NEW YORK REAL ESTATE EXAM 2024 NEWEST EXAM LATEST VERSION A, B AND PRACTICE QUESTIONS EXAM 400 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT) /ALREADY GRADED A .

NEW YORK REAL
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T EXAM VERSION A, B AND PRACTICE QUESTIONS EXAM 400 QU
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ESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT jd jd jd jd jd jd


/ALREADY GRADED A
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1. 1. To be licensed as a real estate broker, an individual must be at least ho
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a. 16
b. 18
c. 20
d. 21: c. 20
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2. 2. Which of the following individuals is exempt from licensure?
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a. attorneys admitted to practice in the New York courts jd jd jd jd jd jd d
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b. property managers who manage property for more than one individual
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orcompanyd
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c. individuals who only list property for sale jd jd jd jd jd jd


d. auctioneers who only auction commercial real estate: a. attorneys admitte jd jd jd jd jd jd jd jd jd

dto practice in the New York courts
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3. 3. To save in paperwork, Broker Bright decides to combine her office ope
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ating account with the deposits obtained from contracts of sale. Broker Bright
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is guilty of:
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a. nothing at all jd jd

b. illegal commingling of funds jd jd jd

c. an authorized practice of law
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d. accepting money without authorization: b. illegal commingling of funds
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4. 4. A net listing is one:
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a. that requires the broker to have a fixed price for the property
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b. that is legal in New York jd jd jd jd d
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c. that most brokers would prefer jd jd jd jd


d. in which the seller specifies a certain amount of money to be received upo
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nsale of the property and all monies above: d. in which the seller specifies a certain
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jd jd jd be received upon sale of the property and all monies above
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5. 5. A broker's agent is hired by the:
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a. principal
b. seller
c. customer
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6. 6. Which of the following is TRUE regarding dual agency relationships i
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nNew York?
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a. they are permissible with timely disclosure and informed consent
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b. they are illegal under all circumstances jd jd jd jd jd

c. they are allowed only in commercial transactions
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d. they are allowed only in the sale of condominium or cooperative properties-
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: a. they are permissible with timely disclosure and informed consent
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7. 7. A listing agreement in which the property is listed with only one brok
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erwho is entitled to a commission if he sells the property but not if the o
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wnersells the property is called a(n):
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a. exclusive-right-to-sell agreement jd

b. open listing agreement jd jd

c. net listing agreement jd jd

d. exclusive agency agreement: d. exclusive agency agreement jd jd jd jd jd jd

8. 8. The first law to address antitrust violations was the:
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a. Clayton Antitrust Act jd jd

b. Real Estate Settlement Procedures Act jd jd jd jd

c. Sherman Antitrust Act jd jd

d. New York Real Property Law: c. Sherman Antitrust Act
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9. 9. Sell-It- jd

Today Brokerage requires that purchasers of its listed propertyapply for
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a mortgage with EZ Money Mortgage
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a. perfectly acceptable jd

b. an example of an illegal tie-in arrangement
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c. an example of an illegal group boycott
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d. an example of an illegal market allocation agreement: b. an example of a
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nillegal tie-in arrangement
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10. 10. An agency relationship created by an oral or written agreement b
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e-tween principal and agent is a(n)
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a. implied agency jd

b. express agency jd

c. dual agency jd

d. power of attorney: b. express agency jd jd jd jd jd


11. 11. Martin signs an exclusive-right-to-jd jd jd jd

sell listing agreement for six monthswith Broker Gerald. Within one month,
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Martin sells his house himself and refuses to pay a commission to Gerald.
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Martin's behavior is a possible: jd jd jd jd
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