NY Real Estate Exam (TESTING REAL EXAM
QUESTIONS) AND VERIFIED ANSWERS |A+
GRADED |100% CORRECT!!
Save
Practice questions for this set
Learn 1 /7 Study with Learn
What lien might a contractor put on your property if you fail to pay him for
work that was done?
Choose an answer
1 Mechanic's Lien 2 Mortgage Lien
3 Artisan's Lien 4 Judgement Lien
Don't know?
Terms in this set (171)
,What agency issues RE licenses? New York State Department of State, Division of
Licensing
At what age can you become a real 18
estate sales person?
Do you need experience in the No
field to become a salesperson?
What is the minimum age to 20
become a real estate broker?
Do you need experience in the Yes, 3500 points (35hrs weekly for 100 weeks)
field to become a broker?
If your license is revoked, how long 1 year
do you have to wait to re-apply for
it?
As a licensed salesperson, you can Sponsoring Broker
receive compensation from?
As a real estate licensee, you will Independent Contractor
more often than not be considered
what type of contractor?
You will receive a ____ from your 1099 from your broker, C on your tax return
broker, and will file a ___ on your tax
return to detail your earnings vs.
your expenses.
Attorneys admitted to the bar in True
NYS are exempt from the licensure
law, unless they take on
salespeople?
, Combining clients funds with Commingling
personal funds is called?
Commingling is a violation of what Accountability
fiduciary obligation?
Which document describes the Agency Disclosure Form
agency(who he or she represents)
of the salesperson?
When should the Agency disclosure First Substantive Contact
form be submitted?
What is First Substantive Contact? A customer has inquired about a property
What would you call a situation Undisclosed Dual Agency
where I represent the seller as my
client, but then work in the best
interest of the buyer?
What concern does the Dual Agency
Department of State have when a
real estate licensee also embarks
upon the practice of writing
mortgage applications as a
mortgage representative?
You are hired to sell my house, you Principal
are my broker, and I am your client
or ____?
What is the name of the deed which Full Covenant and Warranty Deed
gives the most legal promises
(covenants and warranties) to the
buyer?
QUESTIONS) AND VERIFIED ANSWERS |A+
GRADED |100% CORRECT!!
Save
Practice questions for this set
Learn 1 /7 Study with Learn
What lien might a contractor put on your property if you fail to pay him for
work that was done?
Choose an answer
1 Mechanic's Lien 2 Mortgage Lien
3 Artisan's Lien 4 Judgement Lien
Don't know?
Terms in this set (171)
,What agency issues RE licenses? New York State Department of State, Division of
Licensing
At what age can you become a real 18
estate sales person?
Do you need experience in the No
field to become a salesperson?
What is the minimum age to 20
become a real estate broker?
Do you need experience in the Yes, 3500 points (35hrs weekly for 100 weeks)
field to become a broker?
If your license is revoked, how long 1 year
do you have to wait to re-apply for
it?
As a licensed salesperson, you can Sponsoring Broker
receive compensation from?
As a real estate licensee, you will Independent Contractor
more often than not be considered
what type of contractor?
You will receive a ____ from your 1099 from your broker, C on your tax return
broker, and will file a ___ on your tax
return to detail your earnings vs.
your expenses.
Attorneys admitted to the bar in True
NYS are exempt from the licensure
law, unless they take on
salespeople?
, Combining clients funds with Commingling
personal funds is called?
Commingling is a violation of what Accountability
fiduciary obligation?
Which document describes the Agency Disclosure Form
agency(who he or she represents)
of the salesperson?
When should the Agency disclosure First Substantive Contact
form be submitted?
What is First Substantive Contact? A customer has inquired about a property
What would you call a situation Undisclosed Dual Agency
where I represent the seller as my
client, but then work in the best
interest of the buyer?
What concern does the Dual Agency
Department of State have when a
real estate licensee also embarks
upon the practice of writing
mortgage applications as a
mortgage representative?
You are hired to sell my house, you Principal
are my broker, and I am your client
or ____?
What is the name of the deed which Full Covenant and Warranty Deed
gives the most legal promises
(covenants and warranties) to the
buyer?
