NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy
Quality Materials
Individuals not exempt from the licensure requirements would be:
A: Trustees in a Bankruptcy
B:Attorneys
C:Receivers
D:Those under age 21
D: Those under Age 21
The New York regulatory agency that oversees the real estate licensure is the:
A :Multiple Listing Service
B: New York State Real Estate Board
C: Department of Law
D: Department of State
D: Department of State
A seller pays an extra commission to go entirely to the salesperson. The
salesperson:
A: May receive extra monies if the sponsoring broker first receives the monies
and pays it to the salesperson
B: May not accept the 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
A: May receive extra monies if the sponsoring broker first receives the monies and pays
it to the salesperson
A licensee activity 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
C: Advising a Buyer as to the validity of a deed
A person typically exempt from real estate licensure is one:
A: Who lists only property for sale for others
B: Acts for another 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
B: Acts for another rental agent for one property
To induce a prospective buyer to purchase a property, a real estate broker
informs the buyer that the property is six years old although the broker knows the
property is 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 committed to act of willful misrepresentation
C: Buyer can have contract set aside
D: Seller, not the broker, is responsible for any misrepresentation
,D: Seller, not the broker, is responsible for any misrepresentation
The maximum time allowed to renew a license without having to retake the state
exam is:
A: Within two years of the expiration date of the license
B: No later then the expiration fo the license
C: Six months before the expiration date
D: One year from the date the license was issued
A: Within two years of the expiration date of the license
A real estate salesperson license is :
A: Kept by the salesperson
B: Kept by the broker
C: Conspicuously kept by the broker
D: one year from the date the license was issued
B: Kept by the broker
According to license law and regulations. the DOS requires a broker to:
A: Open at least one branch office
B: Conspicuously display the broker's license
C: Hire other salespersons
D: lose at least ten transactions a year
B: Conspicuously display the broker's license
Which of the following is not exempt from taking continuing education? A(n):
A: Broker licensed before July 1 2008 for 15 continuous years
B: Salesperson licensed for 15 continuous years
C: attorney licensed to
B: Salesperson licensed for 15 continuous years
Which of the following statements is FALSE:
A: Net listings are legal in some New York counties
B: Real estate broker applicants must be at least 20 years old
C: Attorneys are exempt from continuing education requirements
D: The licensure term for real estate persons is two years
A: Net listings are legal in some New York counties
Which of the following is TRUE regarding the termination of association by a
broker?
A: The broker need not do anything except bid a final farewell
B: A new salesperson must stay with the first brokerage firm for a minimum of
one year
C: A salesperson cannot associate with another brokerage firm until his or her
termination of association is filed with DOS
D: The Broker must file a termination of association online with NYSDFS
C: A salesperson cannot associate with another brokerage firm until his or her
termination of association is filed with DOS
Should the DOS pursue a complaint about the licensee's activity, which of the
following is FALSE?
A: The DOS may investigate the complaint
B: A hearing may be scheduled in front of an administrative law judge
C: The decision from a DOS hearing may be appealed to the NYS secretary of
, state
D: The licensee has no right to appeal the findings of a DOS hearing
D: The licensee has no right to appeal the findings of a DOS hearing
The form that gives you the New York courts jurisdiction over licensees who
reside out of state is:
A: A irrevocable consent
B: Change of personal name
C: Judicial subpoena
D: Disclosure
A: A irrevocable consent
To attain a licensure, broker applicants must have a minimum of how many years
of salesperson licensure?
