NY REAL ESTATE EXAM COMPREHENSIVE
STUDY GUIDE 2026 VERIFIED ANSWERS
◉ How long is renewal cycle for licenses Answer: 2 years, 22.5 hours
of approved continuing education necessary
◉ Fixed place of business must be maintained by: Answer: broker,
including a permanent sign that identifies name of broker
◉ Fixed place of business must be maintained by: Answer: broker,
including a permanent sign that identifies name of broker
◉ Fixed place of business must be maintained by: Answer: broker,
including a permanent sign that identifies name of broker
◉ Advertisements must include: Answer: business name of broker
and phone number
◉ Advertisements must include: Answer: business name of broker
and phone number
◉ Advertisements must include: Answer: business name of broker
and phone number
,◉ Blind ads: Answer: ads that don't include broker name, illegal in
NYC
◉ Blind ads: Answer: ads that don't include broker name, illegal in
NYC
◉ Blind ads: Answer: ads that don't include broker name, illegal in
NYC
◉ Actual authority Answer: power given to agent by principal
◉ Actual authority Answer: power given to agent by principal
◉ Actual authority Answer: power given to agent by principal
◉ Express authority Answer: power for specific outcome
communication by principal to agent
◉ Express authority Answer: power for specific outcome
communication by principal to agent
,◉ Express authority Answer: power for specific outcome
communication by principal to agent
◉ Implied authority Answer: do everything necessary to carry out
express orders
◉ Implied authority Answer: do everything necessary to carry out
express orders
◉ Implied authority Answer: do everything necessary to carry out
express orders
◉ DOS penalties for practicing without license Answer: Refusal to
issue license, reprimand, fine up to $1000, suspension and
revocation of license
Misdemeanors punishable by imprisonment up to 1 year
◉ DOS penalties for practicing without license Answer: Refusal to
issue license, reprimand, fine up to $1000, suspension and
revocation of license
Misdemeanors punishable by imprisonment up to 1 year
, ◉ DOS penalties for practicing without license Answer: Refusal to
issue license, reprimand, fine up to $1000, suspension and
revocation of license
Misdemeanors punishable by imprisonment up to 1 year
◉ Client Answer: One whom broker has entered into a contract with
to represent
◉ Client Answer: One whom broker has entered into a contract with
to represent
◉ Client Answer: One whom broker has entered into a contract with
to represent
◉ General agent Answer: authorized to represent principal in broad
range of matters, broker gives general authority
◉ General agent Answer: authorized to represent principal in broad
range of matters, broker gives general authority
◉ General agent Answer: authorized to represent principal in broad
range of matters, broker gives general authority
STUDY GUIDE 2026 VERIFIED ANSWERS
◉ How long is renewal cycle for licenses Answer: 2 years, 22.5 hours
of approved continuing education necessary
◉ Fixed place of business must be maintained by: Answer: broker,
including a permanent sign that identifies name of broker
◉ Fixed place of business must be maintained by: Answer: broker,
including a permanent sign that identifies name of broker
◉ Fixed place of business must be maintained by: Answer: broker,
including a permanent sign that identifies name of broker
◉ Advertisements must include: Answer: business name of broker
and phone number
◉ Advertisements must include: Answer: business name of broker
and phone number
◉ Advertisements must include: Answer: business name of broker
and phone number
,◉ Blind ads: Answer: ads that don't include broker name, illegal in
NYC
◉ Blind ads: Answer: ads that don't include broker name, illegal in
NYC
◉ Blind ads: Answer: ads that don't include broker name, illegal in
NYC
◉ Actual authority Answer: power given to agent by principal
◉ Actual authority Answer: power given to agent by principal
◉ Actual authority Answer: power given to agent by principal
◉ Express authority Answer: power for specific outcome
communication by principal to agent
◉ Express authority Answer: power for specific outcome
communication by principal to agent
,◉ Express authority Answer: power for specific outcome
communication by principal to agent
◉ Implied authority Answer: do everything necessary to carry out
express orders
◉ Implied authority Answer: do everything necessary to carry out
express orders
◉ Implied authority Answer: do everything necessary to carry out
express orders
◉ DOS penalties for practicing without license Answer: Refusal to
issue license, reprimand, fine up to $1000, suspension and
revocation of license
Misdemeanors punishable by imprisonment up to 1 year
◉ DOS penalties for practicing without license Answer: Refusal to
issue license, reprimand, fine up to $1000, suspension and
revocation of license
Misdemeanors punishable by imprisonment up to 1 year
, ◉ DOS penalties for practicing without license Answer: Refusal to
issue license, reprimand, fine up to $1000, suspension and
revocation of license
Misdemeanors punishable by imprisonment up to 1 year
◉ Client Answer: One whom broker has entered into a contract with
to represent
◉ Client Answer: One whom broker has entered into a contract with
to represent
◉ Client Answer: One whom broker has entered into a contract with
to represent
◉ General agent Answer: authorized to represent principal in broad
range of matters, broker gives general authority
◉ General agent Answer: authorized to represent principal in broad
range of matters, broker gives general authority
◉ General agent Answer: authorized to represent principal in broad
range of matters, broker gives general authority
