NY REAL ESTATE FINAL PAPER 2026
QUESTIONS WITH ANSWERS GRADED A+
◉ Property law name. Answer: Article 12A
◉ Types of real estate licenses (3). Answer: salesperson, associate
broker, broker
◉ An associate broker.... Answer: has no broker powers
◉ A broker.... Answer: sponsors salespeople and associate brokers
◉ The salesperson's license is kept by.... Answer: the broker for whom
the salesperson is working for, kept in a secure place
◉ Pocket ID card. Answer: Kept with the agent, should be carried at all
times
◉ Any changes to a salesperson's license. Answer: should be submitted
to the Department of State with 5 days notice
,◉ Fees for license. Answer: Salesperson: $50 every 2 years
Broker/Associate broker: $150 every 2 years
◉ Education requirements. Answer: 22.5 hours of continuing education
prior to license renewal
◉ Total educational hours for broker's license. Answer: 120 hours (75
sales, 45 brokers)
3500 points sales experience, 2 yrs full time
5250 points for related experience, 3 years full time
◉ reciprocal states to NY. Answer: 9
Arkansas
Colorado
Connecticut
Georgia
Massachusetts
Mississippi
Oklahoma
Pennsylvania
West Virginia
,◉ What are the other DOS Licenses? (5). Answer: 1. Notary public
2. Apartment Information Vendor
3. Apartment Sharing Agent
4. Appraiser
5 Home inspector
◉ Office regulations. Answer: 1. Must have appropriate office signage
2. Kickbacks are illegal!
3. Blind ads are illegal! (bait and switch)
◉ Administrative discipline for misdeeds (3). Answer: 1. suspension of
license
2. Revocation of license (must wait one year before applying for
licensing privilege)
3. Article 78 proceeding - Appeal a decision
◉ Stigmatized property disclosure. Answer: Article 443, sellers and
seller agents do not have to disclose this info and may or may not
disclose upon written request of the buyer or buyer agent. A seller agent
can disclose only with permission of the seller. A buyer or buyer agent
may provide written request for disclosure to the seller or seller agent
during negotiations for purchase.
, ◉ Do Attorneys need a license to practice real estate brokerage?.
Answer: No, except for when they employ licensee to work under their
supervision
◉ Commingling of funds. Answer: ILLEGAL!
◉ Net listings. Answer: ILLEGAL!
◉ Violation of license law. Answer: misdemeanor and punishable by
$1K fine and or a maximum sentence of a year in jail
◉ Revocation of a broker's license.... Answer: suspends the license of
salespersons and associate brokers in the broker's employ
◉ Property Condition Disclosure Statement. Answer: must be provided
to the buyer's agent before the sellers accept the purchase offer
◉ Uncapped natural gas wells. Answer: must be disclosed by seller to
buyer before entering into a contract of sale.
◉ Who can be an officer in a real estate company?. Answer: Only full
broker. Not an associate broker, not a salesperson
QUESTIONS WITH ANSWERS GRADED A+
◉ Property law name. Answer: Article 12A
◉ Types of real estate licenses (3). Answer: salesperson, associate
broker, broker
◉ An associate broker.... Answer: has no broker powers
◉ A broker.... Answer: sponsors salespeople and associate brokers
◉ The salesperson's license is kept by.... Answer: the broker for whom
the salesperson is working for, kept in a secure place
◉ Pocket ID card. Answer: Kept with the agent, should be carried at all
times
◉ Any changes to a salesperson's license. Answer: should be submitted
to the Department of State with 5 days notice
,◉ Fees for license. Answer: Salesperson: $50 every 2 years
Broker/Associate broker: $150 every 2 years
◉ Education requirements. Answer: 22.5 hours of continuing education
prior to license renewal
◉ Total educational hours for broker's license. Answer: 120 hours (75
sales, 45 brokers)
3500 points sales experience, 2 yrs full time
5250 points for related experience, 3 years full time
◉ reciprocal states to NY. Answer: 9
Arkansas
Colorado
Connecticut
Georgia
Massachusetts
Mississippi
Oklahoma
Pennsylvania
West Virginia
,◉ What are the other DOS Licenses? (5). Answer: 1. Notary public
2. Apartment Information Vendor
3. Apartment Sharing Agent
4. Appraiser
5 Home inspector
◉ Office regulations. Answer: 1. Must have appropriate office signage
2. Kickbacks are illegal!
3. Blind ads are illegal! (bait and switch)
◉ Administrative discipline for misdeeds (3). Answer: 1. suspension of
license
2. Revocation of license (must wait one year before applying for
licensing privilege)
3. Article 78 proceeding - Appeal a decision
◉ Stigmatized property disclosure. Answer: Article 443, sellers and
seller agents do not have to disclose this info and may or may not
disclose upon written request of the buyer or buyer agent. A seller agent
can disclose only with permission of the seller. A buyer or buyer agent
may provide written request for disclosure to the seller or seller agent
during negotiations for purchase.
, ◉ Do Attorneys need a license to practice real estate brokerage?.
Answer: No, except for when they employ licensee to work under their
supervision
◉ Commingling of funds. Answer: ILLEGAL!
◉ Net listings. Answer: ILLEGAL!
◉ Violation of license law. Answer: misdemeanor and punishable by
$1K fine and or a maximum sentence of a year in jail
◉ Revocation of a broker's license.... Answer: suspends the license of
salespersons and associate brokers in the broker's employ
◉ Property Condition Disclosure Statement. Answer: must be provided
to the buyer's agent before the sellers accept the purchase offer
◉ Uncapped natural gas wells. Answer: must be disclosed by seller to
buyer before entering into a contract of sale.
◉ Who can be an officer in a real estate company?. Answer: Only full
broker. Not an associate broker, not a salesperson
