NEW YORK REAL ESTATE SALESPERSON EXAMINATION NEWEST EVALUATED
EXAM PRACTICE 100 QUESTIONS 2026-2027|ORIGINAL QUESTIONS &
ANSWERS |DETAILED RATIONALES |HINTED COMPLETE EXAM PREP GRADED
A+*INSTANT DOWNLOAD PDF*
1. A New York real estate salesperson is employed by a licensed broker.
The salesperson receives an offer directly from a buyer. What should the
salesperson do?
A. Accept the offer on behalf of the seller
B. Reject the offer if it is below the asking price
C. Present the offer to the seller through the broker
D. Negotiate and sign a binding contract independently
Answer: C. Present the offer to the seller through the broker.
The salesperson acts under the authority and supervision of the broker and
generally may not independently bind the principal.
2. Which fiduciary duty requires an agent to place the principal's interests
above the agent's own interests?
A. Accounting
B. Loyalty
C. Confidentiality
D. Reasonable care
Answer: B. Loyalty.
The duty of loyalty requires the agent to act in the principal's best interests
and avoid undisclosed conflicts of interest.
3. A seller tells the listing agent that the seller would accept $475,000 even
though the property is listed at $525,000. The seller's statement is:
A. Public information
B. Confidential information
C. Material information that must be disclosed to every buyer
D. An automatic counteroffer
Answer: B. Confidential information.
,The seller's willingness to accept a lower price is confidential and should not be
disclosed without authorization.
4. Which type of agency relationship gives the broker the authority to
represent the seller in marketing and negotiating the sale of a particular
property?
A. Universal agency
B. General agency
C. Special agency
D. Gratuitous agency
Answer: C. Special agency.
Real estate brokers commonly act as special agents because their authority is
limited to a specific transaction or assignment.
5. An agent discovers that the buyer is willing to pay more than the buyer
originally offered. The agent should:
A. Tell the seller immediately
B. Keep the information confidential if representing the buyer
C. Tell competing buyers
D. Increase the buyer's offer without authorization
Answer: B. Keep the information confidential if representing the buyer.
An agent must protect confidential information belonging to the principal.
6. Which statement best describes a fiduciary relationship?
A. A relationship based solely on friendship
B. A relationship involving a high level of trust and confidence
C. A relationship created only by a written lease
D. A relationship between neighboring property owners
Answer: B. A relationship involving a high level of trust and confidence.
Fiduciary relationships impose duties of loyalty, confidentiality, disclosure,
obedience, accounting, and reasonable care as applicable.
, 7. A broker receives a deposit from a buyer in connection with a
transaction. The broker's handling of the money is primarily subject to
the duty of:
A. Disclosure
B. Accounting
C. Obedience
D. Loyalty
Answer: B. Accounting.
The duty of accounting requires proper handling, safeguarding, and accounting
for money and property entrusted to the agent.
8. A salesperson wishes to advertise a property for sale. Which is generally
required?
A. The advertisement must identify the broker
B. The advertisement may identify only the salesperson
C. The seller's name must appear in every advertisement
D. No broker identification is necessary
Answer: A. The advertisement must identify the broker.
New York real estate advertising is regulated, and advertisements by
salespersons must be conducted under the broker's supervision and comply
with applicable identification requirements.
9. A salesperson receives compensation for a transaction. From whom
should the salesperson ordinarily receive compensation?
A. The buyer directly
B. The seller directly
C. The salesperson's employing broker
D. Any cooperating party
Answer: C. The salesperson's employing broker.
New York salespersons are licensed under and work through their employing
broker.
10. Which action would most clearly constitute unauthorized practice by a
salesperson?
, A. Showing property to a prospective buyer
B. Presenting an offer to the seller
C. Receiving instructions from the broker
D. Independently operating a brokerage business
Answer: D. Independently operating a brokerage business.
Salespersons must operate under the authority and supervision of a licensed
broker.
11. A buyer gives a salesperson a written offer accompanied by a deposit
check. What is the appropriate action?
A. Deposit the check into the salesperson's personal account
B. Hold the check until closing
C. Deliver the offer and deposit to the broker promptly
D. Return the check unless the offer is accepted
Answer: C. Deliver the offer and deposit to the broker promptly.
Transaction documents and entrusted funds must be handled according to
applicable law and the broker's procedures.
12. Which form of ownership gives the owner the greatest bundle of rights
recognized by law?
A. Life estate
B. Leasehold estate
C. Fee simple estate
D. Estate at will
Answer: C. Fee simple estate.
Fee simple generally represents the broadest ownership interest in real
property.
