NYS Real Estate 13th Edition Exam
Questions with 100% Verified Answers
2023
J, who has no real estate license, canvasses homeowners by phone to determine
whether they are interested in selling their homes. B, who is licensed, gives J $25 for
every lead she turns up. Does this violate license law? - Answer-Yes, because B is
paying compensation for services that require licensure
Real estate license laws were instituted to - Answer-Protect the public while maintaining
high standards for those issued a license.
In New York, real estate licenses are issued by - Answer-Department of State (DOS)
When a salesperson or associate broker terminates an association with a broker, -
Answer-The salesperson or associate broker must file the resignation with the DOS.
In order to satisfy the education requirements for a real estate salesperson's license,
how many hours of education must an applicant take? - Answer-75 hours
A duly licensed salesperson may accept bonus compensation from - Answer-none of
these
A fully qualified broker who chooses to act as a salesperson under the employ of
another broker's sponsorship is licensed as - Answer-An associate broker
To obtain a broker's license, you must reach the age of - Answer-18
To satisfy the education requirements for a broker's license, an applicant must have first
completed how many hours of prescribed study? - Answer-120 hours
Failure to provide the buyer with a property disclosure form requires - Answer-the seller
to give the buyer a $1,000 credit at closing.
Real estate licenses in New York State are good for - Answer-two years
In the office of a broker, which of the following must be displayed? - Answer-All licenses
A salesperson told the telephone company to print the following ad under "Real Estate"
in the yellow pages: Alissia Jackson, Licensed Salesperson, Residential Property a
Specialty, 473-4973. In order to have placed an appropriate ad, she should have
included her - Answer-area code
, Performing property management duties such as collecting rents for more than one
client requires - Answer-that at least one person hold a real estate broker's license.
The Department of State (DOS) has revoked an agent's license for fraud. Which is
TRUE? - Answer-The agent has the right to appeal the revocation through an Article 78
proceeding.
If a principal broker loses her license, her associated salespersons must immediately -
Answer-stop listing and selling until they have associated with another broker.
License renewal must be accomplished - Answer-only online
Which of the following activities can an unlicensed assistant perform? - Answer-Gather
information for a comparative market analysis (CMA)
Loans sold in the secondary market by the mortgage banker - Answer-can generate
further fees when the banker also services those loans.
The term commingling pertains to - Answer-soliciting the services of another broker's
salespersons.
Which of the following cash deposit amounts must a real estate broker report to the
IRS? - Answer-$15,000
An apartment information vendor's license is available to individuals who are able to -
Answer-obtain a sponsoring broker.
An unlicensed assistant may safely engage in all of the following activities EXCEPT -
Answer-answer questions about a property from an interested buyer.
Which of the following BEST describes the relationship between broker and seller under
a listing agreement? - Answer-Special agency
A broker hired by an owner to sell a parcel of real estate must comply with - Answer-any
legal and reasonable instruction of the owner.
A buyer's broker is told by the buyer that he filed for bankruptcy the year before. The
buyer's broker - Answer-is required to disclose this material fact to the seller.
A listing may be terminated when either broker or principal - Answer-goes bankrupt.
When retained by the buyer, the broker owes a prospective seller - Answer-fair and
honest dealing.
Which of the following BEST describes a licensee representing both parties in the same
transaction? - Answer-Dual agency
Questions with 100% Verified Answers
2023
J, who has no real estate license, canvasses homeowners by phone to determine
whether they are interested in selling their homes. B, who is licensed, gives J $25 for
every lead she turns up. Does this violate license law? - Answer-Yes, because B is
paying compensation for services that require licensure
Real estate license laws were instituted to - Answer-Protect the public while maintaining
high standards for those issued a license.
In New York, real estate licenses are issued by - Answer-Department of State (DOS)
When a salesperson or associate broker terminates an association with a broker, -
Answer-The salesperson or associate broker must file the resignation with the DOS.
In order to satisfy the education requirements for a real estate salesperson's license,
how many hours of education must an applicant take? - Answer-75 hours
A duly licensed salesperson may accept bonus compensation from - Answer-none of
these
A fully qualified broker who chooses to act as a salesperson under the employ of
another broker's sponsorship is licensed as - Answer-An associate broker
To obtain a broker's license, you must reach the age of - Answer-18
To satisfy the education requirements for a broker's license, an applicant must have first
completed how many hours of prescribed study? - Answer-120 hours
Failure to provide the buyer with a property disclosure form requires - Answer-the seller
to give the buyer a $1,000 credit at closing.
Real estate licenses in New York State are good for - Answer-two years
In the office of a broker, which of the following must be displayed? - Answer-All licenses
A salesperson told the telephone company to print the following ad under "Real Estate"
in the yellow pages: Alissia Jackson, Licensed Salesperson, Residential Property a
Specialty, 473-4973. In order to have placed an appropriate ad, she should have
included her - Answer-area code
, Performing property management duties such as collecting rents for more than one
client requires - Answer-that at least one person hold a real estate broker's license.
The Department of State (DOS) has revoked an agent's license for fraud. Which is
TRUE? - Answer-The agent has the right to appeal the revocation through an Article 78
proceeding.
If a principal broker loses her license, her associated salespersons must immediately -
Answer-stop listing and selling until they have associated with another broker.
License renewal must be accomplished - Answer-only online
Which of the following activities can an unlicensed assistant perform? - Answer-Gather
information for a comparative market analysis (CMA)
Loans sold in the secondary market by the mortgage banker - Answer-can generate
further fees when the banker also services those loans.
The term commingling pertains to - Answer-soliciting the services of another broker's
salespersons.
Which of the following cash deposit amounts must a real estate broker report to the
IRS? - Answer-$15,000
An apartment information vendor's license is available to individuals who are able to -
Answer-obtain a sponsoring broker.
An unlicensed assistant may safely engage in all of the following activities EXCEPT -
Answer-answer questions about a property from an interested buyer.
Which of the following BEST describes the relationship between broker and seller under
a listing agreement? - Answer-Special agency
A broker hired by an owner to sell a parcel of real estate must comply with - Answer-any
legal and reasonable instruction of the owner.
A buyer's broker is told by the buyer that he filed for bankruptcy the year before. The
buyer's broker - Answer-is required to disclose this material fact to the seller.
A listing may be terminated when either broker or principal - Answer-goes bankrupt.
When retained by the buyer, the broker owes a prospective seller - Answer-fair and
honest dealing.
Which of the following BEST describes a licensee representing both parties in the same
transaction? - Answer-Dual agency
