New York State Real Estate Practice Exam | 180 Questions with 100% Correct Answers | Verified | Latest Update 2024

What agency issues real estate licenses? - The New York State Department of State (NYDOS), Divison of Licensing Services At what age can you become a real estate salesperson? - 18 Do you need experience in the field to become a sales person? - No What is the minimum age to become a real estate broker? - 20 If your license is revoked, how long do you have to wait to re-apply for it? - One year Do you need experience in the field to become a broker? - Yes, at least 2 years of experience and 3200 points As a licensing salesperson, I can receive compensation from my? - Sponsoring Broker As a real estate licensee you will more often than not be an ________, will receive a ____________ and will file a _____________ - Independent contractor, 1099, Schedule C Attorneys admitted to the bar in NYS are _____ from the licensure law, unless they take on sales people - Exempt If you mix your clients money with the office operating funds, it is called________ and you have violated which fiducary duty? - Commingling funds and Accountability