NY REAL ESTATE EXAM PRACTICE REVIEW
2026 TESTED QUESTIONS
◉ BROKER. Answer: HIGHEST REAL ESTATE LICENSE
◉ PERSON FIRM CORPORATION AND LIMITED LIABILITY. Answer:
A REAL ESTATE BROKER CAN BE 4 THINGS. WHAT ARE THEY?
◉ PERSON WORKING UNDER A COURT ORDER PERSON PROVIDING
REAL PROPERTY MANAGEMENT FOR 1 CLIENT OWNER OF
PROPERTIES A PERSON SELLING HOMES EXCLUSIVELY FOR A
BUILDER A LAWYER PROVIDING REAL ESTATE SERVICES FOR HER
CLIENTS. Answer: WHO CAN PROVIDE REAL ESTATE SERVICES FOR
ANOTHER AND FOR A FEE BUT ARE EXEMPT FROM HAVING A
LICENSE
◉ ASSOCIATE BROKER. Answer: a broker who chooses to work as a
salesperson for another broker
◉ Real Estate Salesperson. Answer: An individual who is licensed to
negotiate and arrange real estate sales; works for a real estate
broker.
,◉ ONLY FROM A SPONSORING BROKER OR FROM ANOTHER
BROKER WITH PERMISSION FROM THE SPONSORING BROKER.
Answer: WHO CAN A REAL ESTATE LICENSEE ACCEPT
COMMISSION FROM
◉ SPONSORING BROKER. Answer: ALL MONEY MUST GO THROUGH
THE _________ _________ BEFORE THE SALESPERSON IS PAID
◉ WHEN THERE IS A MEETING OF THE MINDS. Answer: WHEN
DOES THE REAL ESTATE LICENSEE EARN A COMMISSION?
◉ RETURN THE LICENSE TO THE DOS. Answer: IF A LICENSE IS
REVOKED WHAT MUST THE LICENSEE DO?
◉ 1 YEAR. Answer: HOW LONG MUST A LICENSEE WAIT BEFORE
APPLYING TO REINSTATE A LICENSE AFTER ITS BEEN REVOKED?
◉ UPON DEMAND. Answer: WHEN MUST A LICENSEE SHOW THEIR
POCKET CARD?
◉ NO. Answer: IF I SPONSORING BROKERS LICENSE IS REVOKED
CAN THE LICENSEES REQUEST A HEARING?
,◉ Misdemeanor. Answer: A REAL ESTATE LICENSE LAW VIOLATION
CAN BE CLASSIFIED AS A
◉ brokerage. Answer: WHO CAN A LICENSEE SUE FOR SERVICES
UNPAID
◉ ACTUAL LOCATION OF THE PROPERTY. Answer: IF A PROPERTY
IS ADVERTISED IN THE VICINITY OF AN AREA WHAT MUST BE
DISCLOSED
◉ Property Condition Disclosure Statement. Answer: STATEMENT
THAT MUST BE GIVEN TO THE BUYERS BEFORE THE OFFER TO
PURCHASE IS MADE
◉ $500. Answer: WHAT IS THE COST OF THE BUYOUT FOR THE
PROPERTY CONDITION DISCLOSURE FORM
◉ THEY ARE ALL EXEMPT FROM THE PROPERTY CONDITION
DISCLOSURE STATEMENT. Answer: WHAT DO THESE PROPERTIES
HAVE IN COMMON VACANT LAND, CONDOS, CO-OPS, PROPERTIES
IN WHICH THE SELLER HAS AN INTEREST BUT DOESN'T OWN
INTEREST IN FEE ABSOLUTE
◉ NAR. Answer: 9/10 LICENSEES EMPLOYED AS ___ MEMBERS AND
INDEPENDENT CONTRACTORS
, ◉ IRS. Answer: GOVERNMENT AGENCIES THAT ENFORCE
INDEPENDENT CONTRACTORS LAW
◉ PREVENT AN AUDIT. Answer: IRS REQUIRES A WRITTEN
AGREEMENT BETWEEN THE BROKER AND LICENSEE TO
◉ SCHEDULE C. Answer: WHICH FORM DOES THE INDEPENDENT
CONTRACTOR USE FOR THE 1040 FOR TAX TIME?
◉ ERRORS AND OMISSIONS INSURANCE, PHONES AD SIGNS.
Answer: WHICH EXPENSES CAN YOUR SPONSORING BROKER PAY
LEGALLY (CHOOSE ALL THAT APPLY)
ERRORS AND OMISSIONS INSURANCE
HEALTH INSURANCE
MILEAGE
OFFICE SPACE
PHONES
AD SIGNS
BUSINESS CARDS
◉ HEALTH INSURANCE MILEAGE BUSINESS CARDS. Answer: WHAT
EXPENSES IS A LICENSEE RESPONSIBLE FOR
2026 TESTED QUESTIONS
◉ BROKER. Answer: HIGHEST REAL ESTATE LICENSE
◉ PERSON FIRM CORPORATION AND LIMITED LIABILITY. Answer:
A REAL ESTATE BROKER CAN BE 4 THINGS. WHAT ARE THEY?
