COLIBRI REAL ESTATE EXAM PREP QUESTIONS ANSWERS STUDY GUIDE VERIFIED
SOLUTION FORM TWO
Colibri REAL Estate TEST Paper 2026/2027
Questions and Answers Verified Solutions Latest
Update
Question:
How is an associate broker different from a broker?
Answer:
An associate broker must meet the same qualifications as a licensed broker; however, an associate
broker chooses to work under the name and supervision of a licensed real estate broker.
Question:
How do licensees collect their commissions?
Answer:
A broker can collect commissions from the clients. However, the licensees working for the broker
can only receive commission payments from their sponsoring broker.
Question:
How old must a person be who wishes to become licensed in New York?
Answer:
Salespersons must be 18 years old; brokers must be 20 years old.
Question:
How many hours of instruction are required to become licensed in New York?
Answer:
Salespersons are required to complete 77 hours of instruction; brokers must complete 152 hours.
,Question:
How are exam scores reported, and what percentage is needed to pass the exam?
Answer:
ASAP after the exam as either pass or fail; 70%
Question:
Besides individual and associate broker, name 2 classes of broker licenses available.
Answer:
Trade name broker, corporate broker, partnership broker
Question:
What are the experience requirements to become a broker?
Answer:
Two full years of experience as a licensed salesperson and 3,500 points. Three years of equivalent
experience in some other aspect of real estate and 5,250 points, subject to approval by the
Department of State.
Question:
Which penalty is not imposed by the DOS on a real estate broker for engaging in fraud? License
revocation Fine Imprisonment Reprimand
Answer:
Imprisonment
Question:
An___________ real estate broker is a licensed real estate broker who chooses to work under the
name and supervision of a licensed real estate broker.
Answer:
Associate
,Question:
Associate brokers may receive commission payments from Seller Buyer Cooperating broker
Sponsoring broker
Answer:
Sponsoring broker
Question:
Passed exam results are only valid for a period of ____ years.
Answer:
2
Question:
For what are members of the Board compensated? Their time Their expertise Contractual terms
Expense reimbursements
Answer:
Expense reimbursements
Question:
How much is the fee charged by the DOS for an associate broker license? $50 $185 $15 No fee is
charged
Answer:
$185
Question:
How many points are given for hotel sales experience? 125
Answer:
400
, Question:
From whom can a salesperson receive compensation? From any broker he or she works for From a
broker or client From his or her sponsoring broker only From the broker or another licensee in the
same firm
Answer:
From his or her sponsoring broker only
Question:
How many points are given for 3 years of certain types of real estate activities? 1,000 3,500 5,250
7,625
Answer:
5,250
Question:
Which of the following is a requirement for becoming a licensed real estate broker in NY? Be at
least 21 years old No misdemeanor convictions Demonstrate fair knowledge of the English language
Be a US citizen
Answer:
Demonstrate fair knowledge of the English language
Question:
A real estate transaction has four stages. Which of the following is NOT one of those stages? Listing
the property Marketing the property Negotiating the purchase contract Settling the transaction
Answer:
Marketing the property
Question:
How many members of the NYS Board of Real Estate must be real estate brokers? All None
SOLUTION FORM TWO
Colibri REAL Estate TEST Paper 2026/2027
Questions and Answers Verified Solutions Latest
Update
Question:
How is an associate broker different from a broker?
Answer:
An associate broker must meet the same qualifications as a licensed broker; however, an associate
broker chooses to work under the name and supervision of a licensed real estate broker.
Question:
How do licensees collect their commissions?
Answer:
A broker can collect commissions from the clients. However, the licensees working for the broker
can only receive commission payments from their sponsoring broker.
Question:
How old must a person be who wishes to become licensed in New York?
Answer:
Salespersons must be 18 years old; brokers must be 20 years old.
Question:
How many hours of instruction are required to become licensed in New York?
Answer:
Salespersons are required to complete 77 hours of instruction; brokers must complete 152 hours.
,Question:
How are exam scores reported, and what percentage is needed to pass the exam?
Answer:
ASAP after the exam as either pass or fail; 70%
Question:
Besides individual and associate broker, name 2 classes of broker licenses available.
Answer:
Trade name broker, corporate broker, partnership broker
Question:
What are the experience requirements to become a broker?
Answer:
Two full years of experience as a licensed salesperson and 3,500 points. Three years of equivalent
experience in some other aspect of real estate and 5,250 points, subject to approval by the
Department of State.
Question:
Which penalty is not imposed by the DOS on a real estate broker for engaging in fraud? License
revocation Fine Imprisonment Reprimand
Answer:
Imprisonment
Question:
An___________ real estate broker is a licensed real estate broker who chooses to work under the
name and supervision of a licensed real estate broker.
Answer:
Associate
,Question:
Associate brokers may receive commission payments from Seller Buyer Cooperating broker
Sponsoring broker
Answer:
Sponsoring broker
Question:
Passed exam results are only valid for a period of ____ years.
Answer:
2
Question:
For what are members of the Board compensated? Their time Their expertise Contractual terms
Expense reimbursements
Answer:
Expense reimbursements
Question:
How much is the fee charged by the DOS for an associate broker license? $50 $185 $15 No fee is
charged
Answer:
$185
Question:
How many points are given for hotel sales experience? 125
Answer:
400
, Question:
From whom can a salesperson receive compensation? From any broker he or she works for From a
broker or client From his or her sponsoring broker only From the broker or another licensee in the
same firm
Answer:
From his or her sponsoring broker only
Question:
How many points are given for 3 years of certain types of real estate activities? 1,000 3,500 5,250
7,625
Answer:
5,250
Question:
Which of the following is a requirement for becoming a licensed real estate broker in NY? Be at
least 21 years old No misdemeanor convictions Demonstrate fair knowledge of the English language
Be a US citizen
Answer:
Demonstrate fair knowledge of the English language
Question:
A real estate transaction has four stages. Which of the following is NOT one of those stages? Listing
the property Marketing the property Negotiating the purchase contract Settling the transaction
Answer:
Marketing the property
Question:
How many members of the NYS Board of Real Estate must be real estate brokers? All None
