NYREI Exam Review (1-10)Questions And Answers Correct 100%(RATED A+)

According to IRS code, licensed re agents are: - ANSWER statutory non-employees who are treated as independent contractors for tax purposes Each licensed broker shall keep and maintain records for: - ANSWER 3 years Brokers can provide ______, but salespersons are responsible for _____ incurred - ANSWER office and supplies, expenses Who issues real estate licenses - ANSWER NY State Dept of State's Division of Licensing Services associate real estate brokers - ANSWER became brokers but didn't open up their own shop Real estate salesperson may never ______ - ANSWER work independently of his or her broker Qualifications for licensed real estate SP - ANSWER -min age 18 -educ req: 75 hrs -pass school test -pass state test -need sponsoring broker -then apply online for your license Qualifications for licensed real estate broker - ANSWER -min age 20 -min experience 2 years -min pts: 3500 -or 3 yrs alternative business experience or 5250 points -additional 45 hour broker course -pass school and state test license and pocket card are mailed to: - ANSWER your sponsoring broker ($20 fee to changing your sponsoring broker)