Real Estate U Final Exam Complete Review
(2026) | 100% Verified Responses | A+
• Sponsor -✓✓A licenced real estate broker that holds the licence of a
salesperson
• "Summary of your Submission -✓✓Obtained after your register for
the New York State Salesperson exam using eAccessNY. You must
bring your "Summary of Your Submission" with you when taking the
State exam.
• Misdemeanor -✓✓crime punishable by up to one year in jail, a fine of
less than $1,000, or both
• Listing Agreement -✓✓An employment contract between principal
and agent, authorizing the agent to perform services for the principle
involving the latter's property.
• Pocket Card -✓✓A card issued by the Department of State to each
licensee which contains the photo, name and business address of the
licensee, and, in the case of a real estate salesperson, the name and
business address of the broker with whom he or she is associated and
shall certify that the person whose name appears thereon is a licensed
real estate broker or salesperson.
,• Fiduciary -✓✓A person who on behalf of or for the benefit of another
transacts business or handles money or property not the person's own;
such relationship implies great confidence and trust. OLD CAR
• Disclosure Regarding Real Estate Agency Relationships Form -✓✓A
written explanation, to be signed by a prospective buyer or seller of real
estate, explaining to the client the role that the broker plays in the
transaction. First document to be submitted to all prospective clients.
• Exclusive Agency -✓✓An agreement of employment of a broker to
the exclusion of all other
brokers; if sale is made by any other broker during term of employment,
broker holding
exclusive agency is entitled to commissions in addition to the
commissions payable to the
broker who effected the transaction
- Made between a broker and a seller
• Principal -✓✓The employer of an agent or broker, the broker or agents
client.
• price fixing -✓✓Conspiring to establish fixed fees or prices for
services or products.
• market allocation -✓✓An agreement between members of a trade to
refrain from competition in specific market areas.
, • Independant Contractor Relationship -✓✓A person that provides
services to another under terms specified in a contract or within a verbal
agreement. An independant contractor is not an employee.
The agent does not have to work in a specific location
The broker cannot control the agents work activities.
• Bundle of Rights -✓✓The premise that the ownership of real estate
consists of the ownership of various rights associated with it. These
rights include the right to use and/or occupy, the right to sell in whole or
in part, the right to lease, the right to bequeath and the right to do none
of the foregoing.
Includes the right of quite enjoyment.
• Littoral Rights -✓✓The right of a property owner whose land borders
on a body of water, such as a lake, ocean or sea, to reasonable use and
enjoyment of the shore and water the property borders on.
• Riparian Rights -✓✓The right of a property owner whose land borders
a natural water course such as a river to reasonable use and enjoyment of
the water that flows past the property.
Riperian literally means "Riverbank"
• Specific Lien -✓✓A lien that only binds to a specific asset or property.
(example mortgage)
(2026) | 100% Verified Responses | A+
• Sponsor -✓✓A licenced real estate broker that holds the licence of a
salesperson
• "Summary of your Submission -✓✓Obtained after your register for
the New York State Salesperson exam using eAccessNY. You must
bring your "Summary of Your Submission" with you when taking the
State exam.
• Misdemeanor -✓✓crime punishable by up to one year in jail, a fine of
less than $1,000, or both
• Listing Agreement -✓✓An employment contract between principal
and agent, authorizing the agent to perform services for the principle
involving the latter's property.
• Pocket Card -✓✓A card issued by the Department of State to each
licensee which contains the photo, name and business address of the
licensee, and, in the case of a real estate salesperson, the name and
business address of the broker with whom he or she is associated and
shall certify that the person whose name appears thereon is a licensed
real estate broker or salesperson.
,• Fiduciary -✓✓A person who on behalf of or for the benefit of another
transacts business or handles money or property not the person's own;
such relationship implies great confidence and trust. OLD CAR
• Disclosure Regarding Real Estate Agency Relationships Form -✓✓A
written explanation, to be signed by a prospective buyer or seller of real
estate, explaining to the client the role that the broker plays in the
transaction. First document to be submitted to all prospective clients.
• Exclusive Agency -✓✓An agreement of employment of a broker to
the exclusion of all other
brokers; if sale is made by any other broker during term of employment,
broker holding
exclusive agency is entitled to commissions in addition to the
commissions payable to the
broker who effected the transaction
- Made between a broker and a seller
• Principal -✓✓The employer of an agent or broker, the broker or agents
client.
• price fixing -✓✓Conspiring to establish fixed fees or prices for
services or products.
• market allocation -✓✓An agreement between members of a trade to
refrain from competition in specific market areas.
, • Independant Contractor Relationship -✓✓A person that provides
services to another under terms specified in a contract or within a verbal
agreement. An independant contractor is not an employee.
The agent does not have to work in a specific location
The broker cannot control the agents work activities.
• Bundle of Rights -✓✓The premise that the ownership of real estate
consists of the ownership of various rights associated with it. These
rights include the right to use and/or occupy, the right to sell in whole or
in part, the right to lease, the right to bequeath and the right to do none
of the foregoing.
Includes the right of quite enjoyment.
• Littoral Rights -✓✓The right of a property owner whose land borders
on a body of water, such as a lake, ocean or sea, to reasonable use and
enjoyment of the shore and water the property borders on.
• Riparian Rights -✓✓The right of a property owner whose land borders
a natural water course such as a river to reasonable use and enjoyment of
the water that flows past the property.
Riperian literally means "Riverbank"
• Specific Lien -✓✓A lien that only binds to a specific asset or property.
(example mortgage)
