NYS REAL ESTATE U FINAL EXAM
QUESTIONS AND ANSWERS 2026 |
FREQUENTLY TESTED QUESTIONS |
VERIFIED SOLUTIONS | 100% CORRECT
EXAM GUIDE
• This guide contains 200 verified multiple-choice questions covering all topics
tested on the NYS Real Estate licensing final exam — use it to drill weak areas,
simulate timed practice, and reinforce correct reasoning before exam day.
• Each question includes 5 clearly labeled options (A–E), a highlighted correct
answer with bold formatting, and a EXPERT RATIONALE to help you understand
the why behind every answer.
QUESTION 1
Under New York State law, a real estate salesperson license is valid for how
long?
A) 1 year
B) 3 years
C) 4 years
D) 5 years
E) 2 years
CORRECT ANSWER: E) 2 years
EXPERT RATIONALE: In New York State, a real estate salesperson license is
issued for a two-year term and must be renewed before expiration to remain
active.
QUESTION 2
A buyer's agent owes fiduciary duties to whom?
A) The seller
,B) The listing broker
C) The Multiple Listing Service
D) The state licensing board
E) The buyer
CORRECT ANSWER: E) The buyer
EXPERT RATIONALE: A buyer's agent has a fiduciary relationship with the
buyer, meaning loyalty, confidentiality, disclosure, obedience, reasonable care, and
accounting are all owed to the buyer.
QUESTION 3
Which of the following is NOT a fiduciary duty?
A) Loyalty
B) Confidentiality
C) Accountability
D) Profit maximization
E) Obedience
CORRECT ANSWER: D) Profit maximization
EXPERT RATIONALE: The six fiduciary duties are loyalty, confidentiality,
disclosure, obedience, reasonable care, and accounting. Profit maximization is not
among them.
QUESTION 4
A real estate broker in New York must keep escrow funds in:
A) A personal savings account
B) A general business checking account
,C) A separate escrow or trust account
D) A money market investment account
E) The broker's operating account
CORRECT ANSWER: C) A separate escrow or trust account
EXPERT RATIONALE: New York law requires brokers to keep client funds
completely separate from personal and business funds in a designated escrow or
trust account to prevent commingling.
QUESTION 5
What is the minimum age requirement to obtain a real estate salesperson
license in New York?
A) 21
B) 16
C) 25
D) 19
E) 18
CORRECT ANSWER: E) 18
EXPERT RATIONALE: New York State requires applicants for a real estate
salesperson license to be at least 18 years of age.
QUESTION 6
Which type of listing gives the broker the exclusive right to collect a
commission regardless of who sells the property?
A) Open listing
B) Net listing
, C) Exclusive agency listing
D) Multiple listing
E) Exclusive right-to-sell listing
CORRECT ANSWER: E) Exclusive right-to-sell listing
EXPERT RATIONALE: An exclusive right-to-sell listing guarantees the broker a
commission no matter who procures the buyer — including the seller themselves
— during the listing period.
QUESTION 7
Blockbusting is best defined as:
A) Steering minorities to specific neighborhoods
B) Refusing to make loans in certain areas
C) Inducing homeowners to sell by suggesting minority groups are moving into the
area
D) Charging higher rents to protected classes
E) Advertising that discriminates based on race
CORRECT ANSWER: C) Inducing homeowners to sell by suggesting minority
groups are moving into the area
EXPERT RATIONALE: Blockbusting is an illegal practice under the Fair Housing
Act where agents or others profit by exploiting racial fears to cause panic selling in
neighborhoods.
QUESTION 8
The New York State Human Rights Law protects against discrimination in
housing based on:
A) Income level only
QUESTIONS AND ANSWERS 2026 |
FREQUENTLY TESTED QUESTIONS |
VERIFIED SOLUTIONS | 100% CORRECT
EXAM GUIDE
• This guide contains 200 verified multiple-choice questions covering all topics
tested on the NYS Real Estate licensing final exam — use it to drill weak areas,
simulate timed practice, and reinforce correct reasoning before exam day.
• Each question includes 5 clearly labeled options (A–E), a highlighted correct
answer with bold formatting, and a EXPERT RATIONALE to help you understand
the why behind every answer.
QUESTION 1
Under New York State law, a real estate salesperson license is valid for how
long?
A) 1 year
B) 3 years
C) 4 years
D) 5 years
E) 2 years
CORRECT ANSWER: E) 2 years
EXPERT RATIONALE: In New York State, a real estate salesperson license is
issued for a two-year term and must be renewed before expiration to remain
active.
QUESTION 2
A buyer's agent owes fiduciary duties to whom?
A) The seller
,B) The listing broker
C) The Multiple Listing Service
D) The state licensing board
E) The buyer
CORRECT ANSWER: E) The buyer
EXPERT RATIONALE: A buyer's agent has a fiduciary relationship with the
buyer, meaning loyalty, confidentiality, disclosure, obedience, reasonable care, and
accounting are all owed to the buyer.
QUESTION 3
Which of the following is NOT a fiduciary duty?
A) Loyalty
B) Confidentiality
C) Accountability
D) Profit maximization
E) Obedience
CORRECT ANSWER: D) Profit maximization
EXPERT RATIONALE: The six fiduciary duties are loyalty, confidentiality,
disclosure, obedience, reasonable care, and accounting. Profit maximization is not
among them.
QUESTION 4
A real estate broker in New York must keep escrow funds in:
A) A personal savings account
B) A general business checking account
,C) A separate escrow or trust account
D) A money market investment account
E) The broker's operating account
CORRECT ANSWER: C) A separate escrow or trust account
EXPERT RATIONALE: New York law requires brokers to keep client funds
completely separate from personal and business funds in a designated escrow or
trust account to prevent commingling.
QUESTION 5
What is the minimum age requirement to obtain a real estate salesperson
license in New York?
A) 21
B) 16
C) 25
D) 19
E) 18
CORRECT ANSWER: E) 18
EXPERT RATIONALE: New York State requires applicants for a real estate
salesperson license to be at least 18 years of age.
QUESTION 6
Which type of listing gives the broker the exclusive right to collect a
commission regardless of who sells the property?
A) Open listing
B) Net listing
, C) Exclusive agency listing
D) Multiple listing
E) Exclusive right-to-sell listing
CORRECT ANSWER: E) Exclusive right-to-sell listing
EXPERT RATIONALE: An exclusive right-to-sell listing guarantees the broker a
commission no matter who procures the buyer — including the seller themselves
— during the listing period.
QUESTION 7
Blockbusting is best defined as:
A) Steering minorities to specific neighborhoods
B) Refusing to make loans in certain areas
C) Inducing homeowners to sell by suggesting minority groups are moving into the
area
D) Charging higher rents to protected classes
E) Advertising that discriminates based on race
CORRECT ANSWER: C) Inducing homeowners to sell by suggesting minority
groups are moving into the area
EXPERT RATIONALE: Blockbusting is an illegal practice under the Fair Housing
Act where agents or others profit by exploiting racial fears to cause panic selling in
neighborhoods.
QUESTION 8
The New York State Human Rights Law protects against discrimination in
housing based on:
A) Income level only
