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Chapter 1: License Law and Regulations Exam Questions and Answers 100% PASS

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Chapter 1: License Law and Regulations Exam Questions and Answers 100% PASS

Institution
New York Insurance
Course
New York Insurance

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Chapter 1: License Law and
Regulations Exam Questions and
Answers 100% PASS

NYS Department of State—ANSWER---The Department of State is primarily responsible for

issuing real estate licenses, pocket cards, and handing down disciplinary action.




Article 12-A of the NYS Real Property Law outlines the roles/duties of the Department of

State.


Attorney General—ANSWER---According to Article 12-A (NYS Real Property Law), the

Attorney General shall prosecute criminal actions for violations of the Real Property Law.


New York Court of Appeals—ANSWER---The New York Court of Appeals is the highest court

in New York State


Misdemeanor—ANSWER---According to section 442-e of the NYS Real Property Law:




"Any person who violates any provision of this article shall be guilty of a misdemeanor. The

commission of a single act prohibited by this article shall constitute a violation hereof."

, Violations of the Real Property Law—ANSWER---The Department of State may suspend or

revoke a real estate salesperson or broker's license for violations of the Real Property Law.




The DOS may also impose a fine not to exceed $1,000.


Real Estate License Requirements—ANSWER---Real estate salespersons license


A real estate salesperson must be at least 18 years old.


A real estate salespersons license is valid for 2 years.


Every 2 years, the salesperson must renew their license online through eAccessNY.


Before renewing a license, the salesperson must complete 22.5-hours of Continuing

Education.




If a real estate salesperson fails to renew their license within 2 years, their license is

considered expired.


The salesperson must retake the State exam and reapply for their license.




Real estate salespersons may perform acts that a broker is authorized to perform, but they

do so on behalf of a broker with whom they are associated.




Real estate brokers license



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Institution
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