A: One Year
B: Two Years
C: Three Years
B: Two Years
In New York, individuals may apply for licensure if they:
A: Are citizens
B: Are legally present in the United States
C: Posses a U.S. permanent resident (Green Card)
D: Any of the above
D: Any of the Above
A licensee activity that violates the license law occurs when a salesperson:
A: Markets his own property through his real estate office
B: Terminates an association with a broker after one year
C: Gives a seller a copy of the listing contract
D: Omits the name of his broker of brokerage firm on his business card
D: Omits the name of his broker of brokerage firm on his business card
In New York, unlicensed assistants may NOT:
A: Show a property
B: Monitor files and report findings to a licensee
C: Compute commission Checks
D: Prepare promotional materials
A: Show a property
In New York, a branch manager may be a(n):
A: Salesperson
B: Unlicensed assistant
C: Associate Broker
D: Licensee with two or more years' experience in the real estate business
C: Associate Broker
A change of association informs the DOS that a(n)
A: Licensee works for more than one company
B: Licensee has signed on with a new sponsoring broker
C: Associate broker has become a broker
D: Licensee, whether a salesperson or an associate broker, has terminated
association with his current broker
Quality Materials
Individuals not exempt from the licensure requirements would be:
A: Trustees in a Bankruptcy
B:Attorneys
C:Receivers
D:Those under age 21
D: Those under Age 21
The New York regulatory agency that oversees the real estate licensure is the:
A :Multiple Listing Service
B: New York State Real Estate Board
C: Department of Law
D: Department of State
D: Department of State
A seller pays an extra commission to go entirely to the salesperson. The
salesperson:
A: May receive extra monies if the sponsoring broker first receives the monies
and pays it to the salesperson
B: May not accept the 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
A: May receive extra monies if the sponsoring broker first receives the monies and pays
it to the salesperson
A licensee activity 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
C: Advising a Buyer as to the validity of a deed
A person typically exempt from real estate licensure is one:
A: Who lists only property for sale for others
B: Acts for another 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
B: Acts for another rental agent for one property
To induce a prospective buyer to purchase a property, a real estate broker
informs the buyer that the property is six years old although the broker knows the
property is 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 committed to act of willful misrepresentation
C: Buyer can have contract set aside
D: Seller, not the broker, is responsible for any misrepresentation
,D: Seller, not the broker, is responsible for any misrepresentation
The maximum time allowed to renew a license without having to retake the state
exam is:
A: Within two years of the expiration date of the license
B: No later then the expiration fo the license
C: Six months before the expiration date
D: One year from the date the license was issued
A: Within two years of the expiration date of the license
A real estate salesperson license is :
A: Kept by the salesperson
B: Kept by the broker
C: Conspicuously kept by the broker
D: one year from the date the license was issued
B: Kept by the broker
According to license law and regulations. the DOS requires a broker to:
A: Open at least one branch office
B: Conspicuously display the broker's license
C: Hire other salespersons
D: lose at least ten transactions a year
B: Conspicuously display the broker's license
Which of the following is not exempt from taking continuing education? A(n):
A: Broker licensed before July 1 2008 for 15 continuous years
B: Salesperson licensed for 15 continuous years
C: attorney licensed to
B: Salesperson licensed for 15 continuous years
Which of the following statements is FALSE:
A: Net listings are legal in some New York counties
B: Real estate broker applicants must be at least 20 years old
C: Attorneys are exempt from continuing education requirements
D: The licensure term for real estate persons is two years
A: Net listings are legal in some New York counties
Which of the following is TRUE regarding the termination of association by a
broker?
A: The broker need not do anything except bid a final farewell
B: A new salesperson must stay with the first brokerage firm for a minimum of
one year
C: A salesperson cannot associate with another brokerage firm until his or her
termination of association is filed with DOS
D: The Broker must file a termination of association online with NYSDFS
C: A salesperson cannot associate with another brokerage firm until his or her
termination of association is filed with DOS
Should the DOS pursue a complaint about the licensee's activity, which of the
following is FALSE?
A: The DOS may investigate the complaint
B: A hearing may be scheduled in front of an administrative law judge
C: The decision from a DOS hearing may be appealed to the NYS secretary of
, state
D: The licensee has no right to appeal the findings of a DOS hearing
D: The licensee has no right to appeal the findings of a DOS hearing
The form that gives you the New York courts jurisdiction over licensees who
reside out of state is:
A: A irrevocable consent
B: Change of personal name
C: Judicial subpoena
D: Disclosure
A: A irrevocable consent
To attain a licensure, broker applicants must have a minimum of how many years
of salesperson licensure?
A: One Year
B: Two Years
C: Three Years
B: Two Years
In New York, individuals may apply for licensure if they:
A: Are citizens
B: Are legally present in the United States
C: Posses a U.S. permanent resident (Green Card)
D: Any of the above
D: Any of the Above
A licensee activity that violates the license law occurs when a salesperson:
A: Markets his own property through his real estate office
B: Terminates an association with a broker after one year
C: Gives a seller a copy of the listing contract
D: Omits the name of his broker of brokerage firm on his business card
D: Omits the name of his broker of brokerage firm on his business card
In New York, unlicensed assistants may NOT:
A: Show a property
B: Monitor files and report findings to a licensee
C: Compute commission Checks
D: Prepare promotional materials
A: Show a property
In New York, a branch manager may be a(n):
A: Salesperson
B: Unlicensed assistant
C: Associate Broker
D: Licensee with two or more years' experience in the real estate business
C: Associate Broker
A change of association informs the DOS that a(n)
A: Licensee works for more than one company
B: Licensee has signed on with a new sponsoring broker
C: Associate broker has become a broker
D: Licensee, whether a salesperson or an associate broker, has terminated
association with his current broker
