NY REAL ESTATE EXAM PREMIUM PREP PACK
2026 FULLY SOLVED MATERIAL
◉ Which of the following statements is NOT true regarding
compensation and disclosure in New York Answer: There's no
specific state law requiring disclosure of a broker's multiple sources
of compensation, but it is highly encouraged
◉ Which of the following is TRUE about the New York State
Disclosure Form? Answer: The form covers the sale or lease of all
residential real properties
◉ In the context of a real estate transaction, which of the following
best completes this sentence: A material fact is one that: Answer:
could cause a buyer or seller of real estate to take a different course
of action or make a different decision regarding the property
purchase
◉ When it comes to the offers made on a client's property, what
should a listing broker do? Answer: Present all offers
◉ When should the New York State Disclosure Form be used?
Answer: At the first substantive contact
,◉ Which of the following is an accurate statement about the New
York State Disclosure Form? Answer: The form is not a contract and
recipient's signatures are not mandatory
◉ According to the Seller's Agent paragraph in the New York State
Disclosure Form, which party's interests are not being represented
by the seller's agent? Answer: The buyer's interests
◉ When Seth's agent assured the listing agent that Seth was
financially qualified to make an offer on the seller's property
because Seth was a trust fund baby worth millions, what mistake, if
any, did Seth's agent make? Answer: Seth's agent disclosed client
information that probably doesn't serve Seth's best interest.
◉ What is the primary motivation for the use of designated sales
agents in dual agency? Answer: To provide at least some degree of
individual representation to an in-house real estate transaction
◉ What does it represent when the recipient of the form signs the
New York State Disclosure Form? Answer: It is an acknowledgement
of receipt of the form.
◉ Which of the following is a reason a brokerage might choose to
specialize in a certain type of agency relationship? Answer: -to
market as a specialist brokerage
, -to ensure competency of the sales force
-to mitigate brokerage risk
◉ To prepare for dual agency in the case that an in-house buyer
client is brought to a transaction, what should a brokerage that
operates primarily as seller's agents do? Answer: Disclose that
possibility upfront to seller clients and, if they can, get those clients
to sign an advance informed consent to dual agency
◉ Who makes the decision as to what types, if any, of cooperative
sales will be allowed? Answer: the seller
◉ Why does the fact that a seller wants the highest sale price
possible while the buyer wants the lowest sale price possible create
a potential issue in dual agency? Answer: They are conflicting
interests of two parties in a dual agency transaction, both of whom
want their agent to be looking out for their best interests.
◉ With what can a license holder first obtain advance consent to
dual agency? Answer: with the NY State Disclosure Form
◉ Which of the following is NOT a possible consequence of
undisclosed dual agency in New York? Answer: disbarment of broker
attorney
2026 FULLY SOLVED MATERIAL
◉ Which of the following statements is NOT true regarding
compensation and disclosure in New York Answer: There's no
specific state law requiring disclosure of a broker's multiple sources
of compensation, but it is highly encouraged
◉ Which of the following is TRUE about the New York State
Disclosure Form? Answer: The form covers the sale or lease of all
residential real properties
◉ In the context of a real estate transaction, which of the following
best completes this sentence: A material fact is one that: Answer:
could cause a buyer or seller of real estate to take a different course
of action or make a different decision regarding the property
purchase
◉ When it comes to the offers made on a client's property, what
should a listing broker do? Answer: Present all offers
◉ When should the New York State Disclosure Form be used?
Answer: At the first substantive contact
,◉ Which of the following is an accurate statement about the New
York State Disclosure Form? Answer: The form is not a contract and
recipient's signatures are not mandatory
◉ According to the Seller's Agent paragraph in the New York State
Disclosure Form, which party's interests are not being represented
by the seller's agent? Answer: The buyer's interests
◉ When Seth's agent assured the listing agent that Seth was
financially qualified to make an offer on the seller's property
because Seth was a trust fund baby worth millions, what mistake, if
any, did Seth's agent make? Answer: Seth's agent disclosed client
information that probably doesn't serve Seth's best interest.
◉ What is the primary motivation for the use of designated sales
agents in dual agency? Answer: To provide at least some degree of
individual representation to an in-house real estate transaction
◉ What does it represent when the recipient of the form signs the
New York State Disclosure Form? Answer: It is an acknowledgement
of receipt of the form.
◉ Which of the following is a reason a brokerage might choose to
specialize in a certain type of agency relationship? Answer: -to
market as a specialist brokerage
, -to ensure competency of the sales force
-to mitigate brokerage risk
◉ To prepare for dual agency in the case that an in-house buyer
client is brought to a transaction, what should a brokerage that
operates primarily as seller's agents do? Answer: Disclose that
possibility upfront to seller clients and, if they can, get those clients
to sign an advance informed consent to dual agency
◉ Who makes the decision as to what types, if any, of cooperative
sales will be allowed? Answer: the seller
◉ Why does the fact that a seller wants the highest sale price
possible while the buyer wants the lowest sale price possible create
a potential issue in dual agency? Answer: They are conflicting
interests of two parties in a dual agency transaction, both of whom
want their agent to be looking out for their best interests.
◉ With what can a license holder first obtain advance consent to
dual agency? Answer: with the NY State Disclosure Form
◉ Which of the following is NOT a possible consequence of
undisclosed dual agency in New York? Answer: disbarment of broker
attorney