◉ PERSON WORKING UNDER A COURT ORDER PERSON PROVIDING
REAL PROPERTY MANAGEMENT FOR 1 CLIENT OWNER OF
PROPERTIES A PERSON SELLING HOMES EXCLUSIVELY FOR A
BUILDER A LAWYER PROVIDING REAL ESTATE SERVICES FOR HER
CLIENTS. Answer: WHO CAN PROVIDE REAL ESTATE SERVICES FOR
ANOTHER AND FOR A FEE BUT ARE EXEMPT FROM HAVING A
LICENSE
◉ ASSOCIATE BROKER. Answer: a broker who chooses to work as a
salesperson for another broker
◉ Real Estate Salesperson. Answer: An individual who is licensed to
negotiate and arrange real estate sales; works for a real estate
broker.
,◉ ONLY FROM A SPONSORING BROKER OR FROM ANOTHER
BROKER WITH PERMISSION FROM THE SPONSORING BROKER.
Answer: WHO CAN A REAL ESTATE LICENSEE ACCEPT
COMMISSION FROM
◉ SPONSORING BROKER. Answer: ALL MONEY MUST GO THROUGH
THE _________ _________ BEFORE THE SALESPERSON IS PAID
◉ WHEN THERE IS A MEETING OF THE MINDS. Answer: WHEN
DOES THE REAL ESTATE LICENSEE EARN A COMMISSION?
◉ RETURN THE LICENSE TO THE DOS. Answer: IF A LICENSE IS
REVOKED WHAT MUST THE LICENSEE DO?
◉ 1 YEAR. Answer: HOW LONG MUST A LICENSEE WAIT BEFORE
APPLYING TO REINSTATE A LICENSE AFTER ITS BEEN REVOKED?
◉ UPON DEMAND. Answer: WHEN MUST A LICENSEE SHOW THEIR
POCKET CARD?
◉ NO. Answer: IF I SPONSORING BROKERS LICENSE IS REVOKED
CAN THE LICENSEES REQUEST A HEARING?
,◉ Misdemeanor. Answer: A REAL ESTATE LICENSE LAW VIOLATION
CAN BE CLASSIFIED AS A
◉ brokerage. Answer: WHO CAN A LICENSEE SUE FOR SERVICES
UNPAID
◉ ACTUAL LOCATION OF THE PROPERTY. Answer: IF A PROPERTY
IS ADVERTISED IN THE VICINITY OF AN AREA WHAT MUST BE
DISCLOSED
◉ Property Condition Disclosure Statement. Answer: STATEMENT
THAT MUST BE GIVEN TO THE BUYERS BEFORE THE OFFER TO
PURCHASE IS MADE
◉ $500. Answer: WHAT IS THE COST OF THE BUYOUT FOR THE
PROPERTY CONDITION DISCLOSURE FORM
◉ THEY ARE ALL EXEMPT FROM THE PROPERTY CONDITION
DISCLOSURE STATEMENT. Answer: WHAT DO THESE PROPERTIES
HAVE IN COMMON VACANT LAND, CONDOS, CO-OPS, PROPERTIES
IN WHICH THE SELLER HAS AN INTEREST BUT DOESN'T OWN
INTEREST IN FEE ABSOLUTE
◉ NAR. Answer: 9/10 LICENSEES EMPLOYED AS ___ MEMBERS AND
INDEPENDENT CONTRACTORS
, ◉ IRS. Answer: GOVERNMENT AGENCIES THAT ENFORCE
INDEPENDENT CONTRACTORS LAW
◉ PREVENT AN AUDIT. Answer: IRS REQUIRES A WRITTEN
AGREEMENT BETWEEN THE BROKER AND LICENSEE TO
◉ SCHEDULE C. Answer: WHICH FORM DOES THE INDEPENDENT
CONTRACTOR USE FOR THE 1040 FOR TAX TIME?
◉ ERRORS AND OMISSIONS INSURANCE, PHONES AD SIGNS.
Answer: WHICH EXPENSES CAN YOUR SPONSORING BROKER PAY
LEGALLY (CHOOSE ALL THAT APPLY)
ERRORS AND OMISSIONS INSURANCE
HEALTH INSURANCE
MILEAGE
OFFICE SPACE
PHONES
AD SIGNS
BUSINESS CARDS
◉ HEALTH INSURANCE MILEAGE BUSINESS CARDS. Answer: WHAT
EXPENSES IS A LICENSEE RESPONSIBLE FOR
