NY REAL ESTATE ACTUAL EXAM TEST|COMPLETE AND GRADED
QUESTIONS AND ANSWERS 2026 LATEST UPDATED | 100% GRADED
CORRECT | 100% GUARANTEED TO PASS | GET A+
A broker legitimately may pay all or part of Real estate commission to a -
(ANSWER)salesperson
The minimum age for a New York real estate broker's license is - (ANSWER)20
Which of the following acts would require a real estate license in New York - (ANSWER)Sale
of land by an auctioneer
Violation of the license law is a misdemeanor, Punishable by up to a year in jail and a fine of -
(ANSWER)$1,000
When salesperson Tom Jones left ABC Realty and went to work with XYZ REALTORS, Tom's
listings - (ANSWER)Remained with ABC Realty.
A salesperson's license must be - (ANSWER)retained by the principal broker
,When does offering a client's business for sale Require a real estate license? - (ANSWER)When
more then half the value is real estate
An apartment information vendor is licensed by: - (ANSWER)Department of State
When a license is revoked how long must a licensee wait before applying to have the license
reinstated? - (ANSWER)1 year
The form of listing whereby an owner lists property for sale with a number of brokers is known
as a(n) - (ANSWER)Open listing.
To avoid possible liability for the actions of c cooperating members of a multiple listing system
the owner who lists property for sale may decline to offer - (ANSWER)Subagency.
An agent who has the authority to represent the principal in specific matters is a(n): -
(ANSWER)general agent
An agent who has the authority to represent the principal in specific matters is -
(ANSWER)a(n) general agent
,Jan Lipson gave Sun City Realty an exclusive agency listing on her property. If she sells the
Property herself without involving Sun City She will owe Sun City - (ANSWER)No
commission.
When selling a property in New York the Licensee is required to disclose to a potential Buyer
that - (ANSWER)The property lies in an agricultural district.
The commission to be paid in a written listing Agreement is the rate set by law -
(ANSWER)Percentage of the sales price as negotiated and agreed or a flat fee.
The relationship between an agent and his or her - (ANSWER)Fiduciary.
If you are selling a house in New York it is necessary to disclose that - (ANSWER)There is a
utility surcharge.
Seller is legally required to reveal to a buyer anything seller knows about - (ANSWER)Lead
paint hazards on the property.
To create an agency relationship it is necessary that - (ANSWER)The principal and agent sign a
written agreement.
, If you are a salesperson working with a buyer then the buyer is your client - (ANSWER)if you
have an agency contract with the buyer
The type of listing illegal in New York State is a (n) - (ANSWER)Net listing.
A licensed salesperson or broker associate acting as an independent contractor must: -
(ANSWER)be paid based upon sales and output and execute a written independent contractor
agreement yearly with the broker
A salesperson sells another firm's listing of a commercial building for $462500. The 7 percent
commission is split 50/50 between the two companies. The salesperson received 60 percent of
her office's share. How much does she receive? - (ANSWER)$9712.50
A broker may be entitled to a commission in the event that the sale does not close if the problem
was caused by the - (ANSWER)Seller.
Big Apple Realty is concerned that its Commission on a sale will not be paid Big Apple Realty
may - (ANSWER)File an affidavit of entitlement.
QUESTIONS AND ANSWERS 2026 LATEST UPDATED | 100% GRADED
CORRECT | 100% GUARANTEED TO PASS | GET A+
A broker legitimately may pay all or part of Real estate commission to a -
(ANSWER)salesperson
The minimum age for a New York real estate broker's license is - (ANSWER)20
Which of the following acts would require a real estate license in New York - (ANSWER)Sale
of land by an auctioneer
Violation of the license law is a misdemeanor, Punishable by up to a year in jail and a fine of -
(ANSWER)$1,000
When salesperson Tom Jones left ABC Realty and went to work with XYZ REALTORS, Tom's
listings - (ANSWER)Remained with ABC Realty.
A salesperson's license must be - (ANSWER)retained by the principal broker
,When does offering a client's business for sale Require a real estate license? - (ANSWER)When
more then half the value is real estate
An apartment information vendor is licensed by: - (ANSWER)Department of State
When a license is revoked how long must a licensee wait before applying to have the license
reinstated? - (ANSWER)1 year
The form of listing whereby an owner lists property for sale with a number of brokers is known
as a(n) - (ANSWER)Open listing.
To avoid possible liability for the actions of c cooperating members of a multiple listing system
the owner who lists property for sale may decline to offer - (ANSWER)Subagency.
An agent who has the authority to represent the principal in specific matters is a(n): -
(ANSWER)general agent
An agent who has the authority to represent the principal in specific matters is -
(ANSWER)a(n) general agent
,Jan Lipson gave Sun City Realty an exclusive agency listing on her property. If she sells the
Property herself without involving Sun City She will owe Sun City - (ANSWER)No
commission.
When selling a property in New York the Licensee is required to disclose to a potential Buyer
that - (ANSWER)The property lies in an agricultural district.
The commission to be paid in a written listing Agreement is the rate set by law -
(ANSWER)Percentage of the sales price as negotiated and agreed or a flat fee.
The relationship between an agent and his or her - (ANSWER)Fiduciary.
If you are selling a house in New York it is necessary to disclose that - (ANSWER)There is a
utility surcharge.
Seller is legally required to reveal to a buyer anything seller knows about - (ANSWER)Lead
paint hazards on the property.
To create an agency relationship it is necessary that - (ANSWER)The principal and agent sign a
written agreement.
, If you are a salesperson working with a buyer then the buyer is your client - (ANSWER)if you
have an agency contract with the buyer
The type of listing illegal in New York State is a (n) - (ANSWER)Net listing.
A licensed salesperson or broker associate acting as an independent contractor must: -
(ANSWER)be paid based upon sales and output and execute a written independent contractor
agreement yearly with the broker
A salesperson sells another firm's listing of a commercial building for $462500. The 7 percent
commission is split 50/50 between the two companies. The salesperson received 60 percent of
her office's share. How much does she receive? - (ANSWER)$9712.50
A broker may be entitled to a commission in the event that the sale does not close if the problem
was caused by the - (ANSWER)Seller.
Big Apple Realty is concerned that its Commission on a sale will not be paid Big Apple Realty
may - (ANSWER)File an affidavit of entitlement.
