Latest 2026/2027 NYS Real Estate
Exam with verified answers
NYS Dept of State - correct answer>>>agency that licenses real estate agents/brokers
Property law name - correct answer>>>Article 12A
Types of real estate licenses (3) - correct answer>>>salesperson, associate broker,
broker
An associate broker... - correct answer>>>has no broker powers
A broker... - correct answer>>>sponsors salespeople and associate brokers
The salesperson's license is kept by... - correct answer>>>the broker for whom the
salesperson is working for, kept in a secure place
Pocket ID card - correct answer>>>Kept with the agent, should be carried at all times
Any changes to a salesperson's license - correct answer>>>should be submitted to the
Department of State with 5 days notice
Fees for license - correct answer>>>Salesperson: $50 every 2 years
Broker/Associate broker: $150 every 2 years
Education requirements - correct answer>>>22.5 hours of continuing education prior to
license renewal
Total educational hours for broker's license - correct answer>>>120 hours (75 sales, 45
brokers)
3500 points sales experience, 2 yrs full time
5250 points for related experience, 3 years full time
reciprocal states to NY - correct answer>>>9
Arkansas
Colorado
Connecticut
Georgia
Massachusetts
Mississippi
Oklahoma
Pennsylvania
West Virginia
,What are the other DOS Licenses? (5) - correct answer>>>1. Notary public
2. Apartment Information Vendor
3. Apartment Sharing Agent
4. Appraiser
5 Home inspector
Office regulations - correct answer>>>1. Must have appropriate office signage
2. Kickbacks are illegal!
3. Blind ads are illegal! (bait and switch)
Administrative discipline for misdeeds (3) - correct answer>>>1. suspension of license
2. Revocation of license (must wait one year before applying for licensing privilege)
3. Article 78 proceeding - Appeal a decision
Stigmatized property disclosure - correct answer>>>Article 443, sellers and seller
agents do not have to disclose this info and may or may not disclose upon written
request of the buyer or buyer agent. A seller agent can disclose only with permission of
the seller. A buyer or buyer agent may provide written request for disclosure to the
seller or seller agent during negotiations for purchase.
Do Attorneys need a license to practice real estate brokerage? - correct answer>>>No,
except for when they employ licensee to work under their supervision
Commingling of funds - correct answer>>>ILLEGAL!
Net listings - correct answer>>>ILLEGAL!
Violation of license law - correct answer>>>misdemeanor and punishable by $1K fine
and or a maximum sentence of a year in jail
Revocation of a broker's license... - correct answer>>>suspends the license of
salespersons and associate brokers in the broker's employ
Property Condition Disclosure Statement - correct answer>>>must be provided to the
buyer's agent before the sellers accept the purchase offer
Uncapped natural gas wells - correct answer>>>must be disclosed by seller to buyer
before entering into a contract of sale.
Who can be an officer in a real estate company? - correct answer>>>Only full broker.
Not an associate broker, not a salesperson
Who can show property? - correct answer>>>Only licensed salespeople or brokers
, Agent - correct answer>>>usually works for seller, but can also work for a buyer,
representation, looks for best interest of party, for the buyer an agent usually services,
goes through motions but no fiduciary responsibilty
Customer - correct answer>>>the party whom the agent brings to the pricipal as a seller
or buyer of the property
Client - correct answer>>>the person who selects the agent to acts on his behalf
dual agency - correct answer>>>when agent acts for both buyer and seller (they only
have fucidicary responsibilty to whom hired them)
Fudiciary responsibilities - correct answer>>>OLD CAR
Obedience
Loyalty
Disclosure of Info
Confidentiality
Accountability
Reasonable care, skill, dilligence
This is given to a client, never a customer
Real estate agent is known as... - correct answer>>>SPECIAL AGENT (one matter)
special agent with specific authority
Vicarious liability - correct answer>>>the responsibility of one for the acts of another. In
the real estate business, this would be the case when a listing or buyer broker is an
"agent" of the seller or buyer. The client can be held responsible for the actions of the
broker agent if they have knowledge of an improper or negligent act.
Express Agency - correct answer>>>Listing agreement, usually in writing (exclusive)
Implied Agency - correct answer>>>open listing, handshake deal
All agency agreements whether express or implied are consensual.
