NYS Real Estate Exam Questions With
Answers.
Chapter ‘.1
The ‘.section ‘.of ‘.the ‘.New ‘.York ‘.Real ‘.Property ‘.Law ‘.that ‘.applies ‘.to ‘.salespersons ‘.and ‘.brokers
‘.is... ‘.- ‘.(correct ‘.answer) ‘.-Article ‘.12-A
Chapter ‘.1
Brokers ‘.who ‘.do ‘.not ‘.separate ‘.their ‘.business ‘.or ‘.personal ‘.bank ‘.accounts ‘.from ‘.their ‘.real
‘.estate ‘.deposit ‘.accounts ‘.are ‘.guilty ‘.of ‘.__________________ ‘.the ‘.funds. ‘.- ‘.(correct ‘.answer) ‘.-
commingling
Chapter ‘.1
An ‘.illegal ‘.arrangement ‘.in ‘.which ‘.a ‘.seller ‘.allows ‘.a ‘.broker ‘.to ‘.obtain ‘.a ‘.fixed ‘.amount ‘.for ‘.a
‘.property ‘.and ‘.allows ‘.the ‘.broker ‘.to ‘.keep ‘.as ‘.commission ‘.any ‘.money ‘.obtained ‘.above ‘.this
‘.amount ‘.is ‘.a(n)... ‘.- ‘.(correct ‘.answer) ‘.-net ‘.listing
Chapter ‘.1
A(n) ‘._________________ ‘.is ‘.advertising ‘.by ‘.a ‘.licensee ‘.that ‘.does ‘.not ‘.indicate ‘.the ‘.name ‘.of
‘.the ‘.broker ‘.or ‘.brokerage ‘.firm. ‘.- ‘.(correct ‘.answer) ‘.-blind ‘.ad
Chapter ‘.1
A(n) ‘.___________________ ‘.is ‘.an ‘.appeal ‘.because ‘.of ‘.a ‘.decision ‘.by ‘.an ‘.administrative
‘.agency. ‘.- ‘.(correct ‘.answer) ‘.-Article ‘.78 ‘.proceeding
Chapter ‘.1
An ‘.individual ‘.who ‘.fulfills ‘.the ‘.license ‘.requirements ‘.for ‘.a ‘.real ‘.estate ‘.broker ‘.but ‘.whose
‘.status ‘.in ‘.the ‘.firm ‘.is ‘.that ‘.of ‘.a ‘.salesperson ‘.is ‘.a(n)... ‘.- ‘.(correct ‘.answer) ‘.-associate ‘.broker
Chapter ‘.1
,The ‘.arrangement ‘.with ‘.other ‘.states ‘.that ‘.allows ‘.nonresident ‘.licensees ‘.to ‘.be ‘.licensed ‘.in
‘.New ‘.York ‘.(if ‘.their ‘.state ‘.allows ‘.New ‘.York ‘.licensure ‘.under ‘.the ‘.same ‘.terms) ‘.is... ‘.- ‘.
