real estate law EXAM A+ GRADE ASSURED COMPLETE SOLUTIONS AND VERIFIED ANSWERS

REAL ESTATE EXAM@x @x




Exam Solution @x




Real Estate U Final ELABORATED EXAM (A+ GRADED 1
@x @x @x @x @x @x @x @x




00% VERIFIED) QUESTIONS & ANSWERS LATEST!! 202
@x @x @x @x @x @x




6 A+ GRADE ASSURED COMPLETE SOLUTIONS AND VE
@x @x @x @x @x @x @x




RIFIED ANSWERS (DD3C1) @x @x




QUESTION 1 @x




Article 12-A of the NYS Real Property Law
@x @x @x @x @x @x @x




ANSWER

-
@xThe section of the New York Real Property Law pertaining to real estate salespersons and brokers
@x @x @x @x @x @x @x @x @x @x @x @x @x @x @x



. - Primary purpose is to "Protect the Public" -
@x @x @x @x @x @x @x @x @x



@xRequires a salesperson to be at least 18 years of age -
@x @x @x @x @x @x @x @x @x @x @x



@xRequires a broker to be at least 20 years of age
@x @x @x @x @x @x @x @x @x @x




QUESTION 2 @x




Sponsor
ANSWER

- A licensed real estate broker that holds the license of a salesperson.
@x @x @x @x @x @x @x @x @x @x @x @x




QUESTION 3 @x




"Summary of Your Submission" @x @x @x




ANSWER

-
Obtained after you register for the New York State Salesperson exam using eAccessNY. You must
@x @x @x @x @x @x @x @x @x @x @x @x @x @x @x @x



bring your "Summary of Your Submission" with you when taking the State exam.
@x @x @x @x @x @x @x @x @x @x @x @x




QUESTION 4 @x

,Misdemeanor
ANSWER

- A crime punishable by up to a year in prison and/or a $1,000 fine.
@x @x @x @x @x @x @x @x @x @x @x @x @x @x




QUESTION 5 @x




Listing Agreement @x




ANSWER

-
An employment contract between principal and agent, authorizing the agent to perform services fo
@x @x @x @x @x @x @x @x @x @x @x @x @x @x



r the principle involving the latter's property
@x @x @x @x @x @x




QUESTION 6 @x




Pocket Card @x




ANSWER

-
A card issued by the Department of State to each licensee which contains the photo, name and bu
@x @x @x @x @x @x @x @x @x @x @x @x @x @x @x @x @x @x



siness address of the licensee, and, in the case of a real estate salesperson, the name and business
@x @x @x @x @x @x @x @x @x @x @x @x @x @x @x @x @x @x



address of the broker with whom he or she is associated and shall certify that the person whose n
@x @x @x @x @x @x @x @x @x @x @x @x @x @x @x @x @x @x



ame appears thereon is a licensed real estate broker or salesperson. -
@x @x @x @x @x @x @x @x @x @x @x



Must be carried by the agent at all times when serving as a salesperson.
@x @x @x @x @x @x @x @x @x @x @x @x @x @x




QUESTION 7 @x




Fiduciary
ANSWER

-
A person who on behalf of or for the benefit of another transacts business or handles money or p
@x @x @x @x @x @x @x @x @x @x @x @x @x @x @x @x @x @x @x



roperty not the person's own; such relationship implies great confidence and trust.
@x @x @x @x @x @x @x @x @x @x @x




QUESTION 8 @x




OLD CAR @x




ANSWER

- Obedience - Loyalty - Disclosure - Confidentiality - Accountability - Reasonable Care
@x @x @x @x @x @x @x @x @x @x @x @x




QUESTION 9 @x

, Obedience
ANSWER

- Agent must act in accordance to clients demands/instructions.
@x @x @x @x @x @x @x @x




QUESTION 10 @x




Loyalty
ANSWER

- Agent must work in the best interest of the client.
@x @x @x @x @x @x @x @x @x @x




QUESTION 11 @x




Disclosure of Information @x @x




ANSWER

- Agent must communicate with client/must present all offers.
@x @x @x @x @x @x @x @x




QUESTION 12 @x




Confidentiality
ANSWER

-
All confidential information as described by client must remain so unless given permission in writi
@x @x @x @x @x @x @x @x @x @x @x @x @x @x @x



ng.



QUESTION 13 @x




Accountability
ANSWER

- One of the more serious fiduciary responsibilities.
@x @x @x @x @x @x @x




QUESTION 14 @x




Reasonable Care @x




ANSWER

- Agent may be liable for costly mistakes.
@x @x @x @x @x @x @x