COLIBRI REAL ESTATE UPDATED EXAMS SCRIPT
QUESTIONS AND ANSWERS SURE A+
✔✔When a licensee terminates his or her association with a firm, which statement is
true?
The licensee may take his or her listings to the new firm.
The licensee must turn over any listings provided by the broker, but can take those
listings he or she acquired.
The licensee must turn over any and all listing information he or she obtained during the
association.
The new sponsoring broker can take over any listings acquired by the newly-employed
licensee. - ✔✔The licensee must turn over any and all listing information he or she
obtained during the association.
✔✔Other professions that deal with real estate but require other types of licenses other
than a real estate broker or salesperson license include all of the following except?
Apartment-Sharing Agent
Appraiser
Attorney
Mortgage Banker - ✔✔Attorney
✔✔The fee for changing a broker's name or status is ______, except if the change is
made on the renewal application.
, $185
$100
$200
$10 - ✔✔$185
✔✔If a broker changes his or her business address,
The broker must pay a $10 change of address filing fee to the DOS for each licensee
affiliated with the broker.
The broker must apply for new licenses for each affiliated broker under the new
address.
The broker must not cross out the old address on his or her broker license.
The broker is not required to notify the DOS. - ✔✔The broker must pay a $10 change of
address filing fee to the DOS for each licensee affiliated with the broker.
✔✔A net listing is a contract in which the broker receives as commission all monies
over and above a minimum sales price agreed upon by the broker and the seller. This
type of listing is___________in New York.
illegal
frowned-upon
mandatory
implied - ✔✔illegal
✔✔A licensed _______________ must display his or her license conspicuously in the
principal place of business at all times.
salesperson
broker
affiliate broker
associate broker - ✔✔broker
✔✔A broker must keep records of transactions on file for how long?
One year
Two years
Three years
Until the Department of State audits the records - ✔✔Three years
✔✔Why must the broker sign a salesperson's license renewal application?
To confirm the salesperson holds a valid license
To waive the salesperson's continuing education requirements
To confirm the salesperson is sponsored by that broker
The broker does not need to sign the application. - ✔✔To confirm the salesperson is
sponsored by that broker
✔✔Failure to notify the Department of State of a change of business address is grounds
for which of the following?
Censure
QUESTIONS AND ANSWERS SURE A+
✔✔When a licensee terminates his or her association with a firm, which statement is
true?
The licensee may take his or her listings to the new firm.
The licensee must turn over any listings provided by the broker, but can take those
listings he or she acquired.
The licensee must turn over any and all listing information he or she obtained during the
association.
The new sponsoring broker can take over any listings acquired by the newly-employed
licensee. - ✔✔The licensee must turn over any and all listing information he or she
obtained during the association.
✔✔Other professions that deal with real estate but require other types of licenses other
than a real estate broker or salesperson license include all of the following except?
Apartment-Sharing Agent
Appraiser
Attorney
Mortgage Banker - ✔✔Attorney
✔✔The fee for changing a broker's name or status is ______, except if the change is
made on the renewal application.
, $185
$100
$200
$10 - ✔✔$185
✔✔If a broker changes his or her business address,
The broker must pay a $10 change of address filing fee to the DOS for each licensee
affiliated with the broker.
The broker must apply for new licenses for each affiliated broker under the new
address.
The broker must not cross out the old address on his or her broker license.
The broker is not required to notify the DOS. - ✔✔The broker must pay a $10 change of
address filing fee to the DOS for each licensee affiliated with the broker.
✔✔A net listing is a contract in which the broker receives as commission all monies
over and above a minimum sales price agreed upon by the broker and the seller. This
type of listing is___________in New York.
illegal
frowned-upon
mandatory
implied - ✔✔illegal
✔✔A licensed _______________ must display his or her license conspicuously in the
principal place of business at all times.
salesperson
broker
affiliate broker
associate broker - ✔✔broker
✔✔A broker must keep records of transactions on file for how long?
One year
Two years
Three years
Until the Department of State audits the records - ✔✔Three years
✔✔Why must the broker sign a salesperson's license renewal application?
To confirm the salesperson holds a valid license
To waive the salesperson's continuing education requirements
To confirm the salesperson is sponsored by that broker
The broker does not need to sign the application. - ✔✔To confirm the salesperson is
sponsored by that broker
✔✔Failure to notify the Department of State of a change of business address is grounds
for which of the following?
Censure