13. A life estate is an interest in real property that:
A. Lasts forever
B. Is measured by the life of a specified person
C. Can never be transferred
D. Automatically becomes a lease
EXAM PRACTICE 100 QUESTIONS 2026-2027|ORIGINAL QUESTIONS &
ANSWERS |DETAILED RATIONALES |HINTED COMPLETE EXAM PREP GRADED
A+*INSTANT DOWNLOAD PDF*
1. A New York real estate salesperson is employed by a licensed broker.
The salesperson receives an offer directly from a buyer. What should the
salesperson do?
A. Accept the offer on behalf of the seller
B. Reject the offer if it is below the asking price
C. Present the offer to the seller through the broker
D. Negotiate and sign a binding contract independently
Answer: C. Present the offer to the seller through the broker.
The salesperson acts under the authority and supervision of the broker and
generally may not independently bind the principal.
2. Which fiduciary duty requires an agent to place the principal's interests
above the agent's own interests?
A. Accounting
B. Loyalty
C. Confidentiality
D. Reasonable care
Answer: B. Loyalty.
The duty of loyalty requires the agent to act in the principal's best interests
and avoid undisclosed conflicts of interest.
3. A seller tells the listing agent that the seller would accept $475,000 even
though the property is listed at $525,000. The seller's statement is:
A. Public information
B. Confidential information
C. Material information that must be disclosed to every buyer
D. An automatic counteroffer
Answer: B. Confidential information.
,The seller's willingness to accept a lower price is confidential and should not be
disclosed without authorization.
4. Which type of agency relationship gives the broker the authority to
represent the seller in marketing and negotiating the sale of a particular
property?
A. Universal agency
B. General agency
C. Special agency
D. Gratuitous agency
Answer: C. Special agency.
Real estate brokers commonly act as special agents because their authority is
limited to a specific transaction or assignment.
5. An agent discovers that the buyer is willing to pay more than the buyer
originally offered. The agent should:
A. Tell the seller immediately
B. Keep the information confidential if representing the buyer
C. Tell competing buyers
D. Increase the buyer's offer without authorization
Answer: B. Keep the information confidential if representing the buyer.
An agent must protect confidential information belonging to the principal.
6. Which statement best describes a fiduciary relationship?
A. A relationship based solely on friendship
B. A relationship involving a high level of trust and confidence
C. A relationship created only by a written lease
D. A relationship between neighboring property owners
Answer: B. A relationship involving a high level of trust and confidence.
Fiduciary relationships impose duties of loyalty, confidentiality, disclosure,
obedience, accounting, and reasonable care as applicable.
, 7. A broker receives a deposit from a buyer in connection with a
transaction. The broker's handling of the money is primarily subject to
the duty of:
A. Disclosure
B. Accounting
C. Obedience
D. Loyalty
Answer: B. Accounting.
The duty of accounting requires proper handling, safeguarding, and accounting
for money and property entrusted to the agent.
8. A salesperson wishes to advertise a property for sale. Which is generally
required?
A. The advertisement must identify the broker
B. The advertisement may identify only the salesperson
C. The seller's name must appear in every advertisement
D. No broker identification is necessary
Answer: A. The advertisement must identify the broker.
New York real estate advertising is regulated, and advertisements by
salespersons must be conducted under the broker's supervision and comply
with applicable identification requirements.
9. A salesperson receives compensation for a transaction. From whom
should the salesperson ordinarily receive compensation?
A. The buyer directly
B. The seller directly
C. The salesperson's employing broker
D. Any cooperating party
Answer: C. The salesperson's employing broker.
New York salespersons are licensed under and work through their employing
broker.
10. Which action would most clearly constitute unauthorized practice by a
salesperson?
, A. Showing property to a prospective buyer
B. Presenting an offer to the seller
C. Receiving instructions from the broker
D. Independently operating a brokerage business
Answer: D. Independently operating a brokerage business.
Salespersons must operate under the authority and supervision of a licensed
broker.
11. A buyer gives a salesperson a written offer accompanied by a deposit
check. What is the appropriate action?
A. Deposit the check into the salesperson's personal account
B. Hold the check until closing
C. Deliver the offer and deposit to the broker promptly
D. Return the check unless the offer is accepted
Answer: C. Deliver the offer and deposit to the broker promptly.
Transaction documents and entrusted funds must be handled according to
applicable law and the broker's procedures.
12. Which form of ownership gives the owner the greatest bundle of rights
recognized by law?
A. Life estate
B. Leasehold estate
C. Fee simple estate
D. Estate at will
Answer: C. Fee simple estate.
Fee simple generally represents the broadest ownership interest in real
property.
13. A life estate is an interest in real property that:
A. Lasts forever
B. Is measured by the life of a specified person
C. Can never be transferred
D. Automatically becomes a lease
