1
REAL ESTATE U EXAM QUESTIONS AND
CORRECT DETAILED ANSWERS 2025 ALREADY
GRADED A+
Article 12-A of the NYS Real Property Law - CORRECT ANSWER>>- The section of
the New York Real Property Law pertaining to real estate salespersons and
brokers.
- Primary purpose is to "Protect the Public" - Requires a salesperson to be at least
18 years of age
- Requires a broker to be at least 20 years of age
Sponsor - CORRECT ANSWER>>- A licensed real estate broker that holds the
license of a salesperson.
"Summary of Your Submission" - CORRECT ANSWER>>- Obtained after you
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 - CORRECT ANSWER>>- A crime punishable by up to a year in
prison and/or a $1,000 fine.
Listing Agreement - CORRECT ANSWER>>- An employment contract between
principal and agent, authorizing the
agent to perform services for the principle involving the latter's property
Pocket Card - CORRECT ANSWER>>- 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
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and shall certify that the person whose name appears thereon is a licensed real
estate broker or
salesperson.
- Must be carried by the agent at all times when serving as a salesperson.
Fiduciary - CORRECT ANSWER>>- 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 - CORRECT ANSWER>>- Obedience
- Loyalty
- Disclosure
- Confidentiality
- Accountability
- Reasonable Care
, Obedience - CORRECT ANSWER>>- Agent must act in accordance to clients
demands/instructions.
Loyalty - CORRECT ANSWER>>- Agent must work in the best interest of the client.
Disclosure of Information - CORRECT ANSWER>>- Agent must communicate with
client/must present all offers.
Confidentiality - CORRECT ANSWER>>- All confidential information as described
by client must remain so unless given permission in writing.
Accountability - CORRECT ANSWER>>- One of the more serious fiduciary
responsibilities.
Reasonable Care - CORRECT ANSWER>>- Agent may be liable for costly mistakes.
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Disclosure Regarding Real Estate Agency Relationships Form - CORRECT
ANSWER>>- 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 - CORRECT ANSWER>>- 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 - CORRECT ANSWER>>- The employer of an agent or broker; the broker's
or agent's client.
Price Fixing - CORRECT ANSWER>>- Conspiring to establish fixed fees or prices for
services or products.
Market Allocation - CORRECT ANSWER>>- An agreement between members of a
trade conspiring to refrain from competition in specific market areas.
Independent Contractor Relationship - CORRECT ANSWER>>- A person that
provides services to another under
terms specified in a contract or within a verbal agreement. An independent
contractor is not an
employee.
- The agent does not have to work in a specific location
- The broker cannot control the agent's work activities
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Bundle of Rights - CORRECT ANSWER>>- The premise that the ownership of real
estate consists of the ownership of the various rights associated with it. These
rights include the right to use and/or copy, 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 to quiet enjoyment.
Littoral Rights - CORRECT ANSWER>>- 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 - CORRECT ANSWER>>The right of a property owner whose land
REAL ESTATE U EXAM QUESTIONS AND
CORRECT DETAILED ANSWERS 2025 ALREADY
GRADED A+
Article 12-A of the NYS Real Property Law - CORRECT ANSWER>>- The section of
the New York Real Property Law pertaining to real estate salespersons and
brokers.
- Primary purpose is to "Protect the Public" - Requires a salesperson to be at least
18 years of age
- Requires a broker to be at least 20 years of age
Sponsor - CORRECT ANSWER>>- A licensed real estate broker that holds the
license of a salesperson.
"Summary of Your Submission" - CORRECT ANSWER>>- Obtained after you
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 - CORRECT ANSWER>>- A crime punishable by up to a year in
prison and/or a $1,000 fine.
Listing Agreement - CORRECT ANSWER>>- An employment contract between
principal and agent, authorizing the
agent to perform services for the principle involving the latter's property
Pocket Card - CORRECT ANSWER>>- 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
2
and shall certify that the person whose name appears thereon is a licensed real
estate broker or
salesperson.
- Must be carried by the agent at all times when serving as a salesperson.
Fiduciary - CORRECT ANSWER>>- 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 - CORRECT ANSWER>>- Obedience
- Loyalty
- Disclosure
- Confidentiality
- Accountability
- Reasonable Care
, Obedience - CORRECT ANSWER>>- Agent must act in accordance to clients
demands/instructions.
Loyalty - CORRECT ANSWER>>- Agent must work in the best interest of the client.
Disclosure of Information - CORRECT ANSWER>>- Agent must communicate with
client/must present all offers.
Confidentiality - CORRECT ANSWER>>- All confidential information as described
by client must remain so unless given permission in writing.
Accountability - CORRECT ANSWER>>- One of the more serious fiduciary
responsibilities.
Reasonable Care - CORRECT ANSWER>>- Agent may be liable for costly mistakes.
3
Disclosure Regarding Real Estate Agency Relationships Form - CORRECT
ANSWER>>- 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 - CORRECT ANSWER>>- 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 - CORRECT ANSWER>>- The employer of an agent or broker; the broker's
or agent's client.
Price Fixing - CORRECT ANSWER>>- Conspiring to establish fixed fees or prices for
services or products.
Market Allocation - CORRECT ANSWER>>- An agreement between members of a
trade conspiring to refrain from competition in specific market areas.
Independent Contractor Relationship - CORRECT ANSWER>>- A person that
provides services to another under
terms specified in a contract or within a verbal agreement. An independent
contractor is not an
employee.
- The agent does not have to work in a specific location
- The broker cannot control the agent's work activities
4
Bundle of Rights - CORRECT ANSWER>>- The premise that the ownership of real
estate consists of the ownership of the various rights associated with it. These
rights include the right to use and/or copy, 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 to quiet enjoyment.
Littoral Rights - CORRECT ANSWER>>- 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 - CORRECT ANSWER>>The right of a property owner whose land