(correct ‘.answer) ‘.-reciprocity
Chapter ‘.1
An ‘.illegal ‘.commission ‘.or ‘.fee ‘.paid ‘.to ‘.an ‘.unlicensed ‘.individual ‘.who ‘.may ‘.have ‘.helped ‘.with
‘.a ‘.real ‘.estate ‘.transaction ‘.is ‘.a(n)... ‘.- ‘.(correct ‘.answer) ‘.-kickback
Chapter ‘.1
A ‘.licensed ‘.individual ‘.who, ‘.for ‘.a ‘.fee, ‘.makes ‘.lists ‘.of ‘.apartment ‘.space ‘.available ‘.to ‘.the
‘.public ‘.is ‘.a(n) ‘.________________________. ‘.A ‘.licensed ‘.individual ‘.who, ‘.for ‘.a ‘.fee, ‘.arranges
‘.meetings ‘.between ‘.the ‘.current ‘.owners ‘.of ‘.real ‘.property, ‘.including ‘.apartment ‘.housing, ‘.who
‘.want ‘.to ‘.share ‘.their ‘.housing ‘.with ‘.others ‘.is ‘.a(n) ‘.___________________. ‘.- ‘.(correct ‘.answer)
‘.-apartment ‘.information ‘.vendor; ‘.apartment ‘.sharing ‘.vendor
Chapter ‘.1
The ‘.document ‘.that ‘.a ‘.real ‘.estate ‘.licensee ‘.must ‘.carry ‘.when ‘.transacting ‘.real ‘.estate
‘.business ‘.is ‘.a(n)... ‘.- ‘.(correct ‘.answer) ‘.-photo ‘.ID ‘.card
Chapter ‘.1
Individuals ‘.NOT ‘.exempt ‘.from ‘.the ‘.licensure ‘.requirements ‘.would ‘.be:
a. ‘.trustees ‘.in ‘.a ‘.bankruptcy
b. ‘.attorneys
c. ‘.receivers
d. ‘.those ‘.under ‘.age ‘.21 ‘.- ‘.(correct ‘.answer) ‘.-d. ‘.those ‘.under ‘.age ‘.21
Chapter ‘.1
The ‘.New ‘.York ‘.regulatory ‘.agency ‘.that ‘.oversees ‘.real ‘.estate ‘.licensure ‘.is ‘.the:
a. ‘.Multiple ‘.Listing ‘.Service
b. ‘.New ‘.York ‘.Real ‘.Estate ‘.Board
c. ‘.Department ‘.of ‘.Law
d. ‘.Department ‘.of ‘.State ‘.- ‘.(correct ‘.answer) ‘.-d. ‘.Department ‘.of ‘.State
Chapter ‘.1
A ‘.seller ‘.pays ‘.an ‘.extra ‘.commission ‘.to ‘.go ‘.entirely ‘.to ‘.the ‘.salesperson. ‘.The ‘.salesperson:
, a. ‘.may ‘.receive ‘.the ‘.extra ‘.monies ‘.if ‘.the ‘.sponsoring ‘.broker ‘.first ‘.receives ‘.the ‘.monies ‘.and
‘.pays ‘.it ‘.to ‘.the ‘.salesperson
b. ‘.may ‘.not ‘.accept ‘.this ‘.extra ‘.commission
c. ‘.must ‘.first ‘.ask ‘.permission ‘.from ‘.the ‘.supervising ‘.broker
d. ‘.may ‘.have ‘.the ‘.seller ‘.give ‘.the ‘.commission ‘.to ‘.a ‘.friend, ‘.who ‘.will ‘.in ‘.turn ‘.give ‘.it ‘.to ‘.the
‘.salesperson ‘.- ‘.(correct ‘.answer) ‘.-a. ‘.may ‘.receive ‘.the ‘.extra ‘.monies ‘.if ‘.the ‘.sponsoring ‘.broker
‘.first ‘.receives ‘.the ‘.monies ‘.and ‘.pays ‘.it ‘.to ‘.the ‘.salesperson
Chapter ‘.1
A ‘.licensee ‘.that ‘.violates ‘.the ‘.license ‘.law ‘.is:
a. ‘.marketing ‘.one's ‘.own ‘.property ‘.through ‘.one's ‘.real ‘.estate ‘.office
b. ‘.charging ‘.varying ‘.rates ‘.of ‘.commission ‘.for ‘.several ‘.different ‘.listings
c. ‘.advising ‘.a ‘.buyer ‘.as ‘.to ‘.the ‘.validity ‘.of ‘.a ‘.deed
d. ‘.completing ‘.a ‘.comparative ‘.market ‘.analysis ‘.- ‘.(correct ‘.answer) ‘.-c. ‘.advising ‘.a ‘.buyer ‘.as ‘.to
‘.the ‘.validity ‘.of ‘.a ‘.deed
Chapter ‘.1
A ‘.person ‘.typically ‘.exempt ‘.from ‘.real ‘.estate ‘.licensure ‘.is ‘.one:
a. ‘.who ‘.lists ‘.only ‘.property ‘.for ‘.sale ‘.for ‘.others
b. ‘.acts ‘.for ‘.another ‘.as ‘.a ‘.rental ‘.agent ‘.for ‘.one ‘.property
c. ‘.who ‘.negotiates ‘.only ‘.leases ‘.for ‘.others
d. ‘.engages ‘.in ‘.the ‘.real ‘.estate ‘.brokerage ‘.business ‘.for ‘.only ‘.a ‘.few ‘.months ‘.a ‘.year ‘.- ‘.
