COLIBRI REAL ESTATE VIEW AHEAD EXAM QUESTIONS FULL SOLUTION GUIDE FORM
TWO
Colibri Real Estate Final Exa3 Questions and
Answers Verified Solutions Latest Update 2026/2027
Question:
Why should real estate licensees have good knowledge of the loan programs that are currently
available from local banks and other lenders?
Answer:
Financing is a critical part of the transaction. Licensees need to stay current on lenders' guidelines so
they can qualify both the buyers and the property.
Question:
What is the mission of the Division of Licensing Services?
Answer:
To protect the health, safety and welfare of consumers. To provide efficient processing and
examination services to license applicants. To provide accurate information and qualified licensees
to the business community. The Division of Licensing issues licenses and enforces the real estate
law.
Question:
What are the duties of the Secretary of State?
Answer:
All licensing, examination, education, and compliance provisions of Article 12-A. The rules of the
Board. The rules of the Secretary of State
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
TWO
Colibri Real Estate Final Exa3 Questions and
Answers Verified Solutions Latest Update 2026/2027
Question:
Why should real estate licensees have good knowledge of the loan programs that are currently
available from local banks and other lenders?
Answer:
Financing is a critical part of the transaction. Licensees need to stay current on lenders' guidelines so
they can qualify both the buyers and the property.
Question:
What is the mission of the Division of Licensing Services?
Answer:
To protect the health, safety and welfare of consumers. To provide efficient processing and
examination services to license applicants. To provide accurate information and qualified licensees
to the business community. The Division of Licensing issues licenses and enforces the real estate
law.
Question:
What are the duties of the Secretary of State?
Answer:
All licensing, examination, education, and compliance provisions of Article 12-A. The rules of the
Board. The rules of the Secretary of State
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
