New York Real Estate Salesperson Actual
Exam (Latest Update )
Questions & Answers with Rationales|
100% Correct | Grade
1. What is the minimum age requirement to become a licensed real estate
salesperson in New York?
A) 16
B) 18 ✅
C) 20
D) 21
Rationale: To qualify for a New York real estate salesperson license, an
individual must be at least 18 years old.
2. How many hours of pre-licensing education are required for a
salesperson license in New York?
A) 45 hours
B) 60 hours
C) 77 hours ✅
D) 90 hours
Rationale: New York requires a 77-hour pre-licensing course before taking
the salesperson exam
3. Which of the following is NOT a fiduciary duty that a real estate agent
owes to a client?
A) Obedience
, B) Loyalty
C) Accountability
D) Confidentiality
Rationale: The fiduciary duties owed by a real estate agent to a client include
obedience, loyalty, disclosure, confidentiality, accountability, and reasonable
care. While "accountability" is a general term, it's not typically listed as a
fiduciary duty in real estate law.
4. In New York, when must a real estate salesperson provide agency
disclosure to all parties in a transaction?
A) At the first substantive contact ✅
B) Only when asked
C) At the time of closing
D) Before the first showing
Rationale: In New York, a real estate salesperson must provide agency
disclosure at the first substantive contact with a potential client.
5. Which of the following is a prohibited practice for a real estate
salesperson in New York?
A) Advertising listings without the broker's approval ✅
B) Using "for sale by owner" in an ad
C) Offering mortgage services to clients
D) Providing agency disclosure at first contact
Rationale: Advertising listings without the broker's approval is prohibited in
New York.
6. A property in New York is sold for $450,000. The broker charges a
5% commission. How much is the broker's commission?
, A) $22,500 ✅
B) $23,000
C) $20,000
D) $25,000
Rationale: The broker's commission is calculated as 5% of $450,000, which
equals $22,500.
7. In New York, a real estate licensee must maintain a record of all
transactions for at least:
A) 1 year
B) 3 years ✅
C) 5 years
D) 7 years
Rationale: Licensees must maintain records of all transactions for at least
three years in New York
8. Which of the following must be included in the agency disclosure form
in New York?
A) A detailed description of the property
B) A statement of the agency relationship ✅
C) The seller’s mortgage balance
D) A copy of the closing statement
Rationale: The agency disclosure form must include the nature of the agency
relationship, indicating whether the agent represents the buyer or seller.
9. If a real estate salesperson in New York violates real estate law, the
penalty can include all of the following EXCEPT:
, A) Suspension of license
B) Revocation of license
C) A fine of up to $1,000
D) Imprisonment ✅
Rationale: While violations can lead to license suspension, revocation, or
fines, imprisonment is generally not a penalty for real estate violations in
New York.
10. In New York, the Real Estate Board handles:
A) All real estate license examinations
B) The discipline of licensees for violations
C) The approval of real estate courses
D) The enforcement of real estate laws ✅
Rationale: The Real Estate Board in New York is responsible for advising
the Department of State on matters related to real estate laws and regulations.
11. Which of the following best describes a “dual agency”?
A) An agent represents both the buyer and the seller in the same
transaction ✅
B) An agent represents only the seller
C) An agent represents only the buyer
D) An agent represents neither party
Rationale: Dual agency occurs when a licensed agent or broker represents
both parties in a transaction. New York law requires informed consent from
both parties.
12. What is a key disclosure requirement when selling residential
property in New York?
A) Property tax history
Exam (Latest Update )
Questions & Answers with Rationales|
100% Correct | Grade
1. What is the minimum age requirement to become a licensed real estate
salesperson in New York?
A) 16
B) 18 ✅
C) 20
D) 21
Rationale: To qualify for a New York real estate salesperson license, an
individual must be at least 18 years old.
2. How many hours of pre-licensing education are required for a
salesperson license in New York?
A) 45 hours
B) 60 hours
C) 77 hours ✅
D) 90 hours
Rationale: New York requires a 77-hour pre-licensing course before taking
the salesperson exam
3. Which of the following is NOT a fiduciary duty that a real estate agent
owes to a client?
A) Obedience
, B) Loyalty
C) Accountability
D) Confidentiality
Rationale: The fiduciary duties owed by a real estate agent to a client include
obedience, loyalty, disclosure, confidentiality, accountability, and reasonable
care. While "accountability" is a general term, it's not typically listed as a
fiduciary duty in real estate law.
4. In New York, when must a real estate salesperson provide agency
disclosure to all parties in a transaction?
A) At the first substantive contact ✅
B) Only when asked
C) At the time of closing
D) Before the first showing
Rationale: In New York, a real estate salesperson must provide agency
disclosure at the first substantive contact with a potential client.
5. Which of the following is a prohibited practice for a real estate
salesperson in New York?
A) Advertising listings without the broker's approval ✅
B) Using "for sale by owner" in an ad
C) Offering mortgage services to clients
D) Providing agency disclosure at first contact
Rationale: Advertising listings without the broker's approval is prohibited in
New York.
6. A property in New York is sold for $450,000. The broker charges a
5% commission. How much is the broker's commission?
, A) $22,500 ✅
B) $23,000
C) $20,000
D) $25,000
Rationale: The broker's commission is calculated as 5% of $450,000, which
equals $22,500.
7. In New York, a real estate licensee must maintain a record of all
transactions for at least:
A) 1 year
B) 3 years ✅
C) 5 years
D) 7 years
Rationale: Licensees must maintain records of all transactions for at least
three years in New York
8. Which of the following must be included in the agency disclosure form
in New York?
A) A detailed description of the property
B) A statement of the agency relationship ✅
C) The seller’s mortgage balance
D) A copy of the closing statement
Rationale: The agency disclosure form must include the nature of the agency
relationship, indicating whether the agent represents the buyer or seller.
9. If a real estate salesperson in New York violates real estate law, the
penalty can include all of the following EXCEPT:
, A) Suspension of license
B) Revocation of license
C) A fine of up to $1,000
D) Imprisonment ✅
Rationale: While violations can lead to license suspension, revocation, or
fines, imprisonment is generally not a penalty for real estate violations in
New York.
10. In New York, the Real Estate Board handles:
A) All real estate license examinations
B) The discipline of licensees for violations
C) The approval of real estate courses
D) The enforcement of real estate laws ✅
Rationale: The Real Estate Board in New York is responsible for advising
the Department of State on matters related to real estate laws and regulations.
11. Which of the following best describes a “dual agency”?
A) An agent represents both the buyer and the seller in the same
transaction ✅
B) An agent represents only the seller
C) An agent represents only the buyer
D) An agent represents neither party
Rationale: Dual agency occurs when a licensed agent or broker represents
both parties in a transaction. New York law requires informed consent from
both parties.
12. What is a key disclosure requirement when selling residential
property in New York?
A) Property tax history
