NYS Real Estate Practice Exam questions and answers
2026\2027 A+ Grade
What agency issues real estate licenses?
- correct answer The New York State Department of State (NYDOS), Divison of Licensing Services
At what age can you become a real estate salesperson?
- correct answer 18
Do you need experience in the field to become a sales person?
- correct answer No
What is the minimum age to become a real estate broker?
- correct answer 20
If your license is revoked, how long do you have to wait to re-apply for it?
- correct answer One year
Do you need experience in the field to become a broker?
- correct answer Yes, at least 2 years of experience and 3200 points
As a licensing salesperson, I can receive compensation from my?
- correct answer Sponsoring Broker
As a real estate licensee you will more often than not be an ________, will receive a ____________ and
will file a _____________
- correct answer Independent contractor, 1099, Schedule C
Attorneys admitted to the bar in NYS are _____ from the licensure law, unless they take on sales people
- correct answer Exempt
,If you mix your clients money with the office operating funds, it is called________ and you have violated
which fiducary duty?
- correct answer Commingling funds and Accountability
For how long does a broker need to keep his/her records for?
- correct answer Three years
If my license has expired, for how long can i continue to practice real estate sales?In other words, what
is the grace period?
- correct answer No Grace Period
Your real estate license with the pocket card will be sent to your sponsoring broker. who holds the
license? Who holds the pocket card?
- correct answer Broker holds the license and I hold the pocket card
How many hours of continuing ed must a sales person take?
- correct answer 22.5 hours
As a real estate sales person, you have to take continuing ed classes every?
- correct answer 2 years
There is also a component of _________ required every two years.
- correct answer Fair housing
Are Real Estate brokers also required to take the CE classes?
- correct answer Yes
If a seller decides not to provide the purchaser with the Property Condition Disclosure Form, how much
of a reduction in price does he have to give?
- correct answer $500
If you are a independent contractor what can a broker provide to you?
- correct answer Telephone
, As an independent contractor are you paid for the hours you put into a deal, or for "production'?
- correct answer no
What is the term of a real estate licensure?
- correct answer two years
If i was a real estate licensee and wanted to apply to become a mortgage broker, how many years of
experience would i need?
- correct answer Two Years
Violation of real estate Licensee law is a?
- correct answer Misdemeanor
What is the possible penalty of violating Real Estate Licensee Law?
- correct answer $1000 fine, and up to one year in jail
What is the very first document you should fill out with a client or customer?
- correct answer Agency Disclosure Form
At what moment should you take out the Agency Disclosure form?
- correct answer At first Substantive Contact
What does First substantive contact mean?
- correct answer When the customer begins to ask questions pretaining to the Real Estate Property.
What should you do if a customer refuses to sign an Agency Disclousure form?
- correct answer Fill out an affidavit stating the refusal to sign, then have it notarizied.
As a real estate sales person I am what kind of agent?
- correct answer Special Agent
2026\2027 A+ Grade
What agency issues real estate licenses?
- correct answer The New York State Department of State (NYDOS), Divison of Licensing Services
At what age can you become a real estate salesperson?
- correct answer 18
Do you need experience in the field to become a sales person?
- correct answer No
What is the minimum age to become a real estate broker?
- correct answer 20
If your license is revoked, how long do you have to wait to re-apply for it?
- correct answer One year
Do you need experience in the field to become a broker?
- correct answer Yes, at least 2 years of experience and 3200 points
As a licensing salesperson, I can receive compensation from my?
- correct answer Sponsoring Broker
As a real estate licensee you will more often than not be an ________, will receive a ____________ and
will file a _____________
- correct answer Independent contractor, 1099, Schedule C
Attorneys admitted to the bar in NYS are _____ from the licensure law, unless they take on sales people
- correct answer Exempt
,If you mix your clients money with the office operating funds, it is called________ and you have violated
which fiducary duty?
- correct answer Commingling funds and Accountability
For how long does a broker need to keep his/her records for?
- correct answer Three years
If my license has expired, for how long can i continue to practice real estate sales?In other words, what
is the grace period?
- correct answer No Grace Period
Your real estate license with the pocket card will be sent to your sponsoring broker. who holds the
license? Who holds the pocket card?
- correct answer Broker holds the license and I hold the pocket card
How many hours of continuing ed must a sales person take?
- correct answer 22.5 hours
As a real estate sales person, you have to take continuing ed classes every?
- correct answer 2 years
There is also a component of _________ required every two years.
- correct answer Fair housing
Are Real Estate brokers also required to take the CE classes?
- correct answer Yes
If a seller decides not to provide the purchaser with the Property Condition Disclosure Form, how much
of a reduction in price does he have to give?
- correct answer $500
If you are a independent contractor what can a broker provide to you?
- correct answer Telephone
, As an independent contractor are you paid for the hours you put into a deal, or for "production'?
- correct answer no
What is the term of a real estate licensure?
- correct answer two years
If i was a real estate licensee and wanted to apply to become a mortgage broker, how many years of
experience would i need?
- correct answer Two Years
Violation of real estate Licensee law is a?
- correct answer Misdemeanor
What is the possible penalty of violating Real Estate Licensee Law?
- correct answer $1000 fine, and up to one year in jail
What is the very first document you should fill out with a client or customer?
- correct answer Agency Disclosure Form
At what moment should you take out the Agency Disclosure form?
- correct answer At first Substantive Contact
What does First substantive contact mean?
- correct answer When the customer begins to ask questions pretaining to the Real Estate Property.
What should you do if a customer refuses to sign an Agency Disclousure form?
- correct answer Fill out an affidavit stating the refusal to sign, then have it notarizied.
As a real estate sales person I am what kind of agent?
- correct answer Special Agent