(correct ‘.answer) ‘.-b. ‘.acts ‘.for ‘.another ‘.as ‘.a ‘.rental ‘.agent ‘.for ‘.one ‘.property
Chapter ‘.1
To ‘.induce ‘.a ‘.prospective ‘.buyer ‘.to ‘.purchase ‘.a ‘.property, ‘.a ‘.real ‘.estate ‘.broker ‘.informs ‘.the
‘.buyer ‘.that ‘.the ‘.property ‘.is ‘.four ‘.years ‘.old ‘.although ‘.the ‘.broker ‘.knows ‘.the ‘.property ‘.us
‘.eight ‘.years ‘.old. ‘.Relying ‘.on ‘.the ‘.broker's ‘.statement, ‘.the ‘.buyer ‘.contracts ‘.to ‘.purchase ‘.the
‘.property. ‘.Which ‘.of ‘.the ‘.following ‘.is ‘.FALSE? ‘.The:
a. ‘.broker ‘.is ‘.in ‘.violation ‘.of ‘.the ‘.license ‘.law
b. ‘.broker ‘.has ‘.commission ‘.an ‘.act ‘.of ‘.willful ‘.misrepresentation
c. ‘.buyer ‘.can ‘.have ‘.the ‘.contract ‘.set ‘.aside
Answers.
Chapter ‘.1
The ‘.section ‘.of ‘.the ‘.New ‘.York ‘.Real ‘.Property ‘.Law ‘.that ‘.applies ‘.to ‘.salespersons ‘.and ‘.brokers
‘.is... ‘.- ‘.(correct ‘.answer) ‘.-Article ‘.12-A
Chapter ‘.1
Brokers ‘.who ‘.do ‘.not ‘.separate ‘.their ‘.business ‘.or ‘.personal ‘.bank ‘.accounts ‘.from ‘.their ‘.real
‘.estate ‘.deposit ‘.accounts ‘.are ‘.guilty ‘.of ‘.__________________ ‘.the ‘.funds. ‘.- ‘.(correct ‘.answer) ‘.-
commingling
Chapter ‘.1
An ‘.illegal ‘.arrangement ‘.in ‘.which ‘.a ‘.seller ‘.allows ‘.a ‘.broker ‘.to ‘.obtain ‘.a ‘.fixed ‘.amount ‘.for ‘.a
‘.property ‘.and ‘.allows ‘.the ‘.broker ‘.to ‘.keep ‘.as ‘.commission ‘.any ‘.money ‘.obtained ‘.above ‘.this
‘.amount ‘.is ‘.a(n)... ‘.- ‘.(correct ‘.answer) ‘.-net ‘.listing
Chapter ‘.1
A(n) ‘._________________ ‘.is ‘.advertising ‘.by ‘.a ‘.licensee ‘.that ‘.does ‘.not ‘.indicate ‘.the ‘.name ‘.of
‘.the ‘.broker ‘.or ‘.brokerage ‘.firm. ‘.- ‘.(correct ‘.answer) ‘.-blind ‘.ad
Chapter ‘.1
A(n) ‘.___________________ ‘.is ‘.an ‘.appeal ‘.because ‘.of ‘.a ‘.decision ‘.by ‘.an ‘.administrative
‘.agency. ‘.- ‘.(correct ‘.answer) ‘.-Article ‘.78 ‘.proceeding
Chapter ‘.1
An ‘.individual ‘.who ‘.fulfills ‘.the ‘.license ‘.requirements ‘.for ‘.a ‘.real ‘.estate ‘.broker ‘.but ‘.whose
‘.status ‘.in ‘.the ‘.firm ‘.is ‘.that ‘.of ‘.a ‘.salesperson ‘.is ‘.a(n)... ‘.- ‘.(correct ‘.answer) ‘.-associate ‘.broker
Chapter ‘.1
,The ‘.arrangement ‘.with ‘.other ‘.states ‘.that ‘.allows ‘.nonresident ‘.licensees ‘.to ‘.be ‘.licensed ‘.in
‘.New ‘.York ‘.(if ‘.their ‘.state ‘.allows ‘.New ‘.York ‘.licensure ‘.under ‘.the ‘.same ‘.terms) ‘.is... ‘.- ‘.
