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NY REAL ESTATE NEWEST EXAM WITH ACTUAL
QUESTIONS AND CORRECT VERIFIED ANSWERS
(100% GUARANTEED PASS!!!)
What agency issues real estate licenses? .....answer.....The New York State
Department of State (NYDOS), Division of Licensing Services
At what age can you become a real estate sales person? .....answer.....18
Do you need experience in the field to become a salesperson?
.....answer.....No
What is the minimum age to become a real estate broker .....answer.....20
Do you need experience in the field to become a broker? .....answer.....yes, 2
years and 3500 points
If your license is revoked how long do you have to wait to re apply
.....answer.....1 year
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As a licensed salesperson, I can receive compensation from ___.
.....answer.....Only from my sponsoring broker.
As real estate license, you will often be an _______ , will receive _______
from your broker and will file a _______ on your tax return detail your
earnings vs your expenses .....answer.....Independent broker
1099
Schedule C
Attorneys admitted to the bar in NYS are ___ from the licensure law, unless
they take on salespeople. .....answer.....exempt
If you mix your client's money with the office operating funds, it's called ___
and you have violated which of the fiduciary obligations? ___
.....answer.....Commingling, Accountability
For how long does a broker need to keep all of his paperwork and records ?
.....answer.....3 years
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If my license has expired, for how long can I continue to practice real estate
sales? In other words, what is the grace period? .....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?
.....answer.....Broker holds the license and I hold the pocket card
As a real estate salesperson, you have to take continuing education every ___
years. .....answer.....2 years
How many hours of CE are required ? .....answer.....22.5 hours
There is also a three hour CE component of ___ required every two years.
.....answer.....Fair Housing
Are real estate brokers also required to fulfill the CE requirement?
.....answer.....Yes
If a person decides to not provide the purchaser with the "property condition
disclosure form " how much of a reduction in price does he have to give?
.....answer.....$500
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If you are truly an independent contractor, what is it that your broker can
provide for you? .....answer.....telephone
As an independent contractor, are you paid for the number of hours you put
into a deal or for your 'production'? .....answer.....production
What is the term of real estate licensure? .....answer.....2 years
I wanna make an application to become a mortgage broker. I can use my
experience as a real estate license on my application to the NYS department
of banking. How many years do I need .....answer.....2 years
Violation of law is a ? .....answer.....Misdemeanor
Referring to the question above what is the possible penalty?
.....answer.....$1000 FINE AND/OR 1 YEAR JAIL
What is the very first document you should fill out with a new client or
customer? .....answer.....Agency Disclosure Form
NY REAL ESTATE NEWEST EXAM WITH ACTUAL
QUESTIONS AND CORRECT VERIFIED ANSWERS
(100% GUARANTEED PASS!!!)
What agency issues real estate licenses? .....answer.....The New York State
Department of State (NYDOS), Division of Licensing Services
At what age can you become a real estate sales person? .....answer.....18
Do you need experience in the field to become a salesperson?
.....answer.....No
What is the minimum age to become a real estate broker .....answer.....20
Do you need experience in the field to become a broker? .....answer.....yes, 2
years and 3500 points
If your license is revoked how long do you have to wait to re apply
.....answer.....1 year
,2|Page
As a licensed salesperson, I can receive compensation from ___.
.....answer.....Only from my sponsoring broker.
As real estate license, you will often be an _______ , will receive _______
from your broker and will file a _______ on your tax return detail your
earnings vs your expenses .....answer.....Independent broker
1099
Schedule C
Attorneys admitted to the bar in NYS are ___ from the licensure law, unless
they take on salespeople. .....answer.....exempt
If you mix your client's money with the office operating funds, it's called ___
and you have violated which of the fiduciary obligations? ___
.....answer.....Commingling, Accountability
For how long does a broker need to keep all of his paperwork and records ?
.....answer.....3 years
,3|Page
If my license has expired, for how long can I continue to practice real estate
sales? In other words, what is the grace period? .....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?
.....answer.....Broker holds the license and I hold the pocket card
As a real estate salesperson, you have to take continuing education every ___
years. .....answer.....2 years
How many hours of CE are required ? .....answer.....22.5 hours
There is also a three hour CE component of ___ required every two years.
.....answer.....Fair Housing
Are real estate brokers also required to fulfill the CE requirement?
.....answer.....Yes
If a person decides to not provide the purchaser with the "property condition
disclosure form " how much of a reduction in price does he have to give?
.....answer.....$500
, 4|Page
If you are truly an independent contractor, what is it that your broker can
provide for you? .....answer.....telephone
As an independent contractor, are you paid for the number of hours you put
into a deal or for your 'production'? .....answer.....production
What is the term of real estate licensure? .....answer.....2 years
I wanna make an application to become a mortgage broker. I can use my
experience as a real estate license on my application to the NYS department
of banking. How many years do I need .....answer.....2 years
Violation of law is a ? .....answer.....Misdemeanor
Referring to the question above what is the possible penalty?
.....answer.....$1000 FINE AND/OR 1 YEAR JAIL
What is the very first document you should fill out with a new client or
customer? .....answer.....Agency Disclosure Form
