NY Real Estate Cram Exam Questions
and Answers Graded A+
WHAT AGENCY ISSUES REAL ESTATE LICENSES? - Correct answer-NYS
DOS, DIVISION OF LICENSING
AT WHAT AGE CAN YOU BECOME A REAL ESTATE SALESPERSON? -
Correct answer-18
DO YOU NEED EXPERIENCE IN THE FIELD TO BECOME A
SALESPERSON? - Correct answer-NO
WHAT IS THE MINIMUM AGE TO BECOME A REAL ESATE BROKER? -
Correct answer-20
DO YOU NEED EXPERIENCE IN THE FIELD TO BECOME A BROKER? -
Correct answer-YES; 3500 POINTS (35 HOURS IN 100 WEEKS)
IF YOUR LICENSE IS REVOKED, HOW LONG DO YOU HAVE TO WAIT TO
RE-APPLY FOR IT? - Correct answer-1 YEAR
AS A LICENSED SALESPERSON, I CAN RECEIVE COMPENSATION
FROM? - Correct answer-SPONSORING BROKER
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,AS A REAL ESTATE LICENSEE, YOU WILL MORE OFTEN THAN NOT BE
AN.. - Correct answer-INDEPENDENT CONTRACTOR
YOU WILL RECEIVE A ________ FROM YOUR BROKER, AND WILL FILE A
_____ ON YOUR TAX RETURN TO DETAIL YOUR EARNINGS VS. YOUR
EXPENSES - Correct answer-1099; C
ATTORNEYS ADMITTED TO THE BAR IN NYS ARE ________ FROM THE
LICENSURE LAW, UNLESS THEY TAKE ON SALESPEOPLE. - Correct
answer-EXEMPT
IF YOU COMBINE CLIENTS FUNDS WITH PERSONAL FUNDS, IT'S
CALLED ______________, AND YOU HAVE VIOLATED WHICH OF THE
FIDUCIARY OBLIGATIONS? - Correct answer-COMMINGLING;
ACCOUNTABILITY
WHAT IS THE VERY FIRST DOCUMENT YOU SHOULD FILL OUT WITH A
NEW CLIENT OR CUSTOMER? - Correct answer-AGENCY DISCLOSURE
FORM
AT WHAT MOMENT SHOULD YOU TAKE OUT THE AGENCY
DISCLOSURE FORM? - Correct answer-FIRST SUBSTANTIVE CONTACT
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
, REGARDING THE QUESTIONS ABOVE, WHAT DOES IT MEAN? - Correct
answer-IT MEANS THE CUSTOMER/CLIENT HAS ASKED ABOUT THE
PROPERTY
WHAT WOULD YOU CALL A SITUATION WHERE I REPRESENT THE
SELLER AS MY CILENT, BUT THEN WORK IN THE BEST INTERESTS OF
THE BUYER (MY CUSTOMER)? - Correct answer-UNDISCLOSED DUAL
AGENCY
WHAT IS THE DEPARTMENT OF STATE CONCERNED ABOUT WHEN A
REAL ESTATE LICENSEE ALSO EMBARKS UPON THE PRACTICE OF
WRITING MORTGAGE APPLICATIONS AS A MORTGAGE REP? - Correct
answer-DUAL AGENCY
I HIRE YOU TO SELL MY HOUSE; YOU ARE MY BROKER AND I AM
YOUR _________ OR __________ - Correct answer-CLIENT; PRINCIPAL
WHAT THE NAME OF THE DEED WHICH GIVES THE MOST LEGAL
PROMISES TO THE BUYER? - Correct answer-FULL COVENANT AND
WARRANTY DEED
CO-OP OWNERSHIP IS WHAT TYPE OF ESTATE? - Correct answer-LEASE
HOLD
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
and Answers Graded A+
WHAT AGENCY ISSUES REAL ESTATE LICENSES? - Correct answer-NYS
DOS, DIVISION OF LICENSING
AT WHAT AGE CAN YOU BECOME A REAL ESTATE SALESPERSON? -
Correct answer-18
DO YOU NEED EXPERIENCE IN THE FIELD TO BECOME A
SALESPERSON? - Correct answer-NO
WHAT IS THE MINIMUM AGE TO BECOME A REAL ESATE BROKER? -
Correct answer-20
DO YOU NEED EXPERIENCE IN THE FIELD TO BECOME A BROKER? -
Correct answer-YES; 3500 POINTS (35 HOURS IN 100 WEEKS)
IF YOUR LICENSE IS REVOKED, HOW LONG DO YOU HAVE TO WAIT TO
RE-APPLY FOR IT? - Correct answer-1 YEAR
AS A LICENSED SALESPERSON, I CAN RECEIVE COMPENSATION
FROM? - Correct answer-SPONSORING BROKER
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,AS A REAL ESTATE LICENSEE, YOU WILL MORE OFTEN THAN NOT BE
AN.. - Correct answer-INDEPENDENT CONTRACTOR
YOU WILL RECEIVE A ________ FROM YOUR BROKER, AND WILL FILE A
_____ ON YOUR TAX RETURN TO DETAIL YOUR EARNINGS VS. YOUR
EXPENSES - Correct answer-1099; C
ATTORNEYS ADMITTED TO THE BAR IN NYS ARE ________ FROM THE
LICENSURE LAW, UNLESS THEY TAKE ON SALESPEOPLE. - Correct
answer-EXEMPT
IF YOU COMBINE CLIENTS FUNDS WITH PERSONAL FUNDS, IT'S
CALLED ______________, AND YOU HAVE VIOLATED WHICH OF THE
FIDUCIARY OBLIGATIONS? - Correct answer-COMMINGLING;
ACCOUNTABILITY
WHAT IS THE VERY FIRST DOCUMENT YOU SHOULD FILL OUT WITH A
NEW CLIENT OR CUSTOMER? - Correct answer-AGENCY DISCLOSURE
FORM
AT WHAT MOMENT SHOULD YOU TAKE OUT THE AGENCY
DISCLOSURE FORM? - Correct answer-FIRST SUBSTANTIVE CONTACT
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
, REGARDING THE QUESTIONS ABOVE, WHAT DOES IT MEAN? - Correct
answer-IT MEANS THE CUSTOMER/CLIENT HAS ASKED ABOUT THE
PROPERTY
WHAT WOULD YOU CALL A SITUATION WHERE I REPRESENT THE
SELLER AS MY CILENT, BUT THEN WORK IN THE BEST INTERESTS OF
THE BUYER (MY CUSTOMER)? - Correct answer-UNDISCLOSED DUAL
AGENCY
WHAT IS THE DEPARTMENT OF STATE CONCERNED ABOUT WHEN A
REAL ESTATE LICENSEE ALSO EMBARKS UPON THE PRACTICE OF
WRITING MORTGAGE APPLICATIONS AS A MORTGAGE REP? - Correct
answer-DUAL AGENCY
I HIRE YOU TO SELL MY HOUSE; YOU ARE MY BROKER AND I AM
YOUR _________ OR __________ - Correct answer-CLIENT; PRINCIPAL
WHAT THE NAME OF THE DEED WHICH GIVES THE MOST LEGAL
PROMISES TO THE BUYER? - Correct answer-FULL COVENANT AND
WARRANTY DEED
CO-OP OWNERSHIP IS WHAT TYPE OF ESTATE? - Correct answer-LEASE
HOLD
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