(correct ‘.answer) ‘.-reciprocity
Chapter ‘.1
An ‘.illegal ‘.commission ‘.or ‘.fee ‘.paid ‘.to ‘.an ‘.unlicensed ‘.individual ‘.who ‘.may ‘.have ‘.helped ‘.with
‘.a ‘.real ‘.estate ‘.transaction ‘.is ‘.a(n)... ‘.- ‘.(correct ‘.answer) ‘.-kickback
Chapter ‘.1
A ‘.licensed ‘.individual ‘.who, ‘.for ‘.a ‘.fee, ‘.makes ‘.lists ‘.of ‘.apartment ‘.space ‘.available ‘.to ‘.the
‘.public ‘.is ‘.a(n) ‘.________________________. ‘.A ‘.licensed ‘.individual ‘.who, ‘.for ‘.a ‘.fee, ‘.arranges
‘.meetings ‘.between ‘.the ‘.current ‘.owners ‘.of ‘.real ‘.property, ‘.including ‘.apartment ‘.housing, ‘.who
‘.want ‘.to ‘.share ‘.their ‘.housing ‘.with ‘.others ‘.is ‘.a(n) ‘.___________________. ‘.- ‘.(correct ‘.answer)
‘.-apartment ‘.information ‘.vendor; ‘.apartment ‘.sharing ‘.vendor
Chapter ‘.1
The ‘.document ‘.that ‘.a ‘.real ‘.estate ‘.licensee ‘.must ‘.carry ‘.when ‘.transacting ‘.real ‘.estate
‘.business ‘.is ‘.a(n)... ‘.- ‘.(correct ‘.answer) ‘.-photo ‘.ID ‘.card
Chapter ‘.1
Individuals ‘.NOT ‘.exempt ‘.from ‘.the ‘.licensure ‘.requirements ‘.would ‘.be:
a. ‘.trustees ‘.in ‘.a ‘.bankruptcy
b. ‘.attorneys
c. ‘.receivers
d. ‘.those ‘.under ‘.age ‘.21 ‘.- ‘.(correct ‘.answer) ‘.-d. ‘.those ‘.under ‘.age ‘.21
Chapter ‘.1
The ‘.New ‘.York ‘.regulatory ‘.agency ‘.that ‘.oversees ‘.real ‘.estate ‘.licensure ‘.is ‘.the:
a. ‘.Multiple ‘.Listing ‘.Service
b. ‘.New ‘.York ‘.Real ‘.Estate ‘.Board
c. ‘.Department ‘.of ‘.Law
d. ‘.Department ‘.of ‘.State ‘.- ‘.(correct ‘.answer) ‘.-d. ‘.Department ‘.of ‘.State
Chapter ‘.1
A ‘.seller ‘.pays ‘.an ‘.extra ‘.commission ‘.to ‘.go ‘.entirely ‘.to ‘.the ‘.salesperson. ‘.The ‘.salesperson:
, a. ‘.may ‘.receive ‘.the ‘.extra ‘.monies ‘.if ‘.the ‘.sponsoring ‘.broker ‘.first ‘.receives ‘.the ‘.monies ‘.and
‘.pays ‘.it ‘.to ‘.the ‘.salesperson
b. ‘.may ‘.not ‘.accept ‘.this ‘.extra ‘.commission
c. ‘.must ‘.first ‘.ask ‘.permission ‘.from ‘.the ‘.supervising ‘.broker
