Study Guide for the NY Real Estate Exam PDF 2026/2027 | New York Salesperson Exam Prep & Practice Questions

Study Guide for the
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Prep & Practice Questions.pdf




Study Guide for the NY Real Estate
Exam PDF 2026 – New York
Salesperson Exam Prep & Practice
Questions




Study Guide for the
Study
NYGuide
Real Estate
for the
Study
Exam
NYGuide
Real
PDFEstate
for
2026
the Exam
NY
– Real
New
PDF Estate
York
2026Salesperson
Exam
– New
PDFYork
Exam
2026
Salesperson
–
Prep
New
& Practice
York
ExamSalesperson
Questions.pdf
Prep & Practice
Exam Questions.pdf
Prep & Practice Questions.pdf

,STUDY GUIDE FOR THE NY REAL ESTATE EXAM.pdf STUDY GUIDE FOR THE NY REAL ESTATE EXAM.pdf STUDY GUIDE FOR THE NY REAL ESTATE EXAM.pdf


Terms in this set (61)



Independent contractor must pay their own expenses. According to IRS code section 3508[A, B],
real estate agents are statutory non-employees and are therefore
independent contractors.


The code also states that there must be a written contract between the broker
and the sales associate, also reviewed every 12-15 months


· All records must be kept for 3 years


· If sales associate not deemed independent then they will not be able to file
"SCHEDULE C' of the federal return


· The Independent Contractor Relationship
Ø Salespersons are free to engage in outside employment
Ø Either party may terminate the relationship at any time




STUDY GUIDE FOR THE NY REAL ESTATE EXAM.pdf STUDY GUIDE FOR THE NY REAL ESTATE EXAM.pdf STUDY GUIDE FOR THE NY REAL ESTATE EXAM.pdf

,STUDY GUIDE FOR THE NY REAL ESTATE EXAM.pdf STUDY GUIDE FOR THE NY REAL ESTATE EXAM.pdf STUDY GUIDE FOR THE NY REAL ESTATE EXAM.pdf




License Law & Regulations 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 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.




STUDY GUIDE FOR THE NY REAL ESTATE EXAM.pdf STUDY GUIDE FOR THE NY REAL ESTATE EXAM.pdf STUDY GUIDE FOR THE NY REAL ESTATE EXAM.pdf

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A salesperson or an associate broker cannot operate independently. Although licensed, they must work under a
licensed Real Estate Broker


Duties That Require Licensure * 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 Building superintendents or maintenance workers who perform tasks such as
rent collecting for one owner, company or entity.




STUDY GUIDE FOR THE NY REAL ESTATE EXAM.pdf STUDY GUIDE FOR THE NY REAL ESTATE EXAM.pdf STUDY GUIDE FOR THE NY REAL ESTATE EXAM.pdf