NY Real Estate Practice Exam Questions with correct answers

1. To be licensed as a real estate broker, an individual must be at least how old? a. 16 b. 18 c. 20 d. 21 CORRECT ANSWER c. 20 2. Which of the following individuals is exempt from licensure? a. attorneys admitted to practice in the New York courts b. property managers who manage property for more than one individual or company c. individuals who only list property for sale d. auctioneers who only auction commercial real estate CORRECT ANSWER a. attorneys admitted to practice in the New York courts 3. To save in paperwork, Broker Bright decides to combine her office operating account with the deposits obtained from contracts of sale. Broker Bright is guilty of: a. nothing at all b. illegal commingling of funds c. an authorized practice of law d. accepting money without authorization CORRECT ANSWER b. illegal commingling of funds