NYS SALESPERSON LICENSE EXAM
2023 QUESTIONS AND ANSWERS
NYS Department of State - Answer-primarily responsible for issuing real estate
licenses , pocket cards , and handing down disciplinary action
Article 12 A - Answer-outlines the roles / duties of the Department of State
New York Court of Appeals - Answer-the highest court in New York State .
A real estate salesperson must be at least - Answer-18 years old
A real estate salesperson's license is valid for - Answer-2 years
Before renewing a license , the salesperson must complete - Answer-22.5 hours of
Continuing Education
If a real estate salesperson fails to renew their license within 2 years , their license is
considered - Answer-expired
Real estate salespersons may perform acts that a broker is authorized to perform , but
they do so - Answer-on behalf of a broker with whom they are associated
A real estate broker must be at least - Answer-20 years old
A real estate broker must have at least how many years of experience as a sales
person? - Answer-two years
A real estate broker must complete how many hours in the broker course for a license?
- Answer-45 hours
How many hours of total coursework should a real estate broker have completed for a
license? - Answer-120 hours total coursework
The status of an associate broker is the same as - Answer-A salesperson
Who issues the pocket card? - Answer-Department of state
The salesperson's license is held where? - Answer-sponsoring broker
When should the real estate sales person carry their pocket card? - Answer-at all times
when doing business and show it on demand
,If a real estate brokers license is suspended or revoked, what happens to each sales
person working under that broker? - Answer-of Sponsor's or each real estate
salesperson working under that broker shall also have their licenses suspended
if a licensed attorney wants to have salespersons working under them ( the attorney
acts as.... - Answer-their sponsoring broker the attorney must obtain a broker's license
All advertisements placed by a broker must list what? - Answer-Name of the broker and
telephone number
Ads that do not contain information of a broker is also known as - Answer-Blind
advertising
Brokers must maintain records of all transactions, for at least, how many years? -
Answer-Three years
General agent - Answer-Someone authorized to transact every kind of business for the
principal. example property manager
Special agent - Answer-An agent with limited authority to act on behalf of the principle,
such as created by a listing. example, real estate agent, or real estate broker
Universal agent - Answer-Has complete authority over any activity of the principal.
example power of authority
Principal or client - Answer-Buyer and/or seller
The broker is also known as what? - Answer-Agent
The sales person is also known as what? - Answer-Sub agent of their broker
When does buyer agency occur? - Answer-When a purchaser hires a broker to
represent them
A buyer representation form should be signed between who? - Answer-the buyer and
the broker
A fiduciary relationship implies what? - Answer-Great confidence and trust
The agents fiduciary duties to the client include.... - Answer-Obedience, loyalty
disclosure of information, confidentialities, accountability, reasonable care
The agency disclosure form is a written explanation to be signed by prospective buyer
or client of real estate. What does it explain? - Answer-the role that the broker plays in
the transaction
, The agency disclosure form outlines what? - Answer-The agents duties to the client
explains that an agent owes a fiduciary duty to the client and allows for advance
consent to dual agency
The agency disclosure form is not required for what? - Answer-The sale of vacant land
According to section 443 of the New York State real property law licensees must
present a written agency disclosure form that details, consumer choice about
representation when? - Answer-At the first substantive contact
Oh, if a buyer or seller refuses to sign the agency disclosure form, what should the
agent document? - Answer-Names, time, date, reasons and complete the declaration
form stating the facts
when the declaration form is done for refusal to sign the agency disclosure form , what if
any should happen next? - Answer-Acknowledgment, state the facts, and retain a copy
for at least three years
Dual agency occurs when - Answer-a broker represents both the buyer and seller in a
transaction
Undisclosed Dual Agency is - Answer-is illegal in New York State
Dual Agency the agent should notify both parties and have them sign - Answer-the
Agency Disclosure form
The agency disclosure form is known as - Answer-Advance Consent to Dual Agency
Estoppel - Answer-when a principal does not stop an individual from representing his or
her interests , thus creating an agency relationship between the two .
A listing contract is created between a seller and a broker not with wom? - Answer-a
salesperson
The listing agreement creates - Answer-an express agency relationship
Exclusive Right to Sell Agreement - Answer-This listing contract offers the most security
to the broker . The seller must work exclusively with the broker to sell their property .
The broker is entitled to a commission even if the seller finds a buyer themselves
Exclusive Agency Agreement - Answer-The seller must work exclusively with the broker
to sell their property , BUT the seller does not have to pay the broker a commission, if
they find a buyer themselves
Open Listing Contract : - Answer-The seller is allowed to work with any broker who
brings them a buyer . Only the broker who brings a buyer is entitled to a commission
2023 QUESTIONS AND ANSWERS
NYS Department of State - Answer-primarily responsible for issuing real estate
licenses , pocket cards , and handing down disciplinary action
Article 12 A - Answer-outlines the roles / duties of the Department of State
New York Court of Appeals - Answer-the highest court in New York State .