Commission payout scenarios (2): - correct answer>>>1. % of final price
2. Flat fee
NOTE: Next listing commission (aka: 'keep the change" is illegal in NY
Forms for Representation - correct answer>>>Buyer, seller or both, but can't exchange
vital info if representing both
Buyer agent - correct answer>>>this is a CLIENT, not a customer
Exam with verified answers
NYS Dept of State - correct answer>>>agency that licenses real estate agents/brokers
Property law name - correct answer>>>Article 12A
Types of real estate licenses (3) - correct answer>>>salesperson, associate broker,
broker
An associate broker... - correct answer>>>has no broker powers
A broker... - correct answer>>>sponsors salespeople and associate brokers
The salesperson's license is kept by... - correct answer>>>the broker for whom the
salesperson is working for, kept in a secure place
Pocket ID card - correct answer>>>Kept with the agent, should be carried at all times
Any changes to a salesperson's license - correct answer>>>should be submitted to the
Department of State with 5 days notice
Fees for license - correct answer>>>Salesperson: $50 every 2 years
Broker/Associate broker: $150 every 2 years
Education requirements - correct answer>>>22.5 hours of continuing education prior to
license renewal
Total educational hours for broker's license - correct answer>>>120 hours (75 sales, 45
brokers)
3500 points sales experience, 2 yrs full time
5250 points for related experience, 3 years full time
reciprocal states to NY - correct answer>>>9
Arkansas
Colorado
Connecticut
Georgia
Massachusetts
Mississippi
Oklahoma
Pennsylvania
West Virginia
,What are the other DOS Licenses? (5) - correct answer>>>1. Notary public
2. Apartment Information Vendor
3. Apartment Sharing Agent
4. Appraiser
5 Home inspector
Office regulations - correct answer>>>1. Must have appropriate office signage
2. Kickbacks are illegal!
3. Blind ads are illegal! (bait and switch)
Administrative discipline for misdeeds (3) - correct answer>>>1. suspension of license
2. Revocation of license (must wait one year before applying for licensing privilege)
3. Article 78 proceeding - Appeal a decision
Stigmatized property disclosure - correct answer>>>Article 443, sellers and seller
agents do not have to disclose this info and may or may not disclose upon written
request of the buyer or buyer agent. A seller agent can disclose only with permission of
the seller. A buyer or buyer agent may provide written request for disclosure to the
seller or seller agent during negotiations for purchase.
Do Attorneys need a license to practice real estate brokerage? - correct answer>>>No,
except for when they employ licensee to work under their supervision
Commingling of funds - correct answer>>>ILLEGAL!
Net listings - correct answer>>>ILLEGAL!
Violation of license law - correct answer>>>misdemeanor and punishable by $1K fine
and or a maximum sentence of a year in jail
Revocation of a broker's license... - correct answer>>>suspends the license of
salespersons and associate brokers in the broker's employ
Property Condition Disclosure Statement - correct answer>>>must be provided to the
buyer's agent before the sellers accept the purchase offer
Uncapped natural gas wells - correct answer>>>must be disclosed by seller to buyer
before entering into a contract of sale.
Who can be an officer in a real estate company? - correct answer>>>Only full broker.
Not an associate broker, not a salesperson
Who can show property? - correct answer>>>Only licensed salespeople or brokers
, Agent - correct answer>>>usually works for seller, but can also work for a buyer,
representation, looks for best interest of party, for the buyer an agent usually services,
goes through motions but no fiduciary responsibilty
Customer - correct answer>>>the party whom the agent brings to the pricipal as a seller
or buyer of the property
Client - correct answer>>>the person who selects the agent to acts on his behalf
dual agency - correct answer>>>when agent acts for both buyer and seller (they only
have fucidicary responsibilty to whom hired them)
Fudiciary responsibilities - correct answer>>>OLD CAR
Obedience
Loyalty
Disclosure of Info
Confidentiality
Accountability
Reasonable care, skill, dilligence
This is given to a client, never a customer
Real estate agent is known as... - correct answer>>>SPECIAL AGENT (one matter)
special agent with specific authority
Vicarious liability - correct answer>>>the responsibility of one for the acts of another. In
the real estate business, this would be the case when a listing or buyer broker is an
"agent" of the seller or buyer. The client can be held responsible for the actions of the
broker agent if they have knowledge of an improper or negligent act.
Express Agency - correct answer>>>Listing agreement, usually in writing (exclusive)
Implied Agency - correct answer>>>open listing, handshake deal
All agency agreements whether express or implied are consensual.
Commission payout scenarios (2): - correct answer>>>1. % of final price
2. Flat fee
NOTE: Next listing commission (aka: 'keep the change" is illegal in NY
Forms for Representation - correct answer>>>Buyer, seller or both, but can't exchange
vital info if representing both
Buyer agent - correct answer>>>this is a CLIENT, not a customer
