NYS REAL ESTATE EXAM 2024 QUESTIONS AND ANSWERS

NYS REAL ESTATE EXAM 2024 QUESTIONS AND ANSWERS NYS Dept of State - Answer ️️ -agency that licenses real estate agents/brokers Property law name - Answer ️️ -Article 12A Types of real estate licenses (3) - Answer ️️ -salesperson, associate broker, broker An associate broker... - Answer ️️ -has no broker powers A broker... - Answer ️️ -sponsors salespeople and associate brokers The salesperson's license is kept by... - Answer ️️ -the broker for whom the salesperson is working for, kept in a secure place Pocket ID card - Answer ️️ -Kept with the agent, should be carried at all times Any changes to a salesperson's license - Answer ️️ -should be submitted to the Department of State with 5 days notice Fees for license - Answer ️️ -Salesperson: $50 every 2 years Broker/Associate broker: $150 every 2 years Education requirements - Answer ️️ -22.5 hours of continuing education prior to license renewal Total educational hours for broker's license - 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 - Answer ️️ -9 Arkansas Colorado Connecticut Georgia Massachusetts Mississippi Oklahoma Pennsylvania West Virginia What are the other DOS Licenses? (5) - Answer ️️ -1. Notary public 2. Apartment Information Vendor 3. Apartment Sharing Agent 4. Appraiser 5 Home inspector Office regulations - Answer ️️ -1. Must have appropriate office signage 2. Kickbacks are illegal! 3. Blind ads are illegal! (bait and s