Real Estate NY Exam Questions and
Answers
Which of the following individuals is NOT required to have a real estate license?
A real estate salesperson
B real estate broker
C An associate real estate broker
D An attorney admitted to the NY State Bar - Answer-D An attorney admitted to the NY
State Bar
If a real estate salesperson violates Article 12-A of the Real Property Law, they shall be
guilty of a/an...?
A Misdemeanor
B Felony
C Criminal crime
D Civil crime - Answer-A Misdemeanor
According to this fiduciary duty, the agent must put the interests of the client above their
own interests?
A Confidentiality
B Obedience
C Accountability
D Loyalty - Answer-D Loyalty
Someone in a position of great trust serves as a/an...?
A Customer
B Fiduciary
C Cooperating agent
D Sub-agent - Answer-B Fiduciary
This type of agency is created when a principal does not stop an individual from
representing his or her interests?
A Agency by estoppel
B General agency
C Universal agency
D Express agency - Answer-A Agency by estoppel
A licensee is guilty of what if they conceal a material fact from the prospective buyer?
A Misrepresentation
B Material misstatement
C Commingling
D Misappropriation - Answer-A Misrepresentation
Everything that is not real property is considered...?
, A Real estate
B Bundle of rights
C Personal property
D Improvements - Answer-C Personal property
Which of the following interests in real property offer the most complete form of
ownership?
A Life estates
B Leasehold estates
C Fee simple absolute estates
D Cooperative estates - Answer-C Fee simple absolute estates
A couple owns a property as a tenancy by the entirety. When one of the spouses
passes away, the other spouse gains full ownership of the property. When the
remaining spouse passes away, the children inherit the property. This is known as what
type of interest in real property?
A Life estate
B Leasehold estate
C Joint tenancy
D Tenancy in common - Answer-A Life estate
This form of co-ownership does NOT include the 'right of survivorship'?
A Joint tenancy
B Life estate
C Tenancy in common
D Estate for years - Answer-C Tenancy in common
Which of the following leasehold estates automatically renews for another fixed period
of time?
A Estate at will
B Estate for years
C Periodic estate
D Estate at sufferance - Answer-C Periodic estate
What happens to real estate prices when demand is greater than supply?
A Prices will increase
B Prices will decrease
C Prices will stay the same
D Real estate prices are not effected by supply and demand - Answer-A Prices will
increase
How many hours of continuing education is a real estate salesperson required to
complete every two years?
A 16 hours
B 20 hours
C 22.5 hours
Answers
Which of the following individuals is NOT required to have a real estate license?
A real estate salesperson
B real estate broker
C An associate real estate broker
D An attorney admitted to the NY State Bar - Answer-D An attorney admitted to the NY
State Bar
If a real estate salesperson violates Article 12-A of the Real Property Law, they shall be
guilty of a/an...?
A Misdemeanor
B Felony
C Criminal crime
D Civil crime - Answer-A Misdemeanor
According to this fiduciary duty, the agent must put the interests of the client above their
own interests?
A Confidentiality
B Obedience
C Accountability
D Loyalty - Answer-D Loyalty
Someone in a position of great trust serves as a/an...?
A Customer
B Fiduciary
C Cooperating agent
D Sub-agent - Answer-B Fiduciary
This type of agency is created when a principal does not stop an individual from
representing his or her interests?
A Agency by estoppel
B General agency
C Universal agency
D Express agency - Answer-A Agency by estoppel
A licensee is guilty of what if they conceal a material fact from the prospective buyer?
A Misrepresentation
B Material misstatement
C Commingling
D Misappropriation - Answer-A Misrepresentation
Everything that is not real property is considered...?
, A Real estate
B Bundle of rights
C Personal property
D Improvements - Answer-C Personal property
Which of the following interests in real property offer the most complete form of
ownership?
A Life estates
B Leasehold estates
C Fee simple absolute estates
D Cooperative estates - Answer-C Fee simple absolute estates
A couple owns a property as a tenancy by the entirety. When one of the spouses
passes away, the other spouse gains full ownership of the property. When the
remaining spouse passes away, the children inherit the property. This is known as what
type of interest in real property?
A Life estate
B Leasehold estate
C Joint tenancy
D Tenancy in common - Answer-A Life estate
This form of co-ownership does NOT include the 'right of survivorship'?
A Joint tenancy
B Life estate
C Tenancy in common
D Estate for years - Answer-C Tenancy in common
Which of the following leasehold estates automatically renews for another fixed period
of time?
A Estate at will
B Estate for years
C Periodic estate
D Estate at sufferance - Answer-C Periodic estate
What happens to real estate prices when demand is greater than supply?
A Prices will increase
B Prices will decrease
C Prices will stay the same
D Real estate prices are not effected by supply and demand - Answer-A Prices will
increase
How many hours of continuing education is a real estate salesperson required to
complete every two years?
A 16 hours
B 20 hours
C 22.5 hours
