NYS REAL ESTATE PRACTICE EXAM QUESTIONS AND 100% CORRECT ANSWERS|LATEST 2025/2026|GUARANTEED A+|VERIFIED

NYS REAL ESTATE PRACTICE EXAM
QUESTIONS AND 100% CORRECT
ANSWERS|LATEST 2025/2026|GUARANTEED
A+|VERIFIED

What agency issues real estate licenses? -
B B B B B B



ANSWER
B The New York State Department of State (NYDOS), Divison of Licensing Servic
B B B B B B B B B B B



es



At what age can you become a real estate salesperson? - ANSWER
B B B B B B B B B B B 18



Do you need experience in the field to become a sales person? - ANSWER
B B B B B B B B B B B B B No



What is the minimum age to become a real estate broker? - ANSWER
B B B B B B B B B B B B 20



If your license is revoked, how long do you have to wait to re-apply for it? -
B B B B B B B B B B B B B B B B



B ANSWER One year B




Do you need experience in the field to become a broker? -
B B B B B B B B B B B



B ANSWER Yes, at least 2 years of experience and 3200 points
B B B B B B B B B




As a licensing salesperson, I can receive compensation from my? -
B B B B B B B B B B



B ANSWER Sponsoring Broker B




As a real estate licensee you will more often than not be an ________, will receive a ________
B B B B B B B B B B B B B B B B B



____ and will file a _____________ -
B B B B B B



B ANSWER Independent contractor, 1099, Schedule C B B B B




Attorneys admitted to the bar in NYS are _____ from the licensure law, unless they take on sal
B B B B B B B B B B B B B B B B B



es people - ANSWER
B B B Exempt


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Wicky

,If you mix your clients money with the office operating funds, it is called________ and you hav
B B B B B B B B B B B B B B B B



e violated which fiducary duty? - ANSWER
B B B B B B Commingling funds and Accountability B B B




For how long does a broker need to keep his/her records for? - ANSWER
B B B B B B B B B B B B B Three years B




If my license has expired, for how long can i continue to practice real estate sales?In other wor
B B B B B B B B B B B B B B B B B



ds, what is the grace period? - ANSWER
B B B B B B B No Grace Period
B B




Your real estate license with the pocket card will be sent to your sponsoring broker. who holds
B B B B B B B B B B B B B B B B B



the license? Who holds the pocket card? -
B B B B B B B



B ANSWER Broker holds the license and I hold the pocket card
B B B B B B B B B




How many hours of continuing ed must a sales person take? - ANSWER
B B B B B B B B B B B B 22.5 hours
B




As a real estate sales person, you have to take continuing ed classes every? -
B B B B B B B B B B B B B B



B ANSWER 2 years B




There is also a component of _________ required every two years. -
B B B B B B B B B B B



B ANSWER Fair housing B




Are Real Estate brokers also required to take the CE classes? - ANSWER
B B B B B B B B B B B B Yes



If a seller decides not to provide the purchaser with the Property Condition Disclosure Form, h
B B B B B B B B B B B B B B B



ow much of a reduction in price does he have to give? - ANSWER
B B B B B B B B B B B B B $500



If you are a independent contractor what can a broker provide to you? -
B B B B B B B B B B B B B



B ANSWER Telephone




2
Wicky

, As an independent contractor are you paid for the hours you put into a deal, or for "productio
B B B B B B B B B B B B B B B B B



n'? - ANSWER
B B no



What is the term of a real estate licensure? - ANSWER
B B B B B B B B B B two years B




If i was a real estate licensee and wanted to apply to become a mortgage broker, how many ye
B B B B B B B B B B B B B B B B B B



ars of experience would i need? - ANSWER
B B B B B B B Two Years B




Violation of real estate Licensee law is a? - ANSWER
B B B B B B B B B Misdemeanor



What is the possible penalty of violating Real Estate Licensee Law? -
B B B B B B B B B B B



B ANSWER $1000 fine, and up to one year in jail
B B B B B B B B




What is the very first document you should fill out with a client or customer? -
B B B B B B B B B B B B B B B



B ANSWER Agency Disclosure Form B B




At what moment should you take out the Agency Disclosure form? -
B B B B B B B B B B B



B ANSWER At first Substantive Contact
B B B




What does First substantive contact mean? -
B B B B B B



ANSWER
B When the customer begins to ask questions pretaining to the Real Estate Prop
B B B B B B B B B B B B



erty.



What should you do if a customer refuses to sign an Agency Disclousure form? -
B B B B B B B B B B B B B B



B ANSWER Fill out an affidavit stating the refusal to sign, then have it notarizied.
B B B B B B B B B B B B




As a real estate sales person I am what kind of agent? - ANSWER
B B B B B B B B B B B B B Special Agent B




As a property manager I am what kind of agent? - ANSWER
B B B B B B B B B B B A General Agent
B B




3
Wicky