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NY REAL ESTATE EXAM REVIEW QUESTIONS
AND CORRECT DETAILED ANSWERS LATEST
2025-2026 VERSION ALREADY A GRADED |NEW
AND REVISED
1-A broker legitimately may pay all or part of Real estate commission to
a
a. seller
b. salesperson
c. buyer
d. friend who provides a listing lead - ANSWER- -B: Salesperson can
accept compensation only from their sponsoring broker.
2-The minimum age for a New York real estate broker's license is
a. 19.
b. 18.
c. 20.
d. 21. - ANSWER- C. As of July 1,2008 to become a broker you must be
20 years old.
3-Which of the following acts would require a real estate license in New
York
a. Sale of one's own property
b. Sale by the owner's lawyer
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c. Sale of land by an auctioneer
d. Foreclosure sale by court order - ANSWER- C: selling land at an
auction.
4-An associate broker may
a. sponsor a person for a salesperson's license.
b. collect his or her own real estate fees.
c. act as a principal broker for another broker.
d. Work as a salesperson for a principal broker - ANSWER- D:
Associate broker is a licensed broker but chooses to work under the
supervision of another broker.
5-Violation of the license law is a misdemeanor, Punishable by up to a
year in jail and a fine of
Up to
a. $500.
b. $2,000.
c. $1,000.
d. $1,500. - ANSWER- C: DOS may impose a fine not to exceed $1000.
6-When salesperson Tom Jones left ABC Realty And went to work with
XYZ REALTORS,
Tom's listings
a. became null and void.
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b. Remained with ABC Realty.
c. Went with him to XYZ REALTORS.
d. Required the sellers' signatures to remain in the local MLS. -
ANSWER- B: When a licensee terminates with a broker they must turn
over all information.
A salesperson's license must be
a. displayed on the firm's wall.
b. kept in the salesperson's wallet
c. retained by the principal broker.
d. d. sent to the local REALTORS association. - ANSWER- C: Kept by
the broker in a safe place.
8-When does offering a client's business for sale Require a real estate
license?
a. Never
b. Always
c. When the business includes any real estate
d. When more than half the value is real estate - ANSWER- -D: selling a
business where the real estate is greater than the business.
An apartment information vendor is licensed by:
a. Department of Law
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b. New York Attorney General's office
c. Department of State
d. Division of Housing and Community Rental - ANSWER- C:
Department of State licenses apartment information vendors....
When a license is revoked, how long must a licensee wait before
applying to have the license reinstated?
a. 18 months
b. 1 year
c. 6 months
d. 2 years - ANSWER- B: If a license is revoke licensee must wait 1
year before reapplying..
The form of listing whereby an owner lists property for sale with a
number of brokers is known as a(n)
a. Exclusive agency.
b. Open listing.
c. Exclusive right to sell.
d. Net listing. - ANSWER- B: In an Open listing the seller allows the
property to be shown by many Brokers.
To avoid possible liability for the actions of c cooperating members of a
multiple-listing system, the owner who lists property for sale may
decline to offer
a. commission to the selling agent.
NY REAL ESTATE EXAM REVIEW QUESTIONS
AND CORRECT DETAILED ANSWERS LATEST
2025-2026 VERSION ALREADY A GRADED |NEW
AND REVISED
1-A broker legitimately may pay all or part of Real estate commission to
a
a. seller
b. salesperson
c. buyer
d. friend who provides a listing lead - ANSWER- -B: Salesperson can
accept compensation only from their sponsoring broker.
2-The minimum age for a New York real estate broker's license is
a. 19.
b. 18.
c. 20.
d. 21. - ANSWER- C. As of July 1,2008 to become a broker you must be
20 years old.
3-Which of the following acts would require a real estate license in New
York
a. Sale of one's own property
b. Sale by the owner's lawyer
,2|Page
c. Sale of land by an auctioneer
d. Foreclosure sale by court order - ANSWER- C: selling land at an
auction.
4-An associate broker may
a. sponsor a person for a salesperson's license.
b. collect his or her own real estate fees.
c. act as a principal broker for another broker.
d. Work as a salesperson for a principal broker - ANSWER- D:
Associate broker is a licensed broker but chooses to work under the
supervision of another broker.
5-Violation of the license law is a misdemeanor, Punishable by up to a
year in jail and a fine of
Up to
a. $500.
b. $2,000.
c. $1,000.
d. $1,500. - ANSWER- C: DOS may impose a fine not to exceed $1000.
6-When salesperson Tom Jones left ABC Realty And went to work with
XYZ REALTORS,
Tom's listings
a. became null and void.
,3|Page
b. Remained with ABC Realty.
c. Went with him to XYZ REALTORS.
d. Required the sellers' signatures to remain in the local MLS. -
ANSWER- B: When a licensee terminates with a broker they must turn
over all information.
A salesperson's license must be
a. displayed on the firm's wall.
b. kept in the salesperson's wallet
c. retained by the principal broker.
d. d. sent to the local REALTORS association. - ANSWER- C: Kept by
the broker in a safe place.
8-When does offering a client's business for sale Require a real estate
license?
a. Never
b. Always
c. When the business includes any real estate
d. When more than half the value is real estate - ANSWER- -D: selling a
business where the real estate is greater than the business.
An apartment information vendor is licensed by:
a. Department of Law
, 4|Page
b. New York Attorney General's office
c. Department of State
d. Division of Housing and Community Rental - ANSWER- C:
Department of State licenses apartment information vendors....
When a license is revoked, how long must a licensee wait before
applying to have the license reinstated?
a. 18 months
b. 1 year
c. 6 months
d. 2 years - ANSWER- B: If a license is revoke licensee must wait 1
year before reapplying..
The form of listing whereby an owner lists property for sale with a
number of brokers is known as a(n)
a. Exclusive agency.
b. Open listing.
c. Exclusive right to sell.
d. Net listing. - ANSWER- B: In an Open listing the seller allows the
property to be shown by many Brokers.
To avoid possible liability for the actions of c cooperating members of a
multiple-listing system, the owner who lists property for sale may
decline to offer
a. commission to the selling agent.