A real estate salesperson must be at least - Answer-18 years old
A real estate salesperson's license is valid for - Answer-2 years
Before renewing a license , the salesperson must complete - Answer-22.5 hours of
Continuing Education
If a real estate salesperson fails to renew their license within 2 years , their license is
considered - Answer-expired
Real estate salespersons may perform acts that a broker is authorized to perform , but
they do so - Answer-on behalf of a broker with whom they are associated
A real estate broker must be at least - Answer-20 years old
A real estate broker must have at least how many years of experience as a sales
person? - Answer-two years
A real estate broker must complete how many hours in the broker course for a license?
- Answer-45 hours
How many hours of total coursework should a real estate broker have completed for a
license? - Answer-120 hours total coursework
The status of an associate broker is the same as - Answer-A salesperson
Who issues the pocket card? - Answer-Department of state
The salesperson's license is held where? - Answer-sponsoring broker
When should the real estate sales person carry their pocket card? - Answer-at all times
when doing business and show it on demand
,If a real estate brokers license is suspended or revoked, what happens to each sales
person working under that broker? - Answer-of Sponsor's or each real estate
salesperson working under that broker shall also have their licenses suspended
if a licensed attorney wants to have salespersons working under them ( the attorney
acts as.... - Answer-their sponsoring broker the attorney must obtain a broker's license
All advertisements placed by a broker must list what? - Answer-Name of the broker and
telephone number
Ads that do not contain information of a broker is also known as - Answer-Blind
advertising
Brokers must maintain records of all transactions, for at least, how many years? -
Answer-Three years
General agent - Answer-Someone authorized to transact every kind of business for the
principal. example property manager
Special agent - Answer-An agent with limited authority to act on behalf of the principle,
such as created by a listing. example, real estate agent, or real estate broker
Universal agent - Answer-Has complete authority over any activity of the principal.
example power of authority
Principal or client - Answer-Buyer and/or seller
The broker is also known as what? - Answer-Agent
The sales person is also known as what? - Answer-Sub agent of their broker
When does buyer agency occur? - Answer-When a purchaser hires a broker to
represent them
A buyer representation form should be signed between who? - Answer-the buyer and
the broker
A fiduciary relationship implies what? - Answer-Great confidence and trust
The agents fiduciary duties to the client include.... - Answer-Obedience, loyalty
disclosure of information, confidentialities, accountability, reasonable care
The agency disclosure form is a written explanation to be signed by prospective buyer
or client of real estate. What does it explain? - Answer-the role that the broker plays in
the transaction
, The agency disclosure form outlines what? - Answer-The agents duties to the client
explains that an agent owes a fiduciary duty to the client and allows for advance
consent to dual agency
The agency disclosure form is not required for what? - Answer-The sale of vacant land
According to section 443 of the New York State real property law licensees must
present a written agency disclosure form that details, consumer choice about
representation when? - Answer-At the first substantive contact
Oh, if a buyer or seller refuses to sign the agency disclosure form, what should the
agent document? - Answer-Names, time, date, reasons and complete the declaration
form stating the facts
when the declaration form is done for refusal to sign the agency disclosure form , what if
any should happen next? - Answer-Acknowledgment, state the facts, and retain a copy
for at least three years
Dual agency occurs when - Answer-a broker represents both the buyer and seller in a
transaction
Undisclosed Dual Agency is - Answer-is illegal in New York State
Dual Agency the agent should notify both parties and have them sign - Answer-the
Agency Disclosure form
The agency disclosure form is known as - Answer-Advance Consent to Dual Agency
Estoppel - Answer-when a principal does not stop an individual from representing his or
her interests , thus creating an agency relationship between the two .
A listing contract is created between a seller and a broker not with wom? - Answer-a
salesperson
The listing agreement creates - Answer-an express agency relationship
Exclusive Right to Sell Agreement - Answer-This listing contract offers the most security
to the broker . The seller must work exclusively with the broker to sell their property .
The broker is entitled to a commission even if the seller finds a buyer themselves
Exclusive Agency Agreement - Answer-The seller must work exclusively with the broker
to sell their property , BUT the seller does not have to pay the broker a commission, if
they find a buyer themselves
Open Listing Contract : - Answer-The seller is allowed to work with any broker who
brings them a buyer . Only the broker who brings a buyer is entitled to a commission
