to negotiate a loan on real estate other than
a mortgage loan, or to lease or
rent or offer to lease, rent or place for rent any real estate, or collects or
offers or attempts to collect rent for the use of real estate for or in behalf
of such real estate broker
"Tenant relocator" - Correct answer-means any person, firm, corporation,
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
,partnership, limited liability company or any legal entity whatsoever,
which, for another and for a fee, commission or other valuable
consideration, supervises, organizes, arranges, coordinates, handles or is
otherwise in charge of or responsible for the relocation of commercial
or residential tenants from buildings or structures that are to be
demolished, rehabilitated, remodeled, or otherwise structurally altered.
License required for real estate brokers
and salespersons - Correct answer-broker- 20 years of age or over, a citizen of the
United States or an alien
lawfully admitted for permanent residence in the United States.
salesperson - age of 18 years.
No person shall
be entitled to a license as a real estate broker or real estate salesperson
under this article who has been convicted in this state or elsewhere of a
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
, felony, of a sex offense
listing agreement/ listing contract - Correct answer-The contract stipulates a
number of terms and agreements between the broker and the sellers, including the
price for which the property will be offered and the length of the listing period.
seller vs buyer loyalty - Correct answer-When the licensee works for the seller, he
or she must remember to impart all important information to the seller regarding
the potential buyer's qualifications and the quality of the offer being presented.
When the licensee has a buyer brokerage agreement with a purchaser, he or she
must represent the best interests of the buyer rather than the seller.
NEW YORK DEPARTMENT OF STATE - Correct answer-The DOS is
responsible for the licensure, registration and/or regulation of a number of
occupations, including real estate brokers and salespersons, apartment information
vendors, apartment sharing agents, real estate appraisers and home inspectors.
The mission of the DOS is threefold:
To protect the health, safety and welfare of consumers.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 4