d. ‘.may ‘.have ‘.the ‘.seller ‘.give ‘.the ‘.commission ‘.to ‘.a ‘.friend, ‘.who ‘.will ‘.in ‘.turn ‘.give ‘.it ‘.to ‘.the
‘.salesperson ‘.- ‘.(correct ‘.answer) ‘.-a. ‘.may ‘.receive ‘.the ‘.extra ‘.monies ‘.if ‘.the ‘.sponsoring ‘.broker
‘.first ‘.receives ‘.the ‘.monies ‘.and ‘.pays ‘.it ‘.to ‘.the ‘.salesperson
Chapter ‘.1
A ‘.licensee ‘.that ‘.violates ‘.the ‘.license ‘.law ‘.is:
a. ‘.marketing ‘.one's ‘.own ‘.property ‘.through ‘.one's ‘.real ‘.estate ‘.office
b. ‘.charging ‘.varying ‘.rates ‘.of ‘.commission ‘.for ‘.several ‘.different ‘.listings
c. ‘.advising ‘.a ‘.buyer ‘.as ‘.to ‘.the ‘.validity ‘.of ‘.a ‘.deed
d. ‘.completing ‘.a ‘.comparative ‘.market ‘.analysis ‘.- ‘.(correct ‘.answer) ‘.-c. ‘.advising ‘.a ‘.buyer ‘.as ‘.to
‘.the ‘.validity ‘.of ‘.a ‘.deed
Chapter ‘.1
A ‘.person ‘.typically ‘.exempt ‘.from ‘.real ‘.estate ‘.licensure ‘.is ‘.one:
a. ‘.who ‘.lists ‘.only ‘.property ‘.for ‘.sale ‘.for ‘.others
b. ‘.acts ‘.for ‘.another ‘.as ‘.a ‘.rental ‘.agent ‘.for ‘.one ‘.property
c. ‘.who ‘.negotiates ‘.only ‘.leases ‘.for ‘.others
d. ‘.engages ‘.in ‘.the ‘.real ‘.estate ‘.brokerage ‘.business ‘.for ‘.only ‘.a ‘.few ‘.months ‘.a ‘.year ‘.- ‘.
(correct ‘.answer) ‘.-b. ‘.acts ‘.for ‘.another ‘.as ‘.a ‘.rental ‘.agent ‘.for ‘.one ‘.property
Chapter ‘.1
To ‘.induce ‘.a ‘.prospective ‘.buyer ‘.to ‘.purchase ‘.a ‘.property, ‘.a ‘.real ‘.estate ‘.broker ‘.informs ‘.the
‘.buyer ‘.that ‘.the ‘.property ‘.is ‘.four ‘.years ‘.old ‘.although ‘.the ‘.broker ‘.knows ‘.the ‘.property ‘.us
‘.eight ‘.years ‘.old. ‘.Relying ‘.on ‘.the ‘.broker's ‘.statement, ‘.the ‘.buyer ‘.contracts ‘.to ‘.purchase ‘.the
‘.property. ‘.Which ‘.of ‘.the ‘.following ‘.is ‘.FALSE? ‘.The:
a. ‘.broker ‘.is ‘.in ‘.violation ‘.of ‘.the ‘.license ‘.law
b. ‘.broker ‘.has ‘.commission ‘.an ‘.act ‘.of ‘.willful ‘.misrepresentation
c. ‘.buyer ‘.can ‘.have ‘.the ‘.contract ‘.set ‘.aside
