NY REAL ESTATE LICENSE EXAMINATION
TEST 2026 FULL QUESTIONS AND 100%
CORRECT ANSWERS
⩥ License Law & Regulations? Answer: The New York Department of
State, Division of licensing Services is the regulatory agency that
oversees and administers the licensure process.
Most of the law pertaining to salespersons and brokers is contained in
Article 12-A of the real property law.
⩥ A real estate broker? Answer: is any person, partnership, association
or corporation who, for another, and for compensation of any kind,
negotiates any form of real estate transaction.
Real estate brokers supervise and are responsible for the activities of
associate brokers and salespersons in their employ.
⩥ A salesperson or an associate broker Answer: cannot operate
independently. Although licensed, they must work under a licensed Real
Estate Broker
⩥ Duties That Require Licensure Answer: * Selling or purchasing real
estate at an auction
,*Negotiating the sale of a business for which the values of the real estate
transferred is not merely incidental to the transaction (RE value is worth
more than the business
* Salespersons must be 18 years of age.
* Brokers must be 20 years old with 2 years experience
* Points for Broker License work as salesperson & 3500 points or 3
years and 5250 points.
*Licenses are renewed every two{2} years
⩥ Exemptions to Licensure Answer: Building superintendents or
maintenance workers who perform tasks such as rent collecting for one
owner, company or entity.
⩥ Classes of Licensure for Brokers Answer: Ø Each officer of a
corporation or member of a co-partnership must be licensed as a broker.
Ø Salespersons licenses are not issued to officers of corporations or
members of co-partnerships.
,Ø Salespersons and associate brokers may not be principals in the
brokerage firm and may not own voting stock in the licensed brokerage
corporation.
⩥ License and Pocket Card Answer: Ø Pocket Cards must be carried at
all times and shown on demand.
· Fees, Office Requirements, and Terms of Licensure
Ø Brokers must pay $150.00 and Salespersons $50.00 for each term.
Ø Additional licenses for each branch office cost $150.00.
⩥ An apartment-sharing agent Answer: is an individual who, for a fee,
arranges and coordinates meetings between the current owners of real
property, including apartment housing who wish to share their housing
with others.
⩥ A mortgage banker Answer: is an individual or entity licensed by the
New York Banking Department to engage in the business of making
residential mortgage loans. Licensed and lends.
⩥ Compensation and Fee Splitting Answer: Ø Salespersons may not
accept compensation except from their sponsoring brokers
Ø If brokers improperly pay any part of compensation to anyone who is
not licensed or who is not exempt from the license law, they are in
violation of the license law,
, this payment is called a kickback.
⩥ Lawsuits for Commissions Answer: An unlicensed person, co-
partnership or corporation cannot bring about a lawsuit to collect
compensation for real estate services rendered because-
only a licensed real estate broker or salesperson is entitled to a judgment
by the courts.
⩥ Violations of Real Estate License Law Answer: Ø Failing to provide
adequate disclosure regarding any or all of the following:
a) if licensees purchase property listed by their firm, they must make
their position clear to the seller,
b) the licensee must make clear their position regarding the party for
whom they are acting in a residential real estate transaction-seller, buyer
or both.
Ø Receiving compensation from more than one party in a real estate
transaction without the knowledge and consent of all parties.
Ø Being a party to an exclusive listing contract that contains an
automatic continuation of the listing beyond the specified termination
date.
TEST 2026 FULL QUESTIONS AND 100%
CORRECT ANSWERS
⩥ License Law & Regulations? Answer: The New York Department of
State, Division of licensing Services is the regulatory agency that
oversees and administers the licensure process.
Most of the law pertaining to salespersons and brokers is contained in
Article 12-A of the real property law.
⩥ A real estate broker? Answer: is any person, partnership, association
or corporation who, for another, and for compensation of any kind,
negotiates any form of real estate transaction.
Real estate brokers supervise and are responsible for the activities of
associate brokers and salespersons in their employ.
⩥ A salesperson or an associate broker Answer: cannot operate
independently. Although licensed, they must work under a licensed Real
Estate Broker
⩥ Duties That Require Licensure Answer: * Selling or purchasing real
estate at an auction
,*Negotiating the sale of a business for which the values of the real estate
transferred is not merely incidental to the transaction (RE value is worth
more than the business
* Salespersons must be 18 years of age.
* Brokers must be 20 years old with 2 years experience
* Points for Broker License work as salesperson & 3500 points or 3
years and 5250 points.
*Licenses are renewed every two{2} years
⩥ Exemptions to Licensure Answer: Building superintendents or
maintenance workers who perform tasks such as rent collecting for one
owner, company or entity.
⩥ Classes of Licensure for Brokers Answer: Ø Each officer of a
corporation or member of a co-partnership must be licensed as a broker.
Ø Salespersons licenses are not issued to officers of corporations or
members of co-partnerships.
,Ø Salespersons and associate brokers may not be principals in the
brokerage firm and may not own voting stock in the licensed brokerage
corporation.
⩥ License and Pocket Card Answer: Ø Pocket Cards must be carried at
all times and shown on demand.
· Fees, Office Requirements, and Terms of Licensure
Ø Brokers must pay $150.00 and Salespersons $50.00 for each term.
Ø Additional licenses for each branch office cost $150.00.
⩥ An apartment-sharing agent Answer: is an individual who, for a fee,
arranges and coordinates meetings between the current owners of real
property, including apartment housing who wish to share their housing
with others.
⩥ A mortgage banker Answer: is an individual or entity licensed by the
New York Banking Department to engage in the business of making
residential mortgage loans. Licensed and lends.
⩥ Compensation and Fee Splitting Answer: Ø Salespersons may not
accept compensation except from their sponsoring brokers
Ø If brokers improperly pay any part of compensation to anyone who is
not licensed or who is not exempt from the license law, they are in
violation of the license law,
, this payment is called a kickback.
⩥ Lawsuits for Commissions Answer: An unlicensed person, co-
partnership or corporation cannot bring about a lawsuit to collect
compensation for real estate services rendered because-
only a licensed real estate broker or salesperson is entitled to a judgment
by the courts.
⩥ Violations of Real Estate License Law Answer: Ø Failing to provide
adequate disclosure regarding any or all of the following:
a) if licensees purchase property listed by their firm, they must make
their position clear to the seller,
b) the licensee must make clear their position regarding the party for
whom they are acting in a residential real estate transaction-seller, buyer
or both.
Ø Receiving compensation from more than one party in a real estate
transaction without the knowledge and consent of all parties.
Ø Being a party to an exclusive listing contract that contains an
automatic continuation of the listing beyond the specified termination
date.
