NEW YORK REAL ESTATE
SALESPERSON LICENSE EXAM |
ULTIMATE EXAM BANK WITH ACTUAL
QUESTIONS AND VERIFIED ANSWERS
In New York, which of the following is required to
obtain a real estate salesperson license?
A. Being at least 18 years old
B. Completing 75 hours of approved pre-licensing
education
C. Having a college degree
D. Owning real estate property
Correct Answer: A,B
Rationale: New York law requires applicants to be at
least 18 and complete 75 hours of approved pre-
licensing education. College degrees or property
ownership are not required.
A licensed real estate salesperson in New York must
work:
A. Independently without supervision
B. Under a licensed real estate broker
,C. With a mortgage lender
D. Only in residential properties
Correct Answer: B
Rationale: In New York, a salesperson licensee must
operate under the supervision of a licensed real estate
broker. They cannot work independently.
Which type of agency relationship is recognized under
New York real estate law?
A. Seller’s agent
B. Buyer’s agent
C. Dual agent
D. Transaction broker
Correct Answer: A,B,C
Rationale: New York recognizes seller’s agents,
buyer’s agents, and dual agents. Transaction broker
is not a recognized agency relationship in New York.
A real estate salesperson’s license in New York is
valid for:
A. 1 year
B. 2 years
C. 3 years
,D. 5 years
Correct Answer: B
Rationale: In New York, real estate salesperson
licenses expire every two years, after which renewal
is required.
Which statement regarding escrow accounts in New
York is correct?
A. Brokers must maintain escrow accounts for client
funds
B. Salespersons can deposit client funds into personal
accounts
C. Escrow funds can be used for broker’s office
expenses
D. Escrow accounts are optional
Correct Answer: A
Rationale: Brokers are required to maintain separate
escrow accounts for client funds. Salespersons may
not use personal accounts or broker funds for client
money.
A broker in New York may share commission with:
A. Only licensed salespersons under their supervision
, B. Friends who are not licensed
C. Licensed brokers in another state
D. Clients directly
Correct Answer: A,C
Rationale: New York brokers may share commissions
with their own salespersons or with licensed brokers
in other states. Sharing with unlicensed individuals or
clients is illegal.
Which is a protected class under New York State
Human Rights Law?
A. Race
B. Age
C. Sexual orientation
D. Employment history
Correct Answer: A,B,C
Rationale: Race, age, and sexual orientation are
protected classes. Employment history is not covered
under NY housing discrimination laws.
In New York, a real estate advertisement must:
A. Be truthful and not misleading
B. Include licensee’s name or broker’s name
SALESPERSON LICENSE EXAM |
ULTIMATE EXAM BANK WITH ACTUAL
QUESTIONS AND VERIFIED ANSWERS
In New York, which of the following is required to
obtain a real estate salesperson license?
A. Being at least 18 years old
B. Completing 75 hours of approved pre-licensing
education
C. Having a college degree
D. Owning real estate property
Correct Answer: A,B
Rationale: New York law requires applicants to be at
least 18 and complete 75 hours of approved pre-
licensing education. College degrees or property
ownership are not required.
A licensed real estate salesperson in New York must
work:
A. Independently without supervision
B. Under a licensed real estate broker
,C. With a mortgage lender
D. Only in residential properties
Correct Answer: B
Rationale: In New York, a salesperson licensee must
operate under the supervision of a licensed real estate
broker. They cannot work independently.
Which type of agency relationship is recognized under
New York real estate law?
A. Seller’s agent
B. Buyer’s agent
C. Dual agent
D. Transaction broker
Correct Answer: A,B,C
Rationale: New York recognizes seller’s agents,
buyer’s agents, and dual agents. Transaction broker
is not a recognized agency relationship in New York.
A real estate salesperson’s license in New York is
valid for:
A. 1 year
B. 2 years
C. 3 years
,D. 5 years
Correct Answer: B
Rationale: In New York, real estate salesperson
licenses expire every two years, after which renewal
is required.
Which statement regarding escrow accounts in New
York is correct?
A. Brokers must maintain escrow accounts for client
funds
B. Salespersons can deposit client funds into personal
accounts
C. Escrow funds can be used for broker’s office
expenses
D. Escrow accounts are optional
Correct Answer: A
Rationale: Brokers are required to maintain separate
escrow accounts for client funds. Salespersons may
not use personal accounts or broker funds for client
money.
A broker in New York may share commission with:
A. Only licensed salespersons under their supervision
, B. Friends who are not licensed
C. Licensed brokers in another state
D. Clients directly
Correct Answer: A,C
Rationale: New York brokers may share commissions
with their own salespersons or with licensed brokers
in other states. Sharing with unlicensed individuals or
clients is illegal.
Which is a protected class under New York State
Human Rights Law?
A. Race
B. Age
C. Sexual orientation
D. Employment history
Correct Answer: A,B,C
Rationale: Race, age, and sexual orientation are
protected classes. Employment history is not covered
under NY housing discrimination laws.
In New York, a real estate advertisement must:
A. Be truthful and not misleading
B. Include licensee’s name or broker’s name
