NY real estate express practice exam questions and answers 100% verified.

NY real estate express practice exam questions and answers 100% verified. Sellers market their property using a __________. - correct ng agreement When the licensee has a buyer brokerage agreement with a purchaser, he or she must represent the best interests of the ___ rather than the ___. - correct ,seller In most cases, buyers cannot make a purchase without ____ at least some part of the transaction. - correct cing Buyer gets the ____ to the property, seller gets the _____ from the sale, and the broker gets a _____. - correct , proceeds, commission The DOS is responsible for the ___, _____ and _____ of a number of occupations - correct sure, registration, regulation The Mission of the DOS is... - correct answers.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 DOS is allowed to reprimand a real estate broker if: - correct answers.Violated any provision of Article 12-A of the Real Property Law. Engaged in fraud or fraudulent practices. Demonstrated untrustworthiness or incompetence. The Board consists of the _____, the _____ of Financial Services and ______ (brokers or public members). - correct answers.Secretary of State, Superintendent of Financial Services, thirteen appointed members (brokers or public members). Depending on the appointments by the Minority Leaders, the Board will be composed of: - correct answers.Seven real estate brokers and six public members Six real estate brokers and seven public members Five real estate brokers and eight public members The _____ is the Chairperson. A Vice-Chairperson and Secretary are elected from among the other members of the Board. If a member fails to attend ____ consecutive meetings, the member shall forfeit seat on the Board (may be excused due to illness or death in the family). - correct answers.Secretary of State, three The ____ has the duty to administer all licensing, examination, education, and compliance provisions of Article 12-A; the rules of the Board; and the rules of the Secretary of State. - correct answers.Secretary of State Except for things delegated specifically to the ____, the ___ has general authority to promulgate rules and regulations affecting real estate brokers and salespersons in order to administer Article 12-A of the Real Property Law. - correct answers.Secretary of State, Board Has a responsibility to be fair and competent when dealing with the public. Is responsible for managing and supervising all affiliated licensees. - correct estate broker Licensed real estate broker who chooses to work under the name and supervision of a licensed real estate broker. Can maintain a separate real estate broker's license. Can only receive commission payments from their sponsoring broker. - correct answers.Associate real estate broker Works on behalf of a licensed real estate broker to perform any of the duties associated with real estate transactions. Can only receive commission payments from sponsoring broker. - correct answers.Real estate salesperson Exemptions from needing a license: - correct answers.An owner selling/landlord renting own property. An attorney performing duties as an attorney/admitted to the bar in New York. A receiver or trustee in bankruptcy. In order to become a licensed salesperson in New York, a candidate must: Be at least __ years old and permanent US residency. Successfully complete the __-hour pre-license course approved by the New York Department of State and pass the New York state licensing exam. Obtain a _____ before obtaining the license. - correct answers.18, 75, sponsoring broker To become a licensed broker, a candidate must: Be at least __ years old and permanent US residency. Successfully complete the ___-hour course of study approved by the New York Department of State and pass the New York state broker exam. Submit proof of one of these requirements: ___ full years of experience as a licensed salesperson and _____ points.____ years of equivalent experience in some other aspect of real estate and ____ points, subject to approval by the Department of State. - correct answers.20, 120, Two, 3500, Three, 5250