NYC Real estate EXAM QUESTIONS AND
ANSWERS 100% SOLVED (Newest 2025)
when parenters of a real estate firm become liscensed they
are.. - Correct Answers ✅a representative broker
Associate Real Estate Broker - Correct Answers ✅An
associate real estate broker is an individual who has
otherwise qualified to be a broker but has chosen to work as
a salesperson, under the sponsorship and direct supervision
of another broker. The associate real estate broker must meet
all the qualifications for a broker's license and pass the
broker's examination, but is licensed to transact business in
the name of the sponsor or sponsoring broker; however, once
licensed, an associate broker is governed by those license-
law provisions that apply to real estate salespersons. In New
York, associate real estate brokers may also hold a broker's
license in their own name. When a broker of any type holds
more than one license, or when a salesperson holds separate
licenses to work under more than one broker, this is
commonly called dual licensure
in the 1920s - Correct Answers ✅property and agent
disclosures were nion exsisitent
In 1922, New York State passed pioneering legislation that
would regulate the real estate industry - Correct Answers
✅
REAL PROPERTY LAW ARTICLE 12A - Correct Answers ✅
,NYC Real estate EXAM QUESTIONS AND
ANSWERS 100% SOLVED (Newest 2025)
Violation of the license law - Correct Answers ✅is a
misdemeanor punishable by up to a year in jail and a fine of
up to $1,000 per violation
The New York Real Property Law (NY RPL, or RPL), Article 12-
A, which went into effect in 1922 - Correct Answers ✅is the
main source of law for real estate licenses in New York
New York's empowering of a state agency to regulate real
estate brokerage activities is in contrast to many other states
in which real estate commissions made up largely of real
estate brokers self-regulate the industry - Correct Answers
✅
the Division of Licensing Services does share some regulatory
duties with New York's State Board of Real Estate, which has
15 members - Correct Answers ✅
real estate licensing is required for any person who - Correct
Answers ✅performs a real estate act,
for another, and
for or in anticipation of compensation or other valuable
consideration
A real estate broker - Correct Answers ✅legal person,
partnership, entity, or corporation that for a fee (or the
, NYC Real estate EXAM QUESTIONS AND
ANSWERS 100% SOLVED (Newest 2025)
expectation of a fee) performs for another any of the
following 11 services:
Negotiates any form of real estate transaction
Lists or attempts to list real property for sale
Negotiates a loan secured by a mortgage (other than a
residential mortgage loan [one- to four-family dwelling], as
defined in Section 590 of the New York Banking Law)
Negotiates a lease
Collects rents for more than one client (property
management services)
Sells a lot or parcel of land by auction
Negotiates the sale of a parcel of subdivided land
Exchanges real property
Relocates commercial or residential tenants
Engages in the sale of condominiums and cooperatives
Sells a business that has more than half its value in real
estate
Salesperson - Correct Answers ✅A real estate salesperson
is one who assists a broker in the performance and
disposition of the broker's business concerning any of the
aforementioned 11 services performed by the broker. Brokers
are authorized to operate their own real estate business, but
salespersons may work only in the name of and under the
direct supervision of a sponsoring broker. The salesperson
ANSWERS 100% SOLVED (Newest 2025)
when parenters of a real estate firm become liscensed they
are.. - Correct Answers ✅a representative broker
Associate Real Estate Broker - Correct Answers ✅An
associate real estate broker is an individual who has
otherwise qualified to be a broker but has chosen to work as
a salesperson, under the sponsorship and direct supervision
of another broker. The associate real estate broker must meet
all the qualifications for a broker's license and pass the
broker's examination, but is licensed to transact business in
the name of the sponsor or sponsoring broker; however, once
licensed, an associate broker is governed by those license-
law provisions that apply to real estate salespersons. In New
York, associate real estate brokers may also hold a broker's
license in their own name. When a broker of any type holds
more than one license, or when a salesperson holds separate
licenses to work under more than one broker, this is
commonly called dual licensure
in the 1920s - Correct Answers ✅property and agent
disclosures were nion exsisitent
In 1922, New York State passed pioneering legislation that
would regulate the real estate industry - Correct Answers
✅
REAL PROPERTY LAW ARTICLE 12A - Correct Answers ✅
,NYC Real estate EXAM QUESTIONS AND
ANSWERS 100% SOLVED (Newest 2025)
Violation of the license law - Correct Answers ✅is a
misdemeanor punishable by up to a year in jail and a fine of
up to $1,000 per violation
The New York Real Property Law (NY RPL, or RPL), Article 12-
A, which went into effect in 1922 - Correct Answers ✅is the
main source of law for real estate licenses in New York
New York's empowering of a state agency to regulate real
estate brokerage activities is in contrast to many other states
in which real estate commissions made up largely of real
estate brokers self-regulate the industry - Correct Answers
✅
the Division of Licensing Services does share some regulatory
duties with New York's State Board of Real Estate, which has
15 members - Correct Answers ✅
real estate licensing is required for any person who - Correct
Answers ✅performs a real estate act,
for another, and
for or in anticipation of compensation or other valuable
consideration
A real estate broker - Correct Answers ✅legal person,
partnership, entity, or corporation that for a fee (or the
, NYC Real estate EXAM QUESTIONS AND
ANSWERS 100% SOLVED (Newest 2025)
expectation of a fee) performs for another any of the
following 11 services:
Negotiates any form of real estate transaction
Lists or attempts to list real property for sale
Negotiates a loan secured by a mortgage (other than a
residential mortgage loan [one- to four-family dwelling], as
defined in Section 590 of the New York Banking Law)
Negotiates a lease
Collects rents for more than one client (property
management services)
Sells a lot or parcel of land by auction
Negotiates the sale of a parcel of subdivided land
Exchanges real property
Relocates commercial or residential tenants
Engages in the sale of condominiums and cooperatives
Sells a business that has more than half its value in real
estate
Salesperson - Correct Answers ✅A real estate salesperson
is one who assists a broker in the performance and
disposition of the broker's business concerning any of the
aforementioned 11 services performed by the broker. Brokers
are authorized to operate their own real estate business, but
salespersons may work only in the name of and under the
direct supervision of a sponsoring broker. The salesperson
