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NY REAL ESTATE EXAM TEST BANK LATEST 2026-2027 ACTUAL
EXAM WITH COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (100% VERIFIED ANSWERS) |ALREADY GRADED A+|
||PROFESSOR VERIFIED|| ||BRANDNEW!!!||
A licensed salesperson or broker associate acting as an
independent contractor must:
a. be paid based upon sales and output
b. execute a written independent contractor agreement yearly with
the broker
c. receive half of her health care premium paid by the broker
d. both a and b - ANSWER-D: Compensation is paid only for
output. Law also requires a written agreement, executed by both
parties
A salesperson sells another firm's listing of a commercial building
for $462,500. The 7 percent
commission is split 50/50 between the two companies. The
salesperson received 60 percent
of her office's share. How much does she receive?
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a. $1,619.75
b. $3,237.50
c. $9,712.50
d. $10,850.00 - ANSWER-C: $462500 x 7%=$32375.
divided by 2 =$16187.50x60%
agent=$9712.50
A broker may be entitled to a commission in the event that the
sale does not close if the problem was caused by the
a. Seller.
b. Buyer.
c. Bank.
d. Title Company. - ANSWER-A:
The commission is usually considered earned when a broker
brings a ready, willing, and able buyer to the seller, or the
seller should accept an offer from the buyer.
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Big Apple Realty is concerned that its Commission on a sale
will not be paid.
Big Apple Realty may
a. file a lis pendens,
b. Request a de minimis gift.
c. File an affidavit of entitlement.
d. File a mechanic's lien. - ANSWER-C:
If a broker feels the commission will not be paid, they must
file an affidavit of entitlement for completed brokerage
services.
-A real estate salesperson's compensation is set by
a. The local realty association.
b. The Department of State, Division of Licensing Services.
c. Agreement between broker and salesperson.
d. The cooperating broker in a transaction. - ANSWER-C:
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The fee or rate of commission paid to a real estate broker is
strictly negotiable between the broker and the seller or buyer.
The Duncan and Hill decision cautioned real estate licensees
against
a. Misrepresentation.
b. Consumer fraud.
c. The unauthorized practice of law.
d. Undisclosed dual agency. - ANSWER-C:
In Duncan & Hill, the court upheld the Department of State's
determination that a real estate broker who was not a
licensed attorney demonstrated untrust worthiness and
incompetence in violation of Real Property Law sect;441-c,
finding that, when he prepared documents that included
detailed mortgage terms he had devised, he engaged in the
unauthorized practice of law
When a buyer/client wants to see property listed by his or her
agent's company, the possible conflict of interest can be solved by
the use of
NY REAL ESTATE EXAM TEST BANK LATEST 2026-2027 ACTUAL
EXAM WITH COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (100% VERIFIED ANSWERS) |ALREADY GRADED A+|
||PROFESSOR VERIFIED|| ||BRANDNEW!!!||
A licensed salesperson or broker associate acting as an
independent contractor must:
a. be paid based upon sales and output
b. execute a written independent contractor agreement yearly with
the broker
c. receive half of her health care premium paid by the broker
d. both a and b - ANSWER-D: Compensation is paid only for
output. Law also requires a written agreement, executed by both
parties
A salesperson sells another firm's listing of a commercial building
for $462,500. The 7 percent
commission is split 50/50 between the two companies. The
salesperson received 60 percent
of her office's share. How much does she receive?
,2|Page
a. $1,619.75
b. $3,237.50
c. $9,712.50
d. $10,850.00 - ANSWER-C: $462500 x 7%=$32375.
divided by 2 =$16187.50x60%
agent=$9712.50
A broker may be entitled to a commission in the event that the
sale does not close if the problem was caused by the
a. Seller.
b. Buyer.
c. Bank.
d. Title Company. - ANSWER-A:
The commission is usually considered earned when a broker
brings a ready, willing, and able buyer to the seller, or the
seller should accept an offer from the buyer.
,3|Page
Big Apple Realty is concerned that its Commission on a sale
will not be paid.
Big Apple Realty may
a. file a lis pendens,
b. Request a de minimis gift.
c. File an affidavit of entitlement.
d. File a mechanic's lien. - ANSWER-C:
If a broker feels the commission will not be paid, they must
file an affidavit of entitlement for completed brokerage
services.
-A real estate salesperson's compensation is set by
a. The local realty association.
b. The Department of State, Division of Licensing Services.
c. Agreement between broker and salesperson.
d. The cooperating broker in a transaction. - ANSWER-C:
, 4|Page
The fee or rate of commission paid to a real estate broker is
strictly negotiable between the broker and the seller or buyer.
The Duncan and Hill decision cautioned real estate licensees
against
a. Misrepresentation.
b. Consumer fraud.
c. The unauthorized practice of law.
d. Undisclosed dual agency. - ANSWER-C:
In Duncan & Hill, the court upheld the Department of State's
determination that a real estate broker who was not a
licensed attorney demonstrated untrust worthiness and
incompetence in violation of Real Property Law sect;441-c,
finding that, when he prepared documents that included
detailed mortgage terms he had devised, he engaged in the
unauthorized practice of law
When a buyer/client wants to see property listed by his or her
agent's company, the possible conflict of interest can be solved by
the use of